Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 21

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 21
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 operating areas. March 2025                               |

| January - March2025 |     | 17 |

| Key consolidated data 
 Business model        |     | Group financial information |     | Financial information by segment |     | Sustainability       
 Corporate governance |     | Appendix |     | Index |
|                       |     | Balance sheet               |     |                                  |     |                      |     |          |     |       |

Customer funds

Customer deposits amounted to EUR 1,081,894 million as at end March 2025, up 2% quarter-on-quarter and +4% year-on-year. The Group uses customer funds (customer deposits excluding repos, plus mutual funds) for the purpose of analysing traditional retail banking funds, which amounted to EUR 1,219,260 million as at end March 2025. The comments below do not include the exchange rate impact (i.e. in constant euros), except for Argentina and any grouping which includes it. For further information, see the 'Alternative performance measures' section in the appendix to this report. Compared to December 2024 , customer funds grew 1% in constant euros, with the following detail: • By product, customer deposits excluding repos were fairly flat, with time deposits rising slightly (+1%) and demand deposits were stable. Positive momentum continued in mutual funds (+4%). • By business, customer funds grew 4% in Consumer , Wealth and Payments. They were flat in CIB and fell slightly in Retail (-1%). Compared to March 2024 , customer funds were 5% higher in constant euros, with the following detail: • By product, deposits excluding repos rose 3%, with growth in both demand deposits (+3%) and time deposits (+2%). Mutual funds increased 17%, with widespread good performances. • By business, there were generalized increases across most businesses. They rose 4% in Retail , boosted by time deposits and mutual funds and grew strongly in Consumer (+12%), in line with our deposit gathering strategy. They remained flat in CIB , as growth in demand deposits and mutual funds offset a decline in time deposits. In Wealth , they were up 12% due to mutual funds (+16%). As at end March 2025, customer funds maintained a diversified mix across our footprint, with presence in different countries in Europe (69% of Group's total customer funds), Latin America (22%) and the US (9%). The weight of demand deposits as a percentage of total customer funds was 55%, while time deposits accounted for 25%