Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 22

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 22
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230 -5.7 -765 -4.4 Profit before tax 801 -4.3 2,447 10.0 (*) € mn and % change. Underlying P&L* Q3'25 % Q2'25 9M'25 % 9M'24 % 9M'24¹ NII 1,152 0.2 3,550 3.2 3.3 Net fee income 9 293.1 16 — — Total revenue 1,146 1.8 3,485 1.9 2.0 Operating expenses -593 -3.5 -1,860 -3.5 -3.5 Net operating income 553 8.2 1,625 8.9 9.0 LLPs 5 — -76 106.6 106.8 Profit before tax 488 50.2 1,166 -4.3 -4.2 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €155bn -2% Deposits €228bn +5% Mutual funds €49bn +14% Yield on loans 3.59% -50bps Cost of deposits 0.48% -22bps Efficiency 32.0% +0.7pp Loans €220bn -0% Deposits €206bn +1% Mutual funds €6bn +1% Yield on loans 4.13% +20bps Cost of deposits 1.93% -20bps Efficiency 53.4% -3.0pp • YoY performance in loans reflects our focus on balance sheet optimization. Deposits up, mainly time • NOI +9% YoY boosted by NII (higher yields and lower cost of deposits), fees and declining costs. PBT affected by LLP normalization and charges related to our transformation • PBT up 50% QoQ boosted by revenue growth, lower costs, LLP releases (portfolio sales) and lower regulatory charges • Loans reflect our focus on active risk management and balance sheet optimization. Deposits up 5% YoY, mainly driven by demand deposits. Mutual funds rose double digits • PBT up 10% YoY supported by solid underlying LLP trends and our proactive risk management that improves credit quality. Also favoured by the temporary levy charged in full in Q1’24 • In Q3, controlled costs and better credit quality. PBT affected by fees seasonality, lower