Banco Santander S.A. New way of presenting the Financial Statements (5725E)
July 04 2019 - 11:27AM
UK Regulatory
TIDMBNC
RNS Number : 5725E
Banco Santander S.A.
04 July 2019
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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