Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000103
Chunk: 42

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 42
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  1,785 |     | -6 |          |     | -5 |     |  3,687 |     | +9 |          |     | +14 |
| Detailed financial information in appendix. |     |       |     |        |     |    |          |     |    |     |        |     |    |          |     |     |

| 32 |     | January- June2025 |

| Significant events    
 Key consolidated data 
 Business model        |     | Group financial information |     | Financial information by segment |     | Sustainability       
 Corporate governance |     | Appendix |     | Index |

|              |     | RETAIL SPAIN |     | Profit before tax |
| EUR 1,647 mn |     |              |     |                   |

Commercial activity and business performance In H1 2025, market share growth in payrolls and pension funds, together with the increase in customers using Bizum, supported the above-market increase in transactionality and reflects our progress in our business transformation. Gross loans and advances to customers, excluding reverse repos, decreased 2% year-on-year affected by the decrease in SMEs and corporates, in line with our focus on active risk management and balance sheet optimization, partially offset by an improvement in personal loans. Customer deposits, excluding repos, increased 4% year-on-year mainly due to demand deposits driven by our new value proposition for Select customers. Mutual funds increased 14%. As a result, customer funds rose 6%. Results Profit before tax in H1 2025 reached EUR 1,647 million, 25% higher than in H1 2024, partially driven by impact of the temporary levy on revenue earned in Spain, which was recorded in full in Q1 2024 (accrued quarterly in 2025). By line: • Total income decreased 1%, mainly due to the decline in net interest income in a lower interest rate environment. Net fee income was flat, as the increase in fees from commercial activity, mainly mutual funds, offset a regulatory change affecting instant transfers. • Costs increased slightly (+1%). In real terms, costs declined, benefitting from process automation and greater digital adoption. The efficiency ratio was 32.0%. • Net loan-loss provisions decreased 6%, mainly due to the good portfolio performance and active risk management, which improved credit quality. In the quarter , profit before tax increased 3%, as the good performance in net loan-loss provisions, driven by better credit quality and lower