12.30.2016 
SANTANDER HOLDINGS USA, INC. 
Fixed Income Investor Presentation 
Third Quarter 2016
 2 Disclaimer 
This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities 
Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such 
as “may,” “could,” “should,” “looking forward,” “will,” “would,” “believe,” “expect,” “hope,” “anticipate,” “estimate,” “intend,” “plan,” “assume” or similar 
expressions are intended to indicate forward-looking statements. 
Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements 
are made, these statements are not guarantees of future performance and involve risks and uncertainties based on various factors and 
assumptions, many of which are beyond SHUSA’s control. Among the factors that could cause SHUSA’s financial performance to differ materially 
from that suggested by the forward-looking statements are: (1) the effects of regulation and policies of the Board of Governors of the Federal 
Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the 
Consumer Financial Protection Bureau, including changes in trade, monetary and fiscal policies and laws, including interest rate policies of the 
Federal Reserve, the failure to adhere to which could subject SHUSA to formal or informal regulatory compliance and enforcement actions; banking, 
capital and liquidity, regulations and policies and the application and interpretations thereof by regulatory bodies, and the impact of changes in and 
interpretations of generally accepted accounting principles in the United States of America; (2) the strength of the United States economy in general 
and regional and local economies in which SHUSA conducts operations in particular, which may affect, among other things, the level of non-
 performing assets, charge-offs, and provisions for credit losses; (3) the ability of certain European member countries to continue to service their debt 
and the risk that a weakened European economy could negatively affect U.S.-based financial institutions, counterparties with which SHUSA does 
business, as well as the stability of global financial markets; (4) inflation, interest rate, market and monetary fluctuations, which may, among other 
things, reduce net interest margins, impact funding sources and affect the ability to originate and distribute financial products in the primary and 
secondary markets; (5) adverse movements and volatility in debt and equity capital markets and adverse changes in the securities markets, 
including those related to the financial condition of significant issuers in SHUSA’s investment portfolio; (6) SHUSA’s ability to manage changes in the 
value and quality of its assets, changing market conditions that may force management to alter the implementation or continuation of cost savings or 
revenue enhancement strategies and the possibility that revenue enhancement initiatives may not be successful in the marketplace or may result in 
unintended costs; (7) SHUSA's ability to grow revenue, manage expenses, attract and retain highly-skilled people and raise capital necessary to 
achieve its business goals and comply with regulatory requirements and expectations; (8) SHUSA’s ability to timely develop competitive new 
products and services in a changing environment that are responsive to the needs of SHUSA's customers and are profitable to SHUSA, the 
acceptance of such products and services by customers, and the potential for new products and services to impose additional costs on SHUSA and 
expose SHUSA to increased operational risk; (9) changes or potential changes to the competitive environment, including changes due to regulatory 
and technological changes, the effects of industry consolidation and perceptions of SHUSA as a suitable service provider or counterparty; (10) the 
ability of SHUSA and its third-party vendors to convert and maintain SHUSA’s data processing and related systems on a timely and acceptable 
basis and within projected cost estimates; (11) SHUSA's ability to control operational risks, data security breach risks and outsourcing risks, and the 
possibility of errors in quantitative models SHUSA uses to manage its business and the possibility that SHUSA's controls will prove insufficient, fail 
or be circumvented; (12) the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted in July 2010, which is a significant 
development for the industry, the full impact of which will not be known until the rule-making processes mandated by the legislation are complete, 
although the impact has involved and will involve higher compliance costs that have affected and will affect SHUSA’s revenue and earnings 
negatively; (13) SHUSA's ability to promote a strong culture of risk management, operating controls, compliance oversight and governance that 
meets regulatory expectations; (14) competitors of SHUSA that may have greater financial resources or lower costs, may innovate more effectively, 
or may develop products and technology that enable those competitors to compete more successfully than SHUSA;
 3 Disclaimer (cont.) 
(15) acts of terrorism or domestic or foreign military conflicts; and acts of God, including natural disasters; (16) the outcome of ongoing tax audits by 
federal, state and local income tax authorities that may require SHUSA to pay additional taxes or recover fewer overpayments compared to what 
has been accrued or paid as of period-end; (17) adverse publicity, whether specific to SHUSA or regarding other industry participants or industry-
 wide factors, or other reputational harm; and (18) SHUSA’s success in managing the risks involved in the foregoing. 
Because this information is intended only to assist investors, it does not constitute investment advice or an offer to invest, and in making this 
presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco 
Santander, S.A. (“Santander”), SHUSA, Santander Bank, N.A. (“Santander Bank” or “SBNA”), or Santander Consumer Holdings USA, Inc. (“SC”)  in 
any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future 
results or expectations.  As with all investments, there are associated risks, and you could lose money investing.  Prior to making any investment, a 
prospective investor should consult with its own investment, accounting, legal, and tax advisers to evaluate independently the risks, consequences, 
and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the U.S. 
Securities Act of 1933, as amended, or an exemption therefrom.   
In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts.  These ratios, each of 
which is defined in this document, if utilized, may include Pre-Tax Pre-Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and 
the Texas Ratio. This information supplements our results as reported in accordance with GAAP and should not be viewed in isolation from, or as a 
substitute for, our GAAP results, among others. We believe that this additional information and the reconciliations we provide may be useful to 
investors, analysts, regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to 
which the items are indicative of our ongoing operations.  Where applicable, we provide GAAP reconciliations for such additional information.  
On February 18, 2014, the Federal Reserve issued the final rule implementing certain of the enhanced prudential standards mandated by Section 
165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Final Rule") to strengthen regulatory oversight of foreign banking 
organizations ("FBOs"). Under the Final Rule, FBOs with over $50 billion of U.S. non-branch assets, including Santander, were required to 
consolidate U.S. subsidiary activities under an intermediate holding company ("IHC"). Due to its U.S. non-branch total consolidated asset size, 
Santander was subject to the Final Rule. As a result of this rule, Santander transferred substantially all of its equity interests in U.S. bank and non-
 bank subsidiaries previously outside SHUSA to SHUSA, which became an IHC effective July 1, 2016. These subsidiaries included Santander 
BanCorp,  Banco Santander International (“BSI”), Santander Investment Services, Inc. (“SIS”), Santander Securities LLC (“SSLLC”), as well as 
several other subsidiaries. 
As these entities were and are solely owned and controlled by Santander prior to and after July 1, 2016, in accordance with Accounting Standards 
Codification 805, the transaction has been accounted for under the common control guidance which requires SHUSA to recognize the assets and 
liabilities transferred at their historical cost of the transferring entity at the date of the transfer. Additionally, as this transaction represents a change in 
reporting entity, the guidance requires retrospective combination of the entities for all periods presented in the financial statements as if the 
combination had been in effect since inception of common control. The entities transferred approximately $14.1 billion of assets and approximately 
$11.8 billion of liabilities to SHUSA on July 1, 2016. The transfer added approximately $69.9 million and $68.8 million of net income to SHUSA for 
the nine-month periods ended September 30, 2016 and 2015 after the financial statements have been recast to reflect the operations of the 
commonly controlled entities for all periods presented as a change in reporting entity.  Historical financial information in this presentation has 
not been  consistently recasted to reflect the above financial reporting requirements.
 4 
Santander  
Bank 
Santander  
Consumer  
USA 
Santander  
Puerto Rico 
Banco  
Santander   
International 
Santander   
Investment 
Securities 
SHUSA is a bank holding company (“BHC”) headquartered in Boston, MA and is 
wholly owned by Santander (NYSE: SAN) 
Introduction 
• SHUSA consists of: 
• Well established banking franchises in      
the Northeast and Puerto Rico 
• A nationwide auto finance business 
• A wholesale broker-dealer in New York 
• International Private banking business 
• Regulated by the Federal Reserve  
• SEC registered1 
12SHUSA’s SEC filings are accessible on the SEC website at  www.sec.gov.  Filings are also accessible through 
SHUSA’s website at www.santanderus.com
 5 
 
     
Corporate Structure1 
 
Santander Holdings USA, Inc. 
$139.2BN Assets 
 
                               
  
Santander Bank, 
N.A. 
$85.5BN Assets 
 
  
  
Santander 
Consumer USA 
Holdings Inc.  
    $38.7BN Assets 
 
On July 1, 2016, SHUSA became the IHC for Santander’s U.S. operations 
1Balances as of September 30, 2016 
2Puerto Rico =  includes Banco Santander Puerto Rico and SSLLC 
“Approximately 
58.9% ownership 
Banco Santander, S.A. 
Puerto Rico2 
$5.3BN Assets 
 
BSI 
$7.2BN Assets 
 
SIS 
$1.4BN Assets 
 
100% ownership 
100% ownership 
Added to SHUSA effective July 1, 2016
 6 
3Q16 Executive Summary1 
Liquidity and 
Funding 
 
Capital 
Balance Sheet 
1Data as of 9/30/16 unless otherwise noted  4Liquidity Coverage Ratio  
2Includes non controlling interest 
3YTD 2016 includes $69.9MM in net income from the IHC entities consolidated on July 1, 2016 
Earnings 
Credit Quality 
 SHUSA 3Q16 net income $226MM2, YTD 2016 net income $611MM2,3 
 SHUSA 3Q16 net interest margin of 5.87%  
 
        
 
 In July 2016 SHUSA added $14.1BN in assets and $11.8BN in liabilities through 
the consolidation of U.S. entities for the formation of the IHC 
 YTD 2016 SHUSA’s balance sheet has increased by $11BN as the IHC assets 
were partially offset by lower assets at SBNA due to balance sheet optimization 
 
 SHUSA as a holding company has $4.0BN cash on hand 
 SHUSA’s LCR4 at end of 3Q16 is in excess of regulatory requirement 
 SC has $36.8BN in committed funding, of which $31.9BN was in use at 3Q16 
  
 
 Common Equity Tier 1 (CET1) 14.1%; 13.4% under U.S. Basel III fully phased-in 
 CET1 increased by 1.7% from 2Q16, primarily due to the IHC consolidation 
   
 
 
 SBNA’s non-performing loans (“NPLs”) and criticized balances have steadily 
decreased since 1Q16, when they increased due to the energy finance portfolio 
 90 SC asset-backed securities (“ABS”) tranches totaling $7.1BN were upgraded 
by Moody’s, S&P, and Fitch during 3Q16 
 SC delinquencies increased YoY primarily due to 2015 vintage loans
 7 Significant Developments 
 IHC:  On July 1, 2016, SHUSA completed the formation of the IHC by assuming ownership 
of most U.S. entities formerly owned by Santander. The impact on SHUSA was: 
 
 
 
 
 
 SBNA Net Interest Margin (“NIM”) Improved from 2.19% at 4Q15 to 2.33% at 3Q16 
 Deposit repricing initiatives conducted in 2016 have reduced SBNA’s deposit cost by 8bps from 
0.47% in 4Q15 to 0.39% in 3Q16 
 Through 3Q16 SBNA has terminated $3.1BN of legacy Federal Home Loan Bank (“FHLB”) 
borrowings which had a weighted average rate of 3.93%  
 Moody’s downgrade:  On October 18, 2016, Moody’s downgraded SHUSA’s long-term 
debt rating from Baa2 to Baa3 and changed SHUSA’s outlook from negative to stable.  
SBNA’s ratings were not affected. 
 Delayed Financial Statement Filings:  See next slide for more information on the 
delayed financial filings by SHUSA and SC 
IHC Entity Impact BSI  Puerto Rico SIS Other1 Total 
Total Assets $7.2BN $5.3BN $1.4BN $0.2BN $14.1BN 
Cash $3.6BN $1.0BN $1.0BN $5.6BN 
Loans $3.4BN $4.0BN $7.4BN 
Deposits $5.5BN $4.2BN $9.7BN 
Equity $1.0BN $1.0BN $0.2BN $0.1BN $2.3BN 
1Includes  other small entities that were consolidated such as Santander Securities LLC
 8 Delayed Financial Filings 
 In August 2016, SHUSA and SC disclosed1 that their 2Q16 Forms 10-Q would be delayed 
as SC was working with its current and former independent registered public accountants 
as well as the SEC to address certain accounting matters 
 The accounting matters primarily related to SC’s discount accretion and credit loss allowance 
methodologies, and the related control considerations  
 On September 23, 2016, SC and SHUSA disclosed2 that they would be restating financial 
disclosures for the full years 2013, 2014 and 2015, and 1Q16 
 Restatements would address the accounting matters cited in the August 2016 notices 
 SC provided preliminary restated results which showed no material impact from the restatements.  
SC also provided preliminary 2Q16 results 
 On October 27, 2016, SC published final restated results and 2Q16 Form 10-Q3 
 Both the restated results and the 2Q16 Form 10-Q had immaterial changes to the preliminary 
results provided on 9/23/16 
 On November 9, 2016 SC filed its 3Q16 Form 10-Q in a timely fashion 
 On December 7, 2016 SHUSA filed its restated results and the Form 10-Q for 2Q16.  
 On December 12, 2016 SHUSA filed the Form 10-Q for 3Q16 
 
1SC Form 8-K filed 8/16/16 and SHUSA  Form  8-K  filed 8/23/16 
2SC Form 8-K and SHUSA Form 8-K filed 9/23/16 
3SC Form 8-K filed 10/27/16
 9 Quarterly Profitability1  
1Periods prior to 3Q16 have not been re-casted for the IHC consolidation 
2 Net Income includes noncontrolling interest 
 3Q16 results reflect addition of IHC entities 
 4Q15 results reflect $4.5BN (pre-tax) goodwill impairment charge 
Pre-Tax Pre-Provision Income/(Loss) ($MM)
 Net Income/(Loss) ($MM)2
 Net Interest Income ($MM)
 Pre-Tax Income/(Loss) ($MM)
 *3Q15 - excludes $96MM tax provision
 1,264
 (3,647)
 1,032 985 1,022 
-3,500
 -2,500
 -1,500
 -500
 500
 1,500
 3Q15 4Q15 1Q16 2Q16 3Q16
 1,633 1,605 1,616 1,586 1,621
 6.33%
 6.12% 6.16%
 6.06%
 5.87%
 0
 500
 1,000
 1,500
 2,000
 3Q15 4Q15 1Q16 2Q16 3Q16
 NII Net Interest Margin
 327 
(4,704)
 150 
388 334 
 (500)
  (350)
  (200)
  (50)
  100
  250
  400
 3Q15 4Q15 1Q16 2Q16 3Q16
 126 
(3,665)
 85
 253 226 222*
  (500)
  (375)
  (250)
  (125)
  -
  125
  250
 3Q15 4Q15 1Q16 2Q16 3Q16
 10 
2 
18% 
11% 
4% 
7% 
8% 
8% 15% 
5% 
5% 
3% 
16% 
Balance Sheet Overview (September 30, 2016) 
9% 
6% 
4% 
5% 
4% 7% 
6% 
19% 
13% 7% 
18% 
Investments 
Auto Loans 
2% 
Cash 
Non Interest-
 Bearing 
Demand 
Deposits 
Other Assets 
C&I  
CRE Residential 
Mortgage 
Other  
Loans 
Operating 
Lease Assets 
 
Goodwill 
Home 
Equity 
Multi-Family 
$139.2BN Assets 
$116.8BN Liabilities 
$22.4BN Equity 
Interest-
 Bearing 
Demand 
Deposits 
Secured 
Structured 
Financings 
Equity 
Other 
Liabilities 
FHLB 
Money 
Market 
Certificates 
of Deposit 
Savings 
Revolving 
Credit 
Facilities 
Other  
Borrowings 
 Cash and Non-interest bearing DDA increases reflect IHC consolidation 
 Reduction in investments and FHLB due to SBNA balance sheet optimization
 11 
2 
Balance Sheet Trends:  Overview1  
$131 $128 $131 $126 
$139 
ASSETS LIABILITIES & EQUITY 
$ in Billions 
Q316 balance sheet increase reflects the IHC consolidation in July 2016 
$131 $128 $131 
$126 
$139 
1Periods prior to 3Q16 have not been re-casted for the IHC consolidation
 12 
2 
2 
Balance Sheet Trends:  Loans and Leases1 
$90 $91 
$93 $93 
$100 
$ in Billions 
3Q16 growth of $7BN due to IHC consolidation 
1Periods prior to 3Q16 have not been re-casted for the IHC consolidation
 13 
2 
2 
Balance Sheet Trends:  Deposits1 
$56 $56 $57 $56 
$68 
$ in Billions 
3Q16 increase reflects $10BN from IHC consolidation as well as continued growth 
in deposits at SBNA 
1Periods prior to 3Q16 have not been re-casted for the IHC consolidation
 14 
2 
2 
$696  
$619  
$590  
$515  $497  $513  
$710  
$687  
$615  
3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 Non-Performing Loans1 Criticized Balances2 
Texas Ratio4  Annualized Net Charge off Ratio3 
0.25%0.23% 0.26%
 0.31%
 0.20%
 0.43%
 0.15%0.12%
 0.92%
 0.43%0.41%0.36%
 0.49%
 0.36% 0.35% 0.36%
 0.38%
 0.39%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 Santander Bank Large Banks**
 SBNA: Asset Quality 
$ MM
   
-12% 
NPLs and Criticized Balances continued to contract after the increase in 1Q16 
$ MM
   
Annualized NCO = Quarterly NCO*4 
**Source: SNL Bank level data; Large Bank = BAC, COF, C, KEY, BMO, HSBA, PNC, RBS, JPM, UNB, TD, USB, and WFC 
 
14.3% 13.7% 13.1%
 9.6%10.1% 9.3% 8.5% 7.9% 8.6%
 10.3%10.7%10.8%
 14.0%
 17.3% 16.2% 15.1% 14.5% 13.9%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 Santander Bank Large Banks**
 1NPLs = Nonaccruing loans plus accruing loans 90+ DPD;  
2Criticized = loans that are categorized as special mention, substandard, doubtful, or loss 
33Q14 reflects charge offs relating to  troubled debt restructuring (“TDR”)/NPL sale; excluding sale 3Q14 would have been 0.47%  
4See Appendix for definition and non-GAAP measurement reconciliation of Texas Ratio 
$2,054  
$1,980  $1,972  
$2,073  
$2,171  
$2,333  
$2,626  
$2,376  $2,337  
4.08% 3.92% 3.78% 3.95% 
4.09% 
4.35% 
4.81% 
4.36% 4.42% 
3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 Criticized Balances Criticized Ratio
 15 
2 
2 
84.0%
 90.6% 93.2%
 111.3%114.6%
 119.4%
 106.5%
 98.6% 100.2%
 106.0%
 120.0%118.6%120.6%115.3%113.2%110.6% 109.0% 110.4%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 Santander Bank Large Banks**
 Reserve Coverage (ALLL/NPL2) 
1.16% 1.18% 1.17%
 1.07%1.07%
 1.17%1.21%1.21% 1.16%
 1.29%1.26%1.28%1.31%1.34%
 1.36%1.39% 1.27% 1.26%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 Santander Bank Large Banks**
 ALLL to Total Loans 
NPL Ratio Delinquency1 
1.16%1.22% 1.13% 0.98%0.94% 0.96%
 1.26%
 1.30%1.38% 1.22%1.26%
 1.36%
 1.29% 1.25% 1.18% 1.17% 1.14%
 1.28%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 Santander Bank Large Banks**
 0.54%
 0.43% 0.37%0.40%
 0.47%0.42%0.46%
 0.56%
 0.39%
 0.76%
 0.86%0.83%0.79%0.86%
 0.95%0.96%
 0.75% 0.76%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q 6
 Santander Bank Large Banks**
 SBNA: Asset Quality (cont.) 
**Source: SNL Bank level data; Large Bank = BAC, COF, C, KEY, BMO, HSBA, PNC, RBS, JPM, UNB, TD, USB, and WFC 
 
1Delinquency = accruing loans 30-89 DPD plus accruing loans 90+ DPD  
2NPLs= Nonaccruing loans plus accruing loans 90+ DPD 
SBNA’s credit metrics continue to compare favorably to peers
 16 
2 
2 
SC: Asset Quality – Provisions and Reserves 
 
  
 
3,436
 177
 144 34 (125)
 (253)
 3,413
 3000
 3100
 3200
 3300
 3400
 3500
 3600
 3700
 3800
 3900
 Q2 2016 New
 Volume
 TDR
 Migration
 Performance
 Adjustment
 Qualitative
 Reserve
 Liquidations
 & Other
 Q3 2016
 Q2 2016 to Q3 2016 ALLL Reserve Walk
 ($ in millions)
 724
 851
 660
 512
 610
 11.1%
 11.9%
 12.0%
 12.6%
 12.4%
 10.0%
 10.5%
 11.0%
 11.5%
 12.0%
 12.5%
 13.0%
 0
 100
 200
 300
 400
 500
 600
 700
 800
 900
 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
 Provision Expense and Allowance Ratio
 ($ in mill ions)
 Provision for credit losses Allowance Ratio
  
 Allowance to loans ratio decreased to 12.4% QoQ 
 Provision for credit losses decreased YoY primarily 
driven by the recording of the provision for credit 
losses on the personal loan portfolio in prior year 
 Excluding the impact of personal loans, 
provision for credit losses decreased $8 million 
YoY 
 
 
 
 QoQ allowance decreased $23 million 
 Liquidations and removal of qualitative adjustment 
partly offset by new volume and TDR migration 
 
1 TDR Migration – additional allowance coverage required for loans now classified as TDRs
 17 
8.1%
 9.1%
 6.9%
 9.0% 9.2%
 3.8%
 4.4%
 3.1%
 4.2%
 4.6%
 0.0%
 2.0%
 4.0%
 6.0%
 8.0%
 10.0%
 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
 Delinquency: Individually Acquired Retail Installment Contracts, 
Held for Investment
 31-60
 61+
 2 
SC: Credit Quality – Loss and Delinquency 
 
  
 
15.4%
 16.6% 16.3%
 14.2%
 17.2%
 8.2%
 8.9%
 7.6%
 5.7%
 8.7%
 47%
 47%
 53% 60%
 49%
 0%
 10%
 20%
 30%
 40%
 50%
 60%
 70%
 0.0%
 2.0%
 4.0%
 6.0%
 8.0%
 10.0%
 12.0%
 14.0%
 16.0%
 18.0%
 20.0%
 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
 Credit: Individually Acquired Retail Installment Contracts,
 Held for Investment 
Gross Charge-
 off Ratio
 Net Charge-off
 Ratio
 Recovery Rate
 (as % of
 recorded
 investment)
  
 YoY delinquency increased for each 
delinquency bucket 
 Primary drivers: 
 2015 originations more nonprime in 
nature 
 Slower portfolio growth 
 
 
 
 YoY gross loss increased 180 basis points 
 Primary drivers: 
 2015 originations more nonprime in nature 
 Slower portfolio growth 
 Recovery rates and net losses in Q2 2016 
benefited by proceeds from bankruptcy sales1  
 
 
 
1 Excluding bankruptcy sales, recovery rates would have been 59%
 18 
2 
 
  
 
2017 2018 2019 2020 ... 2025 ... ... 2036 Perp
 Wholesale Funding Profile1 
Trust 
Pref 
$150 
Sr 
Debt 
 
4.625% 
Sr 
Debt 
 
3.0% 
Sr 
Debt 
 
3.45% 
20 6 2017 2018 2019 Perp
 4.8 2.4 
10.8 
8.3 
8.8 
8.8 
12.4 
12.4 
Utilized 
$31.9 
SC ($BN) 
Public Sec 
Committed 
FHLB 
Bank Debt 
HoldCo Debt 
3rd Party Rev 
Santander2 
Trust 
Pref 
Pref 
Stock 
Sr 
Debt 
 
4.6% 
Sr 
Debt 
 
3M+ 
145 
REIT 
Pref 
12.2% 
FHLB 
 
0.6% 
FHLB 
0.7% 
FHLB 
0.8% $0.18 
$2.7 
$0.2 
$4.2 
Public Sec 
$36.8 
$0.6 
$0.5 
$0.22 $0.2 
1As of September 30, 2016 
2$0.3BN difference in Santander balance between SHUSA and SC charts reflects 
$0.3BN facility between SHUSA and SC that is eliminated at the consolidated level 
$46.8 
$44.4 
$1.0 
Sr 
Debt 
 
2.65% 
FHLB 
1.7% 
Private Amort. 
SBNA ($BN, % yield) 
SHUSA HOLDCO ($BN, % yield) SHUSA ($BN)  
$1.1 
Sr 
Debt 
 
4.5% 
Debt 
4.2% 
$0.6 
Private Amort. 
3rd Party Rev 
Santander2 
Holding company funding will be driven by total loss-absorbing capacity (“TLAC”) and 
liquidity risk management 
$1.0 
Sr 
Debt 
 
2.7% 
FHLB
 19 
2 
2 
FRB Final TLAC Rule 
 The Federal Reserve Board (“FRB”) published its final rule for TLAC on December 15, 20161 
 The FRB TLAC rule will require SHUSA to meet the following: 
 TLAC requirement of 20.5% of risk-weighted assets (“RWA”) by January 1, 2019  
 Long term debt (“LTD”) requirement of 6.0%2 of RWA by January 1, 2019 
• SHUSA, as an IHC under a multiple point of entry (“MPOE”) resolution strategy, can meet the LTD 
requirement by issuing debt both externally and internally3   
 The final rule grandfathers debt issued prior to 12/31/2016 to qualify for LTD and TLAC 
1The original FRB TLAC proposal was published on October 30, 2015 
2The original FRB TLAC proposal required 7% of RWA for LTD 
3TLAC proposal required that IHCs such as SHUSA could only issue debt internally to meet TLAC 
Illustration
 20 
2 
2 
1Capital ratios calculated under the U.S. Basel III framework on a transitional basis 
2Periods prior to 3Q16 have not been re-casted for the IHC consolidation 
3Fully phased-in under the standardized approach - see SHUSA 3Q16 Form 10-Q 
 Increase in capital ratios from 2Q16 to 3Q16 primarily due to IHC consolidation 
 Under fully phased-in US Basel III rule,3 CET1 ratio as of 3Q16 was 13.4%  
 
Capital Ratios1,2 
Tier 1 Leverage
 Tier 1 risk based
 Common Equity Tier 1
 Total Risk Based
 12.1% 12.0% 11.9%
 12.4%
 14.1%
 3Q15 4Q15 1Q16 2Q16 3Q16
 11.9%
 11.6% 11.5% 11.6%
 12.5%
 3Q15 4Q15 1Q16 2Q16 3Q16
 13.4% 13.5% 13.4%
 14.0%
 15.7%
 3Q15 4Q15 1Q16 2Q16 3Q16
 15.3% 15.3% 15.3%
 15.8%
 17.6%
 3Q15 4Q15 1Q16 2Q16 3Q16
 21 
2 
2 
SHUSA’s capital ratios remain at the top of peers 
Capital Ratios Peer Comparison (as of 9/30/16) 
CET1 Tier 1 Risk-Based Capital (“RBC”) 
Total RBC Tier 1 Leverage 
- - - - Peer Median
 22 
2 
2 
Rating Agencies 
  Santander Bank 
Te S&P Moody’s 
Short Term 
Deposits 
A-2 P-1 
Senior Debt BBB+ Baa2 
Outlook Stable Stable 
SHUSA 
S&P Moody’s 
N/A N/A 
BBB+ Baa3 
Stable Stable 
 On August 5, 2016, S&P affirmed SHUSA’s and SBNA’s  ratings of                  
A-2/BBB+/stable 
 
    
 On October 18, 2016, Moody’s downgraded SHUSA’s senior debt rating by 1 
notch from Baa2 to Baa3 and moved SHUSA’s outlook from negative to stable 
 On October 18, 2016, Moody’s affirmed SBNA’s ratings at P-1/Baa2 and the 
outlook at stable 
October  30, 2016 
Banco Santander 
S&P Moody’s 
A-2 P-2 
A- A3 
Stable Stable
 Appendix
 24 
2 
2 
Santander U.S. Web site 
SantanderUS.com  
At-a-Glance 
 
• Up-to-date key Santander US 
information in one institutional 
website 
• 6 sections: 
• About Us 
• Structure and 
governance 
• Board of Directors 
• Management 
• Financial Services 
• Investor and Shareholder 
Relations (includes link to SEC 
filings and fixed-income investor 
presentations) 
• Media Relations 
• Communities 
• Careers 
• Links to U.S. business units 
 
WWW.SANTANDERUS.COM
 25 
2 
2 
Consolidating Balance Sheet 
(US $ millions)  Bank SC Other
 (1)
 IHC Entities
 (2)
 SHUSA
 Assets
 Cash and cash equivalents 6,934$              76$                    (28)                     4,848                 11,830$            
Investments 16,599              -                         1                        792                    17,392              
Loans 52,934              29,841              (488)                   7,617                 89,904              
Less allowance for loan losses (616)                   (3,582)               476                    (92)                     (3,814)               
        Total loans, net 52,318              26,259              (12)                     7,525                 86,090              
Goodwill 3,403                 74                      967                    11                      4,455                 
Other assets 5,603                 12,363              641                    857                    19,464              
Total assets 84,857$            38,772$            1,569$              14,033$            139,231$          
Liabilities and Stockholders' Equity
 Deposits 61,724$            -                         (4,071)               10,051              67,704$            
Borrowings and other debt obligations 8,404                 31,800              4,126                 274                    44,604              
Other liabilities 1,119                 1,854                 65                      1,422                 4,460                 
       Total liabilities 71,247              33,654              120                    11,747              116,768            
Stock olders' equity including  
   noncontrolling interest 13,610              5,118                 1,449                 2,286                 22,463              
Total liabilities and stockholders' equity 84,857$            38,772$            1,569$              14,033$            139,231$          
September 30, 2016
 (1) Includes holding company, eliminations, IHC eliminations and purchase accounting marks related to SC consolidation 
(2)The IHC entities are presented within "other" in the company's financial statement segment presentation due to immateriality
 26 Consolidating Income Statement 
(US $ Millions)  Bank SC Other
 (1)
 IHC Entities
 (3)
 Interest income 541$              1,302$          40$                88                  1,971$          
Interest expense (108)               (207)              (27)                 (8)                   (350)              
Net interest income 433                1,095            13                  80                  1,621            
Fees & other income/(expense) 248                389               (27)                 118                728                
Other non interest income -                 -                -                 -                 -                 
Net revenue 681                1,484            (14)                 198                2,349            
G & A expense (539)               (566)              (39)                 (137)               (1,281)           
Other expenses (28)                 (4)                   (9)                   (5)                   (46)                 
Provision for credit losses 12                  (610)              (74)                 (16)                 (688)              
Income/(loss) before taxes 126                304               (136)               40                  334                
Income tax (expense)/benefit (31)                 (90)                30                  (17)                 (108)              
Net income/(loss)
 2
 95$                214$             (106)$             23$                226$             
For the three-month period ended September 30, 2016
 SHUSA
 (1)Includes holding company activities, IHC eliminations, eliminations and purchase accounting marks related to SC consolidation. 
(2) SHUSA net income includes non-controlling interest.  
(3)The IHC entities are presented within "other" in the company's financial statement segment presentation due to immateriality
 27 
2 
2 
Quarterly Trended Statement of Operations1 
1Periods prior to 3Q16 have not been re-casted for the IHC consolidation 
2Represents net income/(loss) including noncontrolling interest  
(US $ Millions) 3Q15
 1 4Q151 1Q161 2Q161 3Q16
 Interest income 1,933$ 1,933$   1,970$  1,942$  1,971$   
Interest expense (300)     (328)       (354)       (356)      (350)       
Net interest income 1,633   1,605     1,616     1,586    1,621     
Fees & other income 719      518         575        585        728        
Equity investment income/(expense) 2          (3)            (4)           (1)           -         
Other non interest income/(loss) (2)         -          26          31          -         
Net revenue 2,352   2,120     2,213     2,201    2,349     
G&A expense (1,058)  (1,227)    (1,109)   (1,144)   (1,281)    
Other expenses (30)       (4,540)    (72)         (72)         (46)         
Provision for credit losses (937)     (1,057)    (882)       (597)      (688)       
Income/(loss) before taxes 327      (4,704)    150        388        334        
Income tax (expense)/benefit (201)     1,039     (65)         (135)      (108)       
Net income/(loss)(1) 126$    (3,665)$  85$        253$     226$      
3Q151 4Q151 1Q161 2Q161 3Q16
 Net interest margin 6.33% 6.12% 6.16% 6.06% 5.87%
 28 
(US $ millions)
 Average Yield/ Average Yield/ Average Yield/
 Balance Rate Balance Rate Balance Rate
 Deposits and investments 23,417$      1.39% (1,202)$       -0.26% 24,619$             1.65%
 Loans 90,200        8.33% 494            -0.15% 89,706               8.48%
 Allowance for loan losses (3,784)         --- (764)           --- (3,020)                ---
 Intercompany Investment 15              6.14% -             --- 15                     6.02%
 Earning assets 109,848      7.14% (1,472)         -0.06% 111,320             7.20%
 Other assets 29,935        --- (2,760)         --- 32,695               ---
 TOTAL ASSETS 139,783$    5.61% (4,232)$       0.04% 144,015$           5.57%
 Interest-bearing demand deposits 10,978        0.23% (2,066)         -0.24% 13,044               0.47%
 Noninterest-bearing demand deposits 15,107        --- 2,236          --- 12,871               ---
 Savings 6,002          0.22% (430)           0.04% 6,432                 0.18%
 Money market 25,199        0.50% 1,681          -0.05% 23,518               0.55%
 Certificates of deposit 9,515          0.97% 97              0.06% 9,418                 0.91%
 Borrowed funds 45,948        2.47% (2,544)         0.55% 48,492               1.92%
 Other liabilities 4,615          --- (23)             --- 4,638                 ---
 Equity 22,419        --- (3,183)         --- 25,602               ---
 TOTAL LIABILITIES & SE 139,783$    1.00% (4,232)$       0.15% 144,015$           0.85%
 NET INTEREST MARGIN 5.87% -0.23% 6.10%
 3Q16 Change 3Q15
 2 
2 
Average Balance Sheet 
Quarterly Averages
 29 
2 
2 
2016 CCAR Results  
 Capital 
4Q15 
 Starting 
Ratio 
SHUSA1 
Federal 
Reserve2 
Regulatory 
Minimum 
Severely Adverse Scenario 
Stressed Capital Ratios 
Minimum 
CET1 ratio (%) 12.0% 10.6% 11.8% 4.5% 
Tier 1 RBC ratio (%) 13.5% 11.8% 12.7% 6.0% 
Total RBC ratio (%) 15.3% 13.3% 14.3% 8.0% 
Tier 1 leverage ratio (%) 11.6% 9.2% 10.0% 4.0% 
1Results calculated by SHUSA.  SHUSA published its DFAST results via Form 8-K on 6/27/16 
2DFAST Results calculated by the Federal  Reserve  and published on 6/24/16 
 SHUSA’s projected capital ratios, as calculated by both the Federal Reserve 
and SHUSA, remain very strong and well above regulatory requirements 
 The Federal Reserve, while noting progress has been made by SHUSA since 
the 2015 CCAR exercise, objected to SHUSA’s 2016 CCAR capital plan on 
qualitative criteria 
DFAST = Dodd Frank Act Stress Testing 
CCAR = Comprehensive Capital Analysis and Review
 30 
2 
2 
2016 DFAST/CCAR Results – Projected Loan Losses 
 Loan Category 
 
SHUSA1 
 
Federal Reserve2 
     Total Losses – Severely Adverse  12.4% 8.2% 
First Lien Mortgage 5.7% 3.8% 
Junior Liens & HELOCs 3.4% 3.8% 
Commercial and Industrial 2.9% 3.9% 
Commercial Real Estate 2.3% 5.2% 
Credit Cards 19.9% 15.6% 
Other Consumer 34.0% 16.5% 
Other Loans 1.1% 4.2% 
SHUSA’s projected loss rates for the DFAST/CCAR exercise were more 
conservative than the Federal Reserve’s calculations 
1Results calculated by SHUSA.  SHUSA published its DFAST results via Form 8-K on 6/27/16 
2Results calculated by the Federal  Reserve  and published on 6/24/16 
DFAST = Dodd Frank Act Stress Testing 
CCAR = Comprehensive Capital Analysis and Review
 31 
2 
2 
SBNA: Quarterly Profitability 
US $ Millions 
1See non-GAAP to GAAP reconciliation of Pre-Tax Pre-Provision Income 
NIM improvement due to balance sheet management actions and deposit rate 
reductions 
*3Q15 - excludes $96MM tax provision
 Net Interest Income ($MM) Pre-Tax Pre-Provision Income1 ($MM)
 Pre-Tax Income/(Loss) ($MM) Net Income/(Loss) ($MM)
 117 
81 
100 104 
114 
0
 20
 40
 60
 80
 100
 120
 140
 3Q15 4Q15 1Q16 2Q16 3Q16
 419 424 434 438 433 
2.22% 2.19% 2.22%
 2.24%
 2.33%
 0
 100
 200
 300
 400
 500
 3Q15 4Q15 1Q16 2Q16 3Q16
 NII Net Interest Margin
 136 
11 
(20)
 104 
126 
-25
 0
 25
 50
 75
 100
 125
 150
 3Q15 4Q15 1Q16 2Q16 3Q16
 109* 
12 
(17)
 93 91 
13
 -20
 5
 30
 55
 80
 105
 3Q15 4Q15 1Q16 2Q16 3Q16
 32 
2 
2 
SBNA: Quarterly Trended Statement of Operations 
(US$ in Millions) 3Q15 4Q15 1Q16 2Q16 3Q16
 Interest income 554$   564$   576$   565$   541$     
Interest expense (135)    (140)    (142)    (127)    (108)      
Net interest income 419     424     434     438     433       
Fees & other income 261     276     227     240     248       
Other non-interest (loss)/income (1)         -      26        31        -        
Net revenue 679     700     687     709     681       
General & administrative expenses (544)    (603)    (537)    (540)    (539)      
Other expenses (18)      (16)      (50)      (65)      (28)        
Release of/(Provision for) credit losses 19        (70)      (120)    -      12         
Income/(loss) before taxes 136     11        (20)      104     126       
Income tax (expense)/benefit (123)    1          3          (11)      (35)        
Net income/(loss) 13$     12$     (17)$    93$     91$       
3Q15 4Q15 1Q16 2Q16 3Q16
 Net interest margin 2.22% 2.19% 2.22% 2.24% 2.33%
 33 
2 
2 
SBNA: Quarterly Average Balance Sheet 
Quarterly Averages 
(In millions)
 Average Yield/ Average Yield/ Average Yield/ Average Yield/
 Balance Rate Balance Rate Balance Rate Balance Rate
 Deposits and investments 22,018$   1.32% 25,301$    1.51% (3,283)$    -0.19% 24,058$      1.68%
 Loans 53,530     3.51% 54,560     3.49% (1,030)      0.02% 52,859        3.46%
 Allowance for loan losses (633)         --- (645)         --- 12            --- (615)           ---
 Other assets 10,597     --- 10,873     --- (276)         --- 11,287        ---
 TOTAL ASSETS 85,512$   2.54% 90,089$    2.54% (4,577)$    0.00% 87,589$      2.55%
 Interest-bearing demand deposits 9,780       0.24% 10,972     0.52% (1,192)      -0.28% 11,523        0.49%
 Noninterest-bearing demand deposits 11,439     --- 11,481     --- (42)           --- 11,408        ---
 Savings 4,099       0.12% 4,137       0.08% (38)           0.04% 3,969         0.12%
 Money market 26,977     0.48% 26,493     0.49% 484          -0.01% 24,147        0.55%
 Certificates of deposit 8,357       0.91% 8,777       0.93% (420)         -0.02% 7,905         0.87%
 Borrowed funds 9,438       2.06% 12,757     1.85% (3,319)      0.21% 13,520        2.05%
 Other liabilities 1,791       --- 1,933       --- (142)         --- 1,643         ---
 Equity 13,631     --- 13,539     --- 92            --- 13,474        ---
 TOTAL LIABILITIES & SE 85,512$   0.50% 90,089$    0.56% (4,577)$    -0.06% 87,589$      0.62%
 NET INTEREST MARGIN 2.33% 2.24% 0.09% 2.22%
 3Q16 3Q152Q16 Change
 34 
2 
2 
SBNA: Funding – Deposits* 
1Represents average quarterly balances 
*SBNA total deposits less the SHUSA cash deposit held at SBNA   
Average Non Maturity Deposit Balances
 1 
($Mn)
 $47,168 $47,604 $47,624 $48,282
 $48,757
 0.40% 0.40% 0.41%
 0.39%
 0.31%
 0.20%
 0.25%
 0.30%
 0.35%
 0.40%
 0.45%
 0.50%
 3Q15 4Q15 1Q16 2Q16 3Q16
 Non Maturity Deposit Balances
 Avg. Interest Cost
 Average Total Deposit Balances
 1 
($Mn)
 $55,073 $55,756
 $56,638 $57,059 $57,114
 0.48%
 0.46%
 0.48%
 0.47%
 0.39%
 0.30%
 0.35%
 0.39%
 0.44%
 0.48%
 0.53%
 3Q15 4Q15 1Q16 2Q16 3Q16
 Total Deposits Avg. Interest Cost
 35 
2 
2 
Global Corporate Banking2 
1Commercial Banking = Non-CRE total for Business Banking, Middle Market, Equipment Finance & Leasing and Commercial Banking NCE  
2Global Corporate Banking  =  Non-CRE total for MRG and Large Corporate  
3Other Commercial =  Non –CRE total for all other Commercial Business segments 
4Other Consumer =  Direct Consumer, Indirect Consumer, RV/Marine, Credit Cards, SFC, & RDM Run-off 
Commercial Banking1 
Other Consumer4 Other Commercial3 
Outstandings NPL* to Total Loans Net Charge-Offs** 
SBNA: Asset Quality  
*NPL = Nonaccruing loans plus accruing loans 90+ DPD 
**NCO = Rolling 12-month average for that quarter and the prior 3 quarters US $ Billions 
$5.4 $5.4 $5.5 $5.5 $5.7
 $6.0 $6.2
 $6.5 $6.5
 1.3% 1.4%
 1.6%
 1.4%
 1.1% 1.1%
 1.5% 1.6% 1.4%
 0.4% 0.3% 0.5% 0.4% 0.4% 0.5% 0.2% 0.1%
 0.4%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 $8.2 $8.3
 $9.5
 $10.1 $9.7 $10.0 $10.1 $9.4
 $8.4
 0.0% 0.0% 0.0% 0.0% 0.1%
 0.2%
 0.6% 0.7% 0.8%
 0.0% 0.0% 0.0% 0.0% 0.0%
 0.3%
 0.3% 0.3% 0.3%
 3Q 4 4Q14 1Q15 2Q15 3Q 5 4Q15 1Q16 2Q16 3Q16
 $5.5
 $6.4
 $ .8 $6.7 $6.8
 $7.1 $7.4
 $7.6 $7.6
 0.7%
 0.3%
 0.3% 0.3% 0.3% 0.4%
 1.9% 1.6
 1.2%
 0.4%
 0.4%
 0.3% 0.2% 0.2% 0.2% 0.2% 0.2% 0.2%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 $1.9 $1.9 $1.8 $1.7 $1.7 $1.7 $1.6 $1.6 $1.6
 2.1% 2.2% 2.2% 2.0% 2.0% 1.8% 1.7% 1.7% 1.8%
 2 7 2 6 2 6 2 5 2 6 2.7 2.5% 2.6% 2.7%
 3Q14 4Q14 Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 36 
2 
2 
Santander Real Estate Capital Commercial Real Estate1 
Home Equity Mortgages 
Outstandings NPL* to Total Loans Net Charge-Offs** 
SBNA: Asset Quality  
*NPL = Nonaccruing loans plus accruing loans 90+ DPD 
**NCO = Rolling 12-month average for that quarter and the prior 3 quarters 
1Commercial Real Estate is comprised of the  commercial real estate, continuing care retirement community and non-owner 
occupied real estate secured commercial loans (SREC segment included in separate graph) 
US $ Billions 
$7.5
 $7.0 $7.0 $6.8 $6.7 $6.5 $6.4 $6.6 $6.7
 3.3% 3.3% 3.0% 2.9% 2.8% 2.7% 2.6% 2.4% 2.2%
 1.2% 1.2% 1.3% 1.3%
 0.3% 0.2% 0.2% 0.2% 0.1%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 $6.0 $6.0 $6.0 $6.0 $6.0 $6.0 $5.9 $5.9 $5.9
 1.9% 1.9% 1.9% 1.8% 1.7% 1.8% 1.8% 1.7% 1.7%
 0.4% 0.4% 0.3% 0.3% 0.3% 0.3% 0.3% 0.2% 0.2%
 3Q 4 4Q14 Q15 2Q15 3Q 5 4Q15 Q16 2Q16 3Q16
 $5.4 $5.6 $5.8
 $5.9 $5.8 $6.0
 $6.6 $6.6 $6.5
 3.2%
 2.2% 1.9%
 1.3% 1.3% 1.3% 1.7% 1.6% 1.2%
 0.7% 0.5% 0.2% 0.4% 0.1% 0.2% 0.2% 0.0% -0.1%
 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
 $10.3 $10.0 $9.7 $9.7
 $10.7 $10.5 $10.3 $10.1 $9.8
 0.2% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%
 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
 3Q 4 4Q14 1Q15 2Q15 3Q 5 4Q15 1Q16 2Q16 3Q16
 37 
2 
2 
SBNA: Capital Ratios 
1Fully phased-in under the standardized approach - see SHUSA 3016 Form 10-Q 
13.9% 13.8% 13.9%
 14.9%
 15.7%
 3Q15 4Q15 1Q16 2Q16 3Q16
 13.9% 13.8% 13.9%
 14.9%
 15.7%
 3Q15 4Q15 1Q16 2Q16 3Q16
 11.7% 11.5% 11.3% 11.4%
 12.3%
 3Q15 4Q15 1Q16 2Q16 3Q16
 15.1% 15.1% 15.4%
 16.2%
 17.0%
 3Q15 4Q15 1Q16 2Q16 3Q16
 CET1 Tier 1 Leverage Ratio
 Tier 1 RBC Ratio Total RBC Ratio
  Beginning in 1Q15, capital ratios have been calculated under the U.S. Basel III 
framework on a transition basis 
 Under fully phased-in US Basel III rule1, CET1 ratio as of 3Q16 was 15.3%
 38 
2 
2 
SC: Serviced For Others (“SFO”) Platform 
$14,788 $15,047 
$14,235 
$13,034 
$12,157 
3Q15 4Q15 1Q16 2Q16 3Q16
 $ in Millions
 Flow Programs 1,348 1,081 860 659 794 
CCART 788 
Residual Sales 1,710 
 
 Recent decrease in total balance 
related to lower prime 
originations 
 
 Growth in SFO remains 
dependent upon Chrysler Capital 
Penetration 
 
 Finalizing a strategic agreement 
with Santander1  
 Beneficial to SFO platform 
Composition at 9/30/2016 
RIC 75 % 
Leases 19 % 
RV/Marine 7 % 
Total 100 % 
SFO Balances 
 Flow programs continue to drive 
asset sales 
 
 
*Sales with retained servicing during period 
 
 
1SC is finalizing a strategic agreement with Banco Santander to originate and flow prime and near-prime retail loan assets
 39 
2 
2 
SC: Credit Trends 
RICs1,2 
1RIC = Retail installment contract 
2Held for investment; excludes assets held for sale 
3.9
 % 12.
 2%
 23.
 8%
 30.
 4%
 17.
 1%
 12.
 6%
 4.0
 % 12.
 2%
 23.
 4%
 30.
 9%
 17.
 3%
 12.
 2%
 4.2
 % 12
 .6%
 23.
 2%
 31.
 0%
 17.
 1%
 11.
 9%
 2.6
 % 1
 2.6
 %
 22.
 9%
 31.
 2%
 17.
 4%
 13.
 3%
 3.3
 % 12
 .4%
 22.
 2%
 31.
 1%
 17.
 2%
 13.
 8%
 Commercial Unknown <540 540-599 600-639 >=640
 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016
 40 
2 
2 
Non-GAAP to GAAP Reconciliations1 $ Million 3Q15 4Q15 1Q16 2Q16 3Q16
 SHUSA Pre-Tax Pre-Provision Income/(Loss)
 Pre-tax income/(loss), as reported 327$            (4,704)$        150$            388$            334$            
Add back:
 Provision for credit losses 937              1,057           882              597              688              
Pre-Tax Pre-Provision Income/(Loss) 1,264$         (3,647)$        1,032$         985$            1,022$         
1Periods prior to 3Q16 have not been re-casted for the IHC consolidation
 41 
2 
2 
1 
1Periods prior to 3Q16 have not been re-casted for the IHC consolidation  
 2Basel III ratios on a transition basis under the standardized approach starting in 2Q15 
Non-GAAP to GAAP Reconciliations1,2 
 
 
$ Millions 3Q15 4Q15 1Q16 2Q16 3Q16
 CET1
 Tier 1 Common 13,199$       12,973$       12,644$       12,750$       15,153$       
Risk-Weighted Assets 109,173       108,455       106,446       106,446       107,310       
Ratio 12.1% 12.0% 11.9% 12.4% 14.1%
 Tier 1 Leverage
 Tier 1 Capital 14,678$       14,657$       14,281$       14,401$       16,866$       
123,129       126,636       123,964       124,498       135,155$    
Ratio 11.9% 11.6% 11.5% 11.6% 12.5%
 Tier 1 Risk-Based
 Tier 1 Capital 14,678$       14,657$       14,281$       14,401$       16,866$       
Risk-Weighted Assets 109,173       108,455       106,446       102,967       107,310$    
Ratio 13.4% 13.5% 13.4% 14.0% 15.7%
 Total Risk-Based
 Risk-Based Capital 16,711$       16,637$       16,288$       16,270$       18,834$       
Risk-Weighted Assets 109,173       108,455       106,446       102,967       107,310$    
Ratio 15.3% 15.4% 15.3% 15.8% 17.6%
 Average total assets for leverage capital
 42 
2 
2 
1 
SBNA: Non-GAAP to GAAP Reconciliations1 
$ Millions 3Q15 4Q15 1Q16 2Q16 3Q16
 CET1
 Tier 1 Common Capital 9,828$        9,858$        9,813$        9,876$        10,025$     
Risk Weighted Assets 70,894 71,395 70,512 66,357 64,015
 Ratio 13.9% 13.8% 13.9% 14.9% 15.7%
 Tier 1 Leverage
 Tier 1 Capital 9,828$        9,858$        9,813$        9,876$        10,025$     
84,040        86,028        87,066        86,358        81,815       
Ratio 11.7% 11.5% 11.3% 11.4% 12.3%
 Tier 1 Risk Based
 Tier 1 Capital 9,828$        9,858$        9,813$        9,876$        10,025$     
Risk Weighted Assets 70,894 71,395 70,512 66,357 64,015
 Ratio 13.9% 13.8% 13.9% 14.9% 15.7%
 Total Risk Based
 Risk Based Capital 10,734$      10,776$      10,827$      10,771$      10,874$     
Risk Weighted Assets 70,894        71,395        70,512        66,357        64,015       
Ratio 15.1% 15.1% 15.4% 16.2% 17.0%
 Average total assets for leverage capital purposes
 1Basel III ratios on a transition basis under the  standardized approach starting in 2Q15
 43 SBNA: Non-GAAP to GAAP Reconciliations 
$ Millions 3Q15 4Q15 1Q16 2Q16 3Q16
 Santander Bank Texas Ratio
 Total Equity 13,416$      13,326$      13,456$      13,576$      13,610$     
Less:
 Goodwill and Other Intangibles (excluding MSRs) (3,717)         (3,732)         (3,723)         (3,716)         (3,681)        
Preferred Stock - - - - -
 Add:  Allowance for loan losses 570              572              643              640              616             
Total Equity and Loss Allowances for Texas Ratio 10,269$      10,166$      10,376$      10,500$      10,545$     
Nonperforming Assets 536$           550$           747$           748$            648$           
90+ DPD accruing 3 2 2 2 3
 Accruing TDRs 268 323 364 364 356
 Total Nonperforming Assets 807$           875$           1,113$        1,114$        1,007$       
Texas Ratio 7.9% 8.6% 10.7% 10.6% 9.5%
 44 
2 
2 
SBNA: Non-GAAP to GAAP Reconciliations 
$ Millions 3Q15 4Q15 1Q16 2Q16 3Q16
 Santander Bank Pre-Tax Pre-Provision Income
 Pre-tax income, as reported 136$           11$              (20)$            104$           126$           
Add back:
 Provision for credit losses (19)               70                120              -               (12)               
Pre-Tax Pre-Provision Income 117$           81$              100$           104$           114$