SberFirst: transformation, new investment products and behavior of wealthy customers on security market

Oct 13, 2020

Over the past three months, SberFirst’s wealthy customers have actively invested in the stock market, took part in SberFirst ecosystem’s events and began to spend significantly more on travel, restaurants and clothing, compared to the first half of the year.

Maria Podenko, Head of SberFirst:

“We can see how customers enter the stock market more actively. The ruble-denominated turnover on MOEX amounted to RUB 691.3 bln last year and exceeded RUB 1 tln while increasing by 45% in the nine months of 2020. The number of transactions also increased to RUB 4.78 mln from RUB 2.86 mln. The total investment portfolio of SberFirst has already exceeded RUB 1.1 tln. This result shows that our customers can find opportunities to increase their capital in any situation, look for new solutions and are not afraid to risk. SberFirst provides appropriate services and infrastructure to do it. We support our customers’ activity and interest in the securities market and provide them with educational programs at Academy of the First, where participants are trained in a systematic and conscious approach to investing. Experts explain customers how to choose the right strategy, how to search for and evaluate financial assets for profitable investments, how to create your personal balanced investment portfolio.”

The investment portfolio of SberFirst customers has grown by RUB 71.8 bln or 6.9% since June, and the portfolio of brokerage services increased by RUB 55.7 bln or 7.5%. As much as 48% of SberFist customers invest in bonds that is reflected in the overall structure of SberFirst’s investment portfolio, in which bonds account for 78%. Customers of the premium segment continue to be risky in three months, the stock share in the portfolio increased to 20% from 18.3%, and the number of customers willing to risk increased to 32% from 30%. Since early September, there has also been an increase in the volume of conversion operations. Today, customers buy twice as much currency as they sell.

SberFirst and Sber Asset Management have launched the first Russian line of investment strategies for trust management named My Capital. The new strategies are of the Target Date Strategy type and enable the investor to generate the desired capital by a specific date. The line includes strategies denominated in ruble and foreign currency with maturity dates in 2025, 2030, 2035 and 2040.

Spending of wealthy customers returned to the February-March level in August-September. It grew significantly in those categories that were inaccessible or not required in the first half of the year such as tourism, restaurants, clothing. If these categories accounted for 13-15% of spending in April-May, this result was almost 40% in August-September. At the same time, expenses on electronics, goods for the house, repairs and interior, which previously showed growth, decreased by 34%.

Ecosystem for SberFirst customers

The visual image of SberFirst has changed along with the general transformation of Sber. You can see the new logo and color scheme on the home page of the official website of SberFirst and visit the renewed premium office at 19, Vavilova in Moscow.

SberFirst has launched several projects aimed to make informed investments, educate and improve the quality of life of customers since July.

Club of the First, the largest business community in Russia, uniting 380 entrepreneurs and top managers of medium and large businesses, held a breakfast on Biohacking in 2020 as Business and Life Style together with RBC Style and INFINITI. The meeting participants discussed the main principles of biohacking, how it differs from traditional medicine and whether the marathons that have become so popular lately are useful.

Academy of the First held the How to Hire and Retain the Best HR workshop, which was attended by over 70 people. During the two days of the workshop, they talked about the modern and most effective approaches to team building, the participants shared their personal experience of team management and received an expert assessment of their strategy from the owners and top officials of large companies. The number of participants in the online workshop of the academy on How to Increase Capital Systematically, Become Rentier and Live on Passive Income, dedicated to improving financial literacy, is growing.

SberFirst is a premium banking service with exclusive solutions to create wealth and comfort in everyday life. SberFirst privileges include premium bank cards, savings accounts with higher rates, a concierge service, preferential foreign exchange rates, insurance and investment products, and access to First Club, the biggest business community of top executives and business owners. SberFirst services are available across 150 branches throughout Russia.