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

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 25
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 gathering strategy, supported by Openbank, and our focus on lowering funding costs and reducing NII volatility across the cycle • Profit affected by the impact of lower fiscal benefits following reduced electric vehicle demand. PBT up 11% YoY, by line: − NII rose across our footprint, mainly in Europe and LatAm, due to margin management and volumes, and the CrediScotia acquisition in Peru − Fees fell as strong growth in US (auto servicing) didn’t offset the impact from insurance regulation in Germany and auto registrations in Europe − Costs up 1% in real terms, supported by savings from our efficiency and transformation efforts, as we continued to invest in our platforms, Openbank and integrated CrediScotia in Peru − LLPs improved, driven by an excellent performance in auto in the US • Strong profit increase QoQ, boosted by NII (margin management), fees and lower LLPs, driven by good underlying trends in the US, portfolio sales in DCBE and DCB US and model updates in Brazil, with flat costs

41Note: Jun-25 data and YoY changes (loans, deposits and mutual funds in constant euros). DCB Europe DCB US Underlying P&L* Q2'25 % Q1'25 H1'25 % H1'24 % H1'24¹ NII 1,129 -0.3 2,350 2.2 1.2 Net fee income 90 14.4 175 34.1 32.8 Total revenue 1,270 0.5 2,631 0.1 -0.9 Operating expenses -520 -2.1 -1,094 1.2 0.2 Net operating income 749 2.4 1,537 -0.7 -1.7 LLPs -466 -4.0 -990 -12.9 -13.8 Profit before tax 265 20.4 501 42.3 40.9 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €142bn +3% Deposits €84bn +10% Mutual funds €5bn +15% Yield on loans 5.79% +8bps Cost of deposits 2.03% -25bps Efficiency 46.9% +0.7pp Loans €48bn -7% Deposits €46bn +11% Mutual funds €4bn +18