2022 Highlights - PagoNxt & Santander UK
Record profit boosted by 12% revenue growth
% change
Constant
€ million
2022
2021
Euros
euros
NII
38,619
33,370
16
9
Net fee income
11,790
10,502
12
7
Trading and other income
1,745
2,532
-31
-37
Total revenue
52,154
46,404
12
6
Operating expenses
-23,903
-21,415
12
7
Net operating income
28,251
24,989
13
5
Delivered on Group 2022 targets
Revenue growth backed by volume increase
and initial interest rate tailwinds
Efficiency ratio improvement
Based on operational improvements, record net
operating income (representing 2.7% of loans)
LLPs
-10,509
-7,436
41
31
Other results
-2,492
-2,293
9
8
COR <1%
Underlying att. profit
9,605
8,654
11
2
ROTE: 13.4%
Net capital gains and provisions'
0
-530
-100
-100
Attributable profit
9,605
8,124
18
8
Santander (1) 2021: restructuring costs (net of tax), corresponding mainly to the UK and Portugal.
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