Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000080
Chunk: 27

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 27
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GM): excellent quarter across most of our countries, on the back of higher volatility • Deposit performance in line with our strategy in 2024 to reduce excess corporate deposits • Profit grew double digits YoY, backed by strong revenue increase, supported by fees from GTB and GB. Strong NII growth excluding Argentina (+12% YoY) • Profit up QoQ on the back of solid revenue performance and lower costs. Of note, outstanding fee growth across business lines. NII strongly affected by the Argentine FX accounting, excluding it +8% Underlying P&L* Q1'25 % Q4'24 % Q1'24 % Q1'24¹ NII 953 -12.6 -5.2 -9.5 Net fee income 716 8.5 11.2 9.4 Total revenue 2,220 6.3 7.9 4.6 Operating expenses -952 -7.3 9.4 7.8 Net operating income 1,268 19.6 6.8 2.3 LLPs -13 -26.9 -67.0 -68.0 Attributable profit 806 15.5 17.7 12.6 (*) € mn and % change in constant euros. (1) % change in current euros.

44 Wealth Management & Insurance P&L HIGHLIGHTS Underlying P&L* Q1'25 % Q4'24 % Q1'24 % Q1'24¹ NII 375 -8.5 -16.1 -16.3 Net fee income 419 2.5 16.5 14.8 Total revenue 1,019 -1.1 14.5 12.6 Operating expenses -372 -11.0 9.9 8.5 Net operating income 647 5.7 17.3 15.2 LLPs -8 -58.4 97.3 99.7 Attributable profit 471 5.7 28.0 25.2 Contribution to profit 897 7.2 18.7 18.7 (*) € mn and % change in constant euros. (1) % change in current euros. Note: Mar-25 data (AuMs); YTD data (net new money, net sales and GWPs). YoY changes in constant euros. (1) Annualized YTD net new money as a % of PB