Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 23

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 23
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 interest rates and higher transformation charges

38Note: Sep-25 data and YoY changes (loans, deposits and mutual funds in constant euros). RETAIL MEXICO RETAIL BRAZIL Underlying P&L* Q3'25 % Q2'25 9M'25 % 9M'24 % 9M'24¹ NII 762 2.0 2,253 7.9 -4.9 Net fee income 179 -0.4 527 9.9 -3.1 Total revenue 932 3.0 2,719 7.2 -5.5 Operating expenses -405 2.3 -1,191 4.7 -7.7 Net operating income 528 3.6 1,528 9.3 -3.6 LLPs -176 15.4 -461 -6.4 -17.5 Profit before tax 338 -0.5 1,016 15.5 1.8 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €33bn +4% Deposits €36bn +5% Mutual funds €15bn +20% Yield on loans 12.63% -115bps Cost of deposits 3.76% -133bps Efficiency 43.8% -1.1pp Loans €56bn -3% Deposits €58bn +9% Mutual funds €23bn +15% Yield on loans 17.01% +59bps Cost of deposits 9.02% +181bps Efficiency 40.8% +2.7pp Underlying P&L* Q3'25 % Q2'25 9M'25 % 9M'24 % 9M'24¹ NII 1,452 -4.1 4,489 -4.0 -13.6 Net fee income 314 -6.4 1,006 -5.5 -14.9 Total revenue 1,719 -4.2 5,376 -4.8 -14.3 Operating expenses -709 -3.0 -2,193 2.0 -8.2 Net operating income 1,011 -5.0 3,183 -8.9 -18.0 LLPs -603 -15.9 -2,034 0.7 -9.3 Profit before tax 244 54.