Banco Santander S.A. Information on Banco Santander Brazil (1937P)
June 04 2015 - 2:00AM
UK Regulatory
TIDMBNC
RNS Number : 1937P
Banco Santander S.A.
04 June 2015
MATERIAL FACT
Banco Santander, S.A. hereby informs that its subsidiary Banco
Santander (Brasil) S.A. has issued a material fact announcement in
Brazil, whose content, translated into English, is reproduced
hereafter. The effects on the Group of the content of such material
fact announcement are estimated to be a positive contribution in
the second quarter of 2015 of EUR 835 million to the attributable
profit and +20 basis points on the CET1 capital fully loaded.
"Banco Santander (Brasil) S.A. hereby informs the market,
following the information already published in its financial
statements, that the Federal Supreme Court, in its plenary session
held on May 28, 2015, has unanimously dismissed the Extraordinary
Appeal lodged by the Federal Prosecution Service in relation to
COFINS -Social Security Funding Contribution (Law no. 9.718/98)
which aimed to change a ruling favourable to Banco Santander
(Brasil) S.A. handed down by the Regional Federal Court.
In the light of this ruling by the Federal Supreme Court, Banco
Santander (Brasil) S.A. shall revert the provisions allocated to
cover legal contingencies for COFINS. The provisions are estimated
to be BRL 4.8 billion net of tax.
Banco Santander (Brasil) S.A. also states that it will allocate
complementary provisions of BRL 1.6 billion net of tax with the
purpose of strengthening its balance sheet.
The aforementioned accounting effects shall be included in the
financial statements as of June 30, 2015."
Boadilla del Monte (Madrid), June 4, 2015
This information is provided by RNS
The company news service from the London Stock Exchange
END
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