The first half of the year was impacted by heavy charges, fortunately mitigated by strong loan provision releases. Management increased its 2023 RoTE objective by 1ppt to above 9%, a demanding target that still has to be reflected in consensus or AV projections.
04 Aug 2021
Provision releases to the rescue
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Provision releases to the rescue
The first half of the year was impacted by heavy charges, fortunately mitigated by strong loan provision releases. Management increased its 2023 RoTE objective by 1ppt to above 9%, a demanding target that still has to be reflected in consensus or AV projections.