SAN - Banco Santander sees meeting 2022 financial targets aims for 15% ROTE in '23

Banco Santander (SAN -0.1%) said it's on track to reach financial targets in 2022, including ~45% cost income ratio, more than 13% return on tangible equity, ~12% common equity Tier 1 (fully loaded) ratio and 40% payout. For its PagoNxt global payments platform, the bank targets 50% revenue growth in 2022. For medium-term targets, Banco Santander aims for ~15% ROTE, ~40% efficiency, and ~12% CET1 FL in 2023. Q4 underlying profit before tax of €3.83B ($4.33B) rose 0.6% Q/Q and 44% Y/Y.  Net loan-loss provision resulted in a benefit of €1.46B, down 44% from the year-ago quarter. Q4 net interest income of €8.72B rose 3.1% Q/Q. Banco Santander (NYSE:SAN) said organic generation drove the increase in fully loaded CET1 ratio to 12%, including the impact of announced corporate transactions pending completion at year-end, vs. 11.85% at Sept. 30, 2021. Earlier, Banco Santander (SAN) Q4 results beat estimates On Monday, the bank

For further details see:

Banco Santander sees meeting 2022 financial targets, aims for 15% ROTE in '23