Company: BCDRF
Filing Date: 2025-04-30
Form Type: 6-K
Source: 0000891478-25-000080
Chunk: 13

Company: Banco Santander, S.A.
Filing Date: 2025-04-30
Form: 6-K
Chunk 13
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EST INCOME • NIM trends affected by distortions from ARS exchange rates. Excluding Argentina, NIM -7bps YoY and flat QoQ • Decline YoY due to a less favourable interest rate environment across our footprint coupled with continued volumes growth • Proactive balance sheet management to reduce sensitivity to interest rates MARGINS Note: NIM = NII / Average earning assets. Data and YoY % changes in constant euros. 2.73% -1.21 -0.14 2.97% +0.30 +0.81 Q1'24 Asset yields Asset volumes Liability costs Liability volumes Q1'25 -2% NIM Quarterly Excl. Argentina +0% QoQ Excl. Argentina +4% YoY Constant € mn

20 3,100 3,115 3,189 3,360 3,369 Q1'24 Q2 Q3 Q4 Q1'25 • Retail: − Good commercial dynamics and customer growth (+6% YoY), resulting in generalized fee growth across our footprint − Of note, Mexico and Brazil (insurance and mutual funds) and Argentina (mutual funds, insurance and transactional) • Consumer: − Strong growth in DCB US (auto). Net fee income affected by new insurance regulation in Germany • CIB: − Double-digit growth, supported mainly by GB in the US (Banking Build-Out) and GTB across countries • Wealth: − 16% growth driven mainly by PB and SAM, in line with our focus on fee businesses, with positive commercial activity and favourable market performance • Payments: − Double-digit growth, boosted by sound activity both in PagoNxt (Getnet TPV up 14% YoY) and Cards (spending +7% YoY) DETAIL BY BUSINESS 3,369 3,100 +76 -9 +72 +59 +79 -8 Q1'24 Retail Consumer CIB Wealth Payments CC Q1'25 Record net fee income driven by value added from our global businesses Note: data and YoY % changes in constant euros. NET FEE INCOME YoY growth +7% -3% +11% +16% +13% +9% +9% Constant € mn

21 6,363 6,214 6,381 6,796 6,489 CIB, WEALTH AND PAYMENTS ONE Transformation is driving further structural efficiency improvements Efficiency 12M rolling Costs Net operating income Revenue