Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 781

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 781
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 to pay on maturity of these liabilities at 31 December 2024 is EUR 1,851million higher than their carrying amount (EUR 866million higher at 31 December 2023 and EUR 1,044million higher at 31 December 2022), no significant impact on results as its fair value is covered by hedging operations.

Within Deposits, there are repurchase agreements amounting to EUR 58,569million at 31 December 2024.

44. Exchange differences, net Exchange differences shows basically the gains or losses on currency dealings, the differences that arise on translations of monetary items in foreign currencies to the functional currency. Grupo Santander manages the currencies to which it is exposed together with the arrangement of derivative instruments and, accordingly, the changes in this line item should be analysed together with those recognised under 'Gains/losses on financial assets and liabilities' (see note 43).

Annual report 2024 733

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

45. Other operating income and expenses

Other operating income and Other operating expenses in the consolidated income statements include:

| EUR million                                                                     |     |        |      |     |        |      |     |        |      |
|                                                                                 |     |        | 2024 |     |        | 2023 |     |        | 2022 |
| Other operating income                                                          |     |    803 |      |     |  1,104 |      |     |  1,510 |      |
| Non- financial services                                                         |     |    654 |      |     |    752 |      |     |    770 |      |
| Other operating income                                                          |     |    149 |      |     |    352 |      |     |    740 |      |
| Other operating expense                                                         |     | -2,324 |      |     | -2,827 |      |     | -2,803 |      |
| Non-financial services                                                          |     |   -498 |      |     |   -674 |      |     |   -661 |      |
| Other operating expense:                                                        |     | -1,826 |      |     | -2,153 |      |     | -2,142 |      |
| Of which, credit institutions deposit guarantee fund and single resolution fund |     |   -536 |      |     |