8th Apr 2013 08:58
MATERIAL FACT
Attached is a presentation containing the pro-forma quarterly financial data for the years 2011 and 2012, restated in order to provide a comparison between such years and 2013, when changes will take place in the way of reporting certain financial information.
Such restatement does not entail any alteration in the shareholders' equity or the results of the Group in 2011 and 2012, except with respect to the adaptation to IAS 19 concerning actuarial profit and loss originating from remuneration paid to employees, which from 1st January 2013 should be recorded immediately against net worth (as explained in detail in note 1.b of the Auditors' Report on the annual consolidated accounts of Banco Santander already published on 19th February).
The main changes occurring in the Group's financial reporting in 2013 are the following:
- Adaptation to IAS 19.
- Contemplated sale of the Santander UK cards business previously acquired from GE.
- Integration of the Santander branch network with Banesto and Banif.
- Segregation of real estate activity in Spain.
- Incorporation into Global Banking & Markets of the wholesale banking business of Poland and Banesto, previously included in Commercial Banking.
Boadilla del Monte (Madrid), 8th April 203
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