Sberbank report on RAS for 8 months of 2023

Sber is likely to end a year better than current profitability forecasts of 22%.

I expect profit according to the results of 2023 in the region of 1.4 trillion rubles. Forecast dividend for 2023 - 32 rubles (profitability - 12.5%). With such dividends, Sber will cost about 300 rubles.

Sber becomes uninteresting

For some reason, Sber is no longer so loved as a couple of months ago. People calmly bought Sber 270 rubles, waiting for paper at 300 rubles by the end of the year. But now they are already afraid to buy 256 rubles.

I don’t know how you, but I think that for Sberbank, correction is coming to an end. With such a chic report, it is difficult to fall.

At the moment, the paper has come to support EMA 50 - from it Sber (since October 2022) has always been repelled.

Market participants now consider Sber to be uninteresting. They think that due to the increase in the rate of the bank, the bank will fall. And the dividends will not be inherent compared to the yield of ordinary deposits.

But keep in mind that Sberbank has 300 billion rubles left in reserve since 2022, which is enough to keep the current profit level before the rate of the rate of betting.

I believe that dividends will be quite normal. According to my forecasts, in 2023 the profitability will be in the region of 12.5-13%.

The bank will develop and grow every year. According to forecasts for 2024, the bank will pay about 40 rubles. In 2024, I expected a boat at 300-320 rubles, and in 2025 already 350-370 rubles, together with the dividends paid, annual profitability can reach 20%if you take it at current prices

In general, friends, Sberus is one of the safest papers in our market. The green bank is still one of the most interesting blue chips. Therefore, on correction, I primarily buy it.

That's all, friends! Thank you for your attention.

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