Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000111
Chunk: 65

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 65
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 also actively manage interest rate risk to dampen the impact of interest rate changes on net interest income, conducted via high credit quality, very liquid and low capital consumption derivatives.

• Strategic management of exposure to exchange rates in equity and dynamic management of the FX hedges related to the units’ next twelve months results in euros. The net investments in equity currently hedged totalled EUR 17,158 million (mainly in the UK, Mexico and Chile) with different FX instruments (spots and forwards). • Management of total capital and reserves: capital analysis, adequacy and management of the Group including: coordination with subsidiaries, monitoring profitability to maximize shareholder returns, setting solvency targets and capital contributions, and monitoring the capital ratio in both regulatory and economic terms, and efficient capital allocation to the units. Results In H1 2025 , the attributable loss was EUR 713 million, a 17% greater loss than in H1 2024 (EUR 609 million loss), with the following performance by line: • Net interest income declined EUR 132 million as lower interest rates impacted the balance sheet which has positive sensitivity to rate rises. • Losses on financial transactions improved EUR 141 million, due to a lower impact from foreign currency hedges. • Costs increased EUR 11 million due to higher IT expenses. • Net loan-loss provisions increased year-on-year reflecting our strategy to accelerate NPL ratio reductions, improving the Group's credit quality. • Other results and provisions were 7% lower year-on-year.

| Corporate Centre. Underlying income statement |     |      |       |     |      |       |     |        |     |      |       |     |      |       |     |        |
| EUR million and % change                      |     |      |       |     |      |       |     |        |     |      |       |     |      |       |     |        |
|                                               |     |      | Q2'25 |     |      | Q1'25 |     | % chg. |     |      | H1'25 |     |      | H1'24 |     | % chg. |
| Total income                                  |     | -135 |       |     | -215 |       |     |    -37 |     | -351 |       |     | -350 |       |     |      0 |
| Net operating income                          |     | -232 |       |     | -303 |       |     |    -23 |     |