Page 55 - Russia OUTLOOK 2022
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Sberbank 2021-23 Guidance
NIM (average) Net F&C growth
Revenue from non-fin digital co attr to Sber
CoR
OpEx growth (Group) CIR (Financial business) ROE
CET1R (under Basel 3.5) Dividend p/out
Operating income before provisions (NII & Non interest income from bank / Non-bank)
Corporate loans growth vs Sber
Sector retail loans growth vs Sber
Sector corporate deposits growth vs Sber
Sector retail deposits growth vs Sber
GDP %
CPI, %
Key rate
Source: Company, BCS
2021 Guidance
>5.25% >10%
Rb200bn+ 70-90bp
12-15% stable y/y >23% c14%
8-12% 20-22%
20-22%
7-9% 4.40% 7.60% 8.50%
2022 Guidance
c5.2% 11-13%
2x e-com GMV; 1.9x Foodtech rev
c80-90bp
c33% >20% >13%
7-10% >10-12%
>11-13%
6-8% 2.50% 4.50% 8.00%
2023 Guidance
c5.0%
>100% CAGR / c5% Group rev c80-90bp
9% CAGR (Group) / 5% CAGR (Fin business)
Stable vs 2020e
>20%
12.5% target / total CAR 16% 50%
68% / 32% Non-bank PPOP CAGR 15%
5-7% CAGR 2023/20 10-12% CAGR 2023/20
8-10% CAGR 2023/20 5-7% CAGR 2023/20
55 RUSSIA Russia OUTLOOK 2022
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