Company: BCDRF
Filing Date: 2025-02-05
Form Type: 6-K
Source: 0000891478-25-000031
Chunk: 7

Company: Banco Santander, S.A.
Filing Date: 2025-02-05
Form: 6-K
Chunk 7
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 4%, with deposits growing by 3% and mutual funds by 19%. The bank continued to simplify its product portfolio (-39% this year) and 62% of products are now digitally available. Digital Consumer Bank’s attributable profit was €1,663 million, 12% lower due primarily to the additional provisions for Swiss franc mortgages in Poland and for potential complaints related to motor finance dealer commissions in the UK, announced at the end of 2024. The business saw strong top line performance, with net interest income up 6% and net fee income growing at double-digit rates (+24%), combined with disciplined cost control (-1%). This resulted in an efficiency improvement of close to three percentage points. Loans increased 4%, with solid growth across most markets, and deposits rose 10%, in line with the bank’s strategy to reduce funding costs and net interest income volatility through the interest rate cycle. The business launched Openbank in the US and Mexico in the last quarter of 2024 as part of its transformation, while it reached agreements with Apple and Amazon through its digital consumer finance platform Zinia. In the US, Openbank is off to a strong start with over €2 billion raised. CIB reported an all-time high attributable profit of €2,740 million (+16%) on the back of double-digit growth in net interest income and net fee income, both reaching record levels, driven by all business lines. This more than offset higher costs related to the investment in new capabilities, maintaining a leading position in efficiency and profitability 6 Targets market dependent. Based on macro assumptions aligned with international economic institutions. CET1 ratio phased-in CRR3. (1) YoY change in constant euros, except Argentina in current euros. (2) Fully-loaded definition as of 1 January 2025.

Corporate Communications Ciudad Grupo Santander, edificio Arrecife, planta 2 28660 Boadilla del Monte (Madrid) comunicacion@gruposantander.com www.santander.com - Twitter: @bancosantander 5 among its peers. Strong activity year-on-year across the board, particularly boosted by growth initiatives in Global Banking and Global Markets. Wealth Management & Insurance, comprising the group’s private banking, asset management and insurance businesses, increased its attributable profit 14% to €1,650 million, benefitting from positive net interest income and net fee income performance across the board. This was reflected in widespread revenue growth across businesses: Private Banking (+14%), Santander Asset Management (+23