Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000080
Chunk: 23

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 23
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), fees (funds and insurance) and lower costs and LLPs

40Note: Mar-25 data and YoY changes (loans, deposits and mutual funds in constant euros). RETAIL MEXICO RETAIL BRAZIL Underlying P&L* Q1'25 % Q4'24 % Q1'24 % Q1'24¹ NII 756 -0.4 7.6 -7.6 Net fee income 171 10.0 13.9 -2.2 Total revenue 896 0.9 7.7 -7.5 Operating expenses -397 -13.6 7.1 -8.1 Net operating income 499 16.3 8.2 -7.1 LLPs -135 32.7 -23.5 -34.3 Profit before tax 343 8.0 23.5 6.0 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €31bn +8% Deposits €35bn +2% Mutual funds €13bn +37% Yield on loans 13.33% -49bps Cost of deposits 4.07% -114bps Efficiency 44.3% -0.3pp Loans €56bn -2% Deposits €56bn +9% Mutual funds €21bn +16% Yield on loans 16.54% +30bps Cost of deposits 8.24% +102bps Efficiency 40.5% +0.7pp Underlying P&L* Q1'25 % Q4'24 % Q1'24 % Q1'24¹ NII 1,534 -5.2 -0.2 -12.8 Net fee income 359 1.6 3.5 -9.6 Total revenue 1,878 -4.6 1.6 -11.3 Operating expenses -761 -1.2 3.3 -9.8 Net operating income 1,117 -6.8 0.4 -12.3 LLPs -718 -2.4 9.1 -4.7 Profit before tax 233 -20.9 -20.8 -30.8 (*) € mn and % change in constant euros. (1) % change in current euros. • Loans down YoY, mainly in personal loans and corporates. Deposits up YoY (especially time deposits) and mutual