Zaymer Q3 2026: NII falls 23.8% y/y as growth decelerates further; net profit down 48.0%

Zaymer reported Q3 2026 net interest income (NII) of 4,007.482 mln and net profit of 715.585 mln, down 23.8% and 48.0% y/y respectively. The revenue (NII) growth trend decelerated: Q3 2026 NII fell 23.8% y/y versus a 15.0% decline in Q2 2026, marking a further slowdown in top-line momentum.

Q3 2026 vs Q3 2025: headline y/y growth

What drove the result

The decline was driven by a sharp contraction in net interest income, which fell to 4,007.482 mln from 5,260.135 mln a year earlier. Net profit fell even more steeply, to 715.585 mln from 1,375.910 mln, implying margin compression beyond the top-line decline. Equity stood at 14,065.140 mln at end-Q3 2026, down from 14,505.821 mln a year earlier and from 14,897.273 mln at end-Q1 2026, reflecting the cumulative profit decline and likely capital consumption.

Key figures (mln)

Outlook

The sequential trend remains negative: NII declined from 4,544.895 mln in Q1 2026 to 4,512.353 mln in Q2 2026 and 4,007.482 mln in Q3 2026, while quarterly net profit fell from 436.625 mln in Q1 to 483.832 mln in Q2 and 715.585 mln in Q3 (the Q3 figure still down 48.0% y/y). With no guidance or dividend update provided, the key watch items are the pace of NII stabilisation and whether equity erosion continues; the y/y decline in NII has widened for three consecutive quarters (-9.3% in Q1, -15.0% in Q2, -23.8% in Q3), suggesting pressure is not yet abating.