Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000138
Chunk: 31

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 31
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 lender (which alongside the Supreme Court case was highly relevant to the outcome of the FCA’s Review) was discontinued.

On 7 October 2025, the FCA published its proposals for an industry-wide redress scheme under s404 of the Financial Services and Markets Act to compensate motor finance customers and launched a public consultation period. We are reviewing the proposal in detail to understand its potential implications. The deadline for a response on the substantive aspects of the Consultation is 18 November 2025.

Although the FCA expects to publish its policy statement and final rules in early 2026, with the redress scheme to launch the day after the publication of the rules, the final version of the scheme will be dependent on the consideration given to the responses it receives, and its application will be subject to any legal challenges which may ultimately be brought against it as well as by the claims filed by lenders or consumer groups. The FCA’s proposed approach differs in some respects from the Supreme Court’s ruling. There is therefore uncertainty regarding the final scope, methodology and timing of any redress scheme that may ultimately be implemented.

Santander UK is therefore reviewing the potential effects and impact of the above circumstances, although to date and as a consequence of the referred uncertainties, the provision already recognized has not been modified. While the ultimate financial impact of this matter could materially differ from the amount of the provision as of this date, such impact is not expected to be material for the Group as of the date of these interim financial statements.

• Delforca: dispute arising from equity swaps entered into by Gaesco (now Delforca 2008, S.A. (Delforca)) on shares of Inmobiliaria Colonial, S.A. Banco Santander, S.A. is claiming to Delforca before the Court of Barcelona in charge of the bankruptcy proceedings, a total of EUR 66 million from the liquidation resulting from the early termination of financial transactions due to Delforca's non-payment of the equity swaps. In the same bankruptcy proceedings, Delforca and Mobiliaria Monesa, S.A., parent of Delforca (Monesa) have in turn claimed the Bank to repay EUR 57 million, which the Bank received for the enforcement of the agreed guarantee, as a result of the aforementioned liquidation. On 16 September 2021 the Commercial Court Number 10 of Barcelona has ordered Delforca to pay the Bank EUR 66 million plus EUR 11 million in interest and has dismissed the claims filed by