Financial and ESG Performance Review
Consistent performance having delivered on medium-term targets already
in 2022, positioning novobanco for its next stage of development
Customer-centric
bank
Simple and efficient
operations
As announced in Oct/21:
Previous Medium-term
Targets
2022
Execution
Commercial Loan Book
(performing)
2-3% per year
4.7% YoY
Expanding loan book
Net Interest Margin
[1.30 -1.50%]
1.47%
Cost-to-income
< 45%
44%
(recurrent basis)
COR
< 50 bps
45 bps
Set to benefit from Euribor repricing
Efficient operations
Achieving moderate risk profile
Developing people
and culture
NPL ratio
< 5%
4.3%
Converging towards EU average
ROTE (pre-tax)1
≥ 10%
14.4%
Delivering organic attractive returns
Delivering sustainable
performance
CET 1
> 12%
13.7%
Accelerating capital generation
novobanco
Achievements of novobanco were also recognized with the
successful conclusion of the DG Comp restructuring period as of 22YE²
(1) Tangible Equity = average phased-in RWA x 12%; Annualized; Considers Underlying profitability pre-tax deducted by special tax on banks (€34mn on annual basis) and contributions to
Resolution Funds (€40.9mn on annual basis); (2) The Monitoring Trustee's final report will be prepared upon the release of novobanco 2022 year-end accounts.
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