Operational Levers to Enhance Profitability
Europe
Europe: focus on improving profitability, leveraging
cost efficiencies
Key expected levers
Low credit demand & rates:
limited revenue growth...
...and CoR at lows...
...requires a cross-border
approach in a fragmented market
Further operational integration
and cost efficiencies (c.€1Bn)
Medium-term goals¹
SCF
Financial (2018 > Medium-term)
Commercial (2018 > Medium-term)
C/I
52%
47-49%
Loyal/Active
customers1
33%
40%
ROTE 3
11%
12-14%
Digital
customers 1,4
13 Mn
c.17Mn
+27%
20
20
RORWA³ 1.7%
Focus on customer experience
& digitisation
c.2%
# of countries
top 3 in CSAT 1,2
All
Maintain
Note: Europe includes Spain, UK, Portugal, Poland and SCF.
(1) Excluding SCF
(2) Latest available. CSAT: Customer Satisfaction internal benchmark of active customers' experience and satisfaction audited by Stiga / Deloitte. In the medium term we will be also
following NPS as indicator.
Underlying
(4) Digital customers including Open Bank Spain and UK.
Santander
(3)View entire presentation