Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 39

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 39
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         |     |  +3 |
| PBT                                         |     |   810 |       |         |     | +41 |     |         |     | +40 |
| Detailed financial information in appendix. |     |       |       |         |     |     |     |         |     |     |

|            |     | RETAIL UK |     | Profit before tax |
| EUR 348 mn |     |           |     |                   |

Commercial activity and business performance In the first quarter, we made progress in our transformation programme through digitalization and automation, which helped simplify the business and improve efficiency. We prioritized profitability through price discipline and planned balance sheet optimization. As a result, loans and advances to customers decreased 1% year-on-year. In gross terms, excluding repos and in constant euros, they fell 3%, due to mortgages and SMEs. Customer deposits decreased 4% year-on-year. Excluding repos and in constant euros, they fell 5%, mainly due to demand deposits. Mutual funds decreased 4% in constant euros. As a result, customer funds declined 5% in constant euros. Results Profit before tax in Q1 2025 reached EUR 348 million, 5% lower than in the same period of 2024. In constant euros, profit before tax decreased 8%, by line: • Total income increased 4%, mainly due to good net interest income performance, driven by higher yields in mortgages and lower cost of deposits. • Costs fell 4%, boosted by our efforts to simplify in the operating model and process automation. Overall, net operating income grew 17% and the efficiency ratio improved 4.9 pp to 53.6%. • Net loan-loss provisions increased but remained at low levels, due to cost of risk normalization. • Other gains (losses) and provisions recorded more negative results, due to impacts related to transformation charges. In the quarter, net operating income rose 5% in constant euros, supported by lower costs, reflecting our transformation efforts and seasonality. However, this good performance is not reflected in profit before tax due to the higher provisions mentioned.

| Retail United Kingdom. Underlying income statement |     |       |       |     |    |          |     |    |     |      |          |     |      |
| EUR million and % change                           |     |       |       |     |    |          |     |    |     |      |          |     |      |
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