Russia’s second-largest state-controlled bank VTB (VTBR) has agreed on the main terms of a strategic partnership with Russia's largest e-commerce group, Wildberries, including the purchase of a minority stake in the marketplace’s digital financial assets, according to RBC business portal citing sources familiar with the negotiations and statements from VTB.

As followed closely by IntelliNews, a “megadeal” between VTB and Wildberries has been rumoured since April 2026.

Wildberries and its peer Ozon Holdings are leading the Russian market in the ongoing e-commerce consolidation. Both have strengthened their fintech verticals, to the annoyance of major banks and the Central Bank of Russia (CBR). 

In 2024, Wildberries was rocked by controversy surrounding a merger deal with Russ Group, an outdoor advertising operator reportedly controlled by billionaire Dagestan senator Suleiman Kerimov that is a tenth of the size of Wildberries. 

In 2025, as the case seemed to have settled down, Wildberries started to venture into new verticals and went on a mysterious M&A spree, covered in detail by IntelliNews.

VTB is Russia’s second-largest state-controlled bank, and it has previously been involved in many state-affiliated takeovers of assets across major industries. This is also reportedly one of the reasons for pressuring VTB’s capital. 

Having VTB strike a deal with Wildberries would also fit into a larger pattern of state takeover of e-commerce and digital assets. Previous reports also claimed that Wildberries would hire ex-deputy chairman of VTB Georgy Gorshkov to head its own new bank.

VTB has now confirmed to RBC that the first stage of the partnership involves acquiring a minority stake in Wildberries&Russ digital financial assets, while the agreement also includes the possibility of increasing the bank’s ownership stake in the future. 

The bank said the alliance represents “the first partnership in Russian history between a leading bank and the largest digital platform with a combined audience exceeding 100mn people”, as cited by RBC.

Sources cited by RBC business portal said discussions on the broad structure of the agreement were concluded during negotiations on May 22, while detailed negotiations are expected to continue after VTB’s shareholder meeting on June 30. 

Several sources said the alliance may involve joint fintech projects based on Wildberries Bank and VTB’s retail operations, including the network inherited from the recently merged Postal Bank. 

One source described the model as allowing VTB to use the marketplace’s digital sales infrastructure while Wildberries gains access to VTB’s branch network and financial infrastructure.

VTB denied plans to transfer its retail network, including branches located within Russian Post offices, but said the partnership would strengthen its retail infrastructure through cooperation with the country’s largest e-commerce platform. 

Sources on the financial market told RBC the partnership would strengthen VTB’s position in fintech and expand its retail business through integration with the Wildberries ecosystem.

RBC sources also said Wildberries Bank CEO Georgy Gorshkov is expected to return to VTB as deputy chairman of the management board with responsibility for retail business development. First Deputy Chairman Olga Skorobogatova is reportedly expected to focus on cross-border payments. VTB declined to comment on management changes.

VTB had RUB35.4 trillion ($492bn) in assets as of April 1, making it Russia’s second-largest bank after Sberbank (SBER), while Wildberries Bank ranked 49th with RUB149bn in assets. 

VTB’s capital stood at RUB2.38 trillion, versus RUB64.6bn for Wildberries Bank. VTB reported RUB502.1bn in profit for 2025 and is targeting RUB650bn in 2026, while Wildberries Bank earned RUB64bn last year.

RBC business portal also confirmed previous reports that claimed that the VTB-Wildberries alliance could resolve high-profile tensions between Russian banks and marketplaces’ emerging fintech verticals. 

Analysts and market participants commented to RBC that the partnership could benefit both sides by allowing VTB to access payment commission revenues and Wildberries’ customer base, while giving Wildberries a large financial partner capable of supporting broader fintech expansion.