Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000132
Chunk: 15

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 15
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 total income rose 4% year-on-year, as follows: • Net interest income (NII) performed well, with a 2% increase year-on-year despite a less favourable interest rate environment, particularly in Argentina. Excluding Argentina, NII rose 3%. By business: • In Retail , NII decreased 1%. Excluding Argentina, it rose 1%, due to good performances in Chile (lower cost of deposits), Mexico (volumes and lower cost of deposits) and the UK (higher mortgage lending profitability and lower cost of deposits). • In Consumer, NII rose 6% supported by our good margin management across our main markets and also by higher volumes in DCB Europe and Latin America in addition to the CrediScotia acquisition in Peru. • In CIB , NII also increased 7%, even with a negative impact from Argentina. Excluding it, NII grew 16% driven by a strong increase in activity and lower funding costs in Global Markets. • In Wealth , NII declined 15%, affected by some deposit cost inelasticity to interest rate declines and by the lower yield on assets, despite higher volumes in Private Banking. • In Payments , NII rose 23%, with doubled-digit growth in both PagoNxt and Cards, boosted by higher activity.

| Net interest income |     |                |
| EUR million         |     |                |
|                     |     | constant euros |

• Net fee income grew 8% year-on-year driven by widespread growth across all businesses, except Consumer. By business: • In Retail , net fee income increased 5%, supported mainly by mutual funds, foreign exchange fees and insurance. • In Consumer , net fee income fell 2%, despite strong growth in the US and positive trends across Latin America, mainly due to DCB Europe, which was impacted by new insurance regulation in Germany and weaker trends in new car registrations, especially in H1 2025. • In CIB , it increased 7%, driven by Global Transaction Banking (GTB) and Global Banking (GB) in the US, boosted by our US Banking Build-Out (US BBO) initiative. • In Wealth , net fee income rose 19%, with strong growth in Private Banking and SAM driven by solid commercial activity, a positive market performance and our focus on promoting fee-generating products . • In Payments , net fee income rose 16% boosted by higher activity (both PagoNxt and Cards). This net fee income growth was higher than