In its published financial report, Sber reported a record net profit near 1.5 trillion rubles for 2023, a figure five times higher than the previous year.
Throughout the year, the bank expanded its customer base, strengthened its stance across major banking markets, and unveiled significant progress in artificial intelligence technologies, according to German Gref, President and Chairman of Sberbank. He described 2023 as a pivotal year for the institution and noted that the bank now sets the main directions for its strategic development.
“Building a human-centered model powered by artificial intelligence will anchor the long-term resilience of the business and create value for shareholders,” stated the chairman of Sberbank’s board of directors.
In 2023, Sber’s share price nearly doubled, and the stock was a standout in private investor portfolios, being selected by about 37% of individual investors on the Moscow Stock Exchange. Analysts from BCS Express highlighted that these shares remain among the most transparent and attractive options in the market. They also projected a potential dividend of roughly 33 rubles per share by year’s end, reflecting optimism about future cash returns.
Analyst Anna Avakimyan, chief analyst at RegBlock, attributed the strong results to high financial and operational efficiency. She noted that the return on equity stayed near historical levels, a key driver of investment appeal for Sber securities. Avakimyan added that the bank weathered a period of volatility and new sanctions with relatively small losses in 2022, a testament to its risk-management discipline.
Avakimyan emphasized that these outcomes stem from a balanced risk framework and disciplined execution. Sergey Suverov, investment strategist at Arikapital Management and an associate professor at the University of Finance under the Government of the Russian Federation, commented: “Sber’s record profits and planned dividends for 2023, combined with a technology leadership strategy, reinforce the view of the bank as a central driver for the Russian economy and the stock market.”
Suverov further remarked that the current trajectory makes it plausible to pursue a sustainable growth policy that benefits both majority and minority shareholders over many years, underscoring the bank’s capacity to sustain performance through evolving market conditions.