Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000130
Chunk: 2

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 2
---
197 +6% +9% Attributable profit 10,337 +11% +16% 3,504 +8% +11% (*) All references to variations in constant euros include Argentina in current euros. Summary of statutory figures at the end of this press release. Underlying business performance All variations are year-on-year unless otherwise stated. Santander reported an attributable profit of €10,337 million in the first nine months of 2025, up 11% from the same period last year – a record performance for the period. Its total customer base reached 178 million after adding more than seven million new customers over the past 12 months. Strong results were driven by good performance in net interest income, record levels of fee income and further efficiency gains, with continued improvement in credit quality. Third-quarter attributable profit reached €3,504 million (+8%), marking the sixth consecutive quarter of record results. The group continued to increase profitability and create value for shareholders, achieving a return on tangible equity (RoTE) of 16.1% (+0.7 percentage points) post-AT1, earnings per share (EPS) of €0.66 (+16%), and tangible net asset value (TNAV) per share of €5.56 at end-September 2025. Including the 11.00 euro cents cash dividend paid in May and the 11.50 euro cents interim cash dividend to be paid in November, total value creation (TNAV plus cash dividend per share) increased by 15% year-on-year. In the first nine months of the year, customer funds grew 7% in constant euros, with deposits up 5% and mutual funds up 16%, reflecting higher customer activity and positive market performance. Loans rose 2% in constant euros to €1.0 trillion, driven by growth in Consumer, CIB, Wealth and Payments, while the loan book in Retail was stable as the bank maintained its focus on profitability and capital optimization. Total income stood at €46,277 million, flat in euros but up 4% in constant euros, driven by record net fee income (€10,011 million) and resilient net interest income (+3% in constant euros excluding Argentina). This reflects robust customer activity, which offset the impact of a less favourable interest rate environment. Operating costs improved 1% as the group continued to leverage its shared global platforms and services and simplified its structure. The efficiency ratio improved to 41.3%, its best level in more than 15 years