Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 853

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 853
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496 |                |     | — |                                                                             |     |   4,431 |                           |     |      |   2,250 |                           |
| Rest of the World |     |           |     15 |                                                                                                 |     |  3,502 |                  |     |   3,486 |                |     | — |                                                                             |     |   7,003 |                           |     |      |   4,527 |                           |
| Total             |     |           | 35,800 |                                                                                                 |     | 47,490 |                  |     | 115,337 |                |     | — |                                                                             |     | 198,627 |                           |     |      | 160,975 |                           |

1 Risks with domestic public or private borrowers in foreign currency and originated outside the country.

2 Countries that are not considered low risk by Banco de España.

Annual report 2024 810

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

5. Forborne loan portfolio The customer debt redirection policy incorporates the regulatory requirements of the EBA guidelines on the management of non-performing exposures, refinancing and restructuring. This policy acts as a reference for the transposition in our subsidiaries and shares the applicable supervisory expectations. This policy also sets down rigorous criteria for evaluating, classifying and monitoring forbearances to ensure the strictest possible care and diligence in recovering due amounts. Thus, it dictates that Santander must adapt payment obligations to customers' current circumstances. Our forbearance policy also defines classification criteria to ensure Grupo Santander recognizes risks appropriately. They must remain classified as non-performing or in watch-list for a prudential period for reasonable certainty of repayment. In no case will repayments be used to delay the immediate recognition of losses or so that their use distorts the timely recognition of the risk of non-payment. At 31 December 2024, forbearance stock fell again and stood at EUR 27,144million, due to the good payment behaviour in the main geographies. In terms of credit quality, 54% of the loans is classified as credit impaired, with a coverage ratio of 41%. In addition, 46% of the portfolio is classified as p erforming. The following terms are used with the meanings specified below: • Refinancing transaction: transaction that is granted or used, for reasons relating to current or foreseeable financial