Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 705

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 705
---
, associated allowances and information relating to the collateral and/or other credit enhancements obtained at 31 December 2024:

| EUR million                        |     |        |        |     |        |                      |                            |        |
|                                    |     |        | Gross  
 amount |     |        | Allowance recognised | Estimated collateralvalueA |        |
| Without associated real collateral |     | 14,207 |        |     |  8,037 |                      |                            |      — |
| With real estate collateral        |     |  9,519 |        |     |  2,371 |                      |                            |  6,979 |
| With other collateral              |     | 10,005 |        |     |  3,680 |                      |                            |  5,789 |
| Total                              |     | 33,731 |        |     | 14,088 |                      |                            | 12,768 |

A. Including the estimated value of the collateral associated with each loan. Accordingly, any other cash flows that may be obtained, such as those arising from borrowers’ personal guarantees, are not included.

When classifying assets in the previous table, the main factors considered by the Group to determine whether an asset has become impaired are the existence of amounts past due —assets impaired due to arrears— or other circumstances that may arise which will not result in all contractual cash flows being recovered, such as a deterioration of the borrower’s financial situation, the worsening of its capacity to generate funds or difficulties experienced by it in accessing credit. e) Transferred credits 'Loans and advances to customers' includes, inter alia, the securitised loans transferred to third parties on which the Group has retained the risks and rewards, albeit partially, and which therefore, in accordance with the applicable accounting standards, cannot be derecognised. This is mainly due to mortgage loans, loans to companies and consumer loans in which the group retains subordinate financing and/or grants some kind of credit enhancement to new holders. Securitisation is used as a tool for the management of regulatory capital and as a means of diversifying the Group's liquidity sources.

The breakdown of securitized loans held on the balance sheet, according to the nature of the financial instrument in which they are originated, is shown below:

| EUR million                   |     |        |      |     |        |      |     |        |      |
|                               |     |        | 2024 |     |