MTS Bank has said it is not scaling back its product lending operations, but rather changing the format of that business, according to a report from Финансы Mail. The statement was published on Tuesday, August 25, 2026.
The bank’s clarification comes amid broader reporting on its financial performance for the first half of the year. According to Ведомости, MTS Bank’s net profit under IFRS more than doubled over the period, rising 2.1 times year-on-year. RB.ru reported the same growth figure, putting the six-month profit at 7.2 billion rubles.
The Moscow Times’ Russian service reported that MTS Bank expects a gradual decline in the cost of risk and does not anticipate major defaults. BFM.ru also covered the bank’s half-year financial results, though it did not provide additional specifics in the material reviewed.
The bank’s comments on product lending appear to address questions about whether it is pulling back from that segment. By framing the move as a change in form rather than a reduction, MTS Bank is signaling that it intends to keep offering such products, but possibly through a different structure or channel.
The profit growth figures suggest the bank’s overall business is performing well, even as it adjusts parts of its portfolio. The expectation of a declining cost of risk points to a more stable credit environment ahead, in the bank’s view.
What to watch next: whether MTS Bank provides further detail on what the new form of product lending will look like, and whether other lenders follow a similar path.
