Company: BCDRF
Filing Date: 2025-02-05
Form Type: 6-K
Source: 0000891478-25-000035
Chunk: 32

Company: Banco Santander, S.A.
Filing Date: 2025-02-05
Form: 6-K
Chunk 32
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 1.9 -3,830 4.2 4.1 Net operating income 954 -0.3 3,750 6.3 6.2 LLPs -686 2.7 -2,507 -3.3 -3.3 Attributable profit 229 2.0 1,109 19.0 19.0 (*) € mn and % change in constant euros. (1) % change in current euros. Underlying P&L* Q4'24 % Q3'24 2024 % 2023 % 2023¹ NII 1,097 1.5 4,631 8.1 5.0 Net fee income 322 0.8 1,385 3.8 0.8 Total revenue 1,558 8.0 6,278 9.6 6.4 Operating expenses -689 11.2 -2,665 6.0 3.0 Net operating income 869 5.7 3,613 12.3 9.1 LLPs -263 -7.2 -1,277 15.8 12.5 Attributable profit 438 13.4 1,671 10.3 7.2 (*) € mn and % change in constant euros. (1) % change in current euros. • Successful customer acquisition campaigns and new commercial agreements are boosting loans and deposits in most of our businesses • Profit rose YoY, with positive jaws as strong revenue (fees and lower funding costs) outpaced cost growth. LLPs normalizing as expected • Profit grew double-digits QoQ, backed by good top line performance (volumes) and lower LLPs, more than offsetting cost growth • Loans down 2%, as higher CIB activity and auto originations were offset by capital-accretive transactions. Deposits fell in line with our CIB funding optimization strategy • Profit up c.20% YoY, as 5% revenue growth combined with lower LLPs amply offset higher costs relating to investments in CIB • In the quarter, profit up supported by fees and lower tax burden, while impacted by seasonality in auto provisions €118bn -2% €94bn -8% €15bn +12% 50.5% -0.5pp 1.82% -10bps 10.7% +1.6pp

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