Company: BCDRF
Filing Date: 2025-02-12
Form Type: 6-K
Source: 0000950103-25-001895
Chunk: 0

Company: Banco Santander, S.A.
Filing Date: 2025-02-12
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 February, 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

Banco Santander,
S.A. (“Santander” or the “Bank”), in compliance with the Securities Market legislation, hereby announces:

Fitch Ratings (“Fitch”)
has upgraded Santander’s Long Term Issuer Default Rating (IDR) from ‘A-‘ to ‘A’, Short term IDR from ‘F2’
to ‘F1’ and Viability Rating from ‘a-‘ to ‘a’. The outlook on the IDR is stable. The assigned rating
is one notch above the Spanish sovereign Long-Term IDR of 'A-'/Positive.

A list of rating actions
taken yesterday is detailed below:

| ENTITY/DEBT           | RATING  |         |         | ACTION  |
|                       | TYPE    | PRIOR   | CURRENT |         |
| Banco Santander, S.A. | LT IDR1 | A-      | A       | Upgrade |
| ST IDR2               | F2      | F1      | Upgrade |         |
| Viability             | a-      | a       | Upgrade |         |
| DCR3                  | A(dcr)  | A+(dcr) | Upgrade |         |
| Preferred             | LT      | BB      | BB+     | Upgrade |
| Senior non-preferred  | LT      | A-      | A       | Upgrade |
| Long-term deposits    | LT      | A       | A+      | Upgrade |
| Senior preferred      | LT      | A       | A+      | Upgrade |
| Subordinated          | LT