Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000101
Chunk: 5

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 5
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1 of 13% (operating range of 12-13%); and RoTE of c.16.5% post-AT1. Global businesses (H1 2025 vs H1 2024) To better reflect the performance of each business, the year-on-year changes provided below are presented in constant euros unless stated otherwise. Variations in current euros are available in the financial report. Retail & Commercial Banking’s attributable profit grew 14% to €3,687 million driven by the good performance in revenue, supported by strong net fee income growth (+8%) and higher net interest income increasing in most units. The total number of customers increased by seven million, the efficiency ratio stood at 39.4% and cost of risk improved to 0.89%. ONE Transformation is also delivering solid results reflected in digital sales (+16%) and higher profitability, with a RoTE of 17.2% post-AT1. Loans fell 1% in line with the bank’s strategic focus on profitability, with deposits up 3%. Digital Consumer Bank’s attributable profit fell 1% to €1,042 million, as an 11% increase in profit before tax, driven by higher net interest income and lower provisions, was not fully reflected in profit, affected by the impact of lower fiscal benefits following reduced electric vehicle demand in the US. The efficiency ratio stood at 41.5% and the cost of risk improved to 2.09%. Loans increased 2%, driven by auto (+4%), and deposits rose 10%, in line with the bank’s strategy to reduce funding costs. The bank continued to enhance Openbank’s value proposition since its recent launch in the US, Mexico and Germany. CIB reported record attributable profit of €1,534 million (+15%) on the back of all-time high revenue of €4,354 million (+9%), with record fee income. CIB saw strong activity mainly driven by growth initiatives in Global Markets, after an excellent start to the year with market share improving in a more challenging context. The strategic focus on fee generation and capital-light business further improved profitability, with a RoTE of 20.8% post-AT1, while maintaining a leading position in efficiency (43.7%). Note: YoY changes in constant euros. (*) Payments YoY variation excluding the PagoNxt write-downs in Q2’24 of our investments related to our merchant platform in Germany and Superdigital in Latin America (€243mn, net of tax and minority