Company: BCDRF
Filing Date: 2025-02-05
Form Type: 6-K
Source: 0000891478-25-000033
Chunk: 5

Company: Banco Santander, S.A.
Filing Date: 2025-02-05
Form: 6-K
Chunk 5
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 to the composition of Santander's segments

The main changes, which we started to apply from 1 January 2024 to the management information for all periods included in the consolidated financial statements, are as follows:

• All of the Group's businesses across all markets were consolidated into five global areas: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking, Wealth Management & Insurance and Payments. These became the new primary segments.

• The changes in financial information were:

– The former Retail Banking was split into two new segments: Retail & Commercial Banking and Digital Consumer Bank. Our cards business now forms part of the new Payments segment.

– The results of activities mainly related to financial management located in the countries are fully allocated to their global businesses based on the segment that generates the financial position.

– The local corporate centres are fully allocated to the global businesses.

– The revenue sharing criteria between global businesses were revised to better reflect the contribution of each business to the Group.

• The former primary segments (Europe, North America, South America and Digital Consumer Bank - which is renamed DCB Europe) became our secondary segments. 2023 published figures for the regions, countries and the Corporate Centre remain unchanged.

All the changes described above have no impact on the reported Group consolidated financial statements.

#### Composition of Santander's segments

#### Primary segments
This primary level of segmentation, which is based on the Group's management structure from 1 January 2024, comprises six reportable segments: five operating areas plus the Corporate Centre.

The operating areas are:

#### Retail & Commercial Banking (Retail)
: area that integrates the retail banking business and commercial banking (individuals, SMEs and corporates), except for business originated in the consumer finance and the cards businesses.

Digital Consumer Bank (Consumer): comprises all business originated in the consumer finance companies, plus Openbank, Open Digital Services (ODS) and SBNA Consumer.

#### Corporate & Investment Banking (CIB)
: this business, which includes Global Transaction Banking, Global Banking (Global Debt Financing and Corporate Finance) and Global Markets, offers products and services on a global scale to corporate and institutional customers, and collaborates with other global businesses to better serve our broad customer base.

#### Wealth Management & Insurance (Wealth)
: includes the corporate unit of Private Banking and International Private Banking in Miami and Switzerland (Santander Private Banking), the asset management business (Santander Asset Management) and the insurance business (Santander Insurance).

#### Payments
: the Group's digital payments solutions,