Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 427

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 427
---
 |     |  3,566 |      |
| Administrative expenses           |     | 22,740 |      |     | 22,241 |      |        |  499 |          |     |   2.2 |   |     | 20,918 |      |
| Depreciation and amortization     |     |  3,294 |      |     |  3,184 |      |        |  110 |          |     |   3.5 |   |     |  2,985 |      |
| Operating expenses                |     | 26,034 |      |     | 25,425 |      |        |  609 |          |     |   2.4 |   |     | 23,903 |      |

Annual report 2024 404

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

Provisions or reversal of provisions

Provisions (net of provisions reversals) amounted to EUR 3,883 million in 2024 (EUR 2,678 million in 2023) and included the charges after discontinuing our Superdigital platform in Latin America in Q2 2024, and the provision in Q4 2024 for potential complaints related to motor finance dealer commissions in the UK.

For more details, see note 25 to the consolidated financial statements.

Impairment or reversal of impairment of financial assets not measured at fair value through profit or loss (net)

Impairment or reversal of impairment on financial assets not measured at fair value through profit or loss (net) was EUR 12,644 million in 2024 (EUR 12,956 million in 2023).

Credit quality indicators remained robust, supported by good risk management and the good performance of the economy in general and labour markets in the countries where the Group operates.

Impairment of other assets (net)

The impairment on other assets (net) was EUR 628 million in 2024 and included the charge registered in Q2 2024 after discontinuing our merchant platform in Germany, compared to an impairment of EUR 237 million in 2023.

Gains or losses on non-financial assets and investments (net)

Net gains on non-financial assets and investments (net) were EUR 367 million in 2024, which included the gain recorded in Q2 2024