Santander Financial Results

Strong NII performance and cost management led to a 4.3pp efficiency improvement and 22% growth in net operating income Net operating income (£ mn) + 631 617 564 518 485 2022 2021 YoY (%) QoQ (%) Total income 4,619 4,138 11.6 0.9 Operating Expenses (2,289) (2,227) 2.8 4.3 Net operating income 2,330 1,911 21.9 -2.2 Efficiency ratio 49.6% 53.8% -4.3pp Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander 17

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