Santander Holdings USA posts Q4 2023 net loss of $58M; NII declines to $1.4B

Santander Holdings USA, Inc.

Net loss of $58M in Q4 2023 vs net income of $120M in Q3 2023; pre-tax loss of $149M.
Net interest income (NII) fell to $1,403M in Q4 2023 from $1,471M in Q3 2023.
Allowance for credit losses ratio rose to 7.5% from 7.0% in Q3 2023; total ACL $6.99B.
CET1 ratio was 12.4% at Dec 31, 2023, down from 12.8% at Sep 30, 2023.
Moody's upgraded SHUSA senior debt rating to Baa2 in Q3 2023.

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