Banco Santander Reorganizes Reporting Segments
April 09 2021 - 8:24AM
Dow Jones News
By Joshua Kirby
Banco Santander SA said Friday that it is implementing a series
of changes in its reportable segments in line with a new
organizational structure.
The changes will have no effect on overall accounting figures,
the Spanish bank said. Santander will create a new digital consumer
bank (DSB) segment including Santander consumer finance (SCF),
which was previously included in the Europe segment, and Openbank,
previously classed under Santander global platform. The consumer
finance business in the United Kingdom, which was previously
reported under the U.K. business, will be reported in this new
segment.
Santander global platform is eliminated under the changes, which
also include modifications to secondary reporting segments, the
bank said.
The changes will be effective from the bank's results for the
first quarter of 2021, due April 28.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
April 09, 2021 08:09 ET (12:09 GMT)
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