Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 11

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 11
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pp                               |
| Payments                                                                                                                                                                                                                                                                                                                                   |     | 5.5     
 +9%     |     | 9%              |     | 45.0%      
 +0.7pp     |     | 0.7A   
 +18%   |     | PagoNxt                              
 EBITDA margin27.5%+2.7pp             |
| Note: YoY changes in constant euros. Contribution to Group revenue as a percentage of total operating areas, excluding the Corporate Centre. Global businesses’ RoTEs are adjusted based on Group’s deployed capital. For more information, see section8 'Alternative performance measures'of the 'Economic and financial review' chapter. 
 A.Payments profit and YoY profit growth exclude the write-downs of our investments related to our merchant platform in Germany and Superdigital in Latin America.                                                                                                                                                                          |     |         |     |                 |     |            |     |        |     |                                      |

Annual report 2024 13

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

#### Retail & Commercial Banking
Delivering operational leverage with a groundbreaking year in our transformation

Note: data and YoY changes in constant euros.

A. Metrics cover all products and employees in the branch network in our 10 main countries.

#### Digital Consumer Bank
Openbank roll out demonstrates the benefits of our strategy to deliver the best solutions to customers and transform our operating model

Note: data and YoY changes in constant euros.

ANEAs: average net earning assets, including renting.

Annual report 2024 14

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

#### Corporate & Investment Banking
Leveraging our strengths to serve our corporate customers and institutions better

Note: data and YoY changes in constant euros.

#### Wealth Management & Insurance
Accelerating our customers’ connectivity with our global product platforms

Note: data and YoY changes in constant euros.
Assets under management includes deposits and off-balance sheet assets. Revenue including ceded fees includes all fees generated by Santander Asset Management and Insurance, even those ceded to the commercial network, which are reflected in Retail’s P&L.

Annual report 2024 15

| Contents |     | Business model and strategy |     | Sustainability statement |