Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000105
Chunk: 31

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 31
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 LLPs -295 -2.6 -599 -9.0 Attributable profit 1,111 -3.1 2,258 28.6 (*) € mn and % change. Underlying P&L* Q2'25 % Q1'25 H1'25 % H1'24 % H1'24¹ NII 1,244 -2.6 2,543 5.2 6.8 Net fee income 84 3.8 166 15.1 16.8 Total revenue 1,302 -1.3 2,642 3.5 5.0 Operating expenses -707 -0.2 -1,427 -3.1 -1.7 Net operating income 594 -2.7 1,215 12.4 14.1 LLPs -60 16.3 -113 81.0 83.6 Attributable profit 276 -1.6 560 -12.3 -11.1 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €232bn -1% Deposits €306bn +3% Mutual funds €99bn +15% Efficiency 34.0% -0.0pp CoR 0.47% -9bps RoTE post-AT1 25.3% +5.7pp Loans €229bn -2% Deposits €216bn -2% Mutual funds €8bn 0% Efficiency 54.0% -3.7pp CoR 0.05% -4bps RoTE post-AT1 8.9% -1.4pp • YoY loan performance reflects our focus on balance sheet optimization. Deposits dropped slightly in a context of lower interest rates • Net operating income +12% YoY, on the back of strong NII (margin management) and fees with lower costs (transformation), not reflected in profit due to LLP normalization and restructuring charges • Profit QoQ affected by the impact of lower interest rates on NII and the aforementioned LLP normalization, with flat costs • Loans reflect our focus on active risk management and balance sheet optimization and prepayments. Deposit growth driven by demand deposits. Mutual funds up double digits • Profit rose double digits YoY driven by revenue, solid underlying LLP trends and our active risk management that improves credit quality, with lower NII (interest rates) and costs growing below inflation • Strong positive