Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 9

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 9
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 governance |     | Appendix |     | Index |
|                       |     | Statutory income statement  |     |                                  |     |                      |     |          |     |       |

| STATUTORY INCOME STATEMENT |

Results performance compared to Q1 2024

In Q1 2025, profit attributable to the parent totalled EUR 3,402 million, reaching a new quarterly record for the fourth quarter in a row, supported by the good performance of our global businesses. Compared to the EUR 2,852 million recorded in Q1 2024, profit attributable to the parent in Q1 2025 was 19% higher year-on-year. This year-on-year comparison is favoured by the temporary levy on revenue earned in Spain (EUR 335 million) which was recorded in full in Q1 2024. This compares to EUR 87 million in Q1 2025, corresponding to the quarterly accrual of the tax on revenue expected in Spain for the year. If we accrue the 2024 temporary levy, distributing the charge equally between the four quarters of the year in line with the treatment of the tax in 2025, profit would increase 10% year-on-year. This growth was supported by the good performance in total income, mainly in net fee income, and lower operating expenses, reflecting our progress in transformation, with a slight increase in provisions in line with credit portfolio growth. Total income Total income amounted to EUR 15,537 million, up 3% year-on-year. • Net interest income (NII) totalled EUR 11,378 million, 5 % lower than Q1 2024, mainly due to the impact from the sharp fall in interest rates in Argentina (which are at the lowest levels since 2018) on all businesses, especially Retail and CIB. Excluding Argentina, net interest income was flat as the good performance in Consumer, due to good margin management and higher volumes, and in CIB and Payments, due to increased activity, offset the slight fall in Retail, as well as declines in Wealth and the Corporate Centre, impacted by the new interest rate environment.

| Net interest income |
| EUR million         |

• Net fee income amounted to EUR 3,369 million, up 4% compared to Q1 2024, due to the good performance in all businesses. Of particular note were the increases in CIB, supported by Global Transaction Banking and Global Banking, boosted by our US Banking Build-Out (US BBO