Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000130
Chunk: 6

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 6
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 improved profitability, with RoTE of 19.7% post-AT1, compared to 17.4% a year earlier, while maintaining a leading efficiency ratio of 44.9%. Wealth Management & Insurance, which includes the group’s private banking, asset management or insurance businesses, increased its attributable profit by 21% to €1,439 million, with revenue growth across all business lines. Assets under management (AuMs) reached a new record of €536 billion (+11%), supported by very strong commercial activity in both Private Banking (+7% in customers) and Santander Asset Management (+12% in AuMs), as well as positive market performance. Payments generated an attributable profit of €558 million, up 62% even after excluding the charges recorded in the second quarter of 2024 related to the discontinuation of certain platforms in Germany and Latin America. The increase was driven by solid revenue performance, supported by higher activity. In PagoNxt, Getnet’s total payments volume (TPV) rose 15% to €174 billion, while the number of transactions increased 8%. In Cards, spending rose 8% to €250 billion and transactions increased 5%. Higher activity in PagoNxt and Cards positions the business firmly on track to deliver on Santander’s key strategic priorities, capturing scale through global platforms and achieving, for example, cost-per-transaction improvements in PagoNxt (-31% to 2.4 euro cents). Banco Santander is one of the largest banks in the world, with 201,000 employees serving 178 million customers and 3.5 million shareholders, and a market capitalization of €132 billion at the end of September. 1 Reconciliation of underlying results to statutory results, available in the ‘Alternative Performance Measures’ section of the financial report at CNMV and at santander.com. 2 As previously announced, Santander intends to allocate at least €10bn to shareholder remuneration in the form of share buybacks, corresponding to the 2025 and 2026 results, as well as to the expected excess capital. This share buyback target includes: (i) buybacks that are part of the existing shareholder remuneration policy outlined below, and (ii) additional buybacks following the publication of annual results to distribute year-end excesses of CET1 capital. The current remuneration policy for the 2025 results, which the board intends to apply, will remain the same as for the 2024 results,