H1'22 Financial Results and PagoNxt Highlights
Capital
Santander's capital levels, both phased-in and fully loaded, exceed
minimum regulatory requirements
Jun-22
SREP capital requirements and MDA*
Assumed capital requirements (fully-loaded)**
Jun-22
16.18%
15.95%
13.01%
+317bps
2.47%
T2
>15%
AT1
1.45%
+307bps
13.01% +294bps
2.45%
2.00%
T2
T2
2.38%
T2
AT1
+340bps
2.38%
+287bps
1.45%
1.50% AT1
1.78%
G-SIB buffer
AT1
1.00%
1.78% +320bps
CCOB
2.50%
CCYB,
0.01%
G-SIB buffer
1.00%
1
12.25%
CET1
2.50%
CCOB
Pillar 2 R
0.84%
CCYB,
0.01%
12.05%
11-12%
CET1
0.84%
Pillar 2 R
4.50%
Pillar 1
4.50%
Pillar 1
Regulatory Requirement
2022
Group ratios Jun-22
Following regulatory changes in response to the covid-19 crisis,
the minimum CET1 to be maintained by the Group is 8.85%
(was 9.69% pre-changes).
▸ As of Jun-22, the distance to the MDA is 307 bps² and the CET1
management buffer is 340 bps.
Assumed regulatory
requirement 2022
Group ratios Jun-22
Medium-term
target ratios
▸ AT1 and T2 ratios are planned to be close to 1.5% and 2% of RWAS
respectively.
* The phased-in ratio includes the transitory treatment of IFRS 9, calculated in accordance with article 473 bis of the Capital Requirements Regulation (CRR2) and subsequent modifications
Santander introduced by Regulation 2020/873 of the European Union. Total phased-in capital ratios include the transitory treatment according to chapter 4, title 1, part 10 of the CRR2.
Fully-loaded CRR and fully-loaded IFRS 9.
**
(1) Countercyclical buffer as of Mar-22.
=1
(2) MDA trigger = 3.40% -0.33% = 3.07% (33bps of AT1 shortfall is covered with CET1).
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