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About the company Sberbank

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Sberbank is the largest bank in Russia and one of the country's oldest financial institutions: its history is counted from the savings offices established by a decree of 1841. Today it is not only a bank but also a group of technology services, from food delivery to cloud computing. Its ordinary and preferred shares trade on the Moscow Exchange under the tickers SBER and SBERP.

What the company does

The bank's main source of earnings is its interest margin: the difference between what it receives on the loans it has issued and what the money it has raised costs it. Sberbank's advantage here is structural: a significant part of its liabilities consists of current accounts and retail deposits, which are cheaper than market borrowing. The wider the gap between the cost of money and the rate at which it is lent out, the more the bank earns.

The second most important line is fee and commission income: cash and settlement services, acquiring, transfers, brokerage and insurance products. This income requires almost no capital and depends less on the phase of the credit cycle, which is why the bank has been steadily increasing its share.

The third layer is the non-financial services of the ecosystem. Their contribution to profit is not yet comparable with that of banking, but they serve a different purpose: they keep the customer inside the perimeter more cheaply than advertising does.

Business lines

  • Retail business

    Lending to individuals — mortgages, consumer loans, credit cards — and deposit-taking. The most mass-market part of the business and the main source of cheap funding.

  • Corporate business

    Lending to companies, settlement services, payroll schemes, trade finance. Ticket sizes here are larger and the risk is more concentrated: the problems of one large borrower show up in the financial statements immediately.

  • Transaction and fee business

    Acquiring, transfers, account servicing. Income that requires no capital and is only loosely tied to the credit cycle.

  • Ecosystem

    E-commerce, delivery, media services, a cloud platform, artificial intelligence development. A business line that costs money today for the sake of retaining the customer tomorrow.

History

  1. 1841Savings offices are established by a decree of Emperor Nicholas I — the point from which the bank traces its history.
  2. 1991After the collapse of the USSR, the Russian branches of the savings office system are reorganised into the joint-stock Savings Bank.
  3. 2007A large share offering, after which the stock becomes the most liquid on the Russian market and remains so to this day.
  4. 2008–2010The global financial crisis: provisions for bad debts eat into profit, and the bank goes through the first serious stress test of its modern history.
  5. 2010-еA technology overhaul programme: a proprietary platform, a mobile app, the abandonment of paper-based document flow. From a "bank with queues", the institution turns into one of the most digital in the country.
  6. 2020The controlling stake passes from the Bank of Russia to the government; the bank publicly moves from the "Sberbank" brand to the broader "Sber", formalising its pivot towards the ecosystem.
  7. 2022Blocking sanctions cut the bank off from external capital markets and international settlements; foreign assets and some projects are wound down.
  8. 2023A return to profit on a historic scale and the resumption of dividend payments after a year-long pause.

Business review

Strengths and weaknesses describe the business itself. Opportunities and threats describe what may happen around it.

Strengths

  • Scale that in itself lowers the cost of funding: retail money is cheaper than market borrowing.
  • A consistently high return on equity and a predictable dividend policy with a payout of half of profit.
  • A proprietary technology platform and an ecosystem of services that retain the customer more cheaply than advertising.
  • State control through the Ministry of Finance — a factor of depositor confidence in a crisis.

Weaknesses

  • Profit depends almost linearly on the key rate and the phase of the credit cycle: a rise in provisions cuts it quickly.
  • Size limits the pace: a bank that is itself a third of the market physically has nowhere to grow faster than the market.
  • Sanctions restrictions have cut off external capital markets and foreign-currency settlements.
  • The regulatory burden and social obligations limit freedom in pricing.

Opportunities

  • A further shift of income into the fee and transaction business, which requires no capital and depends less on the phase of the rate cycle.
  • Monetisation of the technology platform beyond the bank: cloud services and artificial intelligence models are sold to other companies.
  • The exit of foreign banks and some competitors from the market has freed up customer niches, which go to the remaining large players.
  • Monetary policy easing makes funding cheaper and revives lending — mortgages above all.

Threats

  • A turn in the credit cycle: rising overdue loans force the bank to book additional provisions, and profit shrinks faster than income grows.
  • A prolonged period of a high key rate squeezes demand for credit and reprices the cost of liabilities faster than the yield on assets.
  • Regulatory restrictions — capital buffers, limits on borrowers' debt burden, caps on fees — narrow the room for manoeuvre in pricing.
  • The sanctions regime closes off external capital markets and foreign-currency settlements, leaving only domestic sources of growth.

Frequently asked questions

What does Sberbank do?

It is a universal bank: it takes deposits from individuals and companies and issues loans — mortgage, consumer, corporate — and also handles settlements and payments. A group of non-financial services has been built around the banking core: delivery, e-commerce, media, a cloud platform.

Who owns Sberbank?

The controlling stake is held by the state — since 2020 it has been managed by the government through the Ministry of Finance. The remaining shares are traded on the exchange and belong to private and institutional investors.

What is the difference between SBER and SBERP shares?

SBER shares are ordinary shares and carry the right to vote at the shareholders' meeting. SBERP shares are preferred: they usually carry no vote, but they have priority when dividends are paid. At Sberbank the dividend on both types of shares has historically been the same, so the difference comes down to the price of the stock and the voting right.

Does Sberbank pay dividends?

Yes, the dividend policy provides for distributing around half of net profit under international reporting standards, provided capital adequacy is above the set threshold. The specific amounts and record dates change every year — they are collected in the dividend section of this profile.

What does the bank's profit depend on?

Above all on the interest margin — the difference between lending and funding rates — and on the volume of provisions for possible loan losses. That is why the bank's result is closely tied to the key rate and to the state of the economy: in a crisis provisions grow and eat into profit even when income is unchanged.

Information as of 20 August 2026

Business description and risk factors. Not investment advice.

Issuer profile

What the company does

The company is classified under the «Banks» sector, using the taxonomy we apply when comparing securities with one another.

The same sector holds 12 issuers on the platform, and their figures are computed by one method — so this company's revenue, profit and leverage can be compared with them directly.

The company is registered in Russia and identified in regulatory disclosure by tax number 7707083893. That number locates its statements in state registries regardless of how its name is spelled — and the spelling differs even between official documents.

Listed securities

The issuer has 235 securities listed: 2 share classes, 233 bond issues. All are shown on this page, including those trading in different modes and different currencies.

A further 12 securities have already matured or been delisted. They stay in the list below deliberately: together they show how long the company has been borrowing on the market and how regularly it repays.

Across Moscow Exchange quotation list levels the securities split as follows: 10 at level 1, 4 at level 2, 212 at level 3. The level reflects how strict the disclosure, turnover and track-record requirements the issue meets are — not how attractive the investment is.

Bond issues

The nearest issue matures on 21 October 2026 and the farthest on 15 March 2032. That spread means the issuer borrows both short and long, and the yields of these issues will differ for the simple reason that the money is lent for different terms.

The largest issue by face value is RU000A102HC1, with a face value of 10,000,000.00 ₽ per bond, maturing on 11 March 2031. Bond prices in the order book are quoted as a percentage of face value, so a quote of 98.4 means 98.4 % of that amount rather than an absolute price.

Dividend history

Between 2019 and 2026 the issuer made 15 payouts whose record date has already passed. A board recommendation or a forecast does not enter this history, because no money has been paid on them yet.

The most recent payout was 37.64 ₽ per security with a record date of 20 July 2026. That is the amount before tax: the broker withholds it on crediting, so less arrives in the account.

Payouts were made on several of the issuer's securities — 2 securities of them. Ordinary and preferred shares may carry different dividends, and they cannot be treated as one figure.

Financial statements

The most recent annual report we hold is for 2026 under RAS. The standard is named for a reason: IFRS and RAS compute the same quantities by different rules, disagree by design and are never averaged.

Net income for 2026 was 491.00B ₽.

Equity stands at 8.63T ₽ against total assets of 65.14T ₽. The difference between the two is the company's liabilities, and the larger it is relative to equity, the more the business depends on borrowed money.

This section is assembled from our own data on the company's securities, dividends and financial statements. It is a description, not a recommendation.

Securities of this issuer

Shares2

Bonds245