Today, Sberbank announced that it paid 28 billion rubles in remuneration to top management for 2023. At the same time, the bank’s disclosure states that this amount is for 650 people – key management personnel. “These are executives who have a significant impact on the implementation of the strategy, the Bank’s financial results, and the level and volume of risks taken by the Bank,” the bank’s statement says.
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According to independent expert Andrey Barkhota, in the current conditions, when determining the amount of remuneration, it is necessary to take into account not only financial performance indicators, but also current concepts of sustainable development, the situation and operating environment in which the company operates, as well as the overall «problem of fair distribution of profits.» Therefore, the amount of the bonus for Sber's top managers looks reasonable.
«Sber has chosen the path of observing high standards of financial ethics and made a decision on reasonable remuneration for top management, which reflects the scale of the bank in the economy, but at the same time can hardly be regarded as excessive, given the difficult situation in the economy and the increased sanctions pressure,» said Barkhota.
He added that for long-term motivation, the bank can provide for the implementation of the best global practices, which provide for an additional motivational bonus scheme for a continuous three- or five-year development cycle, he believes. “A balanced attitude towards bonuses contributes to the recognition of Sber both from clients and from shareholder investors,” the economist concluded.
At the same time, Sber already has several long-term reward programs “to attract and retain for a period implementation of the bank’s strategy by highly qualified managers, bringing their financial interests closer to the strategic interests of the bank and its shareholders,” follows from the bank’s message. Such programs have been operating in Sberbank since 2021. The program is implemented in annual cycles and provides for the payment of remuneration over a three-year period in Sber shares.
Earlier today, Sber reported the completion of payment of record dividends for 2023. The total amount of payments amounted to 752 billion rubles or 33.3 rubles. for each share.