Financial and ESG Performance Review
2022 Financial Statements
Sustainable profitability following a successful transformation
Sustainable earnings based on diversified and credible levers
Recurrent PBT for the period 2021 – 2022 (€mm)
406.7
28.2
(6.1)
2.7
10.8
282.7
88.4
2021
Recovery of interest
income on loans
Increased
efficiency
Fees & Commission
expansion
COR
normalization
Other
2022
Improvement in net interest
income with 2022 as first year
of positive rates since 2016
and successful funding
optimization initiatives
novobanco
Increase in fee and commission
income, driven by higher number of
transactions after pick-up in
business activity
Decrease in operating costs
reflecting efficiency, improvements
and business recalibration
Cost of risk converging
towards normalized levels,
driven by strong clean-up of
legacy portfolio (€8.8bn NPL
reduction since 2017)
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