Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 52

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 52
---
 financial transactions declined, mainly driven by DCBE, while leasing income also fell, due to lower volumes, residual values and gains on sales, particularly in the US.

| Consumer. Total income.H1 2025                 |
| EUR million and YoY % change in constant euros |

| DCB Europe |
| DCB US     |
| Other      |

|     | Var |
| -1  | %   |
| 0   | %   |
| +15 | %   |

• Costs increased 3% year-on-year. In real terms, they rose just 1%, supported by savings from our efficiency and transformation efforts, particularly in Europe and the US, as we continued to invest in our leasing and check-out lending platforms, Openbank and CrediScotia's integration in Peru. • Net loan-loss provisions fell 3%, mainly driven by an excellent performance in auto in the US, which more than offset a pick up in Europe (mostly due to the macro environment and corporates in Germany), Mexico (volumes and model updates) and Peru (CrediScotia). Credit quality remained controlled with the cost of risk at 2.09% and the NPL ratio at 4.97%. • Other gains (losses) and provisions registered a lower loss in H1 2025, compared to the same period in 2024, mainly due to the temporary levy on revenue earned in Spain recorded in Q1 2024. • The effective tax rate normalized, as a decline in electric vehicle leasing volumes in the US this year resulted in lower benefits from fiscal incentives. As a result of the aforementioned performance, RoTE (post-AT1) stood at 10.4% in H1 2025. Compared to Q1 2025, attributable profit increased 16% in constant euros, on the back of continued strength in net interest income, in line with our focus on margin management, better net fee income, lower net loan-loss provisions (mainly supported by model updates in Brazil and portfolio sales) and stable costs.

| Consumer. Underlying income statement       |     |        |       |     |     |       |     |          |     |        |       |     |    |       |     |          |
| EUR million and % change                    |     |        |       |     |     |       |     |          |     |        |       |     |    |       |     |          |
|                                             |     |        |       |