Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000080
Chunk: 21

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 21
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.4 Total revenue 7,895 -3.7 2.4 -2.1 Operating expenses -3,113 -6.7 -0.9 -5.2 Net operating income 4,782 -1.6 4.7 0.1 LLPs -1,431 2.0 1.9 -6.1 Attributable profit 1,902 1.9 27.5 23.6 (*) € mn and % change in constant euros. (1) % change in current euros. Loans €608bn -1% Mutual funds €101bn +15% Efficiency 39.4% -1.3pp CoR 0.91% -12bps RoTE post-AT1 17.6% +2.3pp • ONE Transformation continued to deliver strong results reflected in the expansion of fees and customer funds (+4% YoY), the improvement in the cost to serve (-5% YoY) and higher profitability • Loans still affected by prepayments in Spain and focus on profitability in the UK. Increases in deposits and mutual funds in most of the countries • Strong profit increase YoY (+28%) driven by a solid revenue performance across most of our footprint and benefitting from the full charge in Q1’24 of the temporary levy in Spain, vs. the accrual of the banking tax in 2025 Like-for-like2, profit +13%. By line: − NII rose 4% excl. Argentina, supported by Chile and the UK (good margin management), Mexico (volumes and lower costs of deposits) and Poland (volumes) − Fees up, mainly mutual funds and insurance − Costs down reflecting our transformation efforts − LLPs showed a solid performance across most countries. Up in Brazil (individuals), normalization in the UK (at low levels) and Chile • Profit up QoQ, driven by fees and strong cost decline, which more than offset the impact of interest rates on NII and higher LLPs Deposits €644bn +2%

39 RETAIL SPAIN Note: Mar-25 data and YoY changes (loans, deposits and mutual funds in constant euros). RETAIL UK Underlying P&L* Q1'25 % Q4'24 % Q1'24 NII 1,467 2.6 -0.4 Net fee income 291 19.0 2.9 Total revenue 1,794 7.2 0.8 Operating expenses