Banco Santander S.A. Change in the Group's reportable segments (0156V)
April 09 2021 - 6:53AM
UK Regulatory
TIDMBNC
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
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