Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 442

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 442
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4,961 |     |        | 1,322 |     |        | 20,426 |     |       | 60,153 |     |           | 35,820 |     |       | 137,693 |
| Covered bonds                               |     |       |   993 |     |        | 1,258 |     |        | 1,322 |     |        |   492 |     |        |   356 |     |        | 11,397 |     |       | 22,509 |     |           | 11,880 |     |       |  50,207 |
| Total                                       |     |       | 6,655 |     |        | 6,591 |     |        | 6,880 |     |        | 5,848 |     |        | 3,119 |     |        | 34,397 |     |       | 86,062 |     |           | 73,071 |     |       | 222,623 |

Note: There are no additional guarantees for any of the debt issued by the Group’s subsidiaries.

In addition to M/LT wholesale debt issuances, we have securitizations placed in the market as well as collateralized and other specialist funding totalling EUR 66,971 million (including EUR 12,226 million in debt instruments placed with private banking clients in Brazil). The average maturity was around 1.9 years. This chart shows the similarity of the geographic breakdown of our loans and advances to customers and M/LT wholesale funding across our footprint. This distribution is very similar to 2023.

| Loans and advances to customers and M/LT wholesale funding |
| %. December 2024                                           |

| Europe        |
| North America |
| South America |
| DCB Europe    |

Wholesale funding from short-term issuance programmes is a residual part of Santander’s funding structure, which is related to treasury activities and is comfortably covered by liquid assets. The outstanding short-term wholesale funding balance at the end of 2024 was EUR 38,450 million, of which 54% was in European Commercial Paper, US Commercial Paper and domestic programmes issued by Banco Santander, S.A.; 14% in certificates of deposit and commercial paper programmes in the UK; 19% in Santander Consumer Finance commercial paper programmes; and 13% in issuance programmes in other subsidiaries. Liquidity in 2024 The key liquidity takeaways from