Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 28

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 28
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 on the back of solid GM activity in Europe and the US, and fees (+7%) increasing across business lines • In the quarter, profit affected by some seasonality and by the impact of the currency depreciation in Argentina. NII up 3% excluding Argentina (lower funding costs in Global Markets) RoTE post-AT1 19.7% +2.3pp

42 AuMs €536bn +11% Wealth Management & Insurance HIGHLIGHTS Note: Sep-25 data (AuMs); YTD data (net new money, net sales and GWPs). YoY changes in constant euros. (1) Annualized YTD net new money as a % of PB’s 2024 customer assets and liabilities (CAL). Annualized YTD net sales as a % of SAM’s 2024 AuMs. (2) Includes all fees generated by Santander Asset Management and Insurance, even those ceded to the commercial network. P&L KEY DATA GWPs Efficiency 35.9% -1.3pp • We continue to build the best wealth and insurance manager in Europe and the Americas, leveraging our leading global private banking platform and our best-in-class funds and insurance product factories • AuMs reached a new record of €536bn (+11% YoY), backed by solid commercial activity, both in PB and SAM, and a positive market performance. GWPs rose 5% YoY, with a strong performance in the life savings business • Profit increased double digits YoY, supported by solid revenue performances across businesses (fees and revenue from Insurance JVs and from Portfolio Investments), reflecting our focus on fee generating activities • Double-digit growth in total fee contribution2 and total contribution to Group profit2 (+10% and +14% YoY, respectively) • Efficiency improved 1.3pp to 35.9% and RoTE was 66.0% • Profit up 3% QoQ on the back of higher revenue and LLP releases. Costs reflect our investments in transformation and expansion into new markets €8.3bn +5% RoTE post-AT1 66.0% -9.9pp Underlying P&L* Q3'25 % Q2'25 9M'25 % 9M'24 % 9M'24¹ NII 350 -0.1 1,079 -15.4 -16.9 Net fee income 415 -1.2 1,257 18.7 15.4