Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 483

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 483
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% due to lower market activity in South America, mainly in Brazil.

By region, good total income performance in North America and Europe, while total income grew only slightly in South America, in part due to weaker activity in the Brazilian market .

| CIB. Total income by region                |
| EUR million and % change in constant euros |

|               |     | Europe        |
| North America |     |               |
|               |     | South America |

| Var  |
| +14% |
| +34% |
| +1%  |

By business, total income rose 25% in GB (CF in Europe and the US and GDF across markets) and +18% in GM, on the back of strong activity in Europe and North America, mainly with institutional clients. In GTB, total income grew 3% supported by good performance in Export Finance and Trade & Working Capital Solutions.

| CIB. Total income by business              |
| EUR million and % change in constant euros |

Note: total income includes revenue from other activities which are less material (EUR 186 million in 2023 and EUR 161 million in 2024). • Administrative expenses and amortizations increased 14% due to our investments in new products, capabilities and technology. The efficiency ratio stood at 45.6%. • Due to the nature of the business, net loan-loss provisions have a limited impact on CIB's results. They were EUR 174 million (EUR 165 million in 2023), with a low cost of risk of 0.10%. • Other gains (losses) and provisions recorded a EUR 353 million loss compared to a EUR 181 million loss in 2023. As a result, RoTE was 18.1% in 2024 (0.5 pp higher than in 2023).

| CIB. Underlying income statement |     |       |        |     |       |        |     |     |            |     |     |
| EUR million and % change         |     |       |        |     |       |        |     |     |            |     |     |
|                                  |     |       |        |     |       |        |     |   / |       2023 |     |     |
|                                  |     |       |   2024 |     |  2023 |        |     |   % | % excl. FX |     |     |
| Revenue                          |     |       |  8