Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 33

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 33
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% -88bps • Customer growth driving loan increase, mainly in Retail. Double-digit growth in deposits, mainly demand, and mutual funds • Profit +9% YoY, driven by strong NII performance (volumes), fees (transactional, mutual funds and FX) and lower LLPs. Costs impacted by a competitive labour market • Profit up 17% QoQ favoured by lower CHF mortgage portfolio charges, with solid NII performance in a lower interest rate context • Loans up across businesses. Increases in deposits, driven by demand. Mutual funds grew double digits • Profit YoY affected by the impact of lower interest rates on NII, with solid fee growth (transactional) and cost control. Excellent RoTE (31%) • In the quarter, profit impacted by the effect of seasonality and lower interest rates in revenue, with flat costs Underlying P&L* Q3'25 % Q2'25 9M'25 % 9M'24 NII 328 -2.4 1,013 -16.7 Net fee income 123 -4.4 378 5.9 Total revenue 481 -1.6 1,474 -10.3 Operating expenses -134 0.5 -404 -0.2 Net operating income 347 -2.4 1,070 -13.5 LLPs -7 41.5 1 — Attributable profit 240 -2.6 765 -3.4 (*) € mn and % change. RoTE post-AT1 30.5% +4.1pp RoTE post-AT1 23.6% +2.6pp

48 • Loans slightly down reflecting our focus on profitability and asset rotation initiatives. Deposits +3%, with strong growth in Consumer, supported by Openbank • Profit up 39% YoY, driven by revenue growth (both NII and fees) and better LLPs in Consumer (resilient auto customer behaviour) • NOI +8% QoQ driven by strong in NII and fees (notably CIB) and flat costs driving operating leverage. Profit affected by auto seasonality in LLPs and higher tax burden in the quarter (lower EV tax incentives) • New digital solutions, streamlined processes and personalized services are improving customer experience, driving loan and deposit growth • Profit +11% YoY, with revenue growing above costs, driven by NII (volumes growth and lower cost of deposits) and fees (mutual funds