Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 141

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 141
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 and moderate-income people.

H. We have initiatives to help groups with difficulties in accessing credit; among them, in Spain, we lend to SMEs at their risk limit; in the US, we lend to small businesses operating in low- and moderate-income communities; in Argentina, we lend to entrepreneurs with little credit history. In Mexico, we offer special credit programmes to people at the bottom of the pyramid.

ii. Progress on financial health In 2024, we continued to make headway with a common approach to financial health. We define financial health as people’s ability to manage finances to meet short-term needs and support long-term goals, bringing stability to avoid financial distress. We run initiatives in all our markets to promote financial resilience, planning, security and control among our customers in general and, especially, the most vulnerable groups. The solutions that help customers boost their financial health by making more informed decisions include tools to manage money better, debt calculators and advisory service, which together with financial education support our customers' financial health and better informed decisions. Financial health must go hand in hand with financial inclusion so that people who access the financial system can manage their money responsibly and effectively. We complement this with financial education to narrow the knowledge gap on financial products and digital skills. For more details on our financial education programmes for customers and non-customers alike, see section 3.2.4 ‘Community Support’. In 2024 we have set metrics to monitor financial health, especially for over-indebted customers.

3.3.3 Privacy, data protection and cybersecurity This section outlines how we manage these IRO:

| I- |     | Potential infringement of customers’, employees’ or shareholders’ rights due to a lack of appropriate technical or organizational measures to protect their personal data according to law and the practices set by the Group. |
| I+ |     | Education and awareness on cybersecurity issues to understand potential threats and mechanisms to avoid them.                                                                                                                  |
| R  |     | Potential losses due to fines or a reduction in the number of customers because of a failure to detect or respond effectively to breaches of privacy.                                                                          |

i. Privacy and data protection The use of new technologies and progress with the digitalization of businesses have led to a rapid increase in the processing of personal data. Our commitment to complying with regulation on the protection of personal data throughout their life cycle is key in this regard. Our corporate standards remain consistent with data protection and

Annual report 2024 97

| Contents |     | Business model and strategy |