Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 488

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 488
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      |     |       +229 |

Detailed financial information in section 4. 5 'Appendix' .

Cards Business performance We recorded good activity levels in the year, resulting in 9% card turnover growth year-on-year in constant euros, especially credit cards (+14% in constant euros), with most countries at record levels. The number of transactions rose 8% year-on-year, boosted by a larger card pool and increased card usage across all transaction sizes. Loans and advances to customers increased 4% year-on-year. In gross terms, excluding reverse repos and in constant euros, they rose 16%, driven mainly by Brazil and Mexico.

| Cards. Activity. Turnover                 |
| EUR billion and changes in constant euros |

| +9% |

Results In 2024, attributable profit was EUR 712 million, 4% higher compared to 2023. In constant euros, profit rose 10%, by line item: • Total income increased 7%. Net interest income improved (+11%) mainly due to higher volumes in Latin America, which offset the fall in net fee income (-5%) affected by customer retention campaigns in Mexico, a regulatory impact in Chile and a one-time positive fee recorded in Q1 2023 in Brazil. • Administrative expenses and amortizations rose 7% driven mainly by our investments in platforms. • Net loan-loss provisions rose 9%, below portfolio growth. • Other gains (losses) and provisions recorded a EUR 50 million loss compared to a EUR 42 million loss in 2023. In 2024, RoTE in Cards was 32.6% (35.5% in 2023).

| Cards. Underlying income statement |     |        |     |       |        |     |    |      |     |            |
| EUR million and % change           |     |        |     |       |        |     |    |      |     |            |
|                                    |     |        |     |       |        |     |  / | 2023 |     |            |
|                                    |     |   2024 |     |  2023 |        |     |  % |      |     | % excl. FX |
| Revenue                            |     |  4,265 |     | 4,158 |        |     | +3 |      |     |         +7 |
| Expenses                           |     | -1,315 |     |       | -1,253 |     | +5