Santander Holdings USA Q1 net income $325M, down 58% YoY; CET1 falls to 12.7%

Santander Holdings USA, Inc.

Q1 2023 net income $325M vs $778M in Q1 2022; pre-tax income $325M, up from $121M in Q4 2022.
Pre-provision net revenue $867M, down 13% YoY; net interest income $1.51B, up 2% YoY but down QoQ.
Total deposits $78B, uninsured $27.1B; liquidity coverage ratio 108% with $29.2B available sources.
CET1 ratio 12.7% (down from 13.2% in Q4 2022 and 18.5% in Q1 2022); Tier 1 leverage 9.7%.
Total auto originations $6.2B, down 17% YoY; SBNA originations $2.6B, up 26% YoY. Declared $250M dividend to parent.

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