Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000103
Chunk: 57

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 57
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 clients with investment funds managed by SAM). Results Attributable profit in H1 2025 amounted to EUR 948 million, 19% higher year-on-year. In constant euros, it grew 24%, with the following performance by line: • Total income was EUR 2,032 million, 14% higher year-on-year as a result of our focus on value-added solutions to expand our fee businesses. Net interest income decreased 16% in a lower interest rate environment in most of our main units, despite higher volumes in Private Banking. Net fee income rose 20% year-on-year to EUR 842 million, with good overall performance across businesses. Of note were the performances in Private Banking and SAM, on the back of our increased focus on boosting fee generating activities and products, solid commercial activity and a positive market performance.

Other income increased, boosted by the good performances of our joint ventures in Insurance and the stakes managed by our Portfolio Investments business line. • Costs increased 9% year-on-year (growing less than total income), reflecting our investments to strengthen PB teams and new capabilities to address the increase in commercial activity. Including the fees ceded to our commercial network, total revenue reached EUR 3,249 million, up 11%, on the back of more recurrent activity in Private Banking, higher volumes in SAM and the good performance of insurance related businesses.

| Wealth. Total income.H1 2025                    |
| EUR million and  YoY % change in constant euros |

| PB        |
| SAM       |
| Insurance |

| Total income |     | Total income + ceded fees |
| +2%          |     | +2%                       |
| +20%         |     | +19%                      |
| +25%         |     | +5%                       |

| Total income |     | Fees ceded to the commercial network |

Note: Additionally, Wealth's total income included EUR 45 million in H1'24 and EUR 162 million in H1'25 corresponding to Portfolio Investments. Information excludes overlaps between Wealth businesses and also Insurance fees recorded in Consumer (EUR 432 million). When considering these ceded fees along with our PAT, the total contribution to Group profit (PAT+Fees) reached EUR 1,783 million, up 15% year-on-year both in euros and in constant euros. Our RoTE (post-AT1) in H1 2025 was 67.3%. Compared to Q1 2025 , attributable profit increased 3%