REG - Banco Santander S.A. - New financial reporting

Banco Santander SAAnnouncement

04/04/2022 17:45

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RNS Number : 2192H  Banco Santander S.A.  04 April 2022

Banco Santander, S.A. (the "Bank" or "Banco Santander"), in compliance with
the Securities Market legislation, hereby communicates the following:

 

OTHER RELEVANT INFORMATION

 

From and including the first quarter of 2022, a change in Grupo Santander's
(the "Group") financial reporting of segments will be carried out to reflect
two main modifications, as described below. The attached presentation includes
the Group's quarterly pro forma financial figures for 2021 reported on this
new basis to allow a comparison between 2021 and 2022 results.

http://www.rns-pdf.londonstockexchange.com/rns/2192H_1-2022-4-4.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2192H_1-2022-4-4.pdf)

Aiming at providing more transparency and a better capital allocation to
continue enhancing our profitability, the main modifications are as follows:

 

•     Reallocation of certain financial costs of the Corporate Centre
segment in the Group's results to the business units:

•     Further clarity in the MREL/TLAC regulation 1  makes it possible
to better allocate the cost of the eligible debt issuances to the business
units;

•     In addition, other financial costs, primarily the cost of funding
the excess capital held by the business unit above of Group's CET1 ratio have
been reassigned accordingly.

•     Downsizing of Other Europe:

•     The Corporate and Investment Banking (CIB) branches of Banco
Santander in Europe and other business lines previously reported under "Other
Europe" have been now integrated into the Spain unit to reflect how the
business will be managed and supervised, in line with other regions.

 

The abovementioned changes have no impact on the Group's reported consolidated
financial figures nor on the Group's consolidated financial targets that have
been set for the future.

 

A presentation will take place tomorrow, Tuesday 5 April 2022, at 13:00 hrs
(Madrid time). For further information, please contact Investor Relations
(investor@gruposantander.com (mailto:investor@gruposantander.com) ).

 

 

Boadilla del Monte (Madrid), 4 April 2022

 

 

 

 1 - MREL: Minimum Requirement for Own Funds and Eligible Liabilities, binding
minimum requirement for own funds and eligible liabilities, both total and
subordinated, with loss absorption capacity, which is required to be met under
the Bank Recovery and Resolution Directive (BRRD).

    - TLAC: Total loss absorbing capacity, requirement which is required to
be met under the Capital Requirements Directive V (CRD V) package.

 

 

 

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