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Santander Consumer USA equity decreased $17 million

Staff writer |
Santander Consumer USA Holdings posted its report for the fiscal year ended December 31, 2015. Year-end stockholders' equity decreased $17 million, or less than 1 percent.

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Net income decreased approximately 5 percent to $827 million, or $2.31 per diluted common share, from $866 million, or $2.41 per diluted common share, driven by the correction of an overstatement of the allowance at the beginning of the year.

Year-end credit loss allowance increased $7 million, or less than 1 percent. Net charge-off ratio remains unchanged.

Q4 net income decreased to $12 million, or $0.03 per diluted common share, from $68 million, or $0.19 per diluted common share, driven by the correction of an overstatement in the allowance as of the beginning of the quarter.

Q4 quarter-end credit loss allowance increased $7 million, or less than 1 percent.

Quarter-end stockholders' equity decreased $17 million, or less than 1 percent. Net charge-off ratio remains unchanged.


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