Financial and Liquidity Management Strategy
Concluding remarks
Resilient results and higher business volumes, despite the challenging environment
Financial System
Economic activity is recovering at a gradual pace, with Q3 GDP showing improvement, but still differentiated
between sectors. Europe has approved a relevant support package, but it should be operational only in 2021-22
Loan volumes and asset quality short term dynamics positively influenced by the moratoria.
Strategy
&
Business
Santander Totta maintains its strong position as the largest privately-owned bank in Portugal, with its market share in
new lending to corporates and mortgages at around 20%.
Santander Totta remains focused on its digital transformation process, including continuous deliveries on digital channels
and simplification of internal processes and commercial offering.
Sound capital and liquidity bases, which allows us to better tackle the current uncertainty and challenges and to continue
supporting our customers. In addition, we maintained the best risk ratings by the rating agencies, aligned with or above
the sovereign's.
Growth in loans and deposits, boosted by the sustained growth in individuals and companies loans and demand deposits.
Results
Santander
Lower total income due to adverse effects from the pandemic, partly offset by lower costs.
Preemptive increase of LLPs, while the NPL ratio continues to decline.
‣ Underlying attributable profit declined 37%, impacted by lower NII and higher LLPs.
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