Company: BCDRF
Filing Date: 2025-02-05
Form Type: 6-K
Source: 0000891478-25-000035
Chunk: 11

Company: Banco Santander, S.A.
Filing Date: 2025-02-05
Form: 6-K
Chunk 11
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1% 43.7% 42.8% 42.4% 41.8% Constant €mn Constant €mn Constant €mn +20% Retail Consumer Retail and Consumer represent 70% of the Group’s total costs CIB Wealth CIB and Wealth represent 20% of the Group’s total costs 41,464 45,377 2023 2024 17,804 18,061 2023 2024 Retail and Consumer businesses CIB and Wealth businesses Constant €mn Costs Efficiency Constant €mn Total revenue Constant €mn Costs Constant €mn Net fee income +1% +9% 3,348 4,037 2023 2024 4,548 5,120 2023 2024 +21% +13% Payments operating performance reflects our strategic investments Recurrency (% fees / costs) 73.7% 78.9% 43.0% 39.8% Note: data and YoY % changes in constant euros. Contribution to Group costs as a percentage of total operating areas, excluding the Corporate Centre.

21 Consistent execution of ONE Transformation, leveraging Santander’s network and scale, is improving both revenue and costs ahead of our plan • Wealth: collaboration fees with CIB and Corporates reached €4.0bn (+12% vs. FY'23) • Consumer: expansion of OEM agreements • Multi-Nationals: +5% YoY revenue growth • Product simplification: 39% fewer products in FY'24 (-48% vs. Dec-22) • 62% products / services digitally available (60% Sep-24; 56% Dec-23) • US: $250mn efficiencies captured in Consumer and Commercial since 2022 ONE Transformation Global & Network businesses1 Global Tech capabilities & others FY'24FY’22 Note: FY'24 or latest available data. (1) As defined at the 2023 Investor Day. Efficiency execution 2022-2024 • Global approach to technology: €265mn efficiencies in FY'24 (€452mn since Dec-22) - Gravity (back-end) efficiencies - Process optimization - Global vendor agreements - IT&Ops shared-services -260bps -66bps -73bps Reminder from Investor Day Efficiency 2022-2025 200-250bps c. 42% 100-150bps 50-75bps FY’22 2025 ID target 41.8%45.8% 45.