Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000111
Chunk: 18

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 18
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 in Q2 2025 (EUR 231 million, net of tax and minority interests), which strengthens the balance sheet after having updated macroeconomic parameters in Brazil’s credit provisioning models, in accordance with IFRS 9 regulations, which resulted in increased provisions, reflecting expectations of a more complex economic environment. In H1 2024: • There were no impacts outside the ordinary course of our business and therefore no amount was recorded under the ‘net capital gains and provisions’ line. For further information on the reconciliation between the statutory and underlying income statements, see the ' Alternative performance measures ' section in this report. All in all, profit attributable to the parent and underlying profit attributable to the parent were the same, EUR 6,833 million in H1 2025 and EUR 6,059 million in H1 2024. This represents a 13% year-on-year increase,+18% in constant euros. This year-on-year comparison was favoured by the temporary levy on revenue earned in Spain which was recorded in full in Q1 2024 compared to accrual-based approach applied in 2025 and by the recognition in H1 2024 of the impacts in PagoNxt following the discontinuation of our merchant platforms in Germany and Superdigital in Latin America. Total income amounted to EUR 31,010 million in H1 2025, flat compared to H1 2024. In constant euros, total income rose 5% year-on-year, as follows: • Net interest income (NII) performed well, with a 1% year-on-year increase despite a lower interest rate environment and the strong impact of the sharp fall in interest rates in Argentina. Excluding Argentina, NII rose 4%. By business: • In Retail , NII was flat. Excluding Argentina, it rose 3%, due to good performances in Chile (lower cost of deposits), the UK (driven by higher mortgage lending profitability and lower cost of deposits) and in Mexico and Poland due to higher activity. • In Consumer, NII rose 5% supported by our good margin management across key markets and also by higher volumes in DCB Europe and South America and the CrediScotia acquisition in Peru. • In CIB , NII increased 4%, even with a negative impact from Argentina. Excluding it, NII grew 13% driven by the strong increase in activity (Global Markets). • In Wealth , NII declined 16%, mainly in Private Banking, impacted by the