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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