Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 42

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 42
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 partnerships with new entrants in Europe. In the US, we remained disciplined in our pricing and capital stewardship to drive growth, diversify originations channels and optimize profitability across the full credit spectrum while balancing cost of risk. In Latin America, we remained #1 in new vehicle financing across our footprint as we continued to focus on developing strategic alliances.

• In the consumer lending business (non-auto), Zinia continued progressing with strong partnerships. For example, we launched the Amazon co-branded card in Austria. In Peru, we finalized the acquisition of CrediScotia. • As part of our profitable growth strategy, we continued to boost customer deposit gathering (more than EUR 2 billion of deposits captured in Europe since the end of 2024), as a result of our focus on managing deposit remuneration, since it has a significant impact on our competitiveness and is a more stable source of funding. We also actively managed our balance sheet to make it more capital light. In addition to the successful launch in the US in Q4 2024, this quarter we launched Openbank in Mexico with a full value proposition to compete with other neobanks and we opened a new branch in Germany. The purpose of this expansion is to fund asset growth and capture synergies, while we continue to upgrade our customer proposition and experience. In the US, Openbank had a solid performance in the quarter, both in terms of customers captured and in terms of deposit volumes, and we announced a multi-year partnership with Verizon, starting in April, to offer its customers high-yield savings accounts.

| Consumer. Total customers |
| Millions                  |

| +3% |

| 34 |     | January- March2025 |

| Key consolidated data 
 Business model        |     | Group financial information |     | Financial information by segment |     | Sustainability       
 Corporate governance |     | Appendix |     | Index |

Business performance The new lending performance (-6% year-on-year) reflects our strategy to prioritize profitability over growth, in an environment of some volatility and geopolitical uncertainty. The stock of loans and advances to customers rose 3% year-on-year. In gross terms, excluding reverse repos and in constant euros, they were 4% up year-on-year (driven by auto), with good performances in DCB Europe and Brazil, in a market that is picking up from a weak start in January 2025. We have a EUR 16 billion leasing portfolio, which decreased 8% year-on-year in constant euros, as growth in Europe was