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Santander Holdings Usa Inc   (SOVXC)
Other Ticker:  
 
    Sector  Financial    Industry Commercial Banks
   Industry Commercial Banks
   Sector  Financial
 


Santander Holdings Usa Inc Segments

 
 

Business Segments II. Quarter
Revenues
(in millions $)
(Jun 30 2022)
%
(of total Revenues)
II. Quarter
Income
(in millions $)
(Jun 30 2022)
%
(Profit Margin)
Total
2,078.61 100 % 438.55 21.1 %

• View Income Statement • View Competition by Segment • View Annual Report

Growth rates by Segment II. Quarter
Y/Y Revenue
%
(Jun 30 2022)
Q/Q Revenue
%
II. Quarter
Y/Y Income
%
(Jun 30 2022)
Q/Q Income
%
Total
-23.8 % -7.39 % -50.86 % -28.82 %

• View Growth rates • View Competitors Segment Growth • View Market Share

To get more information on Santander Holdings Usa Inc 's Total segment. Select each division with the arrow.

  Santander Holdings Usa Inc 's

Business Segments Description



Retail Banking

The Retail Banking segment is primarily comprised of the Bank's branch locations and the residential mortgage business. The branch locations offer a wide range of products and services to customers, and attract deposits by offering a variety of deposit instruments, including demand and interest-bearing demand deposit accounts, money market and savings accounts, certificates of deposit (CDs) and retirement savings products. The branch locations also offer consumer loans such as credit cards, home equity loans and lines of credit, as well as business banking and small business loans to individuals. The Retail Banking segment also includes investment services and provides annuities, mutual funds, managed monies, and insurance products, and acts as an investment brokerage agent to the customers of the Retail Banking segment.

Auto Finance & Business Banking

The Auto Finance & Business Banking segment currently provides indirect consumer leasing as well as commercial loans to dealers and financing for commercial vehicles and municipal equipment. The Auto Finance and Alliances segment includes the activity related to the Bank's intercompany agreements with SC.

In conjunction with the Chrysler Agreement, the Bank has an agreement with SC under which SC provides the Bank with the first right to review and assess Chrysler dealer floor plan lending opportunities and, if the Bank elects, to provide the proposed financing. Historically and through September 30, 2014, SC provided servicing under this arrangement. Effective October 1, 2014, the servicing of all Chrysler Capital receivables from dealers, including receivables held by the Bank and by SC, were transferred to the Bank. The agreements executed in connection with this transfer require SC to provide the Bank first right to review and assess Chrysler Capital dealer lending opportunities which requires the Bank to pay SC a relationship management fee based upon the performance and yields of Chrysler Capital dealer loans held by the Bank. All intercompany revenue and fees between the Bank and SC are eliminated in the consolidated results of SHUSA. The terms of this lending relationship were renegotiated between SBNA and SC in the first quarter of 2016. The terms provide greater fee income opportunity for SC for leads provided that meet SBNA approved credit criteria.

In 2014, the Bank entered into a flow agreement with SC under which the Bank has the first right to review and approve all prime and super prime Chrysler Capital consumer vehicle lease applications. SC could review any applications declined by the Bank for SC’s own portfolio. SC provided servicing and receives an origination fee on all leases originated under this agreement. All intercompany revenue and fees between the Bank and SC are eliminated in the consolidated results of SHUSA. In April 2015, the Bank and SC determined not to renew this direct origination agreement, which expired by its terms on May 9, 2015.

Real Estate and Commercial Banking

The Real Estate and Commercial Banking segment offers commercial real estate loans, multifamily loans, commercial loans, and the Bank's related commercial deposits. This segment also provides financing and deposits for government entities and niche product financing for specific industries, including oil and gas and mortgage warehousing, among others.

Global Corporate Banking ("GCB")

The GCB segment serves the needs of global commercial and institutional customers by leveraging the international footprint of the Santander group to provide financing and banking services to corporations with over $500 million in annual revenues. GCB's offerings and strategy are based on Santander's local and global capabilities in wholesale banking.

Santander Consumer USA Inc. ("SC")

SC is a specialized consumer finance company focused on vehicle finance and third-party servicing. SC’s primary business is the indirect origination of RICs, principally through manufacturer-franchised dealers in connection with their sale of new and used vehicles to retail consumers. In conjunction with the Chrysler Agreement, SC offers a full spectrum of auto financing products and services to Chrysler customers and dealers under the Chrysler Capital brand. These products and services include consumer RICs and leases, as well as dealer loans for inventory, construction, real estate, working capital and revolving lines of credit. SC also originates vehicle loans through a web-based direct lending program, purchases vehicle RICs from other lenders, and services automobile, recreational and marine vehicle portfolios for other lenders. Additionally, SC has several other relationships through which it holds personal loans, private-label credit cards and other consumer finance products. In the third quarter of 2015, SC announced that it would exit personal lending, and such assets were accordingly classified as held for sale. In February 2016, SC announced the sale of substantially all of the $900 million Lending Club portfolio. The remaining personal lending portfolio is being actively marketed.

SC has entered into a number of intercompany agreements with the Bank as described above as part of the Auto Finance & Business Banking segment. All intercompany revenue and fees between the Bank and SC are eliminated in the consolidated results of SHUSA.

   

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