Financial and ESG Performance Review
Final Remarks
Improved profitability backed by consistent strategic execution, reflecting a solid performance of the top-
line together with efficiency measures implemented in recent years, delivering organic ROTE of 14.4% (pre-tax).
Expanding the loan book (+3.8% net) with business performance in line with expectations,
despite the highly challenging environment.
Higher efficiencies with recurrent Cost-to-Income at 44.1% (-2pp YoY) and Cost of Risk at 45bps
(-25bps YoY) backed by strategic investment towards streamlined operations and de-risking strategy.
Fully Loaded Total Capital Ratio at 15.5%, increasing by 330bps in the year driven by strong bottom-line
profitability and specific measures, ensuring compliance with normalised post-pandemic capital requirement.
novobanco
Targeting 2023E recurrent PBT > €600mn,
driven by assets re-pricing, moderate cost of risk and cost control.
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