Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 538

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 538
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 comparing to 2023, although in constant euros it increased by 15% during the year, thanks to the good commercial dynamics in all countries, with a clear strategic focus on growth, service quality, and technological transformation to offer the Group's payments and cards customers an improved experience and quality of service. Loan-loss provisions , which are concentrated in Cards, reached EUR 1,714 million, increased by 3% comparing to 2023, owing to performance in South America and Mexico. The cost of risk increased by 17 bps during the year, reaching 7.39%, due to the growth in provisions and the portfolio. The anticipatory measures adopted have allowed the improvement of the quality and profitability of new production, contributing to a balanced risk profile with the portfolio's economic profitability. The NPL coverage ratio remained high and stable at 140%.

Annual report 2024 516

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagementandcompliance |

#### Reconciliation of key figures
Santander’s 2024 consolidated financial statements disclose loans and advances to customers before and after loan-loss reserves. Credit risk with customers also includes off-balance sheet risk or contingent liabilities. This table shows the relationship between those concepts:

|                                        |     |           |     |                    Gross credit risk with customersA |     |        |     |                                    |     |   |     |                                         |     |   |     |                        |
|                                        |     |           |     |                                            1,157,274 |     |        |     |                                    |     |   |     |                                         |     |   |     |                        |
| Gross credit risk with customers       |     |         = |     |       Gross loans and advances to customers & others 
                                            1,076,195 |     |        |     |                                    |     |   |     |                                         |     | + |     | Contingent liabilities |
| 1,157,274                              |     |    81,079 |     |                                                      |     |        |     |                                    |     |   |     |                                         |     |   |     |                        |
| Loans and advances to customers(Gross) |     |         = |     | Financial assets measured at amortized cost (Gross)B |     |      + |     | Financial assets held for tradingB |     | + |     | Financial assets at fair value