One of Russia’s leading banks, Sberbank, is significantly raising its stakes in artificial intelligence (AI) following a Ukrainian drone strike on one of its data centres in October.
While the bank reported no major disruption, the attack has reopened interest in the importance of strong IT infrastructure as it plans to incorporate it into its 2027 to 2029 strategy.
Publicised on November 12, the strategy targets an annual return on equity (ROE) of at least 21 per cent, with 50 per cent of net profit distributed to dividends.
Sberbank also reported generating 1.5 trillion roubles in AI-related revenue over three years. The financial institution also aims to invest 350 billion roubles in AI during 2026.
However, the bank faces increasing economic pressures. CEO German Gref warned that corporate loan quality had declined during the second half of 2026 and could further deteriorate, partly due to the losses connected to Ukrainian attacks.
The bank estimates that Russian economic growth of just 1.25 per cent would jump to 1.7 per cent in 2027 thanks to the investment in AI.
Ukrainian Drone Strike Highlights Infrastructure Risks
The new strategy comes to light after an October Ukrainian drone strike on Sberbank’s data centre.
According to Reuters, the bank stated, “the attack caused no major disruptions.” However, the incident emphasises the challenges confronting financial sectors that depend on technological infrastructure to keep their systems running.
The attack also comes as Sberbank faces broader economic repercussions from the war in Ukraine. Gref stressed that losses connected to Ukrainian attacks had contributed to the “deterioration in corporate loan quality.”
Sberbank Targets 21% Return on Equity
On Thursday, Sberbank underlined its financial priorities for the next three years.
Interfax reported that the bank expects an annual ROE of “no less than 21 per cent” over the strategic timeframe, along with a “capital adequacy ratio of at least 13.3 per cent.”
The Russian bank also intends to keep its dividends policy, distributing “50 per cent of IFRS net profit” to shareholders.
However, its economic projections indicate a difficult market for loans. Chief Financial Officer Taras Skvortsov warned that corporate lending would run into difficulty in 2027.
According to Interfax, Skvortsov said: “The corporate segment will be under greater pressure, particularly next year.”
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AI Becomes Central to Growth
AI is at the top of the agenda in Sberbank’s new strategy, with the institution positioning to become a major contributor to Russia’s growing AI industry.
Gref labelled technological leadership as “a matter of national sovereignty” and “survival”, emphasising the significance of advanced “AI models and resilient IT infrastructure.”
"We are not choosing between the future and the present. We intend to combine high profitability and aggressive investments in the future,” he added.
According to RBC, the bank’s main concerns include “developing AI assistants”, “providing ‘security solutions’ for interactions between AI agents” and opening its digital ecosystem to external AI agents.
However, Reuters noted that Gref did not clarify how Sberbank “would gain access” to advanced microchips due to the continued Western sanctions.
What Happens Next for Sberbank?
Sberbank’s strategy plans to balance financial performance with investment in developing technologies, despite the uncertainty of the economy and infrastructure risks.
The bank predicts an average annual Russian GDP growth of around 1.5 per cent over the next three years, according to Interfax.
As the 2027 to 2029 strategic plan gets underway, Sberbank will need to maintain profitability, manage credit risks, and strengthen its digital infrastructure while expanding its AI capabilities.
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