Santander on Track to Top 2021 Profit Target

The transcript discusses the financial performance of a bank, highlighting strong results in the UK and US, driven by top-line growth and lower loan loss provisions. The bank is comfortable with its capital levels and plans to maintain its dividend policy. It focuses on organic growth and digital sales, while remaining open to strategic acquisitions. Wage pressures due to inflation are noted, but expected to be temporary. Management changes in Brazil aim to ensure strategic continuity.

What was a key driver of the company's record earnings in the US?

• Increased loan loss provisions

• Strong consumer franchise

• Higher interest rates

• Reduced operational costs

How does the company view the credit cycle for SMEs?

• Fully recovered

• Still cautious

• Worse than expected

• Unchanged

What is the company's target range for capital levels?

• 13-14%

• 11-12%

• 10-11%

• 8-9%

What percentage of profits is the company accruing for dividends?

• 20-30%

• 50-60%

• 40-50%

• 30-40%

What is the company's primary objective for growth?

• Inorganic acquisitions

• Organic growth

• Reducing costs

• Expanding into new markets

In which country is the company experiencing significant wage pressure?

• Poland

• Germany

• Spain

• Italy

What is the expected outcome of the management changes in Brazil?

• Continuity in strategy

• Increased profits

• Expansion into new markets

• Discontinuity in strategy