The CEO of Santander, Héctor Grisi, has stated that he does not perceive unusual movements in deposits in recent weeks. They are some statements that he made during his speech before the general meeting of shareholders of the entity that come after the liquidity problems that some banks have suffered, the case of Credit Suisse being especially significant, which was considered a systemic entity at a global level .
“In credits, Latin America and consumption stand out and, in deposits, practically all the countries of the group. In recent weeks we are not seeing any movement in deposits out of the ordinary ”, Grisi stated in his speech.
For her part, President Ana Botín stressed that despite the financial turbulence, they maintain their objectives for 2023. Regarding the goals set, she specified that in the first quarter of this year Santander expects to achieve a return on tangible capital of around 14% which, without annualizing the impact of the extraordinary tax on banks in Spain, would be around 15%.
In addition, he has reiterated the bank's objective of maintaining a capital ratio of 12% in the first quarter and that the efficiency ratio and the cost of credit are in line to achieve the 2023 goals.
"In the first months of the year, we maintain a positive trend, with more than one million new customers, which would lead us to 4% credit growth, 6% deposits and double-digit income in terms year-on-year and constant euros. We are confident that we will reach the objectives for 2023 by the end of the year."
On the other hand, Botín has asked the Government to implement structural reforms to take Spain "to the next level" and resume convergence with Europe in terms of "income, well-being and quality of life". He also added that despite the economic slowdown and the impact of rising energy prices and inflation, "the Spanish economy is recovering", it is creating jobs and inflation is slowing down.
And all this is possible "thanks to the leadership of millions of freelancers, SMEs and companies" who strive every day to improve their businesses, as well as the improvement of tourism, the good level of savings that companies and families have, and the fact that has maintained the focus on reducing energy dependence.
"We share a common objective with Europe: growth", and to promote it "we need to invest more to improve productivity", explained the president of Banco Santander.
On the other hand, Botín has called for speeding up and completing the capital market union and the banking union in Europe, including the creation of the European deposit guarantee fund, given the financial turbulence of recent weeks.
