Sberbank plans to sell part of the ecosystem companies within two years.

“We limit the range of what we do. We have outlined a number of businesses for sale and have already begun to sell some of them or have already sold them,” said Sberbank CEO German Gref.

Specific companies and exact dates of the sale are not named. At the same time, Sberbank intends to bring another “part of the businesses” to the stock exchange. The company also plans to develop non-financial business in the CIS countries.

In the third quarter of 2021, Sberbank's loss in the non-financial business segment amounted to $203 million (13 billion rubles) against a net profit of $246.6 million (18.2 billion rubles) for the same period in 2020. At the same time, since the beginning of the year, Sberbank has invested $1 billion in its ecosystem (11.5% of the bank's net profit for the first half of the year). The company invested the same amount in the development of the ecosystem from 2017 to 2019.

In April, the Central Bank announced plans to regulate ecosystems. The regulator considered that their uncontrolled development on the basis of banks could pose a threat.

Original (in Russian)