Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 804

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 804
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 Corporate Finance) and 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) and the insurance business (Santander Insurance). • Payments: digital payments solutions, providing global technology solutions for our banks and new customers in the open market. It is structured in twobusinesses: PagoNxt (Getnet, Ebury and PagoNxt Payments) and Cards (cards platform and business in the countries). In addition to these operating units, both primary and secondary, Grupo Santander continues to maintain the area of Corporate Centre, that includes the centralized activities relating to equity stakes in financial companies, financial management of the structural exchange rate position, assumed within the sphere of Grupo Santander’s assets and liabilities committee, as well as management of liquidity and of shareholders’ equity via issuances. As Grupo Santander’s holding entity, this area manages all capital and reserves and allocations of capital and liquidity with the rest of businesses. It also incorporates amortization of goodwill but not the costs related to the Grupo Santander’s central services (charged to the areas), except for corporate and institutional expenses related to the Grupo Santander’s functioning. There are no customers located in any of the areas that generate income exceeding 10% of Total income.

Annual report 2024 772

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

The main masses of the balance sheets of the different segments, summarized, are indicated below:

| EUR million                            |     |      |         |                             |     |         |                       |     |         |                                |     |         |                               |     |        |          |     |       |                  |     |           |       |
|                                        |     | 2024 |         |                             |     |         |                       |     |         |                                |     |         |                               |     |        |          |     |       |                  |     |           |       |
| Balance sheet (condensed)              |     |      |         | Retail & Commercial Banking |     |         | Digital Consumer Bank |     |         | Corporate & Investment Banking |     |         | Wealth Management & Insurance |     |