Русский
Russia’s VTB Bank plans to conduct a new SPO in order to finance its partnership with Wildberries-Russ Group (RWB).
As part of the partnership agreement, VTB has agreed to purchase 5% of WB Bank’s digital financial assets. In return, Wildberries will get access to the infrastructure of the state bank. The companies expect to jointly develop financial services for marketplace and retail business clients.
According to Dmitry Pyanov, first deputy chairman of VTB, VTB is buying a minority stake in all fintech assets of the combined company Wildberries & Russ (RVB). Not only will VTB acquire a 5% stake in VTB Bank, but it will also acquire stakes in other digital, digital-related, and near-financial projects within the RWB ecosystem. VTB will be able to increase its stake in these assets, but it will remain a minority shareholder. Wildberries Bank, a subsidiary of RWB, will gain access to VTB’s infrastructure, retail branches, ATM network, and investment and other products, including mortgage lending, for its customers. This transaction was the first example of direct cooperation between a major financial institution and a leading player in the e-commerce sector in Russia, according to RWB.
It is planned to issue up to 6.29 billion additional ordinary shares, which corresponds to approximately 49% of the current number of shares. As a result of the SPO, the state’s share in the bank’s capital will remain above 50%. This means that the state will continue to have a significant influence on the management of the bank.
“The placement price is ₽87 per share, which is comparable to the weighted average market price of the bank’s shares since the beginning of the year; the funds raised under the additional issue will be used to finance the partnership with the RWB Group and the development of the bank’s core business. The additional issue will also contribute to an increase in the liquidity of the bank’s shares and create conditions for increasing their weight in the exchange’s indices,” the credit institution said in a statement.
Earlier on Tuesday, RBC, citing sources, reported that the parties had agreed on the main terms and conditions of the strategic partnership, and discussions on the details would continue in the coming months.
“The partnership will be aimed at jointly developing the retail business, developing and introducing new products, and increasing the availability of advanced financial services,” VTB said, emphasizing that it is not considering the option of “transferring” its retail network.
In 2021, Wildberries entered the banking market by acquiring Standard-Credit Bank. Tatyana Bakalchuk, the founder and CEO of Wildberries, became the owner of a 100% stake in the bank. Subsequently, it was renamed Wildberries Bank. As of 2026, VTB is the second-largest bank in Russia, with assets of approximately ₽38 trillion, (US$536 billion) while Wildberries Bank at ₽125.15 billion (US$1.8 billion) ranks 45th in terms of asset size.
