Russia's largest lender has invested some $2 billion on acquisitions and IT as it attempts to join Apple and Google on the big tech stage.
Sberbank plans to tell investors on Nov. 30 that non-banking, or ecosystem as it calls the business, will account for 5% of its total revenue in 2023 and grow to nearly a half of its total by 2030, two sources close to its supervisory board said.
The bank's return-on-equity (RoE), one of key measures of profitability, is forecast at 17% in 2023, one of the two sources said. A third source, also close to Sberbank's supervisory board, confirmed this forecast.
The sources did not say why the RoE target is smaller than the third quarter's 22.8%.
Sberbank, in which the Russian state owns a stake of 50% plus one share, declined to comment.
Non-banking, which includes Sberbank's joint venture with internet company Mail.Ru, the Rambler media group and Okko online cinema along with some other assets, currently accounts for around 1% of its revenue, with the rest from its core financial business.
Sberbank's ambitions were dealt a blow this year when its partnership with Russia's leading internet firm Yandex, its first major e-commerce push and part of its ecosystem strategy, collapsed over strategy disagreements.
Sberbank was also in talks to buy a large minority stake in online retailer Ozon, Russia's second biggest, but the deal also fell apart amid disagreements, sources told Reuters earlier this year.
Ozon has instead raised nearly $1 billion this month in what turned out to be the largest initial public (IPO) offering by a Russian company since 2017.
(Reporting by Tatiana Voronova; Writing by Katya Golubkova; Editing by Alexander Smith)
By Tatiana Voronova