Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000132
Chunk: 43

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 43
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 loans and advances to customers, excluding reverse repos and in constant euros, were stable year-on-year, as the increase of corporates was more than offset by lower volumes in mortgages, in line with our balance sheet optimization strategy, and SMEs. However, the trend in mortgages has been positive since the beginning of the year, with a progressive recovery in new business volumes. Customer deposits, excluding repos and in constant euros, increased 1% year-on-year, as the strong growth in time deposits in individuals, offset the decrease in demand deposits. Mutual funds rose 1% year-on-year in constant euros. As a result, customer funds improved 1% in constant euros. Results Profit before tax in 9M 2025 reached EUR 1,166 million, 4% lower than in 9M 2024. In constant euros, profit before tax also decreased 4%, by line: • Total income rose 2%, mainly due to a good net interest income performance, driven by higher mortgage yields and a lower cost of deposits. • Costs fell 4%, boosted by process automation and our simplification efforts. Overall, net operating income grew 9% and the efficiency ratio improved 3 pp to 53.4%. • Net loan-loss provisions increased but remained at very low levels, due to LLP normalization. • Other gains (losses) and provisions recorded higher losses, due to impacts related to transformation charges. Compared to Q2 2025 , profit before tax increased 50% in constant euros, on the back of the strong net operating income, driven by both revenue and costs, net loan-loss releases due to portfolio sales and lower regulatory charges.

| Retail United Kingdom. Underlying income statement |     |       |       |     |     |          |     |     |     |       |        |     |      |          |     |      |
| EUR million and % change                           |     |       |       |     |     |          |     |     |     |       |        |     |      |          |     |      |
|                                                    |     |       |       |     |   / | Q2'25    |     |     |     |       |        |     |    / | 9M'24    |     |      |
|                                                    |     | Q3'25 |       |     |   % | excl. FX |     |     |     | 9M'25 |        |     |    % | excl. FX |