Santander profits R$9.383 billion in 2023

Santander profits R$9.383 billion in 2023
Santander profits R$9.383 billion in 2023
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Santander recorded recurring net profit of R$9.383 billion in 2023, a drop of 27.3% compared to 2022, and 19.2% in the quarter. The bank’s return on equity (ROAE) was 11.8%, which represented a decrease of 4.5 pp in twelve months.

One of the negative impacts on Santander’s 2023 profit, according to the bank’s balance sheet, was the 14.2% growth in the provision for loan losses (PDD), which in turn was impacted by a specific case in the wholesale sector in the 4th quarter, not detailed by the bank.

The 2023 profit of Santander’s Brazilian operation represented 17.3% of global profit, which was €11.076 billion, an increase of 15.3% in twelve months.

PPRS and PLR

With the drop in the bank’s return on equity (ROAE), which closed 2023 at 11.8%, the PPRS paid by Santander, in February, will be in the amount of R$2,902.73, since the ROAE was below 13%.

Also considering the reduction in ROAE, and consequently the bank’s results, the basic rule for paying the second installment of the PLR, as well as for the additional installment, will be increased, not reaching the ceiling of 2.2 salaries.

“From the moment Santander publishes the percentage that will be used for the basic PLR rule and for the additional portion, which will be increased according to the bank’s results, the Union will make the PLR ​​simulator available so that bank employees can have an estimate of how much they will receive”, informs Wanessa de Queiroz, coordinator of COE Santander (Santander Employee Organization Committee).

Job

The Santander holding ended the year with 55,611 employees, opening 3,008 jobs in twelve months.

However, it is important to highlight that these open jobs do not refer exclusively to bank employees, since, since the second half of 2021, Santander has been transferring and hiring workers to other companies in its group such as STI, SX, Santander Corretora, F1RST, Prospera, and SX Tools.

“This strategy of transferring workers to other companies in its group, each with a different union representation, aims to remove rights, reduce salaries and weaken the banking category”, emphasizes Wanessa.

“Since this maneuver by Santander began, the Union has been fighting to have union representation for all the group’s employees, so that they have respected their right to belong to one of the strongest categories in the country, which since 2004 has had 21, 61% real increase, and take advantage of our Collective Labor Agreement”, he adds.

Only with the provision of banking services and fees, secondary revenue that grew 5.4% in twelve months, Santander covers 180.2% of its total personnel expenses, including PLR.

Agency closures

In twelve months, Santander closed 290 service points (physical branches, service points, stores, etc.). On the other hand, the customer base increased by 4.3 million compared to December 2022, totaling 66.3 million.

“Santander continues to close branches, which harms banking jobs and excludes a large portion of the population, especially the elderly and people who are unfamiliar with digital service channels”, concludes the COE Santander coordinator.

The article is in Portuguese

Tags: Santander profits R9 .383 billion

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