Santander 2021 results

• The Income in 2021 It amounted to €46,404 million, 7% more than the previous year in constant €, thanks to customer growth (+5 million) and improved activity in all regions and all businesses.

• The net margin It grew 9% year-over-year in constant euros, to €24,989 million, driven by strong increases in loans (+4%) and deposits (+6%).

• areas Europe and North America They doubled their regular earnings, 110% and 109% in constant euros, respectively, while in South america It grew 24%.

• Strong growth in the use of digital services (76% of transactions at the group’s major banks were done digitally, compared to 55% in 2019) contributed to improved efficiency and customer satisfaction. Santander has one of the best efficiency ratios (46.2%) in the sector and is among the most recommended banks in eight of its major markets, according to Net Promoter Score (NPS) ratings.

• The Fintech units The bank has grown significantly: Openbank has reached 1.7 million customers in five markets (+ 80% annual growth outside Spain), doubled the number of official mortgages and achieved the best NPS in Spain. PagoNxt increased its revenue by 47% in 2021 in constant euros and expects to increase it by 50% in 2022.

• The riches It decreased by 37% in constant euros after the release of about 750 million euros of provisions formed in 2020. The cost of credit continued to improve and reached 0.77%, compared to 1.28% in 2020.

• These results led to a Return on Tangible Equity (RoTE) 12.7%, above the cost of capital, and with a tangible book value (TNAV) per share of 4.12 euros after a growth of 0.33 euros for the year.

• The CET1 Capital Ratio The full load rate was 12.12%. The bank aims to keep it within 12% in the future.

• Santander announced in September its decision to set a provisional payment for 2021 results estimated at €1,700 million, with a divided money 4.85 euro cents per share and 841 million share repurchases, which have already been completed. An additional bonus for 2021 results will be announced in the coming weeks.

• In 2022, Santander has area To increase revenue by about 5%, to achieve an efficiency ratio of approximately 45% and a RoTE of more than 13%, and to pay shareholders 40% 2 of the normal profit.

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