Operational Levers to Enhance Profitability
LatAm
Mexico: we have significantly improved returns
while heavily investing in the franchise...
Performance
Significantly
increase in
profitability
while growing
our retail
Underlying RoTE
13%
Macro
20%
High growth
potential
2015
2018
customer base
+3.3x1
Digital
+81% 1
Loyal
GDP growth potential still
at sound levels
• Low inflation environment
• Solid labour market trends
Santander
.
+31% in customer deposits
• Operational & IT transformation
through investment plan
• Strong top line growth together
with flattish C/I (despite high
investments) leading to a strong
growth in returns
(1) Variation since 2015
Industry trends
Sound loan
and deposit
growth
• Low loans-to-GDP ratio
providing high growth
opportunities
•
Stable asset quality
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