Transactions via the LCB have seen a significant increase in requests
Russia Sees Surge in SBP Transactions, With VTB Leading the Charge
Russia's System for Quick Payments (SBP) is rapidly becoming a popular choice for financial transactions, with more and more people opting for this convenient and efficient method. According to Alexei Okhorzin, the bank's spokesperson, in the second quarter of 2025, Russians made a record 4.6 billion transactions via SBP, totalling 24.8 trillion rubles.
One of the key contributors to this surge is VTB, Russia's second-largest bank. Today, every tenth translation via SBP in Russia is made to VTB. In the second quarter of 2025, the number and volume of incoming translations at VTB increased more than 2 times compared to the same period the previous year. Transactions via SBP at VTB also increased by 62% compared to the same period the previous year.
For retail customers of the state bank, translations via SBP have become a key tool for transactions between individuals and companies. The convenience, speed, and minimal fees associated with SBP transactions are likely driving this trend.
The increase in SBP transactions is not limited to the second quarter of 2025, but is a trend observed over time. SBP has become a mass and integral part of Russians' lives for both translations and payments. More than 80% of clients in the bank make translations via SBP using a phone number.
While there are no specific details available about an increase in VTB translations via SBP in Russia during Q2 2025 or comparisons to previous years, it is clear that VTB is playing a significant role in the growing popularity of SBP transactions.
For those seeking more precise data on VTB’s SBP transactions or translation volumes for Q2 2025, primary sources such as VTB’s official financial reports, SBP system usage statistics from the Central Bank of Russia, or specialized financial market data providers would be necessary.
The shift towards digital transactions in Russia is evident, with more and more people opting for the convenience and speed of SBP transactions. As this trend continues, it is likely that we will see even more growth in the use of SBP for financial transactions in the future.
What about the finance sector is causing an increase in SBP transactions? The growing popularity of SBP transactions, particularly in business, can be attributed to VTB, the second-largest bank in Russia, as every tenth SBP transaction made in Russia is to VTB and the number of incoming translations at VTB increased more than twice compared to the previous year.
