About us
Santander US is a diversified financial business with competitive advantages in branch/digital, banking, auto, global corporate and private banking. Santander US is comprised of several financial companies: Santander Bank, N.A., Santander Consumer USA Holdings Inc., Banco Santander International of Miami, Santander Securities LLC of Boston, Santander Investment Securities Inc. of New York, and several other subsidiaries.
We aim to be the bank of choice in each of our markets and to enhance our position as a national leader in auto finance by acting responsibly.
Our history
Grupo Santander first entered the US market in 1968 with the opening of a representative agency in New York, which was transformed into a branch in 1977. We have been growing and increasing our presence in the country, largely through the acquisition of several entities, notably First Fidelity, Sovereign Bank and Drive Financial Services. In recent years we have been working in improving SBNA’s efficiency and strengthening the business in SC USA.
Strategic priorities
- Targeting segments with proven competitive advantage and strong Group network contribution
- Simplification: rationalize businesses and products with limited scale
- Transformation: leverage Group digital capabilities to drive scalability and lower cost to serve
- Network Contribution: leverage Group’s network to drive top line growth and achieve scale synergies
- Profitable growth: support growth across target businesses while maintaining disciplined capital management
Non-IFRS and alternative performance measures
In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, the information above contains certain financial measures that may constitute alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (“Non-IFRS Measures”). Such APMs and non-IFRS measures have been calculated using the financial information from Santander Group but are not defined or detailed in the applicable financial reporting framework and have neither been audited nor reviewed by our auditors. While we believe that these APMs and non-IFRS measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute of IFRS measures. In addition, other companies, including companies in our industry, may calculate or use such measures differently, which reduces their usefulness as comparative measures. For further details of the APMs and Non-IFRS Measures used by Banco Santander, S.A. (Banco Santander), as the parent company of Santander Group, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the Banco Santander´s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission, as well as the section “Alternative performance measures” of the annex to Banco Santander´s most recent quarterly Financial Report. These documents are available on Banco Santander’s website (www.santander.com).
The businesses included in each of the Santander Group primary segments and the accounting principles under which their results are presented in such documents may differ from the businesses included and accounting principles applied in the financial information separately prepared and disclosed by its subsidiaries (some of which are publicly listed) which in name or geographical description may seem to correspond to the business areas covered in such Santander Group documentation. Accordingly, the results of operations and trends shown for the Santander Group´s business areas may differ materially from those of such subsidiaries.
