Investor Presentaiton
Strong internal capital generation, healthy buffers even post AT-1 redemption
CET-1
Tier-1
CAR
15.5%
Reported
17.2%
Reported
16.2%
15.8%
14.7%
14.2%
13.8%
Regulatory
limits
• 8.05%
2022
9M23
2023
18.1%
19.1%
Reported
18.1%
17.8%
16.9%
15.3%
13.8%
excluding
AT-1
T-2 issuance offsets
AT-1 redemption
• 12.0%
• 9.55%
2022
9M23
2023
CAR Evolution
13 bps
-220 bps
-111 bps
-381 bps
-88 bps
2022
9M23
2023
+100bps TL interest rate
impact on Capital ratios
~-20bps
10% depreciation
impact on
CAR: -25bps; CET-1: -42bps
19.1%
219bps
650 mln USD worth of AT-1 paid on
16 Jan '24
16.9%
667bps
Tier-1 impact: ~-150bps
2022
Macro Env.
Impact
Market Risk Operational
Risk
Business
growth
Dividend
Profit &
Optimization
2023
Regulatory
Forbearance
2023
Reported
Notes:
Capital Conservation Buffer: 2.5%; Counter-Cyclical Buffer: 0.051%; SIFI Buffer: 1.0%
650 mln USD worth of T-2 issued
CAR impact: ~+150bps
compensating for the
AT-1 impact
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