Shares in Russia's VTB (MOEX:VTBR) rose 1.62% on the Moscow Exchange on August 28 after the state-controlled bank said its deal with the Wildberries & Russ (RWB) group had been pushed from August to September, RBC reported.

The stock touched RUB51.615 ($0.65) at its intraday peak, recovering ground after falling to a record intraday low just below RUB50 two days earlier, more than 40% below the RUB87 price set for the share issue that is partly intended to fund the RWB partnership.

First deputy chief executive Dmitry Pyanov said VTB was not forcing the deal through, as RWB's resources were currently directed at problems linked to emergency events, an apparent reference to reported drone strikes on the retailer's warehouses. He said the terms of the deal had not been revised.

The bank will raise funds for the transaction through a previously planned additional share issue of RUB300bn to RUB400bn ($3.75bn to $5bn), Pyanov said, adding that the placement would come closer to the lower end of that range.

The anchor investor group would remain unchanged, while retail participation would be modest given the gap between the issue price and the market price.

Pyanov said VTB's net profit target for 2026 remained at RUB600bn. He said third-quarter profit would be a three-digit figure in billions of rubles, with the first digit a one, and that success in the quarter would be measured by approaching an expected RUB400bn for the group over the first nine months.

VTB's net profit for January to July fell 12.7% year on year to RUB265.6bn, according to the group's report, extending a decline that has run alongside pressure on the bank's capital adequacy across the sector.

VTB and RWB announced their strategic partnership in late May. It includes VTB acquiring a 5% stake in WB Bank, controlled by Wildberries, and in other fintech assets of the group, with control of the assets staying with the marketplace.

WB Bank gains access to VTB's infrastructure, including its ATM network and retail products, while VTB gains a route into financial services on the Wildberries platform and its customer base.

RWB is the company formed by the 2024 merger of Wildberries and outdoor advertising operator Russ.