CREDIT BANK OF MOSCOW (CBOM) Q2 2026 earnings summary

Executive summary

• H1 2026 profit was RUB 15.642bn vs RUB 6.944bn YoY; Q2 profit was RUB 1.348bn vs RUB 4.640bn.

• Assets were RUB 4.653tn at 30 June 2026, down from RUB 4.874tn at 31 December 2025; equity rose to RUB 388.6bn from RUB 371.9bn.

• Independent review concluded that nothing came to attention indicating material non-compliance with the stated preparation basis; this was a review, not an audit.

Financial highlights

• H1 net interest income rose to RUB 55.331bn from RUB 41.978bn; after debt-asset credit losses, net interest income was RUB 41.199bn vs RUB 30.569bn.

• H1 net fee and commission income was RUB 6.097bn vs RUB 7.019bn; operating income was RUB 40.526bn vs RUB 27.133bn.

• H1 credit-loss charge on debt financial assets increased to RUB 14.132bn from RUB 11.409bn; operating expenses declined to RUB 14.708bn from RUB 20.800bn.

• Basic and diluted EPS was RUB 0.41 for H1 2026 vs RUB 0.15; Q2 EPS was RUB 0.01 vs RUB 0.11.

Outlook and guidance

• In H1 2026, the CBR lowered its key rate from 16% to 14.25%; it cut the rate to 14% in July while retaining tight monetary conditions to curb inflation.

• Management cautioned that future Russian business conditions may differ from its assessment; operations were described as non-seasonal and non-cyclical.