Change in the Group's reportable segments

RNS Number : 0156V

Banco Santander S.A.

09 April 2021

 

Banco Santander, S.A. , in compliance with the Securities Market legislation, hereby communicates the following:

OTHER RELEVANT INFORMATION

Starting with the financial information for the first quarter of 2021, a change in the Group's reportable segments is to be carried out to reflect the Bank's new organizational structure, in line with the three strategic initiatives outlined in the 2020 Annual Report: One Santander, Digital Consumer Bank and PagoNxt.

These changes align the segment information with their management and have no impact on the Group's accounting figures.

Attached is a presentation which contains the quarterly pro forma financial figures for 2020 to allow a comparison between 2020 and 2021, including the aforementioned changes.

The main changes in Group's segments are:

§ Primary segments:

-  Creation of the new Digital Consumer Bank (DCB) segment, which includes Santander Consumer Finance (SCF), previously included in the Europe segment and Openbank, formerly included in Santander Global Platform. The consumer finance business in the United Kingdom previously reported in the country will be reported in this new segment.

-  Elimination of the Santander Global Platform reporting segment: Openbank is now included within DCB, and Merchant Solutions, Trade Solutions and Consumer Solutions (Superdigital and Pago Next) will be assigned accordingly to each of the three main geographic regions.

§ Secondary segments:

-  Creation of the PagoNxt segment, which includes the Merchant Solutions, Trade Solutions and Consumer Solutions, previously recorded in Santander Global Platform.

-  Elimination of the Santander Global Platform reporting segment, now included under PagoNxt and Retail Banking (mainly Openbank).

-  An adjustment of the perimeter of the Global Customer Relationship Model between Retail Banking and Santander Corporate & Investment Banking and between Retail Banking and Wealth Management & Insurance.

For more information please see the attached presentation in the link below:

http://www.rns-pdf.londonstockexchange.com/rns/0156V_1-2021-4-9.pdf

Boadilla del Monte (Madrid), 9 April 2021

 

END

 

 

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