Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 19

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 19
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ased 6%, strongly affected by the exchange rate effect on Argentina's results in Q4 2024. Excluding Argentina, NII was stable, as increases in CIB (+8%) and Payments (+6%) from higher activity, offset a worse performance in Retail (-1%), mainly in Brazil due to the negative sensitivity of its balance sheet to interest rate hikes.

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#### Net fee income
was stable quarter-on-quarter. Excluding Argentina, it increased 4%, driven by growth in most countries in Retail and the good performance in CIB and Wealth, which offset the decline in Consumer (new insurance regulation in Germany) and Payments, affected by the seasonality of the last quarter in the year in both PagoNxt and Cards.

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### Gains on financial transactions
fell 12%, mainly affected by worse performance in the Corporate Centre related to FX hedges, partially offset by higher results in CIB, driven by Global Markets.

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#### Operating expenses
in Q1 2025 declined 5% quarter-on-quarter (-2% excluding Argentina), underpinned by the good performance in all global businesses except Consumer, where costs were strongly affected by the new Openbank launches, and Payments, due to PagoNxt's platform investments.

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#### Net loan-loss provisions
were fairly stable, supported by the significant improvement in DCB US, due to a good underlying performance and some seasonality in Q4, offsetting higher provisions mainly in the Corporate Centre to accelerate NPL ratio reductions, improving the Group's credit quality.

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#### Other gains (losses) and provisions
recorded a EUR 700 million loss in Q1 2025, compared to a EUR 1,540 million loss in Q4 2024, which was impacted by the aforementioned provision for potential complaints related to motor finance dealer commissions in the UK.

| January - March2025 |     | 15 |

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

#### Grupo Santander balance sheet
| Grupo Santander. Condensed balance sheet                              |     |           |        |     |           |        |        |        |          |     |        |     |     |           |        |
| EUR million                                                           |     |           |        |     |           |