Company: BCDRF
Filing Date: 2025-02-05
Form Type: 6-K
Source: 0000891478-25-000035
Chunk: 27

Company: Banco Santander, S.A.
Filing Date: 2025-02-05
Form: 6-K
Chunk 27
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 on financial transactions with impact from foreign currency hedges and risk transfer initiatives • Cost reduction driven by ongoing simplification measures • The sum of the rest of the lines improved year-on-year • As a result, higher attributable loss YoY

47 Detail by region and country Note: DCB Europe is officially reported as a secondary segment. Nevertheless, its detail is included in the ‘Detail by global business’ appendix within the Digital Consumer Bank explanation and in the Supplementary Information.

48 Highlights Note: Dec-24 data and YoY changes (loans, deposits and mutual funds in constant euros). Europe • We continue to accelerate our business transformation to achieve higher growth and a more efficient operating model • Customers increased across the region (+527k YoY), mainly driven by Spain • New business volumes continued to rise, however loans declined YoY still affected by prepayments. Customer funds up on the back of a strong increase in mutual funds (+19%) • Strong profit growth YoY, supported by NII, especially Retail across most countries on the back of good margin management, and fee growth (mainly mutual funds in Spain). Efficiency gains and active risk management • QoQ profit affected by impacts on fees from CIB performance in Spain (Markets and Corporate Finance) and campaigns in the UK, seasonality in costs and CHF provisions in Poland Key data and P&L Underlying P&L* Q4'24 % Q3'24 2024 % 2023 % 2023¹ NII 4,227 0.2 16,720 3.3 5.1 Net fee income 1,123 -4.0 4,659 4.9 5.9 Total revenue 5,846 -2.0 23,510 8.0 9.7 Operating expenses -2,450 3.5 -9,407 2.8 4.2 Net operating income 3,397 -5.6 14,102 11.8 13.6 LLPs -418 -2.0 -1,862 -27.7 -26.5 Attributable profit 1,615 -12.6 6,644 19.5 21.2 (*) € mn and % change in constant euros. (1) % change in current euros. Loans Deposits Mutual Funds Efficiency CoR RoTE €554bn -2% €627bn -1% €126bn +19% 40.0% -2.