Record 2023 results crowning three years of success and exceeding expectations
Group FY23 stated net profit of €9.5 billion €8.6 billion n et profit up over 50% versus prior year with a 16.6% RoTE or 20.5% RoTE on a CET1 of 13%, adjusted for excess capital
EPS and DPS increased by 74 to 4.71 and by 80% to €1.78 respectively
Commencing interim dividend and share buyback approach leading to total distribution of circa €10 billion 1 for 2024 calendar year and a dividend yield of circa 10% 2
CET1r 3 of 15.89 up around 100 basis points despite distributing 4 100% of FY23 net profit reflecting strong capital efficiency profitability and organic capital generation of 12 billion in 2023
Total revenue of €23.8 billion, underpinned by NII of €14.0 billion and resilient fe es of €7.5 billion despite macro headwinds
Transformed and strong asset quality maintained with CoR of 12 basis points and with robust lines of defence to protect against risks
Operational excellence with cost reduction achieved year over year offsetting inflation and without constraining investments, 39.7% FY23 Cost Income Ratio
Superior shareholder value creation with total distribution 4 of €8.6 billion for FY 23, or 100% of net profit and up by c irca €3.3 5 billion versus prior year
FY24 net profit guidance of broadly in line with prior year and RoTE of circa 16.5% demonstrating our ability to defend profitability across the cycle
Introducing ordinary distribution policy from 2024 of at least 90% pay out 5 of net profit
Strong progress on ESG ambitions during the year and with the focus on our values and culture garnering industry awards

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