2024-01-31 17:12:56
Santander Bank has registered a record attributable net profit of 11,076 million euros in 2023, which implies an increase of 15.3% compared to the figure for 2022, as indicated this Wednesday by the entity chaired by Ana Botín.
The president of Banco Santander herself has stated that “Our objective is to deliver results in the short term and ensure that they grow and are sustainable in the future, and I am convinced that 2024 will be even better for Santander, with positive inertia in the majority of our businesses, despite increased geopolitical risks and the slowdown in the global economy.
Banco Santander’s total income (gross margin) reached 57,423 million euros in 2023, which is 10.2% more than in 2022. Interest income (interest margin) represented the main part of that figure, with 43,261 million euros, 12% more.
Likewise, net commissions stood at 12,057 million euros, after increasing 2.3%. For its part, the results from financial operations and the impact of the exchange rate represented income of 1,653 million euros, 59.3% more. Dividend income increased by 17%, to 571 million euros.
Banco Santander’s operating costs grew by 6.4% last year, to 25,425 million euros. Of that amount, personnel expenses increased by 9.4%, to 22,241 million euros, while the rest of the administration costs stood at 13,726 million euros, which is 9.4% more.
The amortization of assets had a negative impact of 3,184 million euros in the whole of 2023, 6.7% more, while provisions for impairment of financial assets reached 12,956 million euros, 19.3% more .
Banco Santander’s pre-tax profit for the whole of 2023 was 16,459 million euros, which represents an advance of 7.9%.
Ordinary earnings per share in 2023 increased by 21.5%, to 0.65 euros, and the return on equity (RoE) was 11.91%, from 10.67% in 2022. The return on tangible capital (RoTE), was 15.06%, compared to 13.37% the previous year.
The CET1 capital ratio in its ‘fully loaded’ variant increased by three tenths in December 2023 compared to a year before, up to 12.3%. For its part, the total capital ratio improved by five tenths, to 16.3%.
Santander Bank registered an increase of six basis points in its delinquency rate in 2023, standing at 3.14% at the end of the year.
The entity chaired by Ana Botín counted a total of 164.5 million clients in 2023, which represents 2.9% more. Of that amount, 99.5 million were active customers, 0.3% more, while digital customers increased 5.2%, to 54.2 million.
The number of Banco Santander employees worldwide increased by 3.1% in 2023, to 212,764 people, while some 500 offices were closed, bringing the total to 8,518 branches.
Banco Santander’s balance sheet ended 2023 with total assets worth 1,797 billion euros, 3.6% more, of which loans and advances to customers accounted for 1,036 billion euros, a figure similar to that of 2022.
Likewise, Banco Santander recorded liabilities worth 1,692 billion euros, 3.4% more than in 2022, of which 1,047 billion were customer deposits, 3.7% more.
During last year, Banco Santander clients withdrew some 49,000 million euros from demand accounts, placing the total balance at 661,262 million euros, while depositing 71,000 million in time deposits, up to 307,000 million euros. euros.
On the other hand, Santander Bank managed off-balance sheet client resources worth 208,528 million euros in investment funds during 2023, 13.3% more, and 14,831 million in pension funds, 5.8% more. The managed assets stood at 36,414 million euros, 13.1% more.
As regards Banco Santander’s main business segments, profit in Europe was 5,482 million euros, 43.9% more, while in North America it fell 18.2%, to 2,354 million, as consequence of the decline in profits in the United States; in South America it stood at 3,038 million, 16.9% less, due to the decline in Brazil.
Digital Consumer Bank’s net profits fell by 8.3%, to 1,199 million euros, while the global commercial banking business stood at 7,436 million (-6.3%); The investment banking branch reached 3,078 million euros (+9.3%), and the wealth management area reached 1,637 million euros (+46.3%).
PagoNxt, the payments subsidiary of Banco Santander, recorded losses of 77 million euros in 2023, a figure 64% lower than in 2022.
As for Spain, Banco Santander obtained an attributable net profit of 2,371 million euros, which implies an advance of 51.9% compared to the 2022 figure. Total income increased by 23.1%, to 10,132 million euros, and the interest margin increased by 46.3%, to 6,641 million euros.
Likewise, the credit balance was reduced by 6.7%, to 239,214 million, and customer deposits were cut by 1.6%, to 324,099 million euros.
Counting only on the fourth quarter of 2023, Grupo Santander achieved an attributable profit of 2,933 million euros, with an increase of 1.1%, while total income (gross margin) reached 14,552 million euros, an increase of 2.1%. % less.
As for this year, Banco Santander has established a target of mid-digit revenue growth, improving efficiency until it is below 43%; maintain the cost of risk close to 1.2%, and achieve a RoTE of 16%. Likewise, it aims to maintain the ‘fully loaded’ CET1 capital ratio above 12%.
#Banco #Santander #aims #record #profit #million #euros