Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000105
Chunk: 26

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 26
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% Yield on loans 12.00% +54bps Cost of deposits 2.15% +8bps Efficiency 41.6% +0.5pp Underlying P&L* Q2'25 % Q1'25 H1'25 % H1'24 % H1'24¹ NII 1,155 4.1 2,266 3.7 3.6 Net fee income 185 -1.3 372 -17.4 -17.4 Total revenue 1,424 1.8 2,827 -0.9 -0.9 Operating expenses -660 -0.8 -1,326 0.6 0.5 Net operating income 765 4.2 1,500 -2.2 -2.2 LLPs -284 -15.2 -619 5.9 6.0 Profit before tax 371 4.2 727 -3.7 -3.9 (*) € mn and % change in constant euros. (1) % change in current euros. • Loans rose YoY, driven by auto. Double-digit deposit growth (mainly demand deposits), in line with our strategy to increase retail funding • Strong NII performance YoY (margin management and volumes) was offset by lower fees (regulation in Germany and lower activity) and higher LLPs (macro and corporates in Germany), resulting in PBT drop • PBT improved QoQ, on the back of higher NII, lower costs and reductions in LLPs driven by portfolio sales in line with our focus on active risk management and balance sheet optimization • Loan performance YoY reflects our focus on capital-light business and profitability. Deposits up as our branch-based deposits were supported by strong growth in Openbank • PBT up 42% YoY, driven by NII (auto yields and funding optimization), fees (auto servicing) and LLPs (resilient customer behaviour, improved used car prices and stable labour market), with costs under control • Strong PBT growth QoQ, mainly due to higher fees, lower costs (transformation related savings) and better LLPs

42 KEY DATA Corporate & Investment Banking Note: Jun-25 data and YoY changes (loans, deposits in constant euros). P&L HIGHLIGHTS Loans €135bn -2% Deposits €125bn 0% CoR 0.09% -6bps Efficiency 43.7% +0.4