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Investments in associates and joint ventures (Tables)
12 Months Ended
Dec. 31, 2018
Investments in associates and joint ventures (Tables) [Abstract]  
Jointly controlled and Significant Influence - Participation

a) Breakdown

 

 

 

 

 

 

 

 

Participation %

Jointly Controlled by Banco Santander

 

 

 

Activity

Country

2018

2017

 

2016

Banco RCI Brasil S.A.

 

 

 Bank

Brazil

39.89%

39.89%

 

39.89%

Norchem Participações e Consultoria S.A.(1)

 

 

 Other Activities

Brazil

50.00%

50.00%

 

50.00%

Cibrasec - Companhia Brasileira de Securitização (1) (3) (8) (14)

 

 

 Securitization

Brazil

9.72%

9.72%

 

9.72%

Estruturadora Brasileira de Projetos S.A. - EBP (1) (8) (10)

 

 

 Other Activities

Brazil

11.11%

11.11%

 

11.11%

Gestora de Inteligência de Crédito (4)(9)(11)

 

 

 Credit Bureau

Brazil

20.00%

20.00%

 

20.00%

Campo Grande Empreendimentos (15)

 

 Other Activities

Brazil

25.32%

25.32%

 

25.32%

Banco Hyundai Capital Brasil S.A. (formerly named BHJV Assessoria e Consultoria Empresarial Ltda.) (16)

 

 

 

 Bank

Brazil

50.00%

-

 

-

Santander Auto S.A. (17)

 

 

 Other Activities

Brazil

50.00%

-

 

-

Jointly Controlled by Santander Corretora de Seguros (current corporate name of Santander Participações S.A.)

 

 

 

 

 

 

 

 

Webmotors S.A. (6) (7)(11)

 

 Other Activities

Brazil

70.00%

70.00%

 

70.00%

Tecnologia Bancária S.A. - TECBAN (1)

 Other Activities

Brazil

19.81%

19.81%

 

19.81%

PSA Corretora de Seguros e Serviços Ltda. (5)(12)(13)

 Insurance Broker

Brazil

50.00%

50.00%

 

50.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Significant Influence of Banco Santander

 

 

 

 

 

 

 

 

 

Norchem Holding e Negócios S.A. (1)

 

Other Activities

Brazil

21.75%

21.75%

 

21.75%

Jointly controlled and Significant Influence - Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Investments

 

 

 

 

 

 

2018

2017

 

2016

Jointly Controlled by Banco Santander

 

 

 

 

 

613,366

495,264

 

578,761

Banco RCI Brasil S.A.

458,292

427,801

 

538,756

Norchem Participações e Consultoria S.A.

26,105

25,550

 

26,302

Cibrasec - Companhia Brasileira de Securitização

7,298

7,438

 

7,435

Estruturadora Brasileira de Projetos S.A. - EBP

3,690

4,707

 

6,268

Gestora de Inteligência de Crédito

59,098

29,513

 

-

Campo Grande Empreendimentos

255

255

 

-

Banco Hyundai Capital Brasil S.A. (former named   BHJV Assessoria e Consultoria Empresarial Ltda.)

 

 

 

 

51,073

-

 

-

Santander Auto S.A.

 

 

 

 

7,555

-

 

-

 

 

 

 

 

 

 

 

 

 

Jointly Controlled by Santander Corretora de Seguros (current corporate name of Santander Participações SA)

419,016

350,440

 

390,336

Webmotors S.A.

 

 

 

273,721

197,930

 

246,965

Tecnologia Bancária S.A. - TECBAN

 

 

 

144,090

151,019

 

142,713

PSA Corretora de Seguros e Serviços Ltda.

 

 

 

1,205

1,491

 

658

 

 

 

 

 

 

 

 

 

 

Significant Influence of Banco Santander

 

 

 

 

 

20,933

20,860

 

20,980

Norchem Holding e Negócios S.A.

 

 

 

20,933

20,860

 

20,980

Total

 

 

 

 

 

1,053,315

866,564

 

990,077

Jointly controlled and Significant Influence - Results of Investments

 

 

 

 

 

 

 

Results of Investments

 

 

 

 

 

 

1/01 to 12/31/2018

1/01 to 12/31/2017

 

1/01 to 12/31/2016

Jointly Controlled by Banco Santander

 

 

 

 

 

41,212

39,904

 

16,748

Banco RCI Brasil S.A.

 

46,244

44,384

 

14,175

Norchem Participações e Consultoria S.A.

 

 

 

1,120

1,333

 

2,637

Cibrasec - Companhia Brasileira de Securitização

 

193

389

 

366

Estruturadora Brasileira de Projetos S.A. - EBP

 

(1,017)

(1,560)

 

(430)

Gestora de Inteligência de Crédito

 

 

(6,466)

(4,642)

 

-

Banco Hyundai Capital Brasil S.A. (former named   BHJV Assessoria e Consultoria Empresarial Ltda.)

 

 

 

 

1,083

-

 

-

Santander Auto S.A.

 

 

 

 

55

-

 

-

 

 

 

 

 

 

 

 

 

 

Jointly Controlled by Santander Corretora de Seguros (current corporate name of Santander Participações SA)

 

24,161

30,430

 

29,538

Webmotors S.A.

 

 

30,626

21,290

 

23,019

Tecnologia Bancária S.A. - TECBAN

 

 

(6,929)

8,307

 

5,971

PSA Corretora de Seguros e Serviços Ltda.

 

 

 

464

833

 

548

 

 

 

 

 

 

 

 

 

 

Jointly Controlled by Getnet S.A.

-

-

 

(225)

 iZettle do Brasil Meios de Pagamento S.A.

 

 

 

-

-

 

(225)

 

 

 

 

 

 

 

 

 

 

Significant Influence of Banco Santander

 

585

1,217

 

1,476

Norchem Holding e Negócios S.A.

 

 

585

1,217

 

1,476

Total

 

 

 

 

 

65,958

71,551

 

47,537

Jointly controlled and Significant Influence - Total

 

 

 

 

 

 

 

 

 

2018

 

 

 

 

 

 

Total assets

Total liabilities

 

Total Income (11)

Jointly Controlled by Banco Santander

 

 

 

 

 

10,500,055

8,755,688

 

80,954

Banco RCI Brasil S.A.

 

9,849,508

8,679,715

 

115,928

Norchem Participações e Consultoria S.A.

 

 

 

79,633

27,423

 

2,240

Cibrasec - Companhia Brasileira de Securitização

 

80,300

3,893

 

1,989

Estruturadora Brasileira de Projetos S.A. - EBP

 

33,389

176

 

(9,151)

Gestora de Inteligência de Crédito

 

 

338,382

42,894

 

(32,328)

Banco Hyundai Capital Brasil S.A. (former named   BHJV Assessoria e Consultoria Empresarial Ltda.)

 

 

 

 

103,703

1,557

 

2,166

Santander Auto S.A.

 

 

 

 

15,140

30

 

110

 

 

 

 

 

 

 

 

 

 

Jointly Controlled by Santander Corretora de Seguros (current corporate name of Santander Participações SA)

 

2,463,262

1,573,082

 

9,703

Webmotors S.A.

 

 

221,313

60,905

 

43,751

Tecnologia Bancária S.A. - TECBAN

 

 

2,238,156

1,510,794

 

(34,976)

PSA Corretora de Seguros e Serviços Ltda.

 

 

 

3,793

1,383

 

928

 

 

 

 

 

 

 

 

 

 

Significant Influence of Banco Santander

 

123,959

27,714

 

2,690

Norchem Holding e Negócios S.A.

 

 

123,959

27,714

 

2,690

Total

 

 

 

 

 

13,087,276

10,356,484

 

93,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

 

 

 

 

 

Total assets

Total liabilities

 

Total Income (11)

Jointly Controlled by Banco Santander

 

 

 

 

 

9,432,738

8,043,604

 

43,866

Banco RCI Brasil S.A.

 

9,057,261

7,985,647

 

74,452

Norchem Participações e Consultoria S.A.

 

78,674

27,574

 

2,665

Cibrasec - Companhia Brasileira de Securitização

 

86,378

9,884

 

4,000

Estruturadora Brasileira de Projetos S.A. - EBP

 

42,627

264

 

(14,040)

Gestora de Inteligência de Crédito

 

 

 

167,798

20,235

 

(23,211)

 

 

 

 

 

 

 

 

 

 

Jointly Controlled by Santander Corretora de Seguros (current corporate name of Santander Participações SA)

 

1,967,989

1,077,782

 

74,861

Webmotors S.A.

 

 

490,458

50,413

 

31,264

Tecnologia Bancária S.A. - TECBAN

 

 

1,472,774

1,025,593

 

41,932

PSA Corretora de Seguros e Serviços Ltda.

 

 

 

4,757

1,776

 

1,665

 

 

 

 

 

 

 

 

 

 

Significant Influence of Banco Santander

 

 

 

 

 

122,176

26,267

 

5,597

Norchem Holding e Negócios S.A.

 

 

 

122,176

26,267

 

5,597

Total

 

 

 

 

 

11,522,903

9,147,653

 

124,324

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

 

 

 

 

 

Total assets

Total liabilities

 

Total Income (11)

Jointly Controlled by Banco Santander

 

 

 

 

 

8,831,611

7,318,656

 

89,544

Banco RCI Brasil S.A.

 

8,603,844

7,276,320

 

79,223

Norchem Participações e Consultoria S.A.

 

 

78,833

26,228

 

5,274

Cibrasec - Companhia Brasileira de Securitização

91,083

14,659

 

7,011

Estruturadora Brasileira de Projetos S.A. - EBP

57,851

1,449

 

(1,964)

 

 

 

 

 

 

 

 

 

 

Jointly Controlled by Santander Corretora de Seguros (current corporate name of Santander Participações SA)

 

1,459,826

943,028

 

58,595

Webmotors S.A.

 

 

145,499

35,231

 

29,934

Tecnologia Bancária S.A. - TECBAN

 

 

1,310,945

905,731

 

27,568

 PSA Corretora de Seguros e Serviços Ltda.

 

 

 

3,382

2,066

 

1,093

 

 

 

 

 

 

 

 

 

 

Significant Influence of Banco Santander

 

 

 

 

 

127,598

31,136

 

6,792

Norchem Holding e Negócios S.A.

 

 

 

127,598

31,136

 

6,792

Total

 

 

 

 

 

10,419,035

8,292,820

 

154,931

 

b) Changes

Jointly controlled and Significant Influence - Changes in the balance

The changes in the balance of this item were as follows:

 

 

 

 

 

 

 

2018

2017

 

2016

Jointly Controlled by Banco Santander

 

 

 

 

 

 

 

 

 

Balance at beginning of year

 

 

 

845,704

969,097

 

1,041,239

Additions / disposals (net) due to change in the scope of consolidation

 

 

-

-

 

(2,926)

Additions /disposals (2) (5)

 

 

 

 

 

119,557

34,154

 

3,105

Capital reduction (6)

 

 

 

 

 

36,051

-

 

(76,860)

Share of results of entities accounted for using the equity method

65,373

70,334

 

46,061

Dividends proposed/received

 

 

 

 

 

(35,351)

(200,620)

 

(39,424)

Others

 

 

 

 

 

1,048

(27,261)

 

(2,098)

Balance at end of year

 

 

 

 

 

1,032,382

845,704

 

969,097

 

 

 

 

 

 

 

 

 

 

Significant Influence of Banco Santander

 

 

 

 

 

 

 

 

 

Balance at beginning of year

 

 

 

 

 

20,860

20,980

 

19,504

Share of results of entities accounted for using the equity method

 

 

585

1,217

 

1,476

Dividends proposed/received

 

 

 

 

 

(512)

(1,337)

 

-

Balance at end of year

 

 

 

 

 

20,933

20,860

 

20,980

(1) Companies with a delay of one month for the equity calculation. To register the equity income it was used on 12/31/2018 the position of 11/30/2018.

(2) In June 2016 the interest held in iZetlle do Brasil S.A was sold.

(3) At the ESM held on April 29, 2016 was approved the reform in the distribution structure of the capital of Cibrasec through the creation of preferred shares issued by the Company with voting rights and the share conversion of the common shares of Company into preferred shares, this reform was ratified at the ESM held on May 30, 2016. Banco Santander became part of their ordinary shares held in the capital of Cibrasec, the corresponding amount to 5,000 (five thousand) common shares issued by Cibrasec 50 (fifty) preferred shares in the proportion of 100 (one hundred) common shares for each one (1) preferred share, and still held 4,000 (four thousand) common shares in the capital of Cibrasec. Each preferred share entitles the holder the right to 100 (one hundred) times the right to dividends of the common shares, so that the economic rights were maintained, however, the conversion resulted in reduction in the percentage shareholding in Cibrasec.

(4) Company incorporated in April 2017 and is in the pre-operational phase. Pursuant to the shareholders' agreement, control is shared between shareholders who hold 20% of their capital stock each. At the Extraordinary General Meeting held on July 6, 2017, the capital increase of Gestora de Crédito was approved in the total amount of R$65,822, so that the capital stock increased from R$1 to R$65,823, through the issue of 6,582,200 (six million, five hundred and eighty-two thousand and two hundred) new shares, of which 3,291,100 (three million, two hundred and ninety-one thousand and one hundred), 1,316,440 (one million, three hundred and sixteen thousand, four hundred and forty) preferred shares Class A  and 1,316,440 (one million, three hundred and sixteen thousand, four hundred and forty) preferred shares Class B and 658,220 (six hundred and fifty eight thousand, two hundred and twenty) class C preferred shares, with no par value, at the issue price of R$10.00, corresponding to the equity value of the shares. The shares issued in the capital increase were fully subscribed on the same date by the shareholders in the proportion of 20% of their capital stock each.     

(5)  In 2017 refers to the incorporation of Gestora de Inteligência de Crédito - partnership between Banco Santander and other banks from brazilian market (according to note 3.d) and in 2016 refers to the acquisition agreement of part of the financial operations from the Group PSA in Brazil and the consequent creation of a Joint Venture.

(6) At the ESM realized in September 26, 2016, was approved the reduction of the capital of Webmotors S.A. without cancellation of shares in the amount of R$109,800 to be considered excessive to maintain its activities, and the capital of R$194,580 to R$84,780.  

(7) On December 30, 2016, at the EGM of Webmotors S.A., the merger and the Private Instrument of Protocol and Justification of Incorporation of Virtual Motors by Webmotors S.A. were approved, so that Webmotors S.A. received, for its accounting value, based on the balance sheet drawn up on November 30, 2016, all of the assets, rights and obligations of Virtual Motors, with the extinction of Virtual Motors that will be succeeded by Webmotors S.A. in all its rights and obligations.              

(8) Although the participations was less than 20%, the Bank exercises control over the entity together with other major stockholders' through a stockholders' agreement where no business decision can be taken by a single shareholder.

(9) At the EGM held in October 5, 2017, it was approved the share capital increase of the Gestora de Crédito in the amount of R$285,205, that way its share capital increased from R$65,823 to R$351,028, through the issuance of 29,013,700 new shares, being 14,506,850 as ordinary shares, 5,802,740 preferred shares Class A, 5,802,740 preferred shares Class B, and 2,901,370 preferred shares Class C, without par value, at the issuance price of R$ 9,83 per share. It was also approved by unanimous decision the payment timetable of the new shares issuance made by the Management of Gestora de Crédito. That way, the share capital increase was fully subscribed at the same day by the shareholders in the proportion of 20% of each interest which were partially paid. 

(10) According to its Bylaws, EBP was formed in order to carry out projects to contribute for the brazilian economic and social development for the period of 10 years. After the conclusion of the timetable set EPB closes its activities this year of 2018. The dissolution of its rights and liquidation were aproved in the EGM held on january 29, 2018.

(11) Although participation exceeds 50%, in accordance with the shareholders' agreement, the control is shared by  Santander Corretora de Seguros (Current corporate name of Santander Participações S.A.),  and Carsales.com.  Investments PTY LTD (Carsales), shareholder based in Australia.

(12) Pursuant to the shareholders' agreement, the control is shared by Santander Corretora de Seguros (current corporate name of Santander Participações SA) and PSA Services LTD.

(13) In December 2017, according to the contractual change, the PSA Corretora de Seguros shareholders decided to increase its share capital in R$401, that way the share capital increased from R$ 500 to R$901, through the issuance of 400,532 new shares, which each new share has the value of R$1. The new shares issued were subscribed and paid at the same date, in local currency, according to the proportion of each shareholder equivalent to 50% to the company´s share capital, that is, 200.266 shares.
(14) The Bank has a participation of less than 20%, and there is no control block in the company, and business decisions are taken jointly by the stockholders.

Principal jointly controlled entities

Webmotors S.A.: A company incorporated in the form of private limited company with headquarters in São Paulo which is engaged in the design, implementation and / or availability of electronic catalogs, space, products, services or means of marketing products and / or services related to the automotive industry, on the Internet or other means related to e-commerce activities and other Internet uses or applications, as well as the participation in capital in other companies and the management of related business. It is a company of the Economic Conglomerate - Financial Santander (Santander Group) and Carsales.com Investments PTY LTD (Carsales), which its operations are conducted as part of a group of institutions that operate jointly. According to the Shareholders' Agreement, the key decisions that impact this partnership are taken jointly between Banco Santander and other controllers.

 

 

 

 

 

2018

 

2017

 

 

2016

 

 

 

Banco RCI Brasil

Webmotors

Banco RCI Brasil

Webmotors

Banco RCI Brasil

 

Webmotors

 Current assets

 

9,849,508

221,313

9,057,261

490,458

8,603,844

 

145,499

Current liabilities

 

8,679,715

60,905

7,985,647

50,413

7,276,320

 

35,231

Cash and cash equivalents

 

37,115

1,034

47,782

1,989

23,612

 

1,663

Depreciation and amortization

 

(977)

(7,423)

(1,600)

16,353

(911)

 

(12,295)

Revenue

 

1,316,687

167,881

1,315,695

127,064

1,575,550

 

135,242

Interest income

 

1,290,703

4,134

1,294,119

7,178

1,368,643

 

28,047

Interest expense

 

(575,944)

-

(626,654)

-

(903,061)

 

-

Tax Income / (expense)

 

(147,266)

(16,013)

(122,544)

(12,568)

(3,326)

 

(13,370)

Current financial liabilities (excluding trade and other payables and provisions)

 

3,130,908

49,709

3,897,010

33,320

3,629,575

 

31,707

Non-current financial liabilities (excluding trade and other payables and provisions)

 

4,813,909

5,458

4,058,986

3,247

3,646,745

 

1,736