Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 53

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 53
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 of credit cards in our countries. The number of transactions rose 5% year-on-year, boosted by increased card usage for all types of payments. Gross loans and advances to customers, excluding reverse repos and in constant euros rose 15%, driven by good performances across our countries, of note was the double-digit growth in our South American countries.

| Cards. Activity                           |
| Spending                                  |
| EUR billion and changes in constant euros |

| +7% |

Results In Q1 2025, attributable profit amounted to EUR 121 million, 22% less than in the same period of 2024. In constant euros, profit decreased 14%, by line: • Total income increased 13% year-on-year, driven by strong growth in net interest income (+14%) due to higher volumes, and net fee income (+10%), driven by interchange fees in Latin America. • Costs rose 2%, as a result of our focus on cost management and despite our investment in platforms. • Net loan-loss provisions increased 33%, mainly driven by strong credit portfolio growth across the portfolio in general, macro outlook and regulatory changes in models in Brazil and model updates in Mexico due to the macro environment. In Q1 2025, RoTE (post-AT1) in Cards was 19.2%. Compared to Q4 2024, attributable profit was affected by the effect of the exchange rate in Argentina in Q4 and seasonality in revenue, characterized by high spending Q4 each year while Q1 usually has the lowest transactionality, and by higher provisions. Of note, net interest income rose 6% excluding Argentina.

| Cards. Underlying income statement          |     |       |     |       |     |     |          |     |     |     |     |          |     |     |
| EUR million and % change                    |     |       |     |       |     |     |          |     |     |     |     |          |     |     |
|                                             |     |       |     |       |     |   / | Q4'24    |     |     |     |   / | Q1'24    |     |     |
|                                             |     | Q1'25 |     |       |     |   % | excl. FX |     |     |     |   % | excl. FX |     |     |
| Total income                                |     |       |     | 1,067 |     |  -9 |          |     |