Capital Strength & RWA OptimizationA CET1 ratio of 15.4% well above the >13.75% target and ~EUR 7.7bn of RWA reductions provide a lasting capital buffer. This improves resilience to shocks, supports consistent distributions, and gives scope for targeted M&A or buybacks without immediate solvency strain.
Stable Retail Funding & Wealth AUM GrowthMaterial deposit inflows and large wealth asset growth increase low‑cost, sticky funding and diversify fee pools. A stronger deposit base reduces reliance on wholesale funding, supports loan growth, and wealth-to-fee conversion improves recurring revenue durability over the medium term.
Sustained Cost Discipline & SimplificationDemonstrated structural cost reductions, headcount rationalization and IT simplification lower the ongoing expense base. These efficiency actions improve operating leverage, help offset NII pressure, and enhance long‑term margin sustainability and reinvestment capacity.