Banco Santander S.A. SREP Capital Requirements 2025
11 Décembre 2024 - 1:00PM
RNS Regulatory News
RNS Number : 7194P
Banco Santander S.A.
11 December 2024
Banco Santander, S.A., ("Santander")
communicates the following:
OTHER RELEVANT
INFORMATION
Santander has been informed by the
European Central Bank ("ECB"), after following its Supervisory
Review and Evaluation Process ("SREP"), of its decision regarding the
minimum prudential capital requirements effective as of 1 January
2025.
The ECB's decision maintains an
unchanged Pillar 2 requirement ("P2R") of 1.74% at a consolidated level,
of which at least 0.98% must be covered with Common Equity Tier 1
capital ("CET1"). 9 basis
points of P2R reflect the capital add-on due to the ECB's
prudential expectations on calendar provisioning in connection with
non-performing loans.
The following table shows the
minimum CET1 and total capital requirements applicable at the
consolidated level as of 1 January 2024 and as of 1 January 2025,
as well as Santander's ratios[1] as of 30
September 2024:
|
|
Minimum
Requirement
|
Data
|
|
|
|
As of
01/01/2024
|
As of
01/01/2025
|
As of
30/09/2024
|
|
|
|
CET1
|
9.60%
|
9.67%[2]
|
12.48%
|
|
|
|
|
|
|
Total Capital
|
13.86%
|
13.93%[3]
|
17.06%
|
|
|
|
|
|
As described in the table above,
Santander maintains a surplus of capital over these requirements,
both in CET1 and total capital terms.
Boadilla
del Monte (Madrid), 11 December 2024
IMPORTANT
INFORMATION
Not
a securities offer
This document and the information it
contains does not constitute an offer to sell nor the solicitation
of an offer to buy any securities.
Past
performance does not indicate future outcomes
Statements about historical
performance or growth rates must not be construed as suggesting
that future performance, share price or results (including earnings
per share) will necessarily be the same or higher than in a
previous period. Nothing in this document should be taken as a
profit and loss forecast.
[2] The
minimum requirement ratio of CET1 at consolidated level consists
of: (a) the minimum capital requirement of Pillar 1 (4.50%), (b)
P2R (0.98%), (c) the capital conservation buffer (2.50%), (d) the
requirement arising from the consideration of Santander as Other
Systemically Important Institution ("OSII"), which has been fixed
by Banco de España effective on 1 January 2025 (1.25%), (e) the
systemic risk buffer requirement, estimated as of 31 December 2024,
arising from the activation by Banco de España of reciprocity with
Italy (0.02%) and Portugal (0.02%), and (f) the countercyclical
capital buffer requirement (0.3979%), calculated as of 30 September
2024, and for which, according to the resolution from Banco de
España issued on 1 October 2024, an increase of 0.50% over the
exposures located in Spain will be applicable from 1 October 2025,
and an additional increase of 0.50% over such exposures is expected
to be applicable from 1 October 2026. With respect to the minimum
requirement applicable as of 1 January 2024, the increase of 7
basis points is due to variations given in the items listed in limb
(f), whose value was 0.3693%, as disclosed in the inside
information filing dated 11 December 2023, and for limb (e), whose
value was not included in such filing since the activation of
reciprocity by Banco de
España with Portugal is effective on 1 October 2024, and
with Italy on 31 December 2024.
[3] In
addition to the CET1 requirement, the minimum total capital
requirement at consolidated level includes: (i) Pillar 1
requirements of Additional Tier 1 (1.5%) and Tier 2 (2%), and (ii)
part of the P2R requirements which can be covered by Additional
Tier 1 and Tier 2 (0.33% y 0.44%, respectively), remaining
unchanged with respect to the minimum requirement applicable as of
1 January 2024, save for the CET1 increase of 7 basis points
specified in the previous section.
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