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Investor Update First Half 2013 Results

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Investor Update First Half 2013 Results Santander UK plc Investor Update First Half 2013 Results July 2013 United Kingdom Disclaimer 1 Santander UK plc (“Santander UK”) is a subsidiary of Banco Santander, S.A. (“Santander”). Santander UK and Santander both caution that this presentation may contain forward-looking statements. Such forward-looking statements are found in various places throughout this presentation. Words such as “believes”, “anticipates”, “expects”, “intends”, “aims” and “plans” and other similar expressions are intended to identify forward-looking statements, but they are not the exclusive means of identifying such statements. Forward-looking statements include, without limitation, statements concerning our future business development and economic performance. These forward-looking statements are based on management’s current expectations, estimates and projections and both Santander UK and Santander caution that these statements are not guarantees of future performance. We also caution readers that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. We have identified certain of these factors on pages 310 to 325 of the Santander UK Annual Report on Form 20-F for 2012. Investors and others should carefully consider the foregoing factors and other uncertainties and events. Undue reliance should not be placed on forward-looking statements when making decisions with rerespectspect to Santander UK, Santander and/and/oror their securities. The information in this presentation, including any forward -looking statements, speak only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. Statements as to historical performance, historical share price or financial accretion are not intended to mean that future performance, future share price or future earnings (including earnings per share) for any period will necessarily match or exceed those of any prior quarter. Nothing in this presentation should be construed as a profit forecast. No representation or warranty of any kind is made with respect to the accuracy, reliability or completeness of any information, opinion or forward-looking statement, any assumptions underlying them, the description of future operations or the amount of any future income or loss contained in this presentation or in any other written or oral information made or to be made availabl e t o any i nt erest ed part y or it s ad vi sers b y S ant and er UK or S ant and er’ ad vi sers, offi cers, emp loyees or agen ts. It does notttbhidhtbt purport to be comprehensive and has not been independently verified. Any prospective investor should conduct their own due diligence on the accuracy of the information contained in this presentation. This presentation does not constitute an offer to sell, or a solicitation of an offer to subscribe for, any securities, in any jurisdiction in which such offer or solicitation is unlawful, it does not constitute advice or a recommendation to buy, sell or otherwise deal in any securities of Santander UK or Santander or any other securities and should not be relied on for the purposes of an investment decision. This presentation has not been filed, reviewed or approved by any regulator, governmental regulatory body or securities exchange in any jurisdiction or territory. To the fullest extent permitted by law, neither Santander UK nor Santander accept any liability whatsoever for any direct or consequential loss arising from any use of or reliance on this presentation. By attending / reading the presentation you agree to be bound by these provisions. Source: San tan der UK Q2 2013 resu lts “Quar ter ly Managemen t Sta temen t for the year en de d 30 June 2013” or S ant and er UK M anagement (‘MI’) Santander has a standard listing of its ordinary shares on the London Stock Exchange and Santander UK continues to have its preference shares listed on the London Stock Exchange. Further information in relation to Santander UK can be found at: www.aboutsantander.co.uk. Neither the content of Santander UK’s website nor any website accessible by hyperlinks on Santander UK’s website is incorporated in, or forms part of, this presentation. Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. www.santander.co.uk. Telephone 0870 607 6000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, except in respect of its consumer credit products for which Santander UK plc is licensed and regulated by the Office of Fair Trading. Our Financial Services Register number is 106054. Santander UK plc is also licensed by the Financial Supervision Commission of the Isle of Man for its branch in the Isle of Man. Deposits held with the Isle of Man branch are covered by the Isle of Man Depositors’ Compensation Scheme as set out in the Isle of Man Depositors’ Compensation Scheme Regulations 2010. In the Isle of Man, Santander UK plc’s principal place of business is at 19/21 Prospect Hill, Douglas, Isle of Man, IM1 1ET. Santander and the flame logo are registered trademarks. Banco Santander, S.A., London Branch is regulated by the Financial Conduct Authority . United Kingdom Delivering on our commitments 2 2015 H1’ 13 2012 1 • Loyal customers1 4.0 million 2.5 million 2.2 million Loyal and satisfied customers • No. of 1|2|3 World customers 4.0 million 1.9 million 1.3 million • Customer satisfaction (FRS)2 Top 3 57% 55% • SME market share 2 ‘Bank of Choice’ for UK 8.0% 5.5% 5.3% • Business mix (Corporate companies 11% Banking loans percentage) 20% 10% 3 • Return on tangible book value 13% - 15% 8.3% 9.1% Consistent profitability • Cost to income ratio <50% 57% 53%3 and strong balance sheet • Core Tier 1 Capital ratio CET 1 >10 .5% 12.4% 12.2% • Loan to deposit ratio <130% 125% 129% 1 ‘Loyal customers’ are primary current account customers who hold a debit card and an additional product. Primary current account customers have a minimum credit turnover of at least £500 per month and two direct debits paid from their account. 2 Independent consumer surveys show improved satisfaction, with our FRS score rising to 57%. Santander UK saw a United Kingdom significant reduction in the gap to the top 3 performers over the last year at 90% confidence interval 3 Income for 2012 included a gain from the capital management exercise. The cost to income ratio for the year ended 31 December 2012 of 53% excludes this gain. Including this gain the cost to income ratio was 45% 3 Key UK market player Key Metrics Business Mix2 H1'13 H2'12 H1'12 Customer loan balances Employees 1 23, 801 23, 981 25, 006 Corporate Centre Retail Banking other 4% Branches (inc. agencies) 1,187 1,186 1,312 Corporate Business Centres 37 35 33 Corporate Relationship Managers 778 713 648 Banking Retail Banking mortgages £bn £bn £bn Residential Retail Mortgages 152.3 156.6 163.2 Corporate Banking Assets 21.0 19.6 19.0 ofhihSMEf which SME 10. 9 10. 6 979.7 Retail Banking Liabilities 126.7 127.2 124.3 Corporate Banking Liabilities 13.8 12.8 11.3 UK Banking profit before tax2 Corporate BkiBanking Market Share of Stock %3 H1'13 H2'12 H1'12 Residential Mortgages 12.6 13.0 13.6 DitDeposits 919.1 949.4 959.5 Bank Accounts 9.4 9.3 9.2 Retail 4 SME lending 5.5 5.3 4.9 Banking 1 On a Santander Group reporting basis 2 Customer loan balances at 30 June 2013. Profit before tax for the six months ended 30 June 2013 excludes Markets and Corporate Centre United Kingdom 3 Market share sources: Residential Mortgages, SME lending and Deposits (BOE); Bank Accounts (CACI) 4 SME lending market share includes assets held in Corporate Banking and Corporate Centre. SME assets totaled £12.3bn in Jun’13, £12.1bn in Dec’12, £11.3bn in Jun’12 4 Our strategic priorities 1 Loyal and satisfied customers 2 ‘Bank o f C ho ice ’ f or UK com pani es 3 Consistent profitability and strong balance sheet United Kingdom 5 1 1I2I3 World has 1.9m customers Customer numbers 1|2|3 World is transforming the customer profile … Non 1|2|3 1|2|3 World 791k 887k 248k 8% affluent 28% 46% 41% 13% 39% primary banking 83% 1.6 products per customer 2.9 Before 1|2|3 1|2|3 World Launch of 123 Current Account March 2012 8% fee paying Current Account 59% +78% from <4k staff Current Account 19k launch … and boosting customer perceptions1 +£9.3bn 96% satisfied with 1|2|3 Current Account 2011 2012 2013 91% satisfied with 1|2|3 Credit Card Source: Santander UK Marketing MI United Kingdom 1 Moneysavingexpert.com, Feb’13 6 1 High quality service at the core of our business model FRS1: Overall Satisfaction (%)2 Investing in service and delivering results . Independent consumer surveys show 53 impp,roved satisfaction, with our FRS score StdUKSantander UK 57 rising to 57%. Santander UK saw a significant reduction in the gap to the top 3 3 61 performers over the last year Top 3 average 62 . We are delivering on our ‘Simple, Personal and Fair’ commitments by simplifying product 8 Gap to Top 3 avg. portfolios across the bank, making it easier 5 for customers to bank with us Jun’12 Jun’13 .
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