Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 517

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 517
---
 underlying allowances for loan-loss provisions over the last 12 months.

Denominator: average loans and advances to customers over the last 12 months.

PagoNxt's cost of risk is not provided as we do not consider it a relevant metric for this type of business.

Annual report 2024 498

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

#### Other indicators
The Group has a series of additional financial metrics which facilitate analysis of the underlying business trends and performance.

| Ratio                                                   |     |                                           |     | Formula                                                                                                                                                |     | Relevance of the metric                                                                                                                                                                                                                                                                                  |
| TNAV per share(Tangible net asset value per share)      |     |                                           |     | Tangible book valueA                                                                                                                                   |     | This is a very commonly used ratio used to measure the company’s accounting value per share having deducted the intangible assets. It is useful in evaluating the amount each shareholder would receive if the company were to enter into liquidation and had to sell all the company’s tangible assets. |
|                                                         |     | Number of shares excluding treasury stock |     |                                                                                                                                                        |     |                                                                                                                                                                                                                                                                                                          |
| Price to tangible bookvalue per share(X)                |     |                                           |     | Share price                                                                                                                                            |     | This is one of the most commonly used ratios by market participants for the valuation of listed companies both in absolute terms and relative to other entities. This ratio measures the relationship between the price paid for a company and its accounting equity value.                              |
|                                                         |     | TNAV per share                            |     |                                                                                                                                                        |     |                                                                                                                                                                                                                                                                                                          |
| LTD ratio(Loan-to-deposit)                              |     |                                           |     | Net loans and advances to customers                                                                                                                    |     | This is an indicator of the bank's liquidity. It measures the                                                                                                                                                                                                                                            
 total loans and advances to customers net of loan-loss provisions as a percentage of customer deposits.                                                                                                                                                                                                  |
|                                                         |     | Customer deposits                         |     |                                                                                                                                                        |     |                                                                                                                                                                                                                                                                                                          |
| Loans and advances (excl. reverse repos)                |     |                                           |     | Gross loans and advances to customers excluding reverse repos                                                                                          |     | In order to aid analysis of the commercial banking activity, reverse repos are excluded as they are highly volatile treasury products.                                                                                                                                                                   |
| Deposits (excl. repos)                                  |     |                                           |     | Customer