Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 26

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 26
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 Profit before tax 168 -33.1 669 56.1 51.8 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €141bn +3% Deposits €82bn +2% Mutual funds €5bn +16% Yield on loans 5.77% +6bps Cost of deposits 1.91% -39bps Efficiency 45.7% -0.8pp Loans €49bn -5% Deposits €45bn +10% Mutual funds €4bn +19% Yield on loans 12.04% +59bps Cost of deposits 2.13% +5bps Efficiency 41.4% +0.3pp Underlying P&L* Q3'25 % Q2'25 9M'25 % 9M'24 % 9M'24¹ NII 1,207 4.7 3,473 6.8 6.7 Net fee income 198 7.4 571 -16.1 -16.1 Total revenue 1,504 5.8 4,330 1.9 1.8 Operating expenses -652 -1.0 -1,978 0.2 0.1 Net operating income 852 11.6 2,352 3.4 3.3 LLPs -307 8.5 -926 7.4 7.3 Profit before tax 485 31.3 1,212 4.8 4.6 (*) € mn and % change in constant euros. (1) % change in current euros. • Loans grew YoY, driven by auto. Deposits up (mainly demand deposits), in line with our strategy to increase retail funding • PBT +5% YoY. Strong performance in NII (margins and volumes) and stable costs, amply offset the impact of new insurance regulation in Germany on fees and higher LLPs (corporates and macro in Germany) • PBT up 31% QoQ, boosted by NII (margins), fees (insurance) and leasing income, with good cost control and lower CHF provisions • Loans reflecting our focus on profitability and asset rotation initiatives. Deposits +10% driven by growth in Openbank • PBT +56% YoY, driven by better NII (higher auto loan yields), fees (auto servicing) and LLPs (res