Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 16

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 16
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6% 41.8% 41.6% +5% In real terms In real terms -1% +3%

22 • Credit quality improvement YoY, on the back of our active risk management, low unemployment rates and easing monetary policies in most countries • CoR down 5bps YoY, supported by most of our businesses • NPL ratio of 2.92%, better YoY as we execute our NPL reduction strategy. NPL coverage and stages improved YoY • In Retail, which represents c.45% of Group LLPs, CoR improved YoY and was stable QoQ at 0.89%, with good performances across our main countries: − In Spain, CoR improved YoY, with good underlying trends, in line with our active risk management to improve credit quality − The UK’s CoR was stable at very low levels − Mexico’s CoR improved YoY. Quarter impacted by model updates in the payroll portfolio and higher SME provisions − Brazil improved even in a context of higher interest rates and inflation • In Consumer, which represents c.35% of Group LLPs, CoR improved YoY and QoQ to 2.06%, driven by resilient customer behaviour, used car prices stable at high levels and capital relief measures in the US and provision model updates in Brazil 2,871 2,908 2,908 3,061 3,083 3,052 2,973 Q1'24 Q2 Q3 Q4 Q1'25 Q2 Q3 Sound credit quality with improvement across most of our businesses Note: CoR - provisions to cover losses due to impairment of loans in the last 12 months / average customer loans and advances of the last 12 months. Data in constant euros. CoR, NPL, Coverage ratio and Stages in current euros. CoR 12 month LLPs CREDIT QUALITY DETAIL BY BUSINESS LLPs AND CREDIT QUALITY Constant € mn Sep-24 Jun-25 Sep-25 NPL ratio 3.06% 2.91% 2.92% Coverage ratio 64% 67% 67% Stage 1 €1,008bn €989bn €1,005bn Stage 2 €87bn €85bn €86bn Stage 3 €36bn €33bn €34bn OTHER CREDIT QUALITY METRICS 1.20% 1.21% 1.18% 1.15% 1.14