Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000111
Chunk: 55

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 55
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 the following detail: • Total income rose 9%, supported by solid gains on financial transactions, up 14%, mainly due to higher activity in GM, by n et fee income performances in all businesses (+9%, favoured by the US BBO initiative), and by net interest income, which rose 4%, due to higher activity in GM. By country, there were good revenue performances in the US, Brazil, Mexico and Argentina, with European units also continuing to grow, but at a slower pace. By business, strong revenue growth in GM was well balanced between fixed income business and equity products, both up double digits. In GTB, revenue increased on the back of a strong performance in Trade & Working Capital Solutions. In GB, revenue also increased, as net fee income growth in CF products (ECM and M&A) more than compensated lower revenue from Debt Finance and Structured Finance, affected by subdued activity.

| CIB. Total income by business.H1 2025      |
| EUR million and % change in constant euros |

| Note: total income includes revenue from other activities which are less material (EUR 72 million in H1'24 and -EUR 5 million in H1'25). |

• Costs increased 8% due to the investments made in new products and capabilities to drive growth. The efficiency ratio was 43.7%, one of the best in the sector. • Due to the nature of the business and the high quality of our credit portfolio, net loan-loss provisions have a limited impact on results. In H1 2025, net loan-loss provisions declined, driven by a better performance in European countries. As a result, this good business performance delivered a 20.8% RoTE (post-AT1) in H1 2025 compared to 18.1% in H1 2024, reflecting our focus on capital efficiency, active management and profitability. Compared to a record Q1 2025 , attributable profit decreased 7% in constant euros, in an environment characterized by geopolitical uncertainty. Revenue was affected by the usual seasonality in GM and by lower activity in GB and provisions were impacted by single names.

| CIB. Underlying income statement            |     |       |       |     |      |       |     |          |     |        |       |     |    |       |     |          |
| EUR million and % change                    |     |       |       |     |      |       |     |          |     |        |