SANTANDER (dpa-AFX) - Banco Santander, S.A. (BNC.L, BSBR, SAN), a Spanish financial services provider, said on Tuesday that it is consolidating worldwide activities under five business areas to improve its customer service. In addition, for full year 2023, the company has reaffirmed its revenue outlook.
The five-business areas comprise Retail & Commercial, Digital Consumer Bank, Payments, Corporate & Investment Banking, and Wealth Management & Insurance.
These areas will be the lender's primary reporting segments from January 2024.
The company expects that the new move will support its targets to add 40 million customers by 2025, to post an increase in return on tangible equity to 15 percent to 17 percent, to achieve double-digit average annual growth in tangible net asset value per share plus dividend per share through the cycle.
For 2023, Banco said that it is on track to achieve double-digit revenue growth.
For the period from 2023 to 2025, the lender aims to deliver double-digit average annual growth in tangible net asset value per share plus dividend per share through the cycle.
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