Business Priorities and Profitability Strategy in Latin America
Strong credit fundamentals
Group
Liquidity Coverage
Ratio (LCR)
158%
Net Stable Funding
Ratio (NSFR)
114%
Funding Plan
2018
2019
EUR Bn
issued
issuance plan²
Covered bonds
1.6
3-5
Senior preferred
0.5
3-5
Senior non-preferred
6.1
--
Hybrids
2.8
1.5
TOTAL
10.9
7.5-11.5
o/w Subordinated4
8.9
1.5
Santander S.A. meets current MREL
III requirement¹ and Group capital
הוויי
requirements (AT1: >1.5%; T2: 2%)...
...so going forward we will focus more
on preferred instruments and covering
debt maturities. We also have the
capacity to fully repay TLTROII
Santander Group's CET1 levels are
well above the minimum loss
absorption trigger of 5.125%:
>€37Bn (ADIs of €56.5Bn)
FX hedging policy in place to preserve
CET1 ratio. Positive sensitivity to
higher interest rates
Santander
Santander's understanding of current policy under the existing recovery and resolution rules
Issuance plan subject to, amongst other considerations, market conditions and regulatory requirements
Data calculated using the IFRS9 transitional arrangements as of December 2018
(4) Including senior non-preferred
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