Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000132
Chunk: 22

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 22
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2025, they amounted to EUR 1,230,211 million. The comments below do not include the exchange rate impact (i.e. in constant euros), except for Argentina and any grouping which includes it. For further information, see the ' Alternative performance measures ' section in this report. Compared to June 2025, customer funds including Poland increased 2% in constant euros, with the following detail: • By product, customer deposits excluding repos rose 1%, with growth in time deposits (+5%) while demand deposits were flat. Positive momentum continued in mutual funds (+4%). • By business, customer funds grew in Retail (+2%), CIB (+5%), Wealth ( +4%) and Payments (+11%), which more than offset the decreases in Consumer ( -2%). Compared to September 2024 , customer funds were 7% higher in constant euros: • By product, deposits excluding repos rose 5%, with growth in both demand (+4%) and time deposits (+6%). Widespread growth in mutual funds, increasing 16%. • By business, they rose 6 % in Retail , driven by double-digit growth in mutual funds and a 9% increase in time deposits. They grew considerably in Consumer (+6%), in line with our deposit gathering strategy. They rose 9% in CIB and in Wealth , they were up 11% mainly driven by mutual funds (+ 14 %). Mutual funds grew across all countries. As at end September 2025, customer funds (including Poland) maintained a diversified mix across our footprint, with presence in different countries in Europe (70% of Group's total customer funds), Latin America (22%) and the US (8%). The weight of demand deposits as a percentage of total customer funds was 54%, while time deposits accounted for 25% of the total and mutual funds for 21%. In addition to capturing customer deposits, the Group, for strategic reasons, maintains a selective policy of issuing securities in the international fixed income markets and strives to adapt the frequency

| Customer funds                |
| EUR billion. Including Poland |

| +5% ¹                 |
| +14%                  |
| +2%                   |
| •Total                |
| •Mutual funds         |
| •Deposits excl. repos |
| Sep-25 / Sep-24       |

1. In constant euros: +7%.

and volume of its market operations to the structural liquidity needs of each unit, as well as to the receptiveness of each market In 9M