underlying attributable profit
underlying attributable profit
(*) Adjusted RoTE: adjusted based on deployed Group’s Capital calculated as contribution of RWAS at 12%. Using tangible equity, RoTE is 15.0%
Santander Portugal strengthened its position as the country’s largest privately owned bank in terms of assets and domestic loans and advances to customers. In 2019, Santander was the bank with the best reputation in Portugal and was named as the best bank in the country by Euromoney, for offering the best services to its customers, proving leadership, innovation and dynamism.
In addition, it also maintained the best risk ratings by the rating agencies, aligned with or above the sovereign’s.
Santander has branches distributed throughout the country to serve all business segments, with a focus on digital and commercial transformation.
Santander began its activity in Portugal in 1990 when it acquired a significant stake in Banco de Comércio e Indústria, but it was not fully consolidated until 1999, when it bought a significant stake of the Totta e Açores financial group and Crédito Predial Português. The merger of the Group's three commercial banks (Totta, Crédito Predial and Santander Portugal) gave rise to Banco Santander Totta. Subsequently, Banco Popular’s business in Portugal was integrated in 2017.
Pedro Castro e Almeida
Executive chairman of Santander in Portugal
No results found
Non-IFRS and alternative performance measures
In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, the information above contains certain financial measures that may constitute alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (“Non-IFRS Measures”). Such APMs and non-IFRS measures have been calculated using the financial information from Santander Group but are not defined or detailed in the applicable financial reporting framework and have neither been audited nor reviewed by our auditors. While we believe that these APMs and non-IFRS measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute of IFRS measures. In addition, other companies, including companies in our industry, may calculate or use such measures differently, which reduces their usefulness as comparative measures. For further details of the APMs and Non-IFRS Measures used by Banco Santander, S.A. (Banco Santander), as the parent company of Santander Group, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the Banco Santander´s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission, as well as the section “Alternative performance measures” of the annex to Banco Santander´s most recent quarterly Financial Report. These documents are available on Banco Santander’s website (www.santander.com).
The businesses included in each of the Santander Group primary segments and the accounting principles under which their results are presented in such documents may differ from the businesses included and accounting principles applied in the financial information separately prepared and disclosed by its subsidiaries (some of which are publicly listed) which in name or geographical description may seem to correspond to the business areas covered in such Santander Group documentation. Accordingly, the results of operations and trends shown for the Santander Group´s business areas may differ materially from those of such subsidiaries.