Last checked at 4 Jul 2019 17:27
Banco Santander, S.A., pursuant to the provisions of the Spanish Securities Market Act
(Ley del Mercado de Valores), hereby announces the following
RELEVANT INFORMATION
Attached is a presentation containing selected quarterly consolidated financial information by segments for 2018 and the first quarter of 2019 which has been prepared following the new organisational structure of the Group as detailed below. The consolidated financial information for the second quarter of 2019 will be provided on this new basis and, therefore, the 2018 and first quarter of 2019 data are provided to allow better quarter-on-quarter and year-on-year comparability. The modification of this information provided by segments does not result in any alteration into the consolidated financial information of the Group, including its results and equity.
This new reporting is the result of the changes to the organisational structure announced at the Investor Day held on 3 April which led to the creation of three regions (Europe, North America and South America) as well as the following modifications to the perimeter of some countries: Santander UK whose perimeter has been aligned to the segregated model according to the requirements of the Banking Reform Act (Ringfenced and Non Ring-fenced business), and Spain to the local customer related business (with the Boadilla Hub now included within the rest of Europe, the Real Estate Activity Spain unit included within Spain, and Openbank moved from Spain to a new Santander Global Platform area).
The Santander Global Platform (SGP) area has been created to consolidate all the global digital services (Openbank, Open Digital Services, Global Payments Services, and Digital Assets) under a single umbrella.
Regarding the secondary segments, the insurance business, previously included in Retail Banking, is now included in Wealth Management, which has been renamed Wealth Management & Insurance. Furthermore, changes related to the Global Customer Relationship Model have been made, with a recurring annual adjustment to the perimeter between Retail Banking, Santander Wealth Management & Insurance and Santander Corporate & Investment Banking. These changes do not impact the geographic businesses.
Find the 2018 and Q1'19 income statements and balance sheets according to the new reporting structure pressing the link below:
http://www.rns-pdf.londonstockexchange.com/rns/5725E_1-2019-7-4.pdf
Boadilla del Monte (Madrid), 4 July 2019