2022 Earnings Presentation
LLPs rose YoY driven by retail and a one-off in CIB in Q4. The quarterly CoR and LLPs
peaked in Q2, having declined in Q3 and Q4 excluding the one-off
Net LLPs (Constant € mn) 1
2022
2021
YoY (%)
QoQ (%)
1,240
Net operating income
8,730
8,981
-2.8
-5.1
1,136
1,122
Loan-loss provisions
(4,417)
(3,191)
38.4
10.6
919
866
Net operating income after
4,313
5,790
-25.5
-22.2
provisions
NPL ratio
7.57%
4.88%
269bps
94bps
Cost of risk²
4.79%
3.73%
106bps
33bps
Coverage ratio
80%
111%
-31.7pp
-9.7pp
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Santander (1) Average exchange rate as at 12M'22.
(2) Cost of risk based on allowances for loan-loss provisions over the last 12 months / average loans and advances to customers over the last 12 months.
18View entire presentation