Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 48

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 48
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 strategic initiatives: • In Private Banking (PB), we are developing key growth opportunities to expand our footprint, such as in the Middle East, where we are working to strengthen partnerships, driving growth. As a result, we have achieved our first key milestones in terms of business volumes and expanding our client base. We continue to increase our specialization, creating a new global Family Office team that provides multi-booking capabilities to clients in Miami, Switzerland, Spain, Brazil and Mexico. We are expanding our Ultra-High Net Worth (UHNW) global team. Regarding our products and services, we continue to focus on value-added solutions, providing the best advice to increase our net fee income. In this regard, we launched a new private assets strategy, supported by a global team that will drive top-tier global and local opportunities tailored to our clients’ investment profiles and preferences. We also launched Strategic Solutions, a new initiative to deliver tailored investment banking capabilities to our UHNW clients. During the quarter, we were named World’s Best Private Bank for International Latin American Clients, Best International Private Bank in Latin America and Best International Private Bank in six of our countries by Euromoney .

| Private Banking clients |
| Thousands               |

• In SAM , we operate as a global asset manager leveraging our scale, global investment capabilities and product distribution hubs. We continue transforming, globalizing and simplifying our operating model, governance and value proposition to continue to improve our efficiency ratio even further. In terms of retail distribution, we progressed in the implementation of an advisory model across all countries, supported by a global investments platform that provides a better customer experience. Regarding our alternatives business, we recently acquired a majority stake in Tresmares Capital, an alternative financing and private equity platform, showing our strategic focus on private markets. We continue growing on our institutional/third party partnership investments, reinforcing our distribution capabilities. • In Insurance , we reorganized our business around Life & Pensions and Property & Casualty verticals to accelerate the execution of our strategy and transformation plans while we continue evolving our product offering: • In terms of Life & Pensions, we are developing a new retirement business line, offering an integrated value proposition and unlocking synergies with Asset Management, aiming to support our long-term vision for growth in this business. • In terms of Property & Casualty, we are expanding high growth verticals such as: i) Health, where we are developing targeted solutions for our customers, as we have done in Chile in agreement with UC Christus, and ii) Motor, where we