Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000078
Chunk: 23

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 23
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| 1.14%                                                                                    |     | 2.99%             |     | 66%                |     | Q1'25                                                                                                                                                                                                              |     | EUR 21 million |     | +EUR 2.6 mn vs. Q4'24 |
| -1 bp vs. Dec-24                                                                         |     | -5 bps vs. Dec-24 |     | +1 pp vs. Dec-24   |     |                                                                                                                                                                                                                    |     |                |     |                       |
| Structural and liquidity risk                                                            |     |                   |     |                    |     | Operational risk                                                                                                                                                                                                   |     |                |     |                       |
| Robust and diversified liquidity buffer, with ratios well above regulatory requirements. |     |                   |     |                    |     | In Q1 2025, our operational risk profile remained stable, focusing on risks associated with suppliers, technology and cyber risk. We registered a decrease in operational losses compared to the previous quarter. |     |                |     |                       |
| Liquidity Coverage Ratio (LCR)                                                           |     |                   |     |                    |     |                                                                                                                                                                                                                    |     |                |     |                       |
| 157%1                                                                                    |     |                   |     | -11 pp vs. Dec-24  |     |                                                                                                                                                                                                                    |     |                |     |                       |

Credit risk 2

The environment in the first three months of the year was characterized by the growing uncertainty caused by certain geopolitical tensions, with two main focus points: tariff policies in the US and spending on infrastructure and defense in Europe.

Regarding the credit market, successive interest rate cuts in mature markets have marked the end of active deleveraging in these regions, starting a new credit cycle with positive growth. The reduction in early repayments could support an increase in mortgage portfolio balances, while consumer credit, which is less sensitive to interest rate changes, is expected to show positive trends. Companies, which are in an expansive credit phase, could be affected by tariff policies.

Our global and diversified business model, with our strong local presence, provides us with a resilient structure which, together with our conservative risk management, enables us to maintain a medium-low risk profile, even in a more complex macroeconomic and geopolitical environment.

In terms of credit quality, in the first quarter:

• The

#### NPL ratio
improved 5 bps quarter-on-quarter to 2.99%. Credit impaired loans decreased 1% to EUR 34,992 million as the

improvements