ESG Strategy and Digital Transformation
1)
2)
4)
37
3)
... leading to increased focus on value creation, with updated medium term targets
2021
2023
2025
Return on Tangible
Equity (ROTE)1
1.8%
Mid-single digit
>10%
Profitability
On trajectory to
consider dividend
distribution4
Cost to Income ratio²
60%
50%-55%
Asset Quality
NPE Ratio
7.5% 3
<5%
<3%
Cost of risk
57 bps
40-50 bps
Capital
CET1 ratio
15.8% 3
(14.3%³ FL)
Supported by CET1 ratio of 13.5%-14.5%
Paving the way for dividend distribution from 2023 onwards4
ROTE is calculated as Profit after Tax divided by (Shareholders' equity minus Intangible assets)
Calculated using total operating expenses which comprise staff costs and other operating expenses. Total operating expenses do not include the special levy on deposits
or other levies/contributions and do not include any advisory or other restructuring costs.
Pro forma for HFS
Subject to performance and relevant approvals
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