MOSCOW, August 16. /TASS/. The total cash compensation paid to the key management staff of Sber totaling over 600 people amounted to 28 bln rubles ($311 mln) in 2023, the bank said.

Payments comprised in particular salaries and compensations. "Short-term remuneration, including salary, bonuses, year-end remuneration and compensations paid in 2023 to key management personnel and senior management amounted to 28 bln rubles (with the personal income tax)," Sberbank said.

The bank determined the perimeter of key management personnel and senior management, according to bank’s document. These are executives having significant influence on strategy implementation and financial result and on the level of the volume of risks assumed by the bank: executive board members of Sberbank, senior vice presidents, heads of branches and other executives, totaling 650 people.

Sber disclosed compensation details last time in 2021 but for the executive board only, Sergey Suverov from Aricapital told TASS. Sber now follows the path of greater transparency and disclosed remuneration for all key senior managers. Twenty-eight billion rubles appear more than appropriate for 650 persons in conditions of record high profit, large investments in artificial intelligence, and development of advance services," the expert said.