underlying attributable profit
underlying attributable profit
(*) Adjusted RoTE: adjusted based on deployed Group’s Capital calculated as contribution of RWAS at 12%. Using tangible equity, RoTE is 11.5%
In North America, we provide a full range of financial services with particular focus on Retail, Private and Corporate Banking. We aim to be the primary bank of our customers in each of our markets, leveraging on our operations in Mexico where Santander is the 2nd financial group of the country in assets, as well as on our leading position in auto financing in the U.S.
While our local operations are managed according to their specific market strategies, we seek to increase coordination and cooperation among them, creating a joint value proposition, where efficiencies can be exploited and best practices shared.
Santander has been present in North America since 1968, however did not take an active regional approach until 2019 when Héctor Grisi was appointed the regional head of North America. Leveraging bank acquisitions and mergers in both countries, Santander North America has focused on executing organic growth opportunities in our high performing and at-scale businesses (Auto, and commercial and consumer loans) while strengthening our globally connected CIB and Wealth Management businesses.
Building a more responsible bank by embedding ESG in our strategic priorities
Our ambition as a region is to be aligned with and contribute to our Global Responsible Banking Agenda and Public Commitments. We will focus on expanding and implementing sustainable finance opportunities within our businesses together with promoting the financial health of our diverse customer base, especially the most vulnerable.
Héctor Grisi Checa
Regional Head of North America &
CEO of Santander Mexico
Digital Consumer Bank
Non-IFRS and alternative performance measures
In addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, the information above contains certain financial measures that may constitute alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (“Non-IFRS Measures”). Such APMs and non-IFRS measures have been calculated using the financial information from Santander Group but are not defined or detailed in the applicable financial reporting framework and have neither been audited nor reviewed by our auditors. While we believe that these APMs and non-IFRS measures are useful in evaluating our business, this information should be considered as supplemental in nature and is not meant as a substitute of IFRS measures. In addition, other companies, including companies in our industry, may calculate or use such measures differently, which reduces their usefulness as comparative measures. For further details of the APMs and Non-IFRS Measures used by Banco Santander, S.A. (Banco Santander), as the parent company of Santander Group, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the Banco Santander´s most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission, as well as the section “Alternative performance measures” of the annex to Banco Santander´s most recent quarterly Financial Report. These documents are available on Banco Santander’s website (www.santander.com).
The businesses included in each of the Santander Group primary segments and the accounting principles under which their results are presented in such documents may differ from the businesses included and accounting principles applied in the financial information separately prepared and disclosed by its subsidiaries (some of which are publicly listed) which in name or geographical description may seem to correspond to the business areas covered in such Santander Group documentation. Accordingly, the results of operations and trends shown for the Santander Group´s business areas may differ materially from those of such subsidiaries.