Sberbank boosts investments in IT 1.5-fold to 450 bln rubles in 2024-2026

MOSCOW. Dec 6 (Interfax) - Sberbank has boosted investments in technology by 1.5-fold to 450 billion rubles in 2024-2026, Taras Skvortsov, the bank's vice president and director of the finance department, said at Investor Day.

"We invest in technology first and foremost. Our investments in IT will grow 1.5-fold to 450 billion rubles over the next three years. This shows how much Sber has truly become a technology company. This is certainly number one at Sberbank in terms of investment," Skvortsov said.

Skvortsov noted that all these investments are paying off, and profit from utilizing artificial intelligence technologies has been about 800 billion rubles in 2021-2023.