MOSCOW, Dec 6 Reuters Russia39;s top lender Sberbank will invest more than 450 billion roubles 4.84 billion in IT in the coming three years, its financial chief said on Wednesday, as the bank continues its push to develop domestic technology solutions.

CEO German Gref, placed artificial intelligence and digital transformation at the heart of the bank39;s new threeyear strategy, as Russia adjusts to life without Western technology after sanctions over the conflict in Ukraine.

Taras Skvortsov, the bank39;s head of finance, said profits generated from artificial intelligence AI in 202426 would amount to about 800 billion roubles and that overall IT investments would increase by 112 times in that period.

Sberbank, majority owned by the Russian state, is on course for record earnings this year, bouncing back from an almost 80 drop in profits as Western sanctions rattled Russia39;s financial sector in 2022.

On the threeyear horizon we will ensure a high return on our capital, which should be above 22, Gref said. And we should ensure a high level of dividend payments, at 50 of our net profit.

Sberbank39;s return on equity ROE this year has been around 2627. The bank did not pay a 2021 dividend last year on the recommendation of the central bank and government, but announced a record 565 billion rouble 6.09 billion payout in March.

39;DIGITAL DIVIDE39;

With 108 million retail clients and 3.2 million corporates, Sberbank tends to grow in line with Russia39;s economy,…