Sat. Apr 20th, 2019

Santander announces that it will invest 20,000 million in its digital transformation in four years

Santander announces that it will invest 20,000 million in its digital transformation in four years


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LondonUpdated:

The president of Banco Santander, Ana Botín, announced on Wednesday that the entity will invest more than 20,000 million euros in its digital and technological transformation in the next four years to improve the experience of its customers, increase their trust and connection and reduce costs.

At the Investors Day held every year in London, the entity has announced your strategic plan for the next three years, with which it aims to increase its profitability and achieve a progressive annual cost saving of 1,200 million euros, as well as raise the "pay out" or percentage of the profit destined to dividends up to 40-50%.

The group hopes to reach a return on ordinary tangible capital (RoTE) between 13 and 15% in the medium term and improve its efficiency ratio to 43-45%, as well as maintain a solvency ratio CET1 "fully loaded" -with all Basel requirements- between 11 and 12%

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