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BLOOMBERG Bloomberg Surveillance May 4, 2017

Hoursr in hal af an time. 4sbcs First Quarter hit 5. 9 billion. It will contemplate share buybacks as and when appropriate. Anna edwards spoke with the banks cfo and asked whether 2017 will be the end of revenue decline. I have to say id be a happy man if i could close out 2017 right now. Revenued to see 4 growth over the course of 2017 and notwithstanding a very good start in the First Quarter. That is the guidance we are holding as we move into discussions with investors. Anna can i ask you about share buybacks . Were were some that disappointed to not see another. Last summer he talked, you said the ratio target of 12 . If youre about that you will contemplate returning cash. You are well above that. Why no cash right now . We have just finished a 1 billion buyback on the 12th of april. When you add to what we did last year, that is 3. 5 billion. I would not encourage invest ....

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