Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000103
Chunk: 54

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 54
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 →Totalassets under managementreached new record levels ofEUR514billion, +11% year-on-year in constant euros, on the back of solid commercial dynamics in both Private Banking and Santander Asset Management and a good market performance. In Insurance,gross written premiumsreachedEUR 5.6 billion, +6% year-on-year in constant euros. 
 →Attributable profit amounted to EUR 948 million, 19% higher year-on-year (+24% in constant euros), with revenue increasing across all business lines and anRoTE (post-AT1) of 67.3%.                                                                                                                                                      |     |                                |     |            |

Strategy

We aim to enhance our Wealth Management & Insurance service model and value proposition through a common global platform that leverages Santander's scale and capabilities. Wealth is an important driver for the Group, delivering consistent double-digit profit growth and generating around one third of the Group's total net fee income, including fees ceded to the commercial network. In recent years, we have been working on building a leading global private banking platform with best-in-class funds and insurance product factories that leverage our global scale and capabilities. We continue to focus on the following strategic initiatives: • In Private Banking (PB) , we continue to consolidate our global position across key markets by reinforcing our value proposition through increased specialization. During Q2 2025, we launched Beyond Wealth, our new Global Family Office service in Spain, addressing the needs of wealthy individuals and institutions, who seek professional and tailored management of their financial, corporate and personal assets. We also continue to expand our global offering, through a dedicated business centre for non-resident clients in Madrid, leveraging our global capabilities. We continue to focus on value-added solutions. Following the launch of our new private assets strategy, supported by a global team that will drive top-tier global and local opportunities tailored to our clients, we successfully completed the second edition of our Global Private Asset Programme, enhancing our teams’ ability to deliver sophisticated solutions in Private Equity, Private Debt and other non-traditional strategies. Additionally, we are evolving our operating model towards a more agile and talent-driven approach while exploring the application of artificial intelligence use cases to enhance productivity and client engagement.

| Private Banking clients |
| Thousands               |

• In Santander Asset Management (SAM) , we operate as a global asset manager leveraging our scale, global investment capabilities and product distribution hubs. We continue progressing with our transformation, aiming to globalize and simplify our asset management business.

In terms of retail distribution