Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 481

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 481
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 the US and EMEA, where our recent investments have had a positive effect and synergies are evident.

Our US BBO initiative is producing results, enabling us to deliver more sophisticated solutions to our clients and achieve numerous ‘firsts’ in businesses where we did not have presence and upgraded roles in transactions. Additionally, this is leading to follow-on business opportunities in other areas and markets, such as in our DCM business, which has led the reverse Yankee bond market.

• We continued to actively manage capital through our originate- to-share model to drive large-scale capital recycling in coordination with the Group's Global Asset Desk team. This enabled us to increase origination and maintain good profitability ratios.

• Attracting, developing and retaining top diverse talent is key to the execution of our strategy and for business success, and we implemented several initiatives to enhance our teams’ skills and provide enriching careers.

| Recent awards                                                                 |     |                                                                   |     | Ranking in League Tables 2024 |     |      |     |     |
| Risk.net                                                                      |     | Global Banking & Markets                                          |     | Structured Finance            |     | ECM  |     | M&A |
| Risk Solutions House of the Year                                              |     | Bond House and ESG Bond House of the Year                         |     |                               |     |      |     |     |
| PFI                                                                           |     | Global Finance                                                    |     | Debt Capital Markets          |     | ECAs |     |     |
| Americas Bank of the Year                                                     
 Europe Digital Deal of the Year: GD Towers (Germany)                          |     | World’s Best Sustainable Supply Chain and Trade Finance Solutions |     |                               |     |      |     |     |
| Note: In DCM, Europe and the UK refers to financial institutions group (FIG). |     |                                                                   |     |                               |     |      |     |     |

Annual report 2024 445

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

Business performance A high proportion of CIB's activity is customer related (84% of total income) and capital light, supported by our active balance sheet management, as reflected in a total revenue to risk-weighted assets ratio of 6.9%, up 1 pp since 2022. Loans and advances to customers, mainly concentrated in GTB and GB businesses, increased 9% year-on-year. In gross terms, minus reverse repos