Company: BCDRF
Filing Date: 2025-02-05
Form Type: 6-K
Source: 0000891478-25-000035
Chunk: 24

Company: Banco Santander, S.A.
Filing Date: 2025-02-05
Form: 6-K
Chunk 24
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 YoY, especially in Global Banking and Global Markets: - Global Transaction Banking (GTB): strong activity in Export Finance and, to a lesser extent, in Trade & Working Capital Solutions. Cash Management impacted by lower interest rates - Global Banking (GB): significant growth in Corporate Finance and DCM, with market share gains across regions - Global Markets (GM): strong activity levels in Europe and the US, while LatAm markets were more challenging, though improved in H2 • Deposit performance in line with our strategy to reduce excess corporate deposits • Record revenue and profit, growing double-digits YoY, backed by all business lines. We maintained a leading position in efficiency and profitability even after our investments for growth • Profit up QoQ supported by strong GB activity in NII and fees as well as lower tax burden, which more than offset seasonality in costs and in revenue in Markets. Results affected by updated Argentina FX rate Note: Dec-24 data and YoY changes (loans and deposits in constant euros).

44 Wealth Management & Insurance Note: Dec-24 data (AuMs); FY'24 data (net new money, net sales and GWPs). YoY changes in constant euros. (2) Considering annualized net new money as a % of total CAL and net sales as a % of SAM’s AuMs. (3) Including fees generated by asset management and insurance ceded to the commercial network. Highlights P&L Key data of volumes2 of volumes2• 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 new record levels of c.€500bn (+13% YoY), backed by excellent commercial dynamics, both in Private Banking and SAM • Profit increased double-digits YoY, supported by strong revenue growth, with positive interest margin management in PB and double-digit fee growth across business lines. Total contribution to Group profit3 increased 12% YoY • As a result, efficiency improved 2pp to 35.9% and RoTE rose 7pp to 79% • QoQ profit impacted by lower interest rates and higher costs, due to investments in growth initiatives and seasonality, partially offset by good fee performance €498bn +13% €18.6bn 6% €15.8bn 7% €11.5bn -9% 35.9% -2.0pp 78.7% +6.5