CASA unveiled its MTP 2025 targets during its Investor Day: the group now targets more than €6bn net income, as a result of a 3.5% revenue CAGR (upgraded) combined with a 50bp positive jaws effect (<60% C/I ratio, unchanged) and a normalised 40bp cost of risk. Such targets reflect an improved profitability (>12% RoTE) despite management keeping a conservative view on capitalisation (11% CET1 ratio, unchanged) and distribution (50% dividend payout, unchanged).
