The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Sberbank targets e-commerce dominance

Russia’s big state bank wants to be the leading player in the country’s fast-growing e-commerce sector. It could succeed.

The logos of Sberbank's ecosystem companies are displayed on an office window

Not content with its stranglehold on the Russian retail banking market, Sberbank now aims to dominate every aspect of the digital life of consumers in its home market.

A new three-year strategy, launched in December, envisages the extension of the state-controlled bank’s reach into non-financial sectors, from education and healthcare to analytics and cybersecurity – a business model the bank’s management is calling B2C2B2G (the G stands for government).

For the moment, however, the priority is e-commerce.

Undeterred by previous setbacks in the sector, including a failure to buy local player Ozon last autumn, Sberbank’s management has once again set its sights on a leading position in this underpenetrated and fast-growing market.

“The pandemic gave a huge push for e-commerce penetration, so we believe it’s a great segment to be in,” says Alexandra Buriko, who took over as CFO in July.

The pandemic gave a huge push for e-commerce penetration
Alexandra Buriko, Sberbank

Sberbank’s new target is to be number three in the sector by 2023, by which time it expects the total market to have grown to R4 trillion ($53.4

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree