Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 491

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 491
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 |     | 21,439 |     | +10 |            |     |  +8 |
| Expenses                            |     | -9,407 |        |     | -9,030 |     |  +4 |            |     |  +3 |
| Net operating income                |     |        | 14,102 |     | 12,409 |     | +14 |            |     | +12 |
| LLPs                                |     | -1,862 |        |     | -2,533 |     | -26 |            |     | -28 |
| PBT                                 |     | 10,129 |        |     |  8,195 |     | +24 |            |     | +22 |
| Attributable profit                 |     |  6,644 |        |     |  5,482 |     | +21 |            |     | +19 |

Detailed financial information in section 4.5 'Appendix' .

Annual report 2024 453

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

|           |    | Spain |     | Underlying attributable profit |
| EUR 3,762 | mn |       |     |                                |

Business performance During the year, we continued to drive our transformation programme and we maintained the solid trend in customer growth, achieving 40 consecutive months of positive net growth (+285,000 customers in 2024). There were good commercial dynamics, with the focus on profitability. In Retail, new business volumes increased double digits, mainly due to corporate, personal loans and mortgages. We increased our market share in payrolls, pensions and cards and we recorded positive trends in mutual funds and insurance business. In CIB, we consolidated our leadership in the major league tables. Loans and advances to customers increased 3% year-on-year. In gross terms and excluding reverse repos, loans decreased 2%, impacted by SME amortizations, partially offset by growth in CIB and Wealth growth. Customer deposits were flat year-on-year. Excluding repos, they decreased 1%, affected by time deposits, mainly in CIB. Mutual funds increased 20% year-on-year. Results Attributable profit in 2024 reached EUR 3,762 million, 59% higher than in 2023. By line item: • Total income was up 18% propelled by net