MOSCOW, January 17. /TASS/. Sberbank maintains its target on dividend payments for 2023 of at least 50% of net profit under International Financial Reporting Standards (IFRS), Senior Vice President, head of the bank’s finance department Taras Skvortsov said.

"Our target of 50% on the group as dividends persists," he told reporters, adding that Sberbank expects a strong IFRS result for last year.

Russia’s top lender published its financial results for 2023 under Russian Accounting Standards (RAS) earlier on Wednesday, posting a five-fold increase in net profit to 1.493 trillion rubles ($16.8 bln).

On December 6, Sber presented a new strategy for development of its business through 2026. Its financial targets include ROE (return on equity) above 22% per annum, capital adequacy ratio (N20.0) above 13.3%, and dividends payouts of 50% of net profit.