Investor Presentaiton
One Transformation | Accelerating execution in US5
Retail products (#)1
Simplification
Retail & Administrative Costs²
(USD bn)
2022
2025
c.314
<20
Process automation and redesign
2022
2025
% Operations in Branch
c.50
<15
Reduction & automation of
c.500
c.100
high cost branch processes
Cost-to serve4
c.205bps
c.-20%
Q1 2024: Launch of national deposit savings
1 Excludes business lending products
Santander
2 Total expense for retail bank (SBNA) and administrative US support costs (Hold Co)
3 Efficiency ratio for retail bank
2.0
0.3
0.7
1.7
33% from
simplification
2022
Total Cost
Inflation
Simplification
2025
Total Costs
C/I
74%
ratio³
4 Non-interest expense assigned to retail deposit servicing (excluding marketing costs) based on $41bn of average retail consumer deposits in 2022 and c.3% compound annual growth rate target through 2025
5 Figures in International Financial Reporting Standards ("IFRS")
<45%
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