Sber presented its development strategy until 2029

Sber presented its development strategy for 2027-2029. The main priorities are to ensure a return on equity of at least 21% annually and to maintain dividend payments of 50% of net profit, the bank's press service said.

The financial model of the strategy provides for large-scale investments in technological development. The bank intends to use AI to generate new sources of income. Sber sees the main opportunities in further personalization of traditional financial products, as well as in the development of corporate solutions based on generative AI for partners.

"By 2029, Sber's strategic goal is to become one of the leading architects and builders of the agent economy in Russia. Technology should help people both in solving everyday tasks and in realizing life goals. We strive to give people the opportunity to better understand themselves, make informed decisions and reach their potential — in work and in their own business, in family, creativity, studies and relationships with other people," said Herman Gref, President and Chairman of the Management Board of Sberbank, as part of Investor Day.

At the same time, Sberbank expects that the use of AI will help improve the bank's internal efficiency and curb the growth of traditional items of expenditure. This will keep the ratio of operating expenses to income (CIR) in the range of 32-35% over the next three years, the bank noted.

The strategy also takes into account the scenario of restrained economic growth. According to forecasts of Sber, the average annual GDP growth in 2027-2029 will be about 1.5%, and inflation will stabilize near the target values of the Central Bank in 2028-2029. According to the bank, such conditions will create prerequisites for lowering the key rate below 10% in 2028.

Against the background of the gradual softening of the PREP, Sber expects a moderate decrease in the net interest margin, which will remain above 5.5% by the end of 2029. According to the bank's forecasts, the growth of net commission income over a three-year horizon will not exceed the rate of inflation. The cost of credit risk is gradually normalizing to about 1%.