Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 21

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 21
---
.0 Net fee income 1,133 -4.7 3,529 5.4 -0.4 Total revenue 7,627 -2.2 23,337 0.6 -3.6 Operating expenses -2,971 -3.0 -9,159 1.3 -3.2 Net operating income 4,655 -1.6 14,178 0.1 -3.9 LLPs -1,275 -8.9 -4,105 -1.2 -7.9 Attributable profit 1,984 11.3 5,670 8.6 5.3 (*) € mn and % change in constant euros. (1) % change in current euros. • ONE Transformation delivering tangible progress: fees (+5%), digital sales (+13%), cost-to-serve (-3%) and high profitability levels • Loans stable YoY, reflecting our focus on active risk management and balance sheet optimization. Deposits and mutual funds rose in most countries • Strong profit increase YoY (+9%), on the back of higher revenue, effective cost and risk management. By line: − NII rose 1% excluding Argentina, supported by Chile (lower costs of deposits), Mexico (volumes and cost of deposits), the UK (good margin management) and Poland (volumes) − Fees up, mainly in mutual funds, FX and insurance − Costs improved 2% in real terms, reflecting our transformation efforts − LLPs down 1%, with solid performances in Poland, Spain and Mexico • Profit +11% QoQ driven by lower costs, LLPs and CHF mortgage portfolio charges in Poland. Fees mainly impacted by Argentine peso depreciation RoTE post-AT1 17.6% -0.5pp

37 RETAIL SPAIN Note: Sep-25 data and YoY changes (loans, deposits and mutual funds in constant euros). RETAIL UK Underlying P&L* Q3'25 % Q2'25 9M'25 % 9M'24 NII 1,443 -0.4 4,357 -1.8 Net fee income 259 -3.8 819 -1.3 Total revenue 1,739 -1.6 5,299 -1.8 Operating expenses -558 -1.6 -1,696 0.5 Net operating income 1,181 -1.6 3,603 -2.9 LLPs -