Official: Sberbank may pay at least 50% of profit in 2022 divs

MOSCOW, Feb 9 (PRIME) -- The Finance Ministry expects Russia’s top bank Sberbank to pay at least 50% of the net profit in dividends for 2022, Deputy Finance Minister Vladimir Kolychev told reporters on Thursday.

When asked whether the ministry expected the bank to pay dividends for 2022, he said, “Yes, we expect that to happen. The approach is standard, it is formalized in Sberbank’s dividend policy. It should pay no less than 50%. We will discuss it further.”

The bank’s dividend policy stipulates that it should pay at least 50% of the net profit calculated under International Financial Reporting Standards (IFRS) in dividends if its capital adequacy ratio is above 12.5%. The bank paid 50% of the IFRS net profit in dividends for 2019, 56% of the net profit in dividends for 2020, and it paid no dividends for 2021.

Sberbank CEO German Gref said in November 2022 that the bank will return to a normal state in 2023. The bank is yet to publish its financial report calculated under IFRS for 2022.

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