secwatch.observer — SEC 8-K summary
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Issuer:     Santander Holdings USA, Inc. (SNUS-PI)
CIK:        0000811830
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0000811830-23-000041
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 reports Q3 2023 net income $120M; pre-tax loss $28M, NII down 8% YoY
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- Net income $120M vs $228M Q3 2022; pre-tax loss $28M vs income $304M YoY.
- Net interest income $1,471M, down 8% YoY from $1,599M; PPNR $828M vs $940M.
- CET1 ratio 12.8%, Tier 1 risk-based 10.3%, total risk-based 14.2%, all stable or slightly up.
- Moody's upgraded SHUSA senior debt to Baa2; S&P affirmed BBB+ with stable outlook.
- Auto loans 27% of assets; consumer net charge-off rate 2.00%, commercial 0.40%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811830/000081183023000041/0000811830-23-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811830/000081183023000041/sov-20231103.htm
  HTML page:      https://secwatch.observer/filing/0000811830-23-000041

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