Competing as a Strong and Independent Portuguese Bank
...being on track to deliver medium-term guidance with targets to be updated, by
year end, to reflect current market environment
9M21
9M22
Medium-term targets
Underlying Profitability
(Єmn; pre-tax)
Commercial Loan Book
(performing)
€22.8bn
€24.2bn
(+4.6% YTD)
2-3% per year Expanding loan book
12.4%
11.0%
10.2%
Net Interest Margin
1.43%
1.32%
(pro-forma)
[1.30 1.50%] Set to benefit from Euribor repricing
8.7%
8.8%
8.2%
7.6%
107.1
Cost-to-income
48%
49%
(recurrent basis)
< 45%
Efficient operations
85.1
77.9
76.5
75.1
68.6
59.7
COR
61bps
20bps
< 50 bps
Achieving moderate risk profile
NPL ratio
7.3%
5.0%
< 5%
Converging towards EU average
1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22
ROTE (pre-tax)1
8.2%
12.4%
≥ 10%
Delivering organic attractive returns
CET 1
10.9%
12.7%
> 12%
Accelerating capital generation
ROTE (cumulative annualised; 12% RWA)
novobanco
(1) Tangible Equity = average phased-in RWA x 12%; Annualized; Considers Underlying profitability pre-tax deducted by special tax on banks (€34mn on annual basis) and contributions to
Resolution Funds (€40.9mn on annual basis)
12View entire presentation