Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000132
Chunk: 6

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 6
---
 3% quarter-on-quarter, despite the impact of Argentina. Excluding it, profit grew 4%, driven by a resilient NII even in a less favourable interest rate environment, solid net fee income and lower provisions, with controlled costs. u In 9M 2025, attributable profit increased 11% year-on-year to EUR 10,337 million, also an all-time-high. In constant euros, profit rose 16% backed by solid performances across all revenue lines, especially in net fee income, with costs flat in real terms and better cost of risk. In addition, the year-on-year comparison was favoured by the charges in Q2 2024 following the discontinuation of the merchant platform in Germany and Superdigital in Latin America. u Strong profit growth across our global businesses, most of them at or close to double digits year-on-year , supported by the solid increase in revenue. u These results in 9M 2025 put us on track to meet our 2025 targets .

u Profitability improved significantly year-on-year with RoTE (post-AT1) increasing 0.7 pp to 16.1% in 9M 2025, compared to 15.4% in the same period of 202 4, advancing toward our c.16.5% target for 2025. u We continue to record sustained earnings per share growth, increasing 16 % year-on-year to EUR 66.1 cents in 9M 2025, boosted by the positive profit trends and the share buybacks executed over the last 12 months.

u In terms of business volumes, growth of customer funds outpaced loans and advances to customers as we continued to focus on active capital management, disciplined capital allocation and profitable growth. Gross loans and advances to customers (excluding reverse repos) rose 2% year-on-year in constant euros, supported by increases in all businesses except in Retail, where they were flat. Customer funds (customer deposits excluding repos plus mutual funds) grew 7% year-on-year in constant euros, increasing across all global businesses, underpinned by a rise in both demand and time deposits, and double-digit growth in mutual funds. u In a less favourable environment than initially expected, shaped by geopolitical and trade tensions and lower interest rates, total income was flat year-on-year, remaining on track to meet our target. In constant euros, it was 4% up, underpinned by the solid net interest income performance, which rose 2%, and