Santander is set to implement significant cost-cutting measures and efficiency improvements as part of its new strategic plan, which will also focus on integrating artificial intelligence solutions.
Santander is in the final stages of preparing its new strategic plan, which is expected to be unveiled at the end of the month and will guide the bank's direction until 2028. This plan aims to significantly enhance efficiency and implement substantial cost reductions, with a specific target of achieving a return on tangible equity (ROTE) exceeding 20%. According to market sources, the focus will also include the adoption of artificial intelligence solutions, which will play a crucial role in the bank's operations moving forward.
The market anticipates that the forthcoming strategic plan will largely continue along the lines of the previous one, with no major surprises expected in the presentation led by Ana Botín, the bank's chairperson. This expectation implies that while there will be improvements and efficiency measures, the general direction of Santander's strategy will remain stable, reflecting a commitment to established goals rather than a radical change in policy. This approach suggests a cautious path forward in a competitive banking landscape.
By emphasizing both cost efficiency and technological advancements, Santander is positioning itself to enhance its market competitiveness and ensure sustainable growth. The inclusion of artificial intelligence is particularly notable, as it highlights the increasing importance of technology in the financial sector and the bank's strategy to leverage innovation for operational improvements and client service enhancements.
