Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 453

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 453
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 2024 were 9.6% for the CET1 ratio and 13.9% for the total capital ratio. Our capital requirements increased in 2024 compared to 2023 due to: • a higher D-SIB requirement driving an increase in the D-SIB/G-SIB requirement from 1% to 1.25% due to: i) a methodological change by the ECB which was later adopted by Banco de España; and ii) because institutions must hold capital at the consolidated level for the higher of the G-SIB (currently at 1%) and D-SIB requirements; • the ECB's revision of Banco Santander, S.A.'s P2R requirement from 1.58% to 1.74% (mainly due to a change in the ECB's methodology); • higher countercyclical buffer requirements by the competent authorities in the countries in which we operate (+0.02 pp); and • and a new systemic risk buffer (0.03 pp). At year end, the phased-in CET1 ratio was 12.8%, resulting in a CET1 management buffer of 313 bps. This shows our ability to generate capital organically, our solid position to be able to pay dividends and our strong capital management. The total phased-in capital ratio was 17.4%. Taking into account the shortfall in AT1, Santander exceeded the 2024 minimum regulatory requirements (i.e. distance to the maximum distributable amount - MDA) by 297 bps. The phased-in leverage ratio stood at 4.78%. A. Countercyclical buffer. B. Systemic risk buffer. C. Global systemically important banks (G-SIB) buffer. D. Capital conservation buffer.

| Regulatory capital (phased-in). Flow statement              |     |         |      |
| EUR million                                                 |     |         |      |
|                                                             |     |         | 2024 |
| Capital Core Tier 1 (CET 1)                                 |     |         |      |
| Starting amount (31/12/2023)                                |     |  76,741 |      |
| Shares issued in the year and share premium                 |     |  -4,810 |      |
| Treasury shares and own shares financed                     |     |   1,153 |      |
| Reserves                                                    |     |    -419 |      |
| Attributable profit net of dividends                        |     |   9,431