1H22 Financial Performance
Capital increasing by 1.0pp in the 2Q22, driven by
capital-accretive business model...
Theme 2: Capital Evolution
Total Capital: Ratio Evolution
(phased-in¹; Preliminary; bps)
~40bps with
completion of
the transaction
~27bps Head-Office sale
~13bps RE assets sale
~25bps Restructuring funds
~14.5% 15.0%
13.1%
+0.23% 12.9%
+0.30%
+0.28%
13.9%
~0.6%
+0.4%
+0.02%
1.5% P2G
-0.34% -0.09%
Total
Capital
Dec-21
Including lower RWA
driven by improving
PDs following exit of
loans from
moratoriums in 2021
13.5% OCR
IFRS 9 Treasury 1Q Total
results Results² Capital
Mar-22
Treasury 2Q
Sale Other Total
results Results² of effects Capital
logistics
REO3
3Q22 Pro-forma Target
YTD
■
Jun-22
Jun-22
novobanco
> Measures to accelerate the sale of non-core
and high-density assets, including:
■
[~27bps]: Sale of Head Office: SPA signed in
Aug-22; moving to a refurbish building outside the
city-center;
[~35-45 bps]: Real Estate assets: planned for
2022 (sales processes in advanced stage), before
possible anticipation of sales target for 2023/24, of
which ~13bps signed 3Q22 to date.
■ [~25 bps]: Restructuring Funds: sale of ~40% of
novobanco's NBV in Restructuring Funds (signed
in 3Q22 to date; closing by YE);
> Other possible positive events not considered
(potential upside):
■ CCA Call: €209mn from 2021 CCA call;
RE Tax: €116mn (~50bps) provision done in 2021
and pending clarification from tax authorities;
■ Arbitrations: €165mn from 2020 CCA call and
IFRS 9 dynamic
...and execution of measures to continue to comply with capital requirements going forward.
(1) Estimated; Phased-in ratios; The inclusion of positive results depends on an authorization from the ECB; (2) Excludes Markets Results, which is classified as Treasury results; (3) Closed in Jul-
22; -82% of assets transferred to the buyer; remaining to be transferred once necessary approvals obtained;
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