Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000132
Chunk: 58

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 58
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, Portugal and Argentina. As part of our strategy to promote the use of credit cards ( debit-to-credit strategy) , we launched Pay Smarter, an initiative aimed at enhancing the security, control and benefits of credit card usage. We launched it in the UK, Argentina, Mexico, Chile and Portugal (having already launched it in Spain in Q2), and we expect to reach all our markets this year. • Improve customer satisfaction, offering global solutions to facilitate the use of our cards, increase the security of our products and handle all transactions digitally. For example, the centralized management of tokenized payments, roll out of Click to Pay across some of our markets, incident management from digital channels and enrolment in Apple Pay, now available in all our countries after implementing it in Uruguay this quarter.

• Implement our global card platform (Plard) , which currently manage more than 20 million debit cards in Brazil, and is capturing new debit card sales to individuals in Chile. In Mexico, the new authorizer processes more than 170 million transactions per month and we are testing its implementation in Spain and the UK. Business performance Gross loans and advances to customers, excluding reverse repos and in constant euros, rose 14% driven mainly by higher volumes in Cards, especially in Brazil, Argentina, the UK and Spain. Payments has a very small amount of deposits, concentrated in PagoNxt. These deposits (excluding repos) amounted to EUR 1,162 million, +15% year-on-year in constant euros. Results Attributable profit was EUR 558 million in 9M 2025, compared with a profit of EUR 151 million in 9M 2024. This year-on-year comparison was favoured by charges recorded in Q2 2024 related to the discontinuation of some platforms. Excluding them, profit rose 62% year-on-year in constant euros, by line: • Total income grew 19%, boosted by double-digit growth in net interest income and net fee income driven by increased activity. • Costs rose 3% but they decreased 1% in real terms, supported by the savings generated from the use of our platforms in PagoNxt. • Net loan-loss provisions, mainly related to Cards, rose 29%, due to strong generalized loan growth and model changes and updates, in a less favourable macro environment in some of our countries. Compared to Q2 2025 , profit grew 7% in constant euros as the good performances in fees and gains on financial transactions and lower costs,