• Nova average return on tangible equity for 2023 was 25.76, a 10.43% decline from 2022.
• Nova average return on tangible equity for 2022 was 28.76, a 42.66% decline from 2021.
• Nova average return on tangible equity for 2021 was 20.16, a 36.86% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.