Sberbank wants to enter the top 3 e-commerce market by 23Y, bringing its turnover to 500 billion rubles
MOSCOW (Reuters) - Sberbank expects to become one of the three leaders in the e-commerce market by 2023, follows from the presentations of the top management of Sberbank (MCX: SBER) at the investor's bottom.
The first deputy chairman of the state bank Lev Khasis said that while the bank aims to enter the top 3 or top 5 market leaders, but in the future it would like to become the largest player, bringing the turnover of its services in this market to 500 billion rubles.
He estimated potential investments in ecosystem companies in 2021-2023 at 4% of the bank's capital, mainly in the e-commerce segment. Now it is more than 180 billion rubles.
At the same time, the state bank wants to increase the revenue of its companies operating in the e-commerce segment by 10 times, the presentation says..
The state bank has broken partnerships in this segment several times. Yandex.Market is no longer part of the Sberbank ecosystem after the division of assets between partners, and the partnership with Mail.ru Group is questionable, sources close to both sides told Reuters, while Sberbank denied this.
Sberbank was also in talks to buy a large minority stake in online store Ozon, the second largest in Russia, but the deal fell through due to controversy. Instead, Ozon raised nearly $ 1 billion in November, making it the largest public offering of a Russian company since 2017..
The State Bank twice agreed with potential partners in addition to cooperation with Yandex (MCX: YNDX), but the projects did not reach implementation, Khasis admitted. He indicated that Sberbank wants full control over partnerships in the e-commerce segment..
For example, the state bank decided to take control of the online delivery service Sbermarket.
(Tatiana Voronova. Editor Gleb Stolyarov.)
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