Market Leader with Potential for Further Penetration
•
Strong Organic Capital Generation with Healthy Buffers
Strong capital position; building up rapidly and organically...
•
CET1>16% for 2023 and c.19% for 2025
.
Beyond 2023, capital generation of 200-250 bps p.a pre
distributions
CET1 (FL)
•
Modest RWAs growth
.
• CET1 comfortably above capital requirements (including
P2G), paving the way for meaningful shareholder
distributions; Significant buffer to offset potential
external shocks
Building progressively towards a 30-50% payout ratio
on adjusted recurring profitability1
CET1 ratio
>16%
15.0%
13.7%
12.9%
c.19%
Dec 20
Dec 21
Dec 22 2
Dec 23
2025
15.0%
30-50%
payout
200-250
bps p.a.
1)
Profit after tax before non-recurring items (attributable to the owners of the Group) taking into account distributions under
other equity instruments such as the annual AT1 coupon
Dec 222
Organic
capital
Dividends as
per div policy
2)
FL CET1 ratio as at 31 December 2022 restated for dividend distribution out of FY2022 earnings of c.20 bps and adjusted for
the €50 mn dividend distributed to the Bank (IFRS 17 benefit)
Capital in
excess of 15%
CET1 ratio
Dec 25
00
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