Quarterly Trended Statement Of Operations
Q2 2022 Highlights
In April, SC announced the amendment and extension of its agreement with Stellantis through 2025
In April, SHUSA acquired APS, a market-leading, independent fixed-income broker dealer, enhancing US fixed-income capital markets capabilities
Strategy
Deposits &
Originations
In June, SBNA announced the new Chief Consumer and Digital Transformation Officer role which will expand digital capabilities and enhance the experience
for customers across the United States
In June, San US Auto and Mitsubishi¹ preferred financing partnership commenced
Deposits of $74B, down 6% QoQ
Auto originations of $8.2B, up 9% QoQ ($2.6B in loans and leases through SBNA)
Profitability
Credit
Performance
Q2 profitability impacted by credit performance normalization and increased provisions
Net income of $439M and PPNR2 of $950M, down 29% and 5% QoQ, respectively
SHUSA paid $1.25B in dividend to Santander Group
Credit performance continues to normalize, but remains below pre-pandemic levels
Consolidated net charge-off ratio stable QoQ
Liquidity
Reserves &
Capital
Demonstrated continued market access during volatility; Issued $2.7B in ABS³, ~$500M prime auto loan credit-linked note ("CLN"), $500M 3nc2 public
senior unsecured transaction and $434M of a privately placed 4nc3 senior unsecured transaction
Met the Federal Reserve's total loss absorbing capacity ("TLAC") and long-term debt ("LTD") requirements, with 23.5% TLAC, 6.6% eligible LTD
Allowance ratio of 7.2%, stable QoQ
Common equity Tier 1 ("CET1") ratio of 16.9%, down 160 bps QoQ
For the 2022 Supervisory Stress Test, SHUSA's minimum capital ratios under the Federal Reserve Board severely adverse scenario and ranked in the top
quartile among participating banks
Santander 1 Mitsubishi Motors North America, Inc.
2 Pre-provision net revenue ("PPNR")
3 Asset-backed securities ("ABS"), Q2'22 transactions include one Santander Drive Auto Receivables Trust and one Santander Retail Auto Lease Trust transactions
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