Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000103
Chunk: 10

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 10
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 rise in total income, supported by a strong net fee income performance and higher net interest income excluding Argentina, increasing in most units. Costs declined in real terms and provisions were stable. u The efficiency ratio stood at 39.4% and cost of risk improved to 0.89%. RoTE (post-AT1) increased to 17.2%.

u In Consumer , attributable profit was EUR 1,042 million, with 11% growth in profit before tax driven by solid performances in net interest income and provisions. These strong results were offset by the impact of lower fiscal benefits following reduced electric vehicle demand. u The efficiency ratio stood at 41.5%, cost of risk improved to 2.09% and RoTE (post-AT1) was 10.4%.

u In CIB , attributable profit increased double digits to EUR 1,534 million, driven by higher income, supported by a strong net fee income performance, especially in Global Transaction Banking, and higher gains on financial transactions in Q1 2025 in Global Markets. u The efficiency ratio stood at 43.7%. RoTE (post-AT1) improved 2.7 pp to 20.8%.

u In Wealth , attributable profit amounted to EUR 948 million, also rising double-digits, driven by net fee income, the good performance of our joint ventures in Insurance and our Portfolio Investments business. u The efficiency ratio improved 1.5 pp to 35.7% and RoTE (post-AT1) was 67.3%.

u In Payments , attributable profit reached EUR 335 million, boosted by double-digit growth in net interest income and net fee income, with costs falling 1% in real terms, more than offsetting higher provisions in Cards in Brazil and Mexico in part due to higher activity. u Cost of risk was 7.54%. In PagoNxt, EBITDA margin reached 28.8% (+8.7 pp year-on-year).

1. On 5 February 2025, the board announced its intention to distribute EUR 10 billion to shareholders through share buybacks charged against 2025 and 2026 results and against the expected capital excess. This share buyback target includes i) buybacks that are part of the existing shareholder remuneration policy, and ii) additional buybacks following the publication of annual results to distribute year-end excesses of CET1 capital. The implementation of the shareholder remuneration policy and additional buybacks are subject to