SANTANDER: 2023-25 STRATEGIC PLAN (ANÁLISIS BANCO SABADELL)
SAN has just released the main guidelines of its new 2023-25 Strategic Plan, the first under its new CEO Mr Grisi. Below are the main objectives of the Plan, which will be detailed at the conference call to be held at 9:30 (CET). RoTE’23-25 of between 15% and 17% (this means a floor Net Profit of between € 11 Bn and € 12.5 Bn, +20%/25% vs. the current consensus estimate). By divisions’25: Europe 15%, North America 15% (calculated with 12% RWA), South America 19% and DCB 15%.
Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
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