Sberbank shares recently tested the 300 ruble mark, reaching a four-month high. The bank's management presented a new strategy for 2027–2029, focusing on AI-driven services and the development of an agent-based economy. The company aims to become a key architect of this new economic model, where AI assistants handle routine tasks for users.
The bank's strategic priorities include developing AI assistants, creating a secure environment for inter-agent interactions, and expanding the Sber ecosystem. Management plans to maintain a return on equity (ROE) of at least 21% annually and a capital adequacy ratio of at least 13.3%. The dividend policy remains unchanged, with 50% of net profit allocated to payouts.
Sberbank's financial model for 2027–2029 assumes a GDP growth of 1.2–1.7% and inflation of 4.5–5% in 2027. The bank expects the key interest rate to drop below 10% only in 2028. Management noted that dividend payments could be suspended if a windfall tax is introduced or if the Central Bank increases capital adequacy requirements.
Market reaction to the strategy was mixed, with some investors choosing to lock in profits. Analysts from Finam and Gazprombank maintain a 'buy' rating on Sberbank shares, citing a projected dividend yield of approximately 14–15% for 2026. Experts note that while the bank remains stable, future profit growth may slow down due to rising risk costs.
