Current Report no. 46 (2023)

Pillar 2 (P2G) add-on imposed by the Polish Financial Supervision Authority.

The Management Board of Santander Bank Polska S.A. ("Bank") hereby advises that on 14 December 2023 it received a letter from the Polish Financial Supervision Authority ("KNF") whereby the KNF recommends mitigating the risk of the Bank's operations by maintaining own funds to cover a capital add-on in order to absorb potential losses that may arise from stress conditions; the add-on should be maintained at 0.37 p.p. at the non-consolidated level and 0.37 p.p. at the consolidated level above the value of each own funds requirements referred to in Article 92 (1)(a-c) of Resolution no. 575/2013, increased by the additional own funds requirement referred to in Article 138 (2)(2) of the Banking Law Act and the combined buffer requirement referred to in Article 55 (4) of the Macroprudential Supervision Act. The add-on should consist in full of Common Equity Tier 1 capital.

Legal basis:
Article 17 (1) of Market Abuse Regulation - inside information.

11:03, 14 Dec 2023