Banco Santander, S.a. · BME:SAN
Banco Santander — Q1 2023 Earnings Presentation
75 slides from Banco Santander's earnings presentation, Apr 25, 2023
Slide 1: Form 6-K
FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of April, 2023 Commission File Number: 001-12518 Banco Santander, S.A. (Exact name of registrant as specified in its char
Slide 2: Table of Contents
BANCO SANTANDER, S.A. ________________________ TABLE OF CONTENTS Item 1. January - March 2023 Earnings presentation (Supplementary information)
Slide 3: Q1'23 Earnings presentation: Supplementary information
Q1’23 Earnings presentation v080323pm Earnings presentation: Supplementary information — Q1’23 25 April 2023
Slide 4: Important information
2 Important information Non-IFRS and alternative performance measures This presentation contains financial information prepared according to International Financial Reporting Standards (IFRS) and taken from our consolidated financial statements, as well as alternative performance measures (APMs) as
Slide 5: Important information
3 Important information The following important factors (and others described elsewhere in this presentation and other risk factors, uncertainties or contingencies detailed in our most recent Form 20-F and subsequent 6-Ks filed with, or furnished to, the SEC), as well as other unknown or unpredictab
Slide 6: Supplementary information
4 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 7: Well-funded, diversified, prudent and highly liquid balance sheet
5 Well-funded, diversified, prudent and highly liquid balance sheet (large % contribution from customer deposits), reflected in solid liquidity ratios Liquidity Balance Sheet Note: Liquidity balance sheet for management purposes (net of trading derivatives and interbank balances). (1) Provisional da
Slide 8: Diversified bond portfolio represents just 6% of total assets
6 Diversified bond portfolio represents just 6% of total assets Bond portfolio %, Mar-23 ALCO IRRBB €81bn Liquidity portfolio €30bn €111bn €111bn o/w HTC €60bn SCF 7% Spain 20% UK 4% Poland 10% Portugal 2%USA 14% Mexico 16% Brazil 11% Chile 11% Other South America 5%
Slide 9: Conservative and decentralized liquidity and funding model
7 Conservative and decentralized liquidity and funding model (1) Data includes public issuances from all units with period-average exchange rates. Excludes securitizations. (2) Includes Banco Santander, S.A. and Santander International Products PLC. Note: preference shares also includes other AT1 in
Slide 10: 2023 funding plan and 2023 YTD issuances
8 2023 funding plan and 2023 YTD issuances Execution of 2023 funding plan Continue fulfilling the 1.5% AT1 and 2% T2 buffers subject to RWA growth. MREL & TLAC ratios above regulatory requirements. Liquidity position remains solid, with LCR and NFSR above minimum requirements and ample liquidi
Slide 11: Capital levels exceed minimum regulatory requirements
9 Santander’s capital levels, both phased-in and fully loaded, exceed minimum regulatory requirements 4.50% 12.21% 11-12% 0.89% 2.50% 1.00% CCyB, 0.18% 1.80% 1.44% 1.50%2.40% 2.15% 2.00% 13.26% 15.81% >15% Assumed regulatory requirement 2023 Group ratios Mar-23 Medium-term target ratios Assumed capi
Slide 12: TLAC/MREL for the Resolution Group headed by Banco Santander, S.A.
10 TLAC/MREL for the Resolution Group headed by Banco Santander, S.A. Note: Figures applying the IFRS 9 transitional arrangements. Provisional data. (1) TLAC RWAs are €292bn and leverage exposure (LE) is €802bn. MREL RWAs are €383bn and leverage exposure is €867bn. (2) MREL Requirement based on RWAs
Slide 13: Supplementary information
11 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 14: Yield on loans (%)
12 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Europe 2.09 2.23 2.46 2.87 3.45 Spain 1.72 1.77 1.96 2.46 3.31 United Kingdom 2.25 2.33 2.46 2.71 2.94 Portugal 1.46 1.48 1.69 2.37 3.33 Poland 4.64 6.22 7.28 7.64 8.26 North America 7.32 7.62 8.13 8.75 9.46 US 6.25 6.39 6.89 7.35 7.88 Mexico 10.42 11.07 11.81 12.80
Slide 15: Cost of deposits (%)
13 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Europe 0.08 0.14 0.25 0.53 0.81 Spain 0.05 0.05 0.09 0.22 0.53 United Kingdom 0.12 0.21 0.35 0.79 1.10 Portugal 0.01 0.02 0.02 0.04 0.14 Poland 0.16 0.49 1.00 1.58 1.75 North America 0.73 0.88 1.22 1.87 2.68 US 0.09 0.22 0.50 1.07 1.67 Mexico 2.39 2.58 3.08 3.91 4.98
Slide 16: Supplementary information
14 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 17: Stage coverage
15 Exposure ¹ Coverage Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Stage 1 967 998 1,030 1,004 1,005 0.5% 0.5% 0.5% 0.4% 0.4% Stage 2 68 66 70 69 72 8.0% 8.5% 7.7% 7.7% 7.4% Stage 3 36 34 36 35 34 41.0% 40.1% 41.0% 40.8% 40.1% Stage coverage 1) Exposure subject to impairmen
Slide 18: NPL ratio (%)
16 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Europe 3.01 2.63 2.58 2.37 2.35 Spain 4.47 3.83 3.69 3.27 3.19 United Kingdom 1.42 1.17 1.16 1.21 1.27 Portugal 3.42 3.33 3.03 2.99 3.05 Poland 3.50 3.45 3.63 3.80 3.66 North America 2.83 2.71 2.79 3.03 2.95 US 2.75 2.64 2.92 3.25 3.13 Mexico 3.09 2.95 2.34 2.32
Slide 19: NPL coverage ratio (%)
17 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Europe 49.1 50.2 49.7 51.8 51.2 Spain 50.4 49.4 49.3 51.0 50.2 United Kingdom 26.1 32.9 32.4 33.8 33.1 Portugal 72.8 74.3 76.3 79.3 80.3 Poland 78.5 76.0 74.8 74.0 75.2 North America 110.5 111.4 102.7 93.3 94.9 US 122.2 121.0 102.8 90.3 91.5 Mexico 79.5 84.1 102
Slide 20: Credit impaired loans and loan-loss allowances by operating area
18 Spain, 19.6% UK, 4.6% Portugal, 4.3% Poland, 4.0% Other Europe, 0.1% US, 17.7% Mexico, 5.3% Brazil, 26.2% Chile, 6.1% Argentina, 0.9% Other South America, 0.9% Digital Consumer Bank, 10.4% Spain, 27.2% UK, 9.6% Portugal, 3.7% Poland, 3.7% Other Europe, 0.0% US, 13.5% Mexico, 3.4% Brazil, 22.9% Ch
Slide 21: Cost of risk (%)
19 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Europe 0.37 0.37 0.36 0.39 0.42 Spain 0.88 0.79 0.71 0.61 0.62 United Kingdom (0.08) (0.02) 0.02 0.12 0.12 Portugal 0.03 (0.05) (0.12) 0.04 0.06 Poland 0.65 0.95 1.07 1.43 1.71 North America 0.93 1.09 1.12 1.49 1.62 US 0.49 0.78 0.87 1.35 1.52 Mexico 2.22 2.05 1
Slide 22: Supplementary information
20 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 23: Grupo Santander (EUR mn)
21 GRUPO SANTANDER (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 8,855 9,554 10,051 10,159 10,185 +0.3% 8,855 10,185 +15.0% Net fee income 2,812 3,040 3,015 2,923 3,043 +4.1% 2,812 3,043 +8.2% Gains (losse
Slide 24: Grupo Santander (Constant EUR mn)
22 GRUPO SANTANDER (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 8,938 9,231 9,638 10,191 10,185 -0.1% 8,938 10,185 +13.9% Net fee income 2,840 2,947 2,914 2,959 3,043 +2.8% 2,840 3,043 +7.2% Gain
Slide 25: Europe (EUR mn)
23 Europe (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2,839 2,981 3,179 3,567 3,597 +0.8% 2,839 3,597 +26.7% Net fee income 1,154 1,162 1,125 1,051 1,168 +11.1% 1,154 1,168 +1.2% Gains (losses) on financ
Slide 26: Europe (Constant EUR mn)
24 Europe (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2,770 2,925 3,139 3,545 3,597 +1.5% 2,770 3,597 +29.8% Net fee income 1,148 1,156 1,121 1,049 1,168 +11.4% 1,148 1,168 +1.8% Gains (losses)
Slide 27: Spain (EUR mn)
25 Spain (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 998 1,017 1,119 1,405 1,460 +4.0% 998 1,460 +46.4% Net fee income 745 730 697 646 752 +16.4% 745 752 +0.8% Gains (losses) on financial transactions an
Slide 28: United Kingdom (EUR mn)
26 United Kingdom (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 1,192 1,227 1,277 1,297 1,283 -1.1% 1,192 1,283 +7.6% Net fee income 92 110 93 95 83 -12.8% 92 83 -10.4% Gains (losses) on financial transact
Slide 29: United Kingdom (Constant EUR mn)
27 United Kingdom (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 1,129 1,178 1,237 1,276 1,283 +0.5% 1,129 1,283 +13.6% Net fee income 87 105 90 93 83 -11.5% 87 83 -5.4% Gains (losses) on financial
Slide 30: United Kingdom (GBP mn)
28 United Kingdom (GBP mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 997 1,040 1,092 1,127 1,133 +0.5% 997 1,133 +13.6% Net fee income 77 93 80 82 73 -11.5% 77 73 -5.4% Gains (losses) on financial transactions
Slide 31: Portugal (EUR mn)
29 Portugal (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 170 171 175 231 261 +13.0% 170 261 +53.6% Net fee income 122 123 121 118 124 +5.0% 122 124 +1.6% Gains (losses) on financial transactions and other
Slide 32: Poland (EUR mn)
30 Poland (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 407 486 530 552 586 +6.2% 407 586 +43.8% Net fee income 138 130 135 125 145 +15.8% 138 145 +5.0% Gains (losses) on financial transactions and other (
Slide 33: Poland (Constant EUR mn)
31 Poland (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 400 480 533 553 586 +6.0% 400 586 +46.6% Net fee income 135 128 136 126 145 +15.4% 135 145 +7.1% Gains (losses) on financial transactions an
Slide 34: Poland (PLN mn)
32 Poland (PLN mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 1,881 2,261 2,510 2,602 2,759 +6.0% 1,881 2,759 +46.6% Net fee income 637 605 641 591 682 +15.4% 637 682 +7.1% Gains (losses) on financial transactio
Slide 35: Other Europe (EUR mn)
33 Other Europe (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 72 80 77 83 7 -91.8% 72 7 -90.6% Net fee income 56 69 79 68 65 -3.6% 56 65 +15.9% Gains (losses) on financial transactions and other 21 9 7 (13
Slide 36: Other Europe (Constant EUR mn)
34 Other Europe (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 74 80 74 80 7 -91.6% 74 7 -90.8% Net fee income 58 69 77 66 65 -1.3% 58 65 +12.9% Gains (losses) on financial transactions and other 2
Slide 37: North America (EUR mn)
35 North America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2,131 2,352 2,619 2,603 2,448 -5.9% 2,131 2,448 +14.9% Net fee income 443 494 513 508 521 +2.6% 443 521 +17.7% Gains (losses) on financial tra
Slide 38: North America (Constant EUR mn)
36 North America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2,307 2,399 2,539 2,534 2,448 -3.4% 2,307 2,448 +6.1% Net fee income 488 512 505 500 521 +4.2% 488 521 +6.8% Gains (losses) on financ
Slide 39: United States (EUR mn)
37 United States (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 1,378 1,499 1,669 1,594 1,465 -8.1% 1,378 1,465 +6.3% Net fee income 197 198 194 183 190 +3.4% 197 190 -3.6% Gains (losses) on financial trans
Slide 40: United States (Constant EUR mn)
38 United States (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 1,441 1,488 1,569 1,517 1,465 -3.4% 1,441 1,465 +1.7% Net fee income 206 196 180 174 190 +9.1% 206 190 -7.8% Gains (losses) on financ
Slide 41: United States (USD mn)
39 United States (USD mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 1,546 1,597 1,684 1,627 1,572 -3.4% 1,546 1,572 +1.7% Net fee income 221 210 193 186 203 +9.1% 221 203 -7.8% Gains (losses) on financial trans
Slide 42: Mexico (EUR mn)
40 Mexico (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 753 853 950 1,009 983 -2.6% 753 983 +30.5% Net fee income 245 283 303 309 320 +3.6% 245 320 +30.3% Gains (losses) on financial transactions and other
Slide 43: Mexico (Constant EUR mn)
41 Mexico (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 865 911 970 1,017 983 -3.4% 865 983 +13.6% Net fee income 282 303 308 310 320 +3.1% 282 320 +13.4% Gains (losses) on financial transactions
Slide 44: Mexico (MXN mn)
42 Mexico (MXN mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 17,319 18,241 19,417 20,360 19,669 -3.4% 17,319 19,669 +13.6% Net fee income 5,641 6,061 6,170 6,210 6,400 +3.1% 5,641 6,400 +13.4% Gains (losses) on
Slide 45: Other North America (EUR mn)
43 Other North America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 0 (0) (0) 0 0 +87.7% 0 0 +23.8% Net fee income 1 13 17 16 12 -25.1% 1 12 — Gains (losses) on financial transactions and other 1 4 6 11 1
Slide 46: Other North America (Constant EUR mn)
44 Other North America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 0 (0) (0) 0 0 +87.7% 0 0 +23.8% Net fee income 1 13 17 16 12 -25.1% 1 12 — Gains (losses) on financial transactions and other 1
Slide 47: South America (EUR mn)
45 South America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 3,037 3,390 3,411 3,141 3,163 +0.7% 3,037 3,163 +4.1% Net fee income 1,013 1,162 1,174 1,165 1,166 +0.0% 1,013 1,166 +15.1% Gains (losses) on
Slide 48: South America (Constant EUR mn)
46 South America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 3,035 3,093 3,133 3,273 3,163 -3.4% 3,035 3,163 +4.2% Net fee income 1,002 1,060 1,086 1,212 1,166 -3.8% 1,002 1,166 +16.4% Gains (lo
Slide 49: Brazil (EUR mn)
47 Brazil (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2,143 2,279 2,251 2,229 2,105 -5.5% 2,143 2,105 -1.7% Net fee income 743 857 812 884 817 -7.6% 743 817 +10.0% Gains (losses) on financial transaction
Slide 50: Brazil (Constant EUR mn)
48 Brazil (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2,248 2,138 2,128 2,145 2,105 -1.9% 2,248 2,105 -6.4% Net fee income 779 808 767 852 817 -4.1% 779 817 +4.8% Gains (losses) on financial tra
Slide 51: Brazil (BRL mn)
49 Brazil (BRL mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 12,527 11,912 11,859 11,953 11,731 -1.9% 12,527 11,731 -6.4% Net fee income 4,342 4,501 4,275 4,746 4,550 -4.1% 4,342 4,550 +4.8% Gains (losses) on f
Slide 52: Chile (EUR mn)
50 Chile (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 483 554 402 332 371 +11.7% 483 371 -23.2% Net fee income 112 110 120 127 153 +20.7% 112 153 +36.8% Gains (losses) on financial transactions and other
Slide 53: Chile (Constant EUR mn)
51 Chile (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 503 573 433 358 371 +3.7% 503 371 -26.2% Net fee income 117 113 128 136 153 +12.9% 117 153 +31.4% Gains (losses) on financial transactions an
Slide 54: Chile (CLP mn)
52 Chile (CLP mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 437,644 498,964 376,457 311,342 322,790 +3.7% 437,644 322,790 -26.2% Net fee income 101,410 98,614 111,094 117,979 133,249 +12.9% 101,410 133,249 +31.
Slide 55: Argentina (EUR mn)
53 Argentina (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 300 432 616 431 532 +23.5% 300 532 +77.4% Net fee income 121 143 182 97 137 +41.7% 121 137 +13.6% Gains (losses) on financial transactions and oth
Slide 56: Argentina (Constant EUR mn)
54 Argentina (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 163 259 436 623 532 -14.7% 163 532 +226.5% Net fee income 66 86 132 168 137 -18.4% 66 137 +109.2% Gains (losses) on financial transaction
Slide 57: Argentina (ARS mn)
55 Argentina (ARS mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 36,978 58,765 99,007 141,515 120,749 -14.7% 36,978 120,749 +226.5% Net fee income 14,875 19,625 29,856 38,139 31,111 -18.4% 14,875 31,111 +109.2%
Slide 58: Other South America (EUR mn)
56 Other South America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 111 125 142 150 154 +3.3% 111 154 +38.9% Net fee income 38 52 62 58 59 +2.4% 38 59 +56.7% Gains (losses) on financial transactions and o
Slide 59: Other South America (Constant EUR mn)
57 Other South America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 120 123 136 146 154 +5.7% 120 154 +28.2% Net fee income 40 52 59 57 59 +3.8% 40 59 +46.7% Gains (losses) on financial transacti
Slide 60: Digital Consumer Bank (EUR mn)
58 Digital Consumer Bank (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 1,020 1,012 1,000 990 1,029 +4.0% 1,020 1,029 +0.9% Net fee income 206 219 204 215 191 -11.1% 206 191 -7.3% Gains (losses) on financia
Slide 61: Digital Consumer Bank (Constant EUR mn)
59 Digital Consumer Bank (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 999 994 984 982 1,029 +4.8% 999 1,029 +3.0% Net fee income 205 218 203 214 191 -10.9% 205 191 -6.9% Gains (losses) on financi
Slide 62: Corporate Centre (EUR mn)
60 Corporate Centre (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income (172) (181) (157) (142) (52) -63.6% (172) (52) -69.9% Net fee income (3) 2 (2) (16) (3) -78.8% (3) (3) +8.7% Gains (losses) on financial tr
Slide 63: Retail Banking (EUR mn)
61 Retail Banking (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 8,112 8,635 9,058 9,050 8,977 -0.8% 8,112 8,977 +10.7% Net fee income 1,807 1,982 1,968 1,896 1,901 +0.2% 1,807 1,901 +5.2% Gains (losses) on
Slide 64: Retail Banking (Constant EUR mn)
62 Retail Banking (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 8,198 8,364 8,710 9,042 8,977 -0.7% 8,198 8,977 +9.5% Net fee income 1,818 1,915 1,900 1,928 1,901 -1.4% 1,818 1,901 +4.6% Gains (lo
Slide 65: Corporate & Investment Banking (EUR mn)
63 Corporate & Investment Banking (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 783 929 916 919 838 -8.8% 783 838 +7.0% Net fee income 529 500 489 464 619 +33.4% 529 619 +17.0% Gains (losses) on financial
Slide 66: Corporate & Investment Banking (Constant EUR mn)
64 Corporate & Investment Banking (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 781 883 859 959 838 -12.7% 781 838 +7.2% Net fee income 532 484 472 469 619 +31.8% 532 619 +16.4% Gains (losses) on
Slide 67: Wealth Management & Insurance (EUR mn)
65 Wealth Management & Insurance (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 131 167 227 322 413 +28.3% 131 413 +216.3% Net fee income 322 333 328 309 309 -0.2% 322 309 -4.1% Gains (losses) on financial
Slide 68: Wealth Management & Insurance (Constant EUR mn)
66 Wealth Management & Insurance (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 130 162 221 321 413 +28.5% 130 413 +217.8% Net fee income 326 327 318 311 309 -0.8% 326 309 -5.4% Gains (losses) on f
Slide 69: PagoNxt (EUR mn)
67 PagoNxt (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2 3 6 11 9 -13.8% 2 9 +432.4% Net fee income 157 222 231 270 218 -19.2% 157 218 +38.8% Gains (losses) on financial transactions and other 3 11 19 18
Slide 70: PagoNxt (Constant EUR mn)
68 PagoNxt (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q1'23 / Q4'22 Q1'22 Q1'23 Q1'23 / Q1'22 Net interest income 2 3 6 10 9 -11.0% 2 9 +416.3% Net fee income 167 218 226 267 218 -18.2% 167 218 +30.7% Gains (losses) on financial transactions and other 3
Slide 71: Supplementary information
69 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 72: Glossary - Acronyms
70 Glossary - Acronyms ❑ ALCO: Assets and Liabilities Committee ❑ AT1: Additional Tier 1 ❑ AuM: Assets under Management ❑ BFG: Deposit Guarantee Fund in Poland ❑ bn: Billion ❑ Bps: basis points ❑ CBR: Combined buffer requirement ❑ CET1: Common equity tier 1 ❑ CIB: Corporate & Investment Bank ❑ CoR:
Slide 73: Glossary - Definitions
71 Glossary - Definitions Notes: The averages for the RoTE and RoRWA denominators are calculated using the monthly average over the period, which we believe should not differ materially from using daily balances. The risk-weighted assets included in the denominator of the RoRWA metric are calculated
Slide 74: Thank You
Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be:
Slide 75: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Banco Santander, S.A. Date: 25 April 2023 By: /s/ José García Cantera Name: José García Cantera Title: C