Company: BCDRF
Filing Date: 2025-01-02
Form Type: 6-K
Source: 0000891478-25-000002
Chunk: 18

Company: Banco Santander, S.A.
Filing Date: 2025-01-02
Form: 6-K
Chunk 18
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188 million, respectively. In addition, during the first nine months of 2024 EUR 301 million (EUR 333 million during the first nine months of 2023) were recognized for losses in the income statement due to renegotiation or contractual modifications mainly due to the CHF mortgage portfolio in Poland. Considering these amounts, the recorded impairment of financial assets at amortised cost is EUR 9,517 million and EUR 9,457 million during the first nine months of 2024 and 2023, respectively.

c) Impaired assets of financial assets at amortised cost portfolio

The movement during the nine-month periods ended 30 September 2024 and 2023, in the balance of financial assets classified at amortised cost and considered impaired by reason for the credit risk is as follows:

|                                   |     | EUR million |         |     |            |         |
|                                   |     | 30-09-2024  |         |     | 30-09-2023 |         |
| Balance as at beginning of period |     |             |  34,363 |     |            |  33,269 |
| Net additions                     |     |             |  11,333 |     |            |  10,392 |
| Written-off assets                |     |             | -10,065 |     |            | -10,048 |
| Perimeter Changes                 |     |             |      17 |     |            |     -59 |
| Exchange differences and other    |     |             |  -1,151 |     |            |     631 |
| Balance at end of period          |     |             |  34,497 |     |            |  34,185 |

This amount, after deducting the related allowances, represents Grupo Santander's best estimate of the discounted value of the flows that are expected to be recovered from the impaired assets.

| January - September 2024 |     | 21 |

d) Fair value of financial assets not measured at fair value

Following is a comparison of the carrying amounts of Grupo Santander’s financial assets measured at other than fair value and their respective fair values at 30 September 2024 and 31 December 2023:

|                    |     | EUR million |           |     |       |           |     |            |           |     |       |           |
|                    |     | 30-09-2024  |           |     |       |           |