01
Executive Chair’s Letter
01Executive Chair’s Letter
Executive Chair’s Letter
Ana Botín
01
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02
Chief Executive Officer’s Letter
02Chief Executive Officer’s Letter
Chief Executive Officer’s Letter
José Antonio Álvarez
02
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03
Santander in 2022
03Santander in 2022
Santander in 2022
Santander Today
2022 Results
03
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04
Santander tomorrow
04Santander tomorrow
Santander tomorrow
Strategy and targets
04
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05
DataHub
05DataHub
DataHub
05
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Over the years, Santander has regularly updated its strategy and set new targets, based on new circumstances.

Through its Investor Days, and in line with its commitment to transparency, Santander has been announcing these targets and strategic plans to the market and sharing them with all its stakeholders.

Santander Investor Day
ID 2019 targets 2022
Loyal customers (mn)
0
26
0
27
Digital customers (mn)
0
50
0
51
% Digital sales over total
>
0
50
%
0
55
%
Efficiency ratio
0
42
%-45%
0.0
45.8
%
FL CET1
0
11
%-12%
0.00
12.04
%
RoTE
0
13
%-15%
0.0
13.4
%
Payout1
0
40
%-50%
~
0
40
%1
1. Subject to approval of the final dividend at the 2023 AGM and completion of the Second 2022 Buyback Programme under the terms agreed by the board.
TNAV per share + Dividend per share
Double-digit growth
Average through-the-cycle
1. Target payout will be c.50% of group reported profit (excluding non-cash, non-capital ratios impact items), distributed in approximately 50% in cash dividend and 50% in share buybacks. Execution of the shareholder remuneration policy is subject to future corporate and regulatory decisions and approvals.
To achieve our goals, we will combine our global scale and network with our local leadership.
Global and
network businesses
SCIB, WM&I, PagoNxt and Auto business
They will help us to further improve the profitability of our local banks.
>30% of revenue currently from global and network businesses.
Local
Markets
Retail banks
As a result, we aim to be the most profitable bank in every market.
We are currently in the top 3 for profitability in 9 out of our 10 markets.
We will leverage on the
3 competitive advantages of our business model that make us unique
Customer focus + Scale + Diversification
Customer focus
We will accelerate the implementation
of our digital bank with branches to drive
value creation
Customer centric
Simplification &
automation
Network
contribution
Customer activity
Capital
Value
creation
Digital Bank
with Branches
One Transformation
We are converging our retail customers to a common operating and business model which will improve our operating performance
Scale
To lead in profitability, we will combine
our in-market scale with our global and
network scale to support our local banks
In-market scale
Strong positioning in all our markets
1. Market share data: as at Sep-22 considering privately-owned banks. US auto lending retail origination. Top 3 in Portugal, Chile, DCB, Poland, Spain, Argentina, Brazil, Mexico and UK (mortgages).
2. Data as of 2022: Considering privately-owned banks. Top 3 in Portugal, Chile, DCB, Poland, Spain, Argentina, Brazil, Mexico and UK.
Global scale
Our global scale will further improve our local banks profitability through value, adding network benefits.
Global businesses
SCIB
Capitalizing further on our strengths and network contribution to accelerate profitable growth.
WM&I
Aim to be a top operator with a strong share in all relevant markets.
Payments
The integration into a global platform will increase the efficiency and profitability of our banks.
1. Total transactions include merchant payments, cards and electronic A2A payments.
Auto business
Leverage our global relationships with Original Equipment Manufacturers to expand the business across our global footprint.
Diversification
Our geographic and business
diversification provides us with superior
returns with a low risk profile
Regions' contribution
Loans1
Deposits1
Group's profit2
0
57
%
0
67
%
0
33
%
0
16
%
0
13
%
0
25
%
0
15
%
0
14
%
0
31
%
0
12
%
0
6
%
0
11
%
1. Data as of 31 December 2022. % of operating areas. Weights of loans and advances to customers (excluding reverse repos) and deposits (excluding repos).
2. 2022 underlying attributable profit excluding Corporate Centre.
Simple balance sheet
Low risk business profile
Well positioned for a rising interest environment
Capital strength
We will continue to execute our strategy responsibly, supporting our customers in their green transition and committed to financial inclusion
1. Including access and finance initiatives. Does not include financial education.
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