Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000134
Chunk: 14

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 14
---
 by DCB Europe and DCB US − CIB and Payments up excluding Argentina • NIM trends affected by distortions from Argentina (FX QoQ and interest rates YoY). Excluding Argentina: − NIM down 9bps YoY, in a less favourable interest rate environment, and -4bps QoQ, mainly due to Brazil (interest rates and product mix), Chile (UF) and Mexico (interest rates) Solid NII performance YoY across most global businesses on the back of effective balance sheet management NIM Performance NII NET INTEREST INCOME AND NIM Note: NIM = NII / Average earning assets in current euros. Data and YoY % changes in constant euros. NIM Quarterly Constant € mn NET INTEREST INCOME MARGINS 2.97% 2.89% 2.79% 2.92% 2.73% 2.78% 2.69% +2% Excl. Argentina vs. 9M’24 2.74% -1.20 -0.14 2.88% +0.35 +0.85 9M'24 Asset yields Asset volumes Liability costs Liability volumes 9M'25 +3% -2% QoQ Excl. Argentina +0% 11,360 10,922 11,035 11,822 11,146 11,424 11,245 Q1'24 Q2 Q3 Q4 Q1'25 Q2 Q3

20 • Retail: − Growth on the back of a more targeted product offering and customer increase (+6mn) − Of note, strong performances in Mexico, Argentina and the UK • Consumer: − Fees affected by new insurance regulation in Germany and car registrations in Europe. DCB US +30% driven by auto servicing fees • CIB: − Solid performance (+7%) across business lines and supported by our US transformation initiatives • Wealth: − 19% growth driven mainly by PB and SAM, in line with our greater focus on fee businesses, with higher commercial activity and favourable market performance • Payments: − Strong growth, boosted by sound activity both in PagoNxt (Getnet TPV up 15% YoY) and Cards (spending +8% YoY) mainly in LatAm countries Record net fee income in 9M driven by value added from our global businesses DETAIL BY BUSINESS Note: data and YoY % changes in constant euros. 10,011