Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000105
Chunk: 22

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 22
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2,398 5.2 6.7 Net fee income 2 -54.1 7 — — Total revenue 1,149 -1.9 2,339 3.7 5.2 Operating expenses -628 0.0 -1,266 -3.5 -2.1 Net operating income 521 -4.0 1,072 13.7 15.3 LLPs -44 24.4 -80 298.6 304.4 Profit before tax 330 -3.6 678 -12.9 -11.7 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €159bn -2% Deposits €224bn +4% Mutual funds €47bn +14% Yield on loans 3.69% -41bps Cost of deposits 0.51% -16bps Efficiency 32.0% +0.7pp Loans €223bn -2% Deposits €206bn -1% Mutual funds €6bn -2% Yield on loans 4.13% +27bps Cost of deposits 1.93% -23bps Efficiency 54.1% -4.0pp • YoY performance in loans and deposits reflects our focus on balance sheet optimization • NOI +14% YoY boosted both by NII (higher yields and lower cost of deposits), fees and lower costs. PBT affected by LLP normalization and charges related to our transformation • PBT affected QoQ by the impact of lower interest rates on NII and the aforementioned LLP normalization, with flat costs • Loans reflect our focus on active risk management and balance sheet optimization and were affected by prepayments. Deposits up 4% YoY, mainly driven by demand deposits. Mutual funds rose double digits • Strong PBT growth YoY supported by solid underlying LLP trends and our active risk management that improves credit quality and favoured by the temporary levy charged in full in Q1’24 • PBT up 3% QoQ on the back of better credit quality and cost reductions, which more than offset pressure on NII

39Note: Jun-25 data and YoY changes (loans, deposits and mutual funds in constant euros). RETAIL MEXICO RETAIL BRAZIL Underlying P&L* Q2'25 % Q1'25 H1'25 % H1'24 % H1'24¹ NII 735 0.1