Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 139

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 139
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 groups                                                                                                                                                         
 We offer financial support to vulnerable groups so customers will have access to basic products and know how to use them.                                                                         |     |                                                |     | Support to senior citizen customersE        |

We also have global initiatives such as GetNet, which provides digital payment services to individuals and merchants with a wide range of payments solutions, boosting simplicity, speed and security, that reaches underbanked segments improving their financial inclusion.

#### Finance

#### 1.6 million
New people subject to financial inclusion measures related to finance

We promote financing for underbanked SMEs and entrepreneurs, as well as the basic needs of low-income population through products and services tailored to their needs.

Our microfinance proposition supports inclusive growth and economic development in Latin America, where the financial inclusion gap is wide. We have been offering microfinance services to low-income and underbanked entrepreneurs since 2002. We help our customers set up small businesses, which drive economic growth and social mobility.

Through these initiatives, we offer loans to boost the income-generating capacity of new ventures and help microentrepreneurs safeguard their business through financing that meets their working capital needs. A large portion of the customers under these initiatives are women, who are less likely to access financial services in developing markets.

In 2024, we continued to:

• evolve our business proposition from microcredit towards microfinance, by extending our customer value proposition through solutions that go beyond credit — basic accounts, financial education, microinsurance and other services.

• make business models more efficient, without jeopardizing the social impact of our proposition. For instance, we leveraged the use of technology to open low-cost mobile branches and improved handling procedures to minimize the time from microloan application to the funds being available to our customers.

• combine group and individual credit granting model, adjusting to our customers’ circumstances and needs, high higher presence of individual model in Peru and Colombia, and growing — albeit at a lower rate — in Brazil and Mexico.

Annual report 2024 96

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

| Other finance-based initiatives and services                                                                             |     |                                                                            |     |                                             |
| Supporting customers in financial distress                                                                               
 We have debt relief programmes that include payment deferrals and line of credit extensions.                             |     |                                                                            |     | Supporting customers in financial distressF |
| Financing low-income households' basic needs                                                                             
 We offer products and services