Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 37

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 37
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ates. In individuals, there were reductions in mortgage portfolios in the UK, in line with our strategy, and in Spain still impacted by early prepayments. These declines were partially offset by good performances in the other countries. Personal loans showed positive trends, especially in Spain, Argentina and Poland. Loans to SMEs were affected by lower volumes in Spain and the UK, with positive dynamics across the rest of our footprint. Corporate loans increased, driven by most countries but especially by Poland, Mexico, the UK and Spain, which more than offset the decrease in the US, due to the run-off of non-core portfolios, and in Brazil. Customer deposits increased 1% year-on-year. Excluding repos and in constant euros, they grew 2%, driven by Spain, Poland, Brazil and Argentina. By product, there was a 10% increase in time deposits with good performances in most countries in Europe and South America. Demand deposits recorded positive trends in most countries, offsetting the fall in the UK. Mutual funds, rose 15% in constant euros, with positive performances in the most countries. Overall, customer funds increased 4% in constant euros.

| Retail. Business performance.March 2025        |     |     |     |     |     |     |
| EUR billion and YoY % change in constant euros |     |     |     |     |     |     |
| 608                                            |     | -1% |     | 745 |     | +4% |

| Others |

| Others |

| Gross loans and advances to customers excl. reverse repos |     | Customer deposits excl. 
 repos + mutual funds    |

Results Attributable profit in Q1 2025 was EUR 1,902 million, 24% higher year-on-year. In constant euros, profit rose 28% year-on-year. This year-on-year comparison is favoured by the temporary levy on revenue earned in Spain which was recorded in full in Q1 2024 while the new tax in Spain in 2025 is accrued quarterly. On a like-for-like basis (i.e. accruing the 2024 temporary levy), profit increases 13% year-on-year in constant euros, by line: • Total income increased 2%, driven by generalized positive performances in net fee income and by gains on financial transactions which increased 24% year-on-year, mainly in Brazil and Spain. Good net interest income performance in most countries, though it decreased 2%, affected by the impact of Argentina, where the interest rates