Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000080
Chunk: 24

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 24
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 funds rose double digits • Net operating income flat YoY as higher revenue (mainly insurance and mutual fund fees) was offset by costs growing below inflation. PBT affected by LLPs (individuals) • PBT QoQ affected by impact of negative interest rate sensitivity on NII, partially offset by higher fees, lower costs and better LLPs • Loans increased YoY across products, notably mortgages. Deposits rose (especially demand deposits) and mutual funds up double digits • PBT +23% YoY driven by NII (volumes and lower deposit costs), fees (insurance and mutual funds) and lower LLPs (better credit quality) • PBT up 8% QoQ due to strong fee growth (mutual funds) and lower costs, which more than offset LLP increase from low levels

41 KEY DATA Digital Consumer Bank Note: Mar-25 data and YoY changes (new lending, loans and deposits in constant euros). P&L HIGHLIGHTS Underlying P&L* Q1'25 % Q4'24 % Q1'24 % Q1'24¹ NII 2,756 -2.2 1.8 1.7 Net fee income 339 -14.3 -2.7 -4.2 Total revenue 3,234 -3.6 1.7 1.6 Operating expenses -1,357 4.6 2.8 3.5 Net operating income 1,878 -8.8 1.0 0.2 LLPs -1,119 -11.3 -0.9 -1.6 Attributable profit 492 229.7 6.3 6.1 (*) € mn and % change in constant euros. (1) % change in current euros. New lending €21bn -6% Loans €214bn +4% Efficiency 41.9% +0.8pp CoR 2.14% +1bps RoTE post-AT1 9.7% -0.6pp Deposits €133bn +12% • Progressing in our priority to become the preferred choice of our partners and customers while being the most cost competitive player in the industry • Loans up 4%, driven by growth across our footprint in auto lending (+6%), in a market that picked up in Q1’25 from a weak start in January 2025 • Deposits rose 12%, up both in Europe and the US, supported by Open