2022 Highlights and ESG Progress
Record profit boosted by 12% revenue growth...
Delivered on Group 2022 targets
Revenue growth backed by volume increase
and initial interest rate tailwinds
Efficiency ratio improvement
Based on operational improvements, record net
operating income (representing 2.7% of loans)
• CoR <1%
ROTE: 13.4%
% change
Constant
€ million
2022
2021
Euros
euros
NII
38,619
33,370
16
9
Net fee income
11,790
10,502
12
7
•
Trading and other income
1,745
2,532
-31 -37
Total revenue
52,154
46,404
12
6
Operating expenses
-23,903
-21,415
12
7
Net operating income
28,251
24,989
13
5
LLPs
-10,509
-7,436
41
31
Other results
-2,492
-2,293
9
8
Underlying att. profit
9,605
8,654
11
2
.
Net capital gains and provisions
0
-530
-100
-100
Attributable profit
9,605
8,124
18
8
Santander
(1) 2021: restructuring costs (net of tax), corresponding mainly to the UK and Portugal.
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