Diversified Business MixBroad-based contributions across retail, GBIS, Global Markets, international operations and BoursoBank reduce reliance on any single franchise. This diversification smooths earnings through cycles, supports cross-selling, and creates multiple structural growth levers over the next 2–6 months and beyond.
Strong Capital And Liquidity BuffersElevated CET1 and ample liquidity give durable regulatory headroom and funding resilience. High LCR/NSFR and large reserves lower short-term refinancing risk, permit continued lending and measured capital returns, and cushion the bank against macro shocks over the medium term.
Improving Efficiency And Cost DisciplineSustained cost reductions and a clear target to push cost-to-income below 60% indicate structural efficiency gains from transformation programs. Persistent cost discipline improves margin durability, supports ROTE expansion and creates room for reinvestment or shareholder distributions if execution holds.