Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000103
Chunk: 14

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 14
---
 fair value through profit or loss (net) Impairment of financial assets not measured at fair value through profit or loss (net) was EUR 6,524 million and included provisions which strengthen the balance sheet after having updated macroeconomic parameters in Brazil’s credit provisioning models. In H1 2024, the impairment was EUR 6,275 million. Impairment on other assets (net) The impairment on other assets (net) was EUR 147 million. In H1 2024, the impairment on other assets totalled EUR 289 million, including the charges in PagoNxt following the discontinuation of our merchant platform in Germany. Gains or losses on non-financial assets and investments (net) Net gains on non-financial assets and investments recorded a loss of EUR 32 million in H1 2025. In H1 2024, net gains were EUR 365 million, which included the capital gain of EUR 352 million generated upon closing the agreement with Sodexo in Brazil.

Negative goodwill recognized in results In H1 2025, negative goodwill recognized in results was EUR 22 million relating to the acquisition of CrediScotia from Scotiabank which expands Consumer's presence in Peru. There was no negative goodwill recorded in H1 2024. Gains or losses on non-current assets held for sale not classified as discontinued operations This item, which mainly includes impairment of foreclosed assets recorded a EUR 217 million gain in H1 2025 which included a capital gain of EUR 231 million from the sale of Santander’s remaining 30.5% stake in CACEIS. In H1 2024, this line recorded a loss of EUR 31 million. Profit or loss before tax from continuing operations Profit before tax was EUR 9,104 million in H1 2025, up 4% year-on-year, supported by the solid performance in net fee income, our cost discipline and the impact of the full recognition of the temporary levy on revenue earned in Spain in Q1 2024 (EUR 335 million) in the other operating income line and the charge in H1 2024 following the aforementioned discontinuation of platforms in PagoNxt. Tax expense or income from continuing operations Total income tax in H1 2025 amounted to EUR 2,367 million which includes EUR 174 million corresponding to the quarterly accrual of expected tax on income obtained in Spain for the year. In H1 2024, income tax