Sberbank of Russia (SBER) investor relations material

Executive summary

• Net profit for H1 2026 rose 18.6% year-over-year to RUB 1,019.1 billion, with Q2 net profit at RUB 511.2 billion and ROE at 24.2%.

• Retail clients reached 110.6 million and corporate clients 3.5 million by end of Q2.

• Maintained leading market capitalization in Russia as of June 30, 2026.

• Interim consolidated financial statements for H1 2026 were reviewed and found compliant with IAS 34, with no material misstatements.

• The group operates primarily in Russia, with the Russian Federation as principal shareholder.

Financial highlights

• Net interest income for H1 2026 was RUB 2,051.1 billion, up 22.5% year-over-year; Q2 net interest income up 26.7% YoY to RUB 1,067 billion.

• Net fee and commission income for H1 2026 reached RUB 419.8 billion (+5.4% YoY); Q2 up 10.4% YoY.

• Cost-to-income ratio for H1 at 27.9%, outperforming internal guidelines.

• Total assets increased to RUB 69,141.5 billion as of June 30, 2026.

• Total equity rose to RUB 8,531.8 billion; capital adequacy ratio at 15.1%.

Outlook and guidance

• GDP growth for Russia in 2026 forecasted at 0.5–1.0%; inflation expected at 6.0–7.0%.

• Net interest margin forecast raised to around 6.2% for 2026.

• ROE guidance maintained at 22%; capital adequacy N20.0 at 13.5%.

• Management continues to monitor the impact of geopolitical tensions and sanctions.

• Demand for government-backed and market-based mortgages expected to remain strong amid changing program terms and declining interest rates.