secwatch.observer — SEC 8-K summary
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Issuer:     Santander Holdings USA, Inc. (SNUS-PI)
CIK:        0000811830
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000811830-23-000018
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811830/000081183023000018/0000811830-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811830/000081183023000018/sov-20230508.htm
  HTML page:      https://secwatch.observer/filing/0000811830-23-000018

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