secwatch.observer — SEC 8-K summary
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Issuer:     Santander Holdings USA, Inc. (SNUS-PI)
CIK:        0000811830
Form:       8-K
Filed at:   2024-03-04T23:59:59+00:00
Accession:  0000811830-24-000013
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 posts Q4 2023 net loss of $58M; NII declines to $1.4B
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811830/000081183024000013/0000811830-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811830/000081183024000013/sov-20240304.htm
  HTML page:      https://secwatch.observer/filing/0000811830-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer