Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 842

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 842
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 to EUR 13million. In recent years, the Group has considered foreclosure to be an option to resolve cases of default instead of legal proceedings. The Group initially recognises foreclosed assets at the lower of the carrying amount of the debt (net of provisions) and the fair value of the foreclosed asset (less estimated costs to sell). Subsequent to initial recognition, the assets are measured at the lower of fair value (less costs to sell) and the amount initially recognised. The fair value of this type of assets is determined by the market value (appraisal) adjusted with discounts obtained according to internal valuation methodologies based on the entity's sales experience in goods with similar characteristics. The management of real estate assets on the balance sheet is carried out through companies specializing in the sale of real estate that is complemented by the structure of the commercial network. The sale is realised with at prices in accordance with the market situation and the offer of wholesale buyers.

The gross movement in foreclosed properties were as follows (EUR billion):

|                 |     | EUR Billion |      |      |     |      |      |     |      |      |
|                 |     |             |      | 2024 |     |      | 2023 |     |      | 2022 |
| Gross additions |     |             |  0.1 |      |     |      |  0.3 |     |      |  0.2 |
| Disposals       |     |             |      | -0.8 |     |      | -1.2 |     |      | -1.3 |
| Difference      |     |             | -0.7 |      |     | -0.9 |      |     | -1.1 |      |

Annual report 2024 802

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

Information on the estimation of impairment losses The detail of Santander Spain exposure and loan-loss reserves associated with each of the stages at 31 December, 2024, 2023 and 2022, is shown below. In addition, the exposure is divided in fourtranches of the Standard & Poor's rating scale, according to their current credit quality:

| Exposure and loan-loss reserves by stage |     |      |         |         |     |        |         |     |       |         |     |         |       |
| EUR million                              |