1H22 Financial Performance
3
Stable YoY operating costs reflecting the continued optimisation and
simplification of the organisation and its processes,...
Number of
branches
-45
Consolidated Operating Costs
(%; €mn)
-0.5%
+2.2%
on a recurring
basis
International
349
1
311
304
1
1
Domestic
348
310
303
204.1
208.7
D&A
+19.4%
16.4
19.5
Jun-21
Dec-21
Jun-22
G&A
70.1
77.3
+10.2%
-303
Employees
Staff
-4.9%
per area
(#)
4,470
4,193
4,167
Cost
Other areas
117.6
111.8
1,947
1,856
1,855
International
22
28
20
Commercial
2,501
2,309
2,292
Units
Cost to
Income1
1H21
48%
1H22
51%
49%
Jun-21
Dec-21
Jun-22
on a recurring
basis
……. the reduction of staff costs, and the investment done in the business and new distribution model.
On a recurring basis, operating costs reduced by 0.5% (to €203.1mn).
novobanco
(1) Defined as Operating Cost divided by Commercial Banking Income; Commercial Banking Income being equal to Net Interest Margin plus Fees and Commissions
27
27View entire presentation