Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000101
Chunk: 3

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 3
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 programme, which provides greater operational leverage, improving business dynamics and promoting leaner and more agile structures. The continued replacement of legacy technology with shared global technology platforms, such as Santander’s cloud-based core banking platform Gravity, has helped the bank achieve cumulative savings of nearly €550 million since December 2022. Santander is one of the first major global banks to digitalize its core banking system, with Santander Spain completing its migration in June. These investments and initiatives have

Corporate Communications Ciudad Grupo Santander, edificio Arrecife, planta 2 28660 Boadilla del Monte (Madrid) comunicacion@gruposantander.com www.santander.com - Twitter: @bancosantander 3 helped the bank reduce costs (-0.4% in euros in the first half of 2025) and achieve the best efficiency ratio in more than 15 years. Provisions were down (-1%) as credit quality improved, reflecting the strength of the group’s diversified balance sheet and its focus on active risk management. The cost of risk fell by seven basis points to 1.14%, in line with the 2025 target, with Retail and Consumer, which account for around 80% of loan-loss provisions, improving to 0.89% and 2.09%, respectively, while the non-performing loan (NPL) ratio also improved to 2.91% (-11 basis points), the lowest level in over 15 years. The bank’s CET1 capital ratio strengthened to 13%, up 0.1 percentage points in the quarter4, at the top end of the bank’s operating range of 12-13% after achieving the 2025 target ahead of schedule. This was driven by strong organic capital generation, which more than offset the expected shareholder remuneration3 and other charges. On 2 May, the bank paid a final cash dividend of 11 euro cents per share against 2024 earnings, resulting in a total cash dividend per share charged against 2024 of 21 euro cents, an increase of 19%. This was complemented by two share buyback programmes from 2024 earnings, amounting to approximately €3.1 billion in total. The bank has bought back 14% of its outstanding shares since November 2021. As a result, total shareholder remuneration against 2024 results was approximately €6.3 billion. In application of the bank’s shareholder remuneration policy3, Santander announces today a