1H22 Financial Performance
1H22 Financial Statements
Deferred Tax Assets
Overview of Deferred Tax Assets
(€ millions)
Dec-21
Jun-22
Timing-Difference DTAS - under Special Regime (1)
267
267
Timing-Difference DTAs - other
473
541
Total DTAs on Balance Sheet
741
809
•
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
93%
Spanish
Top domestic
Banks (avg)
Greek
Banks
(avg)
57
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