Competing as a Strong and Independent Portuguese Bank
9M22 Financial Statements
Deferred Tax Assets
Overview of Deferred Tax Assets
(€ millions)
Dec-21
Sep-22
Timing-Difference DTAS - under Special Regime (1)
267
298
Timing-Difference DTAs - other
473
538
Total DTAs on Balance Sheet
741
836
•
Tax losses carried forward are recognised to the extent they are
expected to be recovered with future taxable income;
• novobanco conservatively assesses the recoverability of tax losses
carried forward considering its projected taxable income over a 5 year
period;
.
DTAs under Special Regime: YoY decrease reflects the conversion
rights relating to 2020 fiscal year.
novobanco
Deferred Tax Assets as % of Equity¹
novobanco vs listed banks and average by market
c.50% as of
Jun-17
45%
46%
25%
novobanco
Bank 1
(1) Novobanco analysis; considering most recent available information; Spanish banks includes Caixabank, Bankinter, Unicaja and Sabadell; Greek banks
includes NBG, Eurobank, Alpha Bank and Piraeus Bank
Spanish
Top domestic
Banks (avg)
93%
Greek
Banks
(avg)
60
60View entire presentation