Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 15

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 15
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 environment, but fell 2% year-on-year mainly due to the strong impact of the interest rate decline in Argentina. Excluding Argentina, NII rose 4%. By business: • In Retail (-2%), NII performance reflected the impact of Argentina, where interest rates reached their lowest levels since 2018. Excluding it, NII rose 4%, due to good performances in Chile, the UK, Mexico and Poland. • In Consumer, NII rose 2% supported by our good margin management and also by volumes growth in DCB Europe. • In CIB , NII decreased 5%, mainly due to the impact from Argentina. Excluding it, NII grew 12% driven by the strong increase in Global Markets. • In Wealth , NII declined 16%, especially in Private Banking, impacted by the less favourable interest rate environment, despite higher volumes. • In Payments , NII rose 15 %, with growth in both Cards, mainly in Mexico and Brazil due to volumes increase, and PagoNxt, due to higher activity.

| Net interest income |     |                |
| EUR million         |     |                |
|                     |     | constant euros |

• Net fee income grew 9% year-on-year driven by widespread growth across all businesses except Consumer. By business: • In Retail , net fee income increased 7%, supported by insurance, mutual funds and transactional fees. • In Consumer , net fee income fell 3%, despite strong growth in the US (auto fees), mainly due to DCB Europe, which was impacted by new insurance regulation in Germany. • In CIB , it increased 11%, driven by the three business lines, especially due to Global Transaction Banking (GTB) and Global Banking, backed by our US Banking Build-Out (US BBO) initiative. • In Wealth , net fee income rose 16%, with strong growth in Private Banking and Asset Management due to good commercial activity. • In Payments , net fee income rose 13% boosted by both PagoNxt (Ebury and Getnet) and Cards (driven by interchange fees in Latin America).

This positive net fee income performance keeps us on track to achieve our mid-high single digit growth target for 2025.

| Net fee income |     |                |
| EUR million    |     |                |
|                |     | constant euros |

• Gains on financial transactions rose 11%, boosted by higher results in Retail, mainly due to Brazil and Spain, and the