Deliver more value
Main targets for strategic cycle 2025-2028
| |
Metrics |
2025 |
2028 |
| | | | |
|
Healthy organic growth |
Business volumes
Portugal |
174€bn
118€bn |
> 190€bn
> 120€bn |
Number of customers
Portugal |
7.3mn
2.9mn |
> 8mn
> 3mn |
Mobile customers
Portugal |
74%
66% |
>80%
> 75% |
| | | | |
|
Execution discipline |
Cost-to-income
Portugal |
37%
35% |
< 40%
< 37% |
Cost of risk
Portugal |
32 bps
31 bp |
< 50 bps
< 45 bps |
| | | | |
|
ESG commitment |
S&P Global CSA (percentile) |
Top quartile |
Top quartile |
| | | | |
|
Robust capital |
CET1 ratio
|
15.9%1 |
> 13.5% |
| | | | |
|
Superior returns |
ROE |
14.1% |
> 13.5% |
|
Shareholder distribution |
2025 activity
75%3
|
Up to 75% of cumulative net income of 4.0-4.5€bn in 2025-20282 subject to supervisory approval and achievement of Plan’s relevant capital & business targets in Portugal and in the international area and fulfillment of CET1 target |
1 Fully implemented estimated ratio (December 2025) including 25% of the unaudited net income of 2025
2 Including dividend payments and share buybacks during the 2025-28 cycle.
3 Includes a 50% dividend payout on 2025 results and incorporates the effect of the 25% share buyback programme.
