TIDMBNC
RNS Number : 6308K
Banco Santander S.A.
22 December 2022
Banco Santander, S.A., ("Santander") in accordance with the
provisions of the securities market legislation, communicates the
following:
INSIDE INFORMATION
The results of the Supervisory Review and Evaluation Process
("SREP") have now been confirmed and Santander has been informed by
the European Central Bank ("ECB") of its decision regarding the
minimum prudential capital requirements effective as of 1 January
2023.
The ECB's decision establishes a Pillar 2 requirement ("P2R") of
(i) of 1.58% at a consolidated level (which entails an increase of
8 basis points with respect to the last SREP decision effective on
1 March 2022, due to the ECB's prudential expectations on calendar
provisioning in connection with non-performing loans), of which at
least 0.89% must be covered with Common Equity Tier 1 capital
("CET1"); and (ii) of 1.50%, at an individual level, of which at
least 0.84% must be covered with CET1, this remaining unchanged
from the last SREP decision effective on 1 March 2022.
The minimum requirement ratio of CET1 at consolidated level
consists of: (a) the Pillar 1 requirements, (b) P2R, (c) the
capital conservation buffer, (d) the requirement derived from the
consideration of Santander as a global systemic financial
institution, and (e) the countercyclical capital buffer. The
following table shows the minimum CET1 and total capital
requirements, as well as Santander's such phased-in [1] ratios as
of 30 September 2022, both at a consolidated and an individual
level.
MINIMUM REQUIREMENT DATA AS OF 30/09/2022
Consolidated Individual Consolidated Individual
-------------- ----------- ------------- -----------
CET1 8.91% [2] 7.85% 12.24%1 15.98%
-------------- ----------- ------------- -----------
CAPITAL
TOTAL 13.11% [3] 12.01%3 16.18%1 20.95%
-------------- ----------- ------------- -----------
As described in the table above, Santander maintains a surplus
of capital over these requirements, both at a consolidated and an
individual level. Therefore, these capital requirements do not
imply any limitation to the distribution or payment to the holders
of Santander's Additional Tier 1 securities.
Boadilla del Monte (Madrid), 22 December 2022
IMPORTANT INFORMATION
No offer
The information contained in this document is subject to, and
must be read in conjunction with, all other publicly available
information, including, where relevant any fuller disclosure
document published by Santander. Any person at any time acquiring
securities must do so only on the basis of such person's own
judgment as to the merits or the suitability of the securities for
its purpose and only on such information as is contained in such
public information having taken all such professional or other
advice as it considers necessary or appropriate in the
circumstances and not in reliance on the information contained in
this document. No investment activity should be undertaken on the
basis of the information contained in this document. In making this
document available Santander gives no advice and makes no
recommendation to buy, sell or otherwise deal in shares in
Santander or in any other securities or investments whatsoever.
Neither this document nor any of the information contained
therein constitutes an offer to sell or the solicitation of an
offer to buy any securities. No offering of securities shall be
made in the United States except pursuant to registration under the
U.S. Securities Act of 1933, as amended, or an exemption therefrom.
Nothing contained in this document is intended to constitute an
invitation or inducement to engage in investment activity for the
purposes of the prohibition on financial promotion in the U.K.
Financial Services and Markets Act 2000.
Historical performance is not indicative of future results
Nothing in this document should be taken as a profit
forecast.
Third Party Information
In particular, regarding the data provided by third parties,
neither Santander, nor any of its administrators, directors or
employees, either explicitly or implicitly, guarantees that these
contents are exact, accurate, comprehensive or complete, nor are
they obliged to keep them updated, nor to correct them in the case
that any deficiency, error or omission were to be detected.
Moreover, in reproducing these contents in by any means, Santander
may introduce any changes it deems suitable, may omit partially or
completely any of the elements of this document, and in case of any
deviation between such a version and this one, Santander assumes no
liability for any discrepancy.
[1] Data calculated by applying the transitional provisions of
the applicable regulation, of which the most significant are those
related to IFRS 9. Without the application of these provisions, the
fully loaded CET1 ratio and the consolidated total capital, at 30
September 2022, would be 12.10% and 16.00%, respectively.
[2] The minimum requirement ratio of CET1 at consolidated level
consists of: (a) the minimum capital requirement of Pillar 1
(4.50%), (b) P2R (0.89%), (c) the capital conservation buffer
(2.50%), (d) the requirement arising from the consideration of
Santander as a global systemic financial institution (1%), and (e)
the countercyclical capital buffer requirement (0.0253%),
calculated as of 30 September 2022.
3 In addition to the CET1 requirements, the minimum total
capital requirements at both consolidated and individual level
include: (i) Pillar 1 requirements of Additional Tier 1 (1.5%) and
Tier 2 (2%), and (ii) part of the P2R requirements that can be
covered by Additional Tier 1 and Tier 2 ( 0.30% and 0.40%,
respectively, at a consolidated level, and 0.28% and 0.38%
respectively at an individual level) .
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END
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December 22, 2022 05:17 ET (10:17 GMT)
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