Sberbank of Russia (SBER) Q4 2025 earnings summary

Executive summary

• Net profit for 2025 rose 7.9% year-over-year to RUB 1,705.9 bn, with ROE at 22.7%, surpassing targets despite challenging macroeconomic conditions.

• Maintained leadership in retail and corporate banking, expanded digital ecosystem, and topped global acquirer rankings.

• Retail client base expanded to 110.7 mn active users, with SberPrime subscribers at 22.9 mn.

• AI and digital transformation were central, with significant investments in GenAI and proprietary models, driving operational efficiency and new product development.

• Total assets increased to RUB 68,814.5 bn as of year-end 2025.

Financial highlights

• Net profit increased by 7.9% YoY to RUB 1,705.9 bn; ROE at 22.7%.

• Capital grew by 16% to RUB 8.4 trn; capital adequacy ratio rose to 13.7%.

• Net interest income rose 18.6% YoY to RUB 3,556.0 bn; EPS increased to RUB 77.81.

• Retail loan portfolio grew 6% to RUB 19.2 trn; mortgage portfolio up 11.6% to RUB 12.5 trn.

• Corporate loan portfolio increased 15.4% to RUB 31.2 trn; retail deposits up 22.1% to RUB 33.5 trn.

Outlook and guidance

• 2026 GDP forecast revised upwards to 1–1.5%; expectations for corporate lending and customer funds growth raised.

• Target ROE of 22% and capital adequacy ratio of 13.3% maintained for 2026.

• Commitment to 50% dividend payout from net profit for 2025; future strategy to be presented in December.

• Management focused on sustainability and adaptation to uncertainty, monitoring macroeconomic and geopolitical risks.

• Targets for 2026 reaffirmed, focusing on scaling AI solutions and enhancing business efficiency.