Frontierby eninvs

Language: EN · RU

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Sberbank RUB

At a glance: strengths & risks
✓Revenue growing (+14%)✓Strong ROE (21%)✓Book value growing (+28%)✓Dividend yield above fair (15% vs 11%)

Sector: Financial Services

RU_SBER

Price chart

263.61 RUBDay -0.06%

Key metrics

Market

Price
263.61 RUB · -0.06%
Market cap
6013.8 bn RUB

Growth

Δ NII y/y
18.2%
Δ net profit y/y
16.5%

Multiples

P/E (LTM)
3.4x
3y avg: 3.8x
P/B (FY)
0.7x
3y avg: 0.9x
P/E (ann.)
3.0x

Returns

Dividend yield
10.8%
ROE (annualized)
24.0%
ROI (ROE ÷ P/B)
32.7%

Value creation

annualized net income / market cap (return on equity value)
Banking potential
+28.2%
↓ details

Liquidity

Daily turnover (MOEX)
12.1 bln RUB

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B RUB, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusNet interest incomeB RUBNet profitB RUBAssetsB RUBEquityB RUBROE (annualized)Source
2026-03-31Q1 2026 (3M)OK984.3
y/y 18.2%
507.9
y/y 16.5%
69034.7
y/y 14.9%
8721.4
y/y 16.6%
24.0%Report (PDF)
2025-12-31Q4 2025 (3M)OK988.2
y/y -50.5%
398.6
y/y 12.9%
68814.5
y/y 24.2%
8201.6
y/y 27.8%
21.4%Report (PDF)
2025-09-30Q3 2025 (3M)OK893.6
y/y 17.3%
448.3
y/y 9.0%
64473.8
y/y 9.3%
7722.4
y/y 17.0%
8.0%Report (PDF)
2025-06-30Q2 2025 (3M)OK841.8
y/y 18.0%
422.9
y/y 1.0%
61468.6
y/y 10.9%
7267.3
y/y 16.0%
22.9%Report (PDF)
2025-03-31Q1 2025 (3M)OK832.4
y/y 18.9%
436.1
y/y 9.7%
60107.4
y/y 13.2%
7479.1
y/y 10.7%
25.1%Report (PDF)
2024-12-31Q4 2024 (3M)OK1996.5
y/y 171.2%
353.1
y/y -1.8%
55427.6
y/y 6.0%
6415.3
y/y -0.3%
24.3%Report (PDF)
2024-09-30Q3 2024 (3M)OK762.1
y/y 14.1%
411.1
y/y -0.1%
59002.0
y/y 19.8%
6602.0
y/y 9.1%
8.5%Report (PDF)
2024-06-30Q2 2024 (3M)OK713.2
y/y 19.3%
418.7
y/y 10.1%
55427.6
y/y 20.1%
6267.0
y/y 8.6%
25.7%Report (PDF)
2024-03-31Q1 2024 (3M)OK699.9
y/y 24.4%
397.4
y/y 11.3%
53105.0
y/y 21.2%
6754.0
y/y 13.2%
24.1%Report (PDF)
2023-12-31Q4 2023 (3M)OK736.3
y/y —
359.7
y/y —
52307.2
y/y —
6434.0
y/y —
24.2%Report (PDF)
2023-09-30Q3 2023 (3M)OK667.9
y/y —
411.4
y/y —
49267.1
y/y —
6050.5
y/y —
9.3%Report (PDF)
2023-06-30Q2 2023 (3M)OK597.6
y/y —
380.3
y/y —
46143.7
y/y —
5769.6
y/y —
25.9%Report (PDF)
2023-03-31Q1 2023 (3M)OK562.8
y/y —
357.2
y/y —
43827.1
y/y —
5965.3
y/y —
—Report (PDF)

Income statement (bank, IFRS)

IFRS decomposition: interest, fee and trading result with provisions, costs and the recurring/non-recurring profit split (bn RUB). Source: eninvs.com.

Item, bn RUB202320242025YoY
Interest income4 5057 5049 646 +29%
Interest expense-1 941-4 505-6 090 -35%
Net interest income2 5653 0003 556 +19%
Credit-loss provisions-235-443-647 -46%
NII after provisions2 3292 5572 909 +14%
Fee & commission income1 0751 1721 217 +4%
Fee & commission expense-311-329-383 -16%
Net fee & commission income764843834 -1%
Financial instruments & investment result-37.2-23.5146 +723%
Other operating income, net-604-760610 +180%
Non-core activities, net372506563 +11%
Operating income3 6394 1724 773 +14%
Administrative & other expenses (SG&A)-924-1 063-1 237 -16%
Profit before tax1 9852 0352 250 +11%
Income tax-476-454-544 -20%
Net profit1 5091 5801 706 +8%
of which recurring1 5371 5991 595 -0%
of which non-recurring-28.3-18.3111 +708%
Key ratios (annual)
ROE24.9%23.5%22.4% -1.1 pp
Cost of risk (CoR)0.70%1.09%1.41% +0.3 pp
Cost-to-income (CIR)25.4%25.5%25.9% +0.4 pp
Net interest margin (NIM)5.45%5.30%5.48% +0.2 pp

Quarterly dynamics & ratios

ROE = net profit ×4 / avg equity; CoR = provisions ×4 / avg credit portfolio; CIR = admin expense / operating income; NIM = NII ×4 / avg assets.

Quarter24/06
Q2		24/09
Q3		24/12
Q4		25/03
Q1		25/06
Q2		25/09
Q3		25/12
Q4		26/03
Q1
P&L, bn RUB
Net interest income713762824832842894988984
Provisions-122-113-160-153-212-170-111-161
Net fee income210218231203195216219204
Financial instruments & investment-25.0-46.342.732.268.431.314.439.2
Non-core activities132134124136133135158136
Operating income1 0031 0681 1441 1051 1391 2091 3201 269
Admin (SG&A)-253-274-308-262-293-309-374-305
Net profit419411353436423448399508
Balance (period-end), bn RUB
Credit portfolio40 08542 72543 84243 30743 82446 08847 97349 094
Securities portfolio (bonds)8 0508 1017 0188 5429 3889 81510 94411 314
Customer deposits40 84542 86244 62345 27346 13447 87749 37449 846
Other assets7 2938 1769 9968 2588 2568 5719 8988 627
Total assets55 42859 00260 85560 10761 46964 47468 81469 035
Equity6 2676 6027 0267 4797 2677 7228 2028 721
Key ratios (annualised)
ROE (annualised)25.7%25.6%20.7%24.1%22.9%23.9%20.0%24.0%
Cost of risk (CoR)1.25%1.09%1.47%1.41%1.94%1.52%0.95%1.33%
Cost-to-income (CIR)25.2%25.7%26.9%23.7%25.7%25.5%28.3%24.0%
Net interest margin (NIM)5.26%5.33%5.50%5.51%5.54%5.68%5.93%5.71%

Monthly operating statistics (RAS, bank charter)

<div class='muted' style='font-size:.72rem;line-height:1.2'>144.9 bln mo</div> source: CBR

Bank potential breakdown (Return per share)
ReportedForecastMonthly ×12
Reporting periodQ1 2026
RAS profit, quarter months
Jan 2026 161.7 bln
Feb 2026 162.8 bln
Mar 2026 166.4 bln
Jan 2026 161.7 bln
Feb 2026 162.8 bln
Mar 2026 166.4 bln
RAS profit, following months
Apr 2026 166.8 bln
May 2026 169.4 bln
Forecast profit change (×1.02)+2%
Annualised profit, mln RUB2.0 trn2.1 trn2.0 trn
Book (equity)8.7 trn8.7 trn8.7 trn
ROE (annualised)23%24%23%
Price / Book0.83x0.83x0.83x
Potential [ROE / P/B]+28%+29%+28%
Card headline: avg of Forecast & Monthly+28%

Potential = annualised net profit / market cap (= ROE / P/B). 'Reported' is the last IFRS quarter annualised; 'Forecast' adjusts it for seasonality from the latest monthly RAS data (multiplier X = profit of the most recent months / profit of the quarter's months); 'Monthly ×12' annualises the latest RAS month. RAS = parent bank charter, IFRS = group; the bases differ, so the forecast is a momentum indicator.

PeriodNet interest income (YTD)Pre-tax profit (YTD)Net profit (YTD)
Jun 2026 📄 PR1.8 trn
+25.3% y/y · 321.3 bln mo +27.4%
1.3 trn
+27.9% y/y · 237.8 bln mo
995.3 bln
+20.4% y/y · 168.1 bln mo +17.0%
May 2026 📄 PR1.5 trn
325.6 bln mo
1.1 trn
236.2 bln mo
827.2 bln
169.4 bln mo
Apr 2026 📄 PR1.2 trn
+22.5% y/y · 292.6 bln mo +26.8%
865.9 bln
+26.0% y/y · 239.5 bln mo +37.2%
657.8 bln
+21.3% y/y · 166.8 bln mo +21.0%
Mar 2026 📄 PR861.4 bln
+21.1% y/y · 305.0 bln mo +27.7%
626.4 bln
+22.2% y/y · 211.5 bln mo +21.6%
491.0 bln
+21.4% y/y · 166.4 bln mo +21.3%
Feb 2026 📄 PR556.4 bln
+17.7% y/y · 264.9 bln mo +9.9%
414.9 bln
+22.4% y/y · 209.9 bln mo
324.6 bln
+21.4% y/y · 162.8 bln mo +21.1%
Jan 2026 📄 PR291.5 bln
291.5 bln mo
205.0 bln
205.0 bln mo
161.7 bln
161.7 bln mo
Dec 2025 📄 PR3.1 trn
297.5 bln mo
2.1 trn
159.6 bln mo
1.7 trn
125.9 bln mo
Nov 2025 📄 PR2.8 trn
283.2 bln mo
2.0 trn
188.6 bln mo
1.6 trn
148.7 bln mo
Oct 2025 📄 PR2.5 trn
277.0 bln mo
1.8 trn
189.6 bln mo
1.4 trn
149.6 bln mo
Sep 2025 📄 PR2.2 trn
274.1 bln mo
1.6 trn
190.5 bln mo
1.3 trn
150.3 bln mo
Aug 2025 📄 PR2.0 trn
256.0 bln mo
1.4 trn
187.7 bln mo
1.1 trn
148.1 bln mo
Jul 2025 📄 PR1.7 trn
263.0 bln mo
1.2 trn
183.7 bln mo
971.5 bln
144.9 bln mo

Balance sheet & capital (issuer press release)

Period-end balances + capital adequacy + profitability. Extracted from the issuer's monthly press release (LLM parsing).

PeriodCorporate loansRetail loansCorporate depositsRetail depositsTotal capitalN1.0 ratio, %N1.1 (CET1), %N1.2 (T1), %ROE (YTD), %Cost/Income, %
Jun 202631.1 trn19.8 trn12.7 trn34.2 trn8.7 trn14.6%12.0%12.2%23.0%25.7%
May 2026————————21.1%—
Apr 202631.1 trn
+14.2% y/y
19.4 trn
+10.4% y/y
12.3 trn
+7.5% y/y
34.3 trn
+17.6% y/y
8.3 trn14.3%12.2%12.4%23.4%25.9%
Mar 202631.0 trn
+13.7% y/y
19.2 trn
+9.8% y/y
12.6 trn
+2.0% y/y
33.7 trn
+19.5% y/y
8.2 trn14.1%12.3%12.5%23.6%24.4%
Feb 202630.4 trn
+12.1% y/y
19.1 trn
+9.7% y/y
13.3 trn
+1.2% y/y
33.4 trn
+20.5% y/y
8.0 trn13.8%11.5%11.8%24.1%24.6%
Jan 202630.1 trn19.1 trn12.4 trn32.7 trn7.8 trn13.8%11.7%12.0%23.2%23.3%
Dec 202530.4 trn18.8 trn12.3 trn33.1 trn7.7 trn13.5%11.6%11.9%22.1%29.5%
Nov 202530.2 trn18.6 trn12.9 trn31.2 trn7.6 trn13.2%11.7%12.0%22.5%28.7%
Oct 202530.0 trn18.3 trn12.7 trn30.8 trn7.4 trn12.8%9.6%9.9%22.4%28.6%
Sep 202529.4 trn18.1 trn12.7 trn30.1 trn7.3 trn12.9%9.8%10.1%22.4%28.3%
Aug 202528.5 trn17.9 trn12.8 trn29.9 trn7.2 trn12.8%10.0%10.3%22.2%28.7%
Jul 202527.9 trn17.6 trn12.3 trn29.8 trn7.1 trn12.8%10.1%10.4%22.1%28.8%

Dividend potential

Dividend-model upside: +44%

The payout is forecast from smoothed profit × payout ratio, capped by free cash flow (developers exempt — escrow) and floored at the recent actual dividend (companies hold payouts while profitable). Fair yield = key rate + the historical yield-spread to the rate (so growers that historically traded below the rate score higher). Upside = fair price / current − 1.

1 · Forecast dividend (per policy)
Smoothed net profit (median YTD-ann./LTM/FY)1778 bn RUB
Payout ratio49%
Recent actual dividend (3-yr median)37.64 ₽
= Forecast dividend per share40.33 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.2%
Historical yield spread to rate (3-yr median)-6.4 pp
= Fair dividend yield (bank floor ≈ rate−3.5)10.8%
3 · Valuation → upside
Current price262 ₽
Forecast dividend yield15.4%
Fair price (dividend-based)376 ₽

Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.

Dividend history

Paid, trailing 12-mo: 37.64 RUB/sh · 14.4%

Pay yearDividend /sh
202637.64 ₽
202534.84 ₽
202433.30 ₽
202325.00 ₽
202118.70 ₽
202018.70 ₽
201916.00 ₽
201812.00 ₽
Payments by period
PeriodEx-date/sh
2026 q32026-07-1737.64 ₽
2025 q32025-07-1734.84 ₽
2024 q32024-07-1033.30 ₽
2023 q22023-05-0925.00 ₽
2021 q22021-05-1018.70 ₽
2020 q42020-10-0118.70 ₽
2019 q22019-06-1116.00 ₽
2018 q22018-06-2212.00 ₽
2017 q22017-06-126.00 ₽
2016 q22016-06-101.97 ₽

Dividends

No dividend rows found for this issuer.

Trading microstructure: order book & tape

Share of volume initiated by buyers (crossing the spread):
1d: 53% buy — balanced5d: 53% buy — balanced20d: 49% buy — balanced

Iceberg levels last session: 1 bid / 3 ask; largest — ask 264.26 (filled ×10.0 of displayed, 106 refills).
Robot clips (recurring characteristic order size): 19 bid / 20 ask; largest — ask 397 lots ×999 appearances across 306 price levels. Ping probes (1-2 lots, typical iceberg hunting): bid ×924, ask ×1135.

DayBuyer initiativeIcebergs bid/askRobots bid/askTrades
23.0753%1/319/20122,661
22.0755%1/518/20140,679
21.0753%3/931/37164,429
20.0754%11/929/33265,551
17.0752%9/837/30182,723

Source: L2 order book + trade tape (TQBR main session, ~23 liquid names). Trade side = the aggressor crossing the spread. Iceberg = level filled a multiple of its displayed size with regular refills. Robot clip = a non-round order size recurring hundreds of times across dozens of price levels (an algo's fingerprint migrating with price); ping = 1-2 lot probe orders. Updated nightly.

Corporate events

30.06.26Filing★ Дата определения (фиксации) лиц, имеющих право на осуществление прав по ценным бумагам эмитента
ПАО Сбербанк объявило дату фиксирования прав акционеров на получение дивидендов. Дата фиксирования - 20 июля 2026 года. Акции, на которые распространяется данное решение, включают обыкновенные и привилегированные именные акции.
23.07.26Material eventСобытия (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
22 июля 2026 года ПАО Сбербанк объявил, что дополнительный доход по биржевым облигациям серии ИОС_PRTACm_MOEXMM-5Y-001Р-610R составит 0,00 руб. на облигацию, что означает отсутствие выплаты дополнительного дохода 10 августа 2026 года.
30.06.26AGM / BoardРешения общих собраний участников (акционеров)
На общем собрании акционеров ПАО Сбербанк, состоявшемся 30.06.2026, был утвержден годовой отчет за 2025 год, а также принято решение о распределении прибыли с выплатой дивидендов по 37,64 руб. на акцию. Общая сумма чистой прибыли составила 1,68 трлн. руб., из которых 850,17 млрд. руб. направлено на дивиденды.

Source: e-disclosure material filings over the last 180 days; ★ — flagged important by the classifier; summaries are automatic.

RU equity fund ownership

Disclosed in the top-10 of 15 of 17 funds, ≈8,3 млрд ₽ combined. Last month: added — 5, entered top-10 — 1.

FundManagerWeight≈PositionΔ weight m/mDisclosure
EQMX Индекс МосБиржиВИМ Инвестиции13.91%1,6 млрд ₽+0.65 pp29.05.2026
SBMX Первая - Фонд Топ Российских акцийПервая13.88%2,4 млрд ₽+0.54 pp29.05.2026
TMOS Т-Капитал Индекс МосБиржиТ-Капитал13.84%1,7 млрд ₽+0.60 pp29.05.2026
AMRE АТОН – Российские акции +Атон-менеджмент9.85%60 млн ₽—29.05.2026
TRND Т-Капитал Трендовые акцииТ-Капитал9.66%48 млн ₽—29.05.2026
AKIE Альфа-Капитал Управляемые акции с выплатой доходаАльфа-Капитал9.44%29 млн ₽—29.05.2026
AKME Альфа-Капитал Управляемые акцииАльфа-Капитал9.17%1,2 млрд ₽—29.05.2026
BCSR БКС Индекс Российского рынкаБрокеркредитсервис8.43%24 млн ₽—29.05.2026
TRUR Т-Капитал – Стратегия вечного портфеля в рубляхТ-Капитал7.29%1,3 млрд ₽—29.05.2026
AKUP Альфа-Капитал Умный портфельАльфа-Капитал6.97%20 млн ₽—29.05.2026
SBPS Первая – Фонд Моя цель 2035Первая6.54%10 млн ₽+1.01 pp29.05.2026
TITR Т-Капитал Акции роста (new)Т-Капитал5.79%16 млн ₽+5.79 pp29.05.2026
SBRI Первая - Фонд Ответственные инвестицииПервая4.53%6 млн ₽—29.05.2026
SCFT Технологии будущегоДоверительная4.48%0 млн ₽—29.05.2026
DIVD ДОХОДЪ Индекс дивидендных акцийДОХОДЪ3.85%34 млн ₽—29.05.2026

Source: monthly fund portfolio disclosures (investfunds); NAV is daily. Disclosures list each fund's top-10 only, so absence does not mean no position. Weight changes mix revaluation with trading. Fund flows and betas live in the fund monitor on the RU region page.

Investment-community mentions

Substantive mentions last 7 days: 7 (3 positive, 1 negative), last 30 days: 17 (11 positive, 1 negative) across tracked channels, broker research and shows. 43 passing mentions (digests, calendars) hidden.

Sources: Telegram channels (bloggers — blue chip, broker research — green), YouTube shows via transcripts (orange). Tone (▲/▼) is an automatic assessment in the stock's context. Quotes are fragmentary; authors' views are not our recommendations.

Investor reporting (IR): https://www.e-disclosure.ru/portal/files.aspx?id=3043

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Sberbank — from primary filings.

SBER is a Russian financial services company that operates as a universal bank, offering retail and corporate banking, as well as insurance and asset management services. It is the largest bank in Russia by assets and is majority-owned by the Central Bank of Russia.

Frequently asked questions

What is Sberbank's P/E ratio?
Sberbank trades at a P/E of 3.4x (price to trailing 12-month earnings).
What is Sberbank's P/B ratio?
Sberbank trades at a P/B of 0.7x.
What is Sberbank's dividend yield?
Sberbank's trailing 12-month dividend yield is 10.8%.
What is Sberbank's return on equity (ROE)?
Sberbank's ROE is 24.0%.
What is Sberbank's market capitalization?
Sberbank's market cap is 6013.8 bn RUB.