Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000105
Chunk: 33

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 33
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its up and outstanding growth in mutual funds • Profit increased 16% YoY, driven by an excellent NII performance (volumes and ALCO), fees (FX and securities) and improved LLPs, which more than offset higher costs (competitive labour market) • NOI +14% QoQ driven by good NII performance (volumes) in a lower interest rate context and GFT (CIB). Higher CHF charges, resulting in lower profit • Loans up with solid new business performance. Increases in deposits, mainly in demand. Mutual funds grew double digits • Profit YoY affected by the impact of lower interest rates on NII, with solid fee growth (insurance), cost control and LLP releases. Outstanding RoTE of 31% • In the quarter, profit down affected by declining NII, resolution fund contribution in April 2025 and higher LLPs

49Note: Jun-25 data and YoY changes (loans, deposits and mutual funds in constant euros). US RoTE post-AT1 adjusted based on Group’s deployed capital calculated as contribution of RWAs at 12%, is 14.9%. US MEXICO Underlying P&L* Q2'25 % Q1'25 H1'25 % H1'24 % H1'24¹ NII 1,450 4.1 2,949 5.5 4.4 Net fee income 323 -1.7 678 27.1 25.8 Total revenue 1,913 2.3 3,927 5.2 4.2 Operating expenses -937 0.3 -1,944 3.2 2.2 Net operating income 976 4.4 1,983 7.3 6.2 LLPs -493 -0.6 -1,028 -11.3 -12.2 Attributable profit 422 8.8 839 27.5 26.2 (*) € mn and % change in constant euros. (1) % change in current euros. Underlying P&L* Q2'25 % Q1'25 H1'25 % H1'24 % H1'24¹ NII 1,109 1.1 2,238 8.9 -7.6 Net fee income 339 -0.2 689 10.8 -6.0 Total revenue 1,504 2.8 3,010