Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000084
Chunk: 46

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 46
---
 Grupo Santander made changes to the composition of its primary segments, as well as to the criteria for allocating profit among them, as follows:

• To better align reporting with the changes to the management structure in Wealth Management & Insurance, investment platforms (Investment Platforms Unit) and certain stakes in companies, mainly in the real estate sector, that were previously recorded in Retail and Commercial Banking or Corporate and Investment Banking have been incorporated into Wealth Management & Insurance.

• Profit sharing criteria between Retail & Commercial Banking and Cards has been improved, aligning criteria across the Group.

• Additionally, it has been completed the usual annual adjustment of the perimeter of the Global Customer Relationship Model between Retail & Commercial Banking and Corporate & Investment Banking and between Retail & Commercial Banking and Wealth Management & Insurance.

The Group's main level of segmentation, derived from its management model, consolidates the Group's businesses under five business areas:

• Retail & Commercial Banking (Retail): area that integrates the retail banking business and commercial banking (individuals, SMEs and corporates), except for private banking clients and for business originated in the consumer finance and the cards businesses. Detailed financial information is provided for Spain (Retail Spain), the United Kingdom (Retail United Kingdom), Mexico (Retail Mexico) and Brazil (Retail Brazil), which represent the majority of the total Retail business.

• Digital Consumer Bank (Consumer): comprises all business originated in the consumer finance companies, plus Openbank, Open Digital Services (ODS) and SBNA Consumer. Detailed financial information is provided for Europe and UU.EE.

• Corporate & Investment Banking (CIB): this business, which includes Global Transactional Banking, Global Banking (Global Debt Finance and Corporate Finance) and Global Markets, offers products and services on a global scale to corporate and institutional customers, and collaborates with other global businesses to better serve our broad customer base.

• Wealth Management & Insurance (Wealth): includes the corporate unit of Private Banking and International Private Banking in Miami and Switzerland (Santander Private Banking), the asset management business (Santander Asset Management), the insurance business (Santander Insurance) and investment platforms (the new vertical, Portfolio Investments).

• Payments: digital payments solutions, providing global technology solutions for the banks and new customers in the open market. It is structured in two businesses: PagoNxt (Getnet, Ebury and PagoNxt Payments) and Cards (cards platform and business in the countries where Group operates).

In accordance with the information used by the Group's executive committee for decision making, following