Company: BCDRF
Filing Date: 2025-05-05
Form Type: 6-K
Source: 0000950103-25-005720
Chunk: 0

Company: Banco Santander, S.A.
Filing Date: 2025-05-05
Form: 6-K
Chunk 0
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<div align='center'>FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

For the month of May, 2025

Commission File Number: 001-12518

Banco Santander, S.A.

(Exact name of registrant as specified in its charter)

Ciudad Grupo Santander

28660 Boadilla del Monte (Madrid) Spain

(Address of principal executive office)</div>

Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:

| Form 20-F | X |     | Form 40-F |

<div align='center'>Banco Santander, S.A.

TABLE OF CONTENTS</div>

Item 1

<div align='center'>Santander announces the sale of 49% of Santander Polska to Erste Group Bank, and agrees strategic cooperation across CIB and payments</div>

| · | Erste Group Bank AG (“Erste”) to                                                                                        
 acquire a c.49% stake in Santander Bank Polska S.A. (“Santander Polska”) and 50% of Santander’s Polish asset management 
 business TFI for a total cash consideration of €7 billion.                                                              |

| · | The all-cash transaction at 584 zlotys per                                                                                               
 share values the bank at 2.2 times first quarter 2025 tangible book value per share, excluding the declared dividend of 46.37 zlotys per 
 share, and represents a premium of 7.5% versus Santander Polska’s closing price on 2 May 2025 excluding the dividend. Santander          
 Polska’s shares will trade ex-dividend on 12 May 2025.                                                                                   |

| · | Santander and Erste are also announcing a strategic                                                                                    
 cooperation to leverage each firm's strengths and footprint in Corporate & Investment Banking (CIB), and to allow Erste to gain access 
 to Santander’s global payments platforms.                                                                                              |

| · | Following the transaction, Santander will own                                                   
 c.13% of Santander Polska and intends to take full ownership of Santander Consumer Bank Polska. |

| · | Santander intends to distribute 50% of the                                                                            
 capital released