Competing as a Strong and Independent Portuguese Bank
3
Stable YoY operating costs reflecting the continued optimisation and
simplification of the organisation and its processes,...
-223
Consolidated Operating Costs
(%; €mn)
Employees
per area
4,362
4,193
4,139
(#)
+0.3%
Other areas
1,941
1,884
1,880
+2.8%
on a recurring
basis
305.7
314.2
Commercial
2,421
2,309
2,259
D&A
25.0
29.4
Units
+18.0%
Sep-21
Dec-21
Sep-22
G&A
105.3
115.0
+9.3%
Number of
branches
-34
Staff
-3.3%
Cost
175.5
169.8
9M21
Cost to
Income1
48%
9M22
51%
49%
on a recurring
basis
International
334
311
300
1
1
Domestic
333
310
299
Sep-21
Dec-21
Sep-22
… the reduction of staff costs, and the investment done in the business and new distribution model.
On a recurring basis, operating costs increased by 0.3% (to €306.5mn).
novobanco (1) Defined as Operating Cost divided by Commercial Banking Income; Commercial Banking Income being equal to Net Interest Margin plus Fees and Commissions
29
29View entire presentation