Market Leader with Potential for Further Penetration
Upgrading 2023-2024 Targets
Net Interest
Income
FY2023 targets
(February 2023)
FY2024 targets
(February 2023)
Sustainable NII
Updated FY2023
targets
Updated FY2024
targets
>650 mn
>625 mn
€520-550 mn
(40-50% yoy)
Cost to
Mid-40s
Income Ratio
Around similar levels to
2023
sub 40%
ROTE1
>13%
>13%
>
>17%
<4%
c.40%
>14%
(>17% based on 15%
CET1 ratio)
<4%
NPE Ratio
<5%
n/a
To normalise towards 40-
To normalise towards 40-
Cost of Risk
50-80 bps
50 bps over the medium-
term
50-80 bps
50 bps over the medium-
term
Building progressively to 30%-50%
Dividend
1)
2)
Intention to commence from 2023 onwards
ROTE calculated as annualised profit after tax (attributable to owners of the Company) divided by quarterly average shareholders' equity minus intangible assets
Of adjusted recurring profitability: Profit after tax before non-recurring items (attributable to the owners of the Company) taking into consideration the AT1 coupon
pay-out²
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