Company: BCDRF
Filing Date: 2025-07-30
Form Type: 6-K
Source: 0000891478-25-000103
Chunk: 62

Company: Banco Santander, S.A.
Filing Date: 2025-07-30
Form: 6-K
Chunk 62
---
 Group, defining, developing and coordinating the Group's strategy, as well as aiding the operating units, adding value.                                                                                                                                                 
 →It carries out thecorporate oversight and control function, coordinates interactions with the Group's supervisors and regulatorsand also carries out functions related tofinancial and capital management.                                                                                                           
 →Attributable loss of EUR 713 million in H1 2025,a 17% greater loss year-on-year, impacted by lower interest rates and higher net loan-loss provisions as we accelerate the Group's NPL ratio reductions, partially offset by lower losses on financial transactions driven by a smaller impact from currency hedges. |     |                                |     |             |

Strategy and functions

The Corporate Centre contributes value to the Group, through the following functions, among others: • Global control frameworks and supervision. • Fostering the exchange of best practices in cost management, which enables us to be one of the most efficient banks. • Collaborating in the definition and execution of the global strategy, competitive development operations and projects that ensure we meet the business plan. • Contributing to the launch of projects that will be developed by our global businesses, aimed at leveraging our worldwide presence to generate economies of scale. • Ensuring open and constructive communication with shareholders, analysts, investors, bondholders, rating agencies and other market players. • Adding value to our businesses, countries and divisions by encouraging the exchange of best practices, driving and managing innovative global initiatives and defining corporate policies to improve efficiency in our processes and service quality for our customers. It also coordinates the relationship with European regulators and supervisors and carries out functions related to financial management and capital, as follows: • Financial Management functions : • Structural management of liquidity risk associated with funding the Group’s recurring activity and stakes of a financial nature. At the end of June 2025, the liquidity buffer was EUR 331 billion (provisional data). This is done ensuring the diversification of funding sources (issuances and others), maintaining an adequate profile in volumes, maturities and costs. The price of these transactions with other Group units is the market rate that includes all liquidity concepts (which the Group supports by immobilizing funds during the term of the transaction) and regulatory requirements (TLAC/MREL). • We also actively manage interest rate risk to dampen the impact of interest rate changes on net interest income, conducted via high credit quality, very liquid and low capital consumption derivatives.

• Strategic management of exposure to exchange rates in equity and dynamic management of the FX hedges related to the units