Financial and ESG Performance Review
3
Operating costs growing at 2.4% on recurring basis, implying 44% cost to
income ratio
Operating Costs
(%; €mn)
▲ YOY
2022 One-Offs Costs
(Єmn)
+9.8%
+2.4%¹
408.4
448.4
52.5
Other
405.5
Spain branch
closure
Intangibles
write-offs
D&A
3
34.0
4
Employees
per area
-103
4,193
4,139
4,090
Other areas
1,884
1,880
1,872
Commercial
2,309
2,259
2,218
Units
Dec-21
Sep-22
Dec-22
G&A
141.1
162.2
DG Comp,
18
CCA & 5
Regulatory
€43mn
One-Offs
Staff
233.3
233.7
Number of
branches
-19
Cost
13
International
311
2021
2022
Reported
2022
Recurrent
300
292
1
1
Headquarters
Domestic
310
299
291
Cost to
Income²
48%
49%
44%
move & Strategic
advisory
Dec-21
Sep-22
Dec-22
novobanco
(1) YoY considers 2021 one-off costs of €12.4mn; 2021 Recurrent Cost to Income of 46%; (2) Defined as Operating Cost divided by Commercial Banking Income; Commercial Banking Income
being equal to Net Interest Margin plus Fees and Commissions
15View entire presentation