Banco Santander, S.a. · BME:SAN
Banco Santander — H1 2025 Earnings Presentation
89 slides from Banco Santander's earnings presentation, Jul 30, 2025
Slide 1: Supplementary information H1 2025
Supplementary information 30 July 2025 H1 2025000
Slide 2: Important information
Important information Non-IFRS and alternative performance measures Banco Santander, S.A. (“Santander”) cautions that this document may contain financial information prepared according to International Financial Reporting Standards (IFRS) and taken from our consolidated financial statements, as well
Slide 3: Important information
Important information • acquisitions, integrations, divestitures and challenges arising from deviating management’s resources and attention from other strategic opportunities and operational matters; • climate-related conditions, regulations, targets and weather events; • uncertainty over the scope
Slide 4: Additional notes
Additional notes Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. We apply the official ARS exchange rate except in the periods between Q2 2024 and Q1 2025, when we applied an alternative exchange rate for the Argentine peso th
Slide 5: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 5
Slide 6: Santander's capital levels amply exceed minimum regulatory requirements
Santander’s capital levels amply exceed minimum regulatory requirements SREP CAPITAL REQUIREMENTS AND MDA* Jun-25 • CET1 ratio of 13.0%, at the top end of our 12-13% operating range for 2025 17.22% >15% 13.91% +331bps 2.70% T2 • The minimum CET1 to be 2.40% +304bps 1.53% AT1 maintained by the Group
Slide 7: Diversified bond portfolio represents just 8% of total assets
Diversified bond portfolio represents just 8% of total assets BOND PORTFOLIO %, Jun-25 Rest of the Group Chile €142bn 6% 3% Brazil Liquidity 10% Spain portfolio €33bn 29% • Bond portfolio represents 8% of total assets US 10% €142bn o/w HTC €96bn (68%) • HTC&S duration: 1.8 years ALCO IRRBB Mexico €1
Slide 8: Conservative and decentralized liquidity and funding model
Conservative and decentralized liquidity and funding model €23.3bn1 ISSUED IN PUBLIC MARKETS IN H1'25 VERY MANAGEABLE MATURITY PROFILE € bn, Jun-25 € bn, Jun-25 13.7 Covered 11.1 11.8 7.5 5.7 Bonds 0.9 11.3 1.2 24.4 2.2 7.1 Senior 12.4 14.2 10.5 0.9 5.3 3.3 2.3 1.8 4.6 1.1 0.1 0.9 2 19.6 3.2 4.8 4.1
Slide 9: 2025 issuances against funding plan
2025 issuances against funding plan EXE XECU CUTION TION OF 2025 FUND FUNDING ING P PLLAN € bn, Jun-25 AT1 + Tier 2 SNP + Senior Covered Bonds TOTAL Plan Issued Plan Issued Plan Issued Plan Issued 1 2 2 Banco Santander, S.A. 0 - 0.5 0.3 13 - 14 13.6 3-5 0.5 16 - 19.5 14.4 3 4 4 UK - - 4.5 - 6.5 3.4
Slide 10: Update of the 2025 issuances funding plan - Banco Santander, S.A.
Update of the 2025 issuances funding plan - Banco Santander, S.A. 2025 FUNDING PLAN - BANCO SANTANDER, S.A. € bn, Jun-25 Original Adjusted Pre-funding Executed in Total Funding Plan Funding Plan in 2024 2025 executed 2025 2025 AT1 + Tier 2 0 - 0.5 0 - 0.5 1 0.0 0.3 0.3 SNP + SP 20 - 21 13 - 14 2 7.8
Slide 11: TLAC/MREL for the Resolution Group headed by Banco Santander, S.A.
TLAC/MREL for the Resolution Group headed by Banco Santander, S.A. TLAC MREL %, Jun-25(e) % and € bn, Jun-25(e) Requirement Requirement CBR CBR 167.2 40.1% Buffer Buffer 26.8% 4.1% 26.4 Senior 4.1% 4.7% 33.5 SNP 4.1% 0.6 Sub debt 11.9 T2 9.2 AT1 2 16.2% Req. Req. 22.1% 8.4% 36.0% 31.9% 3.4% 18.0% 1.
Slide 12: Well-funded, diversified, prudent and highly liquid balance sheet
Well-funded, diversified, prudent and highly liquid balance sheet (large % contribution from customer deposits), reflected in solid liquidity ratios LIQUIDITY BALANCE SHEET € bn, Jun-25 Liquidity Coverage Net Stable Funding Ratio (LCR) Ratio (NSFR) 1,544 1,544 1 Jun-25 Mar-25 Mar-25 Loans and Spain
Slide 13: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 13
Slide 14: NIM (%)
NIM (%) NII / Average earning assets Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Retail & Commercial Banking 3.19 3.18 3.14 3.26 3.12 3.05 Spain 2.55 2.75 2.66 2.48 2.57 2.38 United Kingdom 1.41 1.46 1.53 1.58 1.59 1.53 Mexico 5.78 5.80 5.98 6.23 6.14 6.22 Brazil 7.87 7.91 8.06 7.67 8.35 8.62 Digital Consum
Slide 15: Yield on loans (%)
Yield on loans (%) Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Retail & Commercial Banking 6.49 6.48 6.39 6.50 6.39 6.26 Spain 4.10 4.09 4.06 3.89 3.78 3.59 United Kingdom 3.79 3.93 4.07 4.13 4.14 4.12 Mexico 13.82 13.73 13.78 13.67 13.33 12.38 Brazil 16.24 16.46 16.57 16.70 16.54 17.23 Digital Consumer Ban
Slide 16: Cost of deposits (%)
Cost of deposits (%) Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Retail & Commercial Banking 2.38 2.20 2.15 2.13 2.04 2.04 Spain 0.65 0.69 0.73 0.75 0.57 0.45 United Kingdom 2.16 2.15 2.07 2.00 1.93 1.92 Mexico 5.21 5.17 4.88 4.44 4.07 3.73 Brazil 7.22 7.12 7.26 7.33 8.24 9.00 Digital Consumer Bank 2.15 2.2
Slide 17: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 17
Slide 18: Efficiency ratio (%)
Efficiency ratio (%) Q1'24 H1'24 9M'24 2024 Q1'25 H1'25 Retail & Commercial Banking 40.7 39.2 39.1 39.5 39.4 39.4 Digital Consumer Bank 41.2 40.6 40.7 40.1 41.9 41.5 Corporate & Investment Banking 41.6 43.3 44.3 45.5 42.9 43.7 Wealth Management & Insurance 37.9 37.2 37.3 38.2 36.5 35.7 Payments 48.4
Slide 19: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 19
Slide 20: Stage coverage
Stage coverage Exposure subject to impairment (EUR billion)* Coverage Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Stage 1 1,007 1,008 1,008 1,002 1,012 989 0.4% 0.4% 0.4% 0.4% 0.4% 0.3% Stage 2 83 94 87 88 87 85 6.3% 5.6% 5.7% 5.6% 5.6% 5.7% Stage 3 36 35 36 3
Slide 21: NPL ratio (%)
NPL ratio (%) Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Retail & Commercial Banking 3.21 3.14 3.27 3.18 3.12 3.06 Digital Consumer Bank 4.86 4.81 4.89 5.07 5.09 4.97 Corporate & Investment Banking 1.19 1.03 0.86 0.83 0.75 0.71 Wealth Management & Insurance 0.93 1.08 1.01 0.93 0.98 0.96 Payments 4.99
Slide 22: NPL coverage ratio (%)
NPL coverage ratio (%) Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Retail & Commercial Banking 60.7 61.6 57.9 58.5 59.0 59.8 Digital Consumer Bank 76.1 75.9 74.4 73.6 75.0 76.4 Corporate & Investment Banking 43.0 36.0 35.5 39.0 39.3 45.1 Wealth Management & Insurance 56.2 59.1 63.5 71.2 66.4 70.3 Paym
Slide 23: Credit impaired loans and loan-loss allowances
Credit impaired loans and loan-loss allowances Credit impaired loans Loan-loss allowances Payments, Payments, Wealth, 0.7% 3.9% 7.6% Wealth, 0.8% CIB, 5.3% CIB, 3.5% Retail, Consumer, Retail, 58.4% 31.7% Consumer, 52.0% 36.1% Rest of the Argentina, 2% Rest of the Argentina, 1% Group, 1% Group, 1% Ch
Slide 24: Cost of risk (%)
Cost of risk (%) Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Retail & Commercial Banking 1.03 1.03 0.98 0.92 0.91 0.89 Digital Consumer Bank 2.12 2.17 2.12 2.16 2.14 2.09 Corporate & Investment Banking 0.14 0.15 0.21 0.09 0.08 0.09 Wealth Management & Insurance (0.06) 0.07 0.09 0.19 0.20 0.20 Payments
Slide 25: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 25
Slide 26: Grupo Santander (EUR mn)
Grupo Santander (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 11,983 11,474 11,225 11,986 11,378 11,338 -0.4% 23,457 22,716 -3.2% Net fee income 3,240 3,237 3,189 3,344 3,369 3,315 -1.6% 6,477 6,684
Slide 27: Grupo Santander (Constant EUR mn)
GRUPO SANTANDER (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 11,425 10,991 11,106 11,894 11,219 11,497 +2.5% 22,416 22,716 +1.3% Net fee income 3,060 3,074 3,147 3,317 3,324 3,360 +1.1% 6,1
Slide 28: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 28
Slide 29: Retail & Commercial Banking (EUR mn)
Retail & Commercial Banking (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 7,139 6,857 6,807 7,134 6,721 6,618 -1.5% 13,996 13,339 -4.7% Net fee income 1,205 1,184 1,153 1,164 1,210 1,187 -1.9% 2,390
Slide 30: Retail & Commercial Banking (Constant EUR mn)
Retail & Commercial Banking (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 6,781 6,554 6,719 7,090 6,647 6,693 +0.7% 13,335 13,339 +0.0% Net fee income 1,121 1,107 1,133 1,160 1,195 1,201 +0.
Slide 31: Retail & Commercial Banking Spain (EUR mn)
Retail & Commercial Banking Spain (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,472 1,471 1,495 1,430 1,467 1,448 -1.3% 2,943 2,915 -1.0% Net fee income 283 276 270 245 291 269 -7.6% 560 560 +0.1%
Slide 32: Retail & Commercial Banking UK (EUR mn)
Retail & Commercial Banking UK (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,119 1,128 1,189 1,236 1,224 1,174 -4.1% 2,248 2,398 +6.7% Net fee income 1 (16) (2) (15) 5 2 -55.2% (15) 7 — Gains (loss
Slide 33: Retail & Commercial Banking UK (Constant EUR mn)
Retail & Commercial Banking UK (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,138 1,143 1,192 1,222 1,214 1,184 -2.5% 2,280 2,398 +5.2% Net fee income 1 (16) (2) (15) 5 2 -54.1% (15) 7 — Ga
Slide 34: Retail & Commercial Banking UK (GBP mn)
Retail & Commercial Banking UK (GBP mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 958 963 1,004 1,029 1,023 997 -2.5% 1,921 2,020 +5.2% Net fee income 1 (13) (2) (13) 4 2 -54.1% (13) 6 — Gains (losses) on
Slide 35: Retail & Commercial Banking Mexico (EUR mn)
Retail & Commercial Banking Mexico (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 819 804 747 765 756 735 -2.8% 1,622 1,491 -8.1% Net fee income 175 197 171 156 171 177 +3.0% 372 348 -6.5% Gains (loss
Slide 36: Retail & Commercial Banking Mexico (Constant EUR mn)
Retail & Commercial Banking Mexico (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 693 684 712 748 745 746 +0.1% 1,376 1,491 +8.4% Net fee income 148 168 163 154 169 179 +6.0% 316 348 +10.2% G
Slide 37: Retail & Commercial Banking Mexico (MXN mn)
Retail & Commercial Banking Mexico (MXN mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 15,100 14,901 15,512 16,307 16,244 16,262 +0.1% 30,000 32,506 +8.4% Net fee income 3,233 3,654 3,557 3,350 3,683 3,903
Slide 38: Retail & Commercial Banking Brazil (EUR mn)
Retail & Commercial Banking Brazil (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,759 1,740 1,695 1,600 1,534 1,503 -2.0% 3,499 3,036 -13.2% Net fee income 397 409 376 348 359 333 -7.3% 807 692 -14.
Slide 39: Retail & Commercial Banking Brazil (Constant EUR mn)
Retail & Commercial Banking Brazil (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,504 1,552 1,639 1,584 1,501 1,535 +2.3% 3,056 3,036 -0.7% Net fee income 340 365 364 346 351 341 -3.1% 705
Slide 40: Retail & Commercial Banking Brazil (BRL mn)
Retail & Commercial Banking Brazil (BRL mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 9,456 9,756 10,300 9,959 9,436 9,650 +2.3% 19,211 19,086 -0.7% Net fee income 2,135 2,294 2,290 2,174 2,209 2,140 -3.1
Slide 41: Digital Consumer Bank (EUR mn)
Digital Consumer Bank (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 2,710 2,655 2,614 2,797 2,756 2,747 -0.3% 5,366 5,504 +2.6% Net fee income 354 387 373 394 339 341 +0.5% 742 681 -8.2% Gains (losse
Slide 42: Digital Consumer Bank (Constant EUR mn)
Digital Consumer Bank (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 2,656 2,604 2,611 2,766 2,703 2,801 +3.6% 5,260 5,504 +4.6% Net fee income 345 376 371 391 335 346 +3.3% 721 681 -5.7% Gai
Slide 43: Digital Consumer Bank Europe (EUR mn)
Digital Consumer Bank Europe (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,095 1,092 1,069 1,105 1,112 1,155 +3.8% 2,187 2,266 +3.6% Net fee income 220 231 229 222 188 185 -1.5% 451 372 -17.4% Gain
Slide 44: Digital Consumer Bank Europe (Constant EUR mn)
Digital Consumer Bank Europe (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,094 1,093 1,071 1,107 1,110 1,156 +4.1% 2,186 2,266 +3.7% Net fee income 220 231 229 222 187 185 -1.3% 451 372 -1
Slide 45: Digital Consumer Bank US (EUR mn)
Digital Consumer Bank US (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,143 1,179 1,138 1,191 1,221 1,129 -7.5% 2,322 2,350 +1.2% Net fee income 64 67 75 97 84 90 +6.7% 131 175 +32.8% Gains (losses)
Slide 46: Digital Consumer Bank US (Constant EUR mn)
Digital Consumer Bank US (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,136 1,163 1,145 1,164 1,177 1,173 -0.3% 2,299 2,350 +2.2% Net fee income 64 66 75 95 81 93 +14.4% 130 175 +34.1% Gain
Slide 47: Digital Consumer Bank US (USD mn)
Digital Consumer Bank US (USD mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,240 1,270 1,250 1,271 1,285 1,281 -0.3% 2,510 2,566 +2.2% Net fee income 70 72 82 103 89 102 +14.4% 142 191 +34.1% Gains (loss
Slide 48: Corporate & Investment Banking (EUR mn)
Corporate & Investment Banking (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,053 962 895 1,079 953 1,013 +6.4% 2,015 1,966 -2.4% Net fee income 654 626 612 656 716 637 -11.1% 1,280 1,353 +5.7% Gain
Slide 49: Corporate & Investment Banking (Constant EUR mn)
Corporate & Investment Banking (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 991 904 885 1,075 936 1,030 +10.0% 1,895 1,966 +3.7% Net fee income 635 608 610 650 705 647 -8.2% 1,243 1,353 +8.
Slide 50: Wealth Management & Insurance (EUR mn)
Wealth Management & Insurance (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 449 430 419 408 375 354 -5.8% 879 729 -17.1% Net fee income 365 356 369 408 419 423 +1.0% 721 842 +16.8% Gains (losses) on
Slide 51: Wealth Management & Insurance (Constant EUR mn)
Wealth Management & Insurance (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 442 423 418 406 371 358 -3.4% 866 729 -15.8% Net fee income 355 346 366 404 414 429 +3.6% 701 842 +20.2% Gains (lo
Slide 52: Payments (EUR mn)
Payments (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 662 639 586 680 685 726 +5.9% 1,302 1,411 +8.4% Net fee income 662 682 691 725 693 734 +6.0% 1,344 1,428 +6.2% Gains (losses) on financial trans
Slide 53: Payments (Constant EUR mn)
Payments (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 586 574 568 670 674 737 +9.4% 1,161 1,411 +21.6% Net fee income 606 635 675 715 684 744 +8.8% 1,241 1,428 +15.1% Gains (losses) on fina
Slide 54: PagoNxt (EUR mn)
PagoNxt (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 31 31 35 35 38 42 +10.8% 62 80 +29.4% Net fee income 224 233 241 261 245 265 +8.4% 456 510 +11.7% Gains (losses) on financial transactions and ot
Slide 55: PagoNxt (Constant EUR mn)
PagoNxt (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 27 29 34 34 38 43 +14.5% 55 80 +45.1% Net fee income 203 216 236 257 242 268 +11.0% 419 510 +21.7% Gains (losses) on financial transacti
Slide 56: Cards (EUR mn)
Cards (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 632 608 551 645 647 683 +5.6% 1,239 1,330 +7.3% Net fee income 438 449 450 464 449 469 +4.6% 888 918 +3.4% Gains (losses) on financial transactions
Slide 57: Cards (Constant EUR mn)
Cards (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 559 546 534 636 636 694 +9.1% 1,105 1,330 +20.4% Net fee income 402 420 439 458 442 476 +7.5% 822 918 +11.7% Gains (losses) on financial t
Slide 58: Corporate Centre (EUR mn)
Corporate Centre (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income (31) (69) (95) (113) (112) (120) +7.7% (100) (232) +132.9% Net fee income (1) 2 (8) (3) (9) (7) -20.8% 1 (16) — Gains (losses) on financ
Slide 59: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 59
Slide 60: Spain (EUR mn)
Spain (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,816 1,840 1,799 1,802 1,779 1,806 +1.5% 3,656 3,585 -1.9% Net fee income 746 738 707 676 767 735 -4.1% 1,484 1,503 +1.3% Gains (losses) on financ
Slide 61: United Kingdom (EUR mn)
United Kingdom (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,185 1,196 1,256 1,313 1,298 1,244 -4.2% 2,381 2,543 +6.8% Net fee income 79 64 80 61 82 84 +2.2% 142 166 +16.8% Gains (losses) on financ
Slide 62: United Kingdom (Constant EUR mn)
United Kingdom (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,205 1,211 1,260 1,298 1,288 1,255 -2.6% 2,416 2,543 +5.2% Net fee income 80 64 80 60 82 85 +3.8% 144 166 +15.1% Gains (losses)
Slide 63: United Kingdom (GBP mn)
United Kingdom (GBP mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,015 1,020 1,061 1,093 1,085 1,057 -2.6% 2,035 2,142 +5.2% Net fee income 67 54 68 51 69 71 +3.8% 122 140 +15.1% Gains (losses) on financ
Slide 64: Portugal (EUR mn)
Portugal (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 431 413 373 332 348 336 -3.3% 844 684 -18.9% Net fee income 127 115 115 110 126 129 +2.7% 242 255 +5.0% Gains (losses) on financial transactions
Slide 65: Poland (EUR mn)
Poland (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 686 697 727 733 744 736 -1.2% 1,384 1,480 +7.0% Net fee income 176 163 170 166 189 184 -3.0% 339 373 +10.1% Gains (losses) on financial transactio
Slide 66: Poland (Constant EUR mn)
Poland (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 703 709 736 747 739 741 +0.2% 1,412 1,480 +4.8% Net fee income 180 166 172 169 188 185 -1.6% 345 373 +7.9% Gains (losses) on financial tr
Slide 67: Poland (PLN mn)
Poland (PLN mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 2,973 2,999 3,115 3,158 3,126 3,134 +0.2% 5,972 6,260 +4.8% Net fee income 761 700 727 714 795 783 -1.6% 1,461 1,578 +7.9% Gains (losses) on finan
Slide 68: Digital Consumer Bank Europe (EUR mn)
Digital Consumer Bank Europe (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,095 1,092 1,069 1,105 1,112 1,155 +3.8% 2,187 2,266 +3.6% Net fee income 220 231 229 222 188 185 -1.5% 451 372 -17.4% Gain
Slide 69: Digital Consumer Bank Europe (Constant EUR mn)
Digital Consumer Bank Europe (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,094 1,093 1,071 1,107 1,110 1,156 +4.1% 2,186 2,266 +3.7% Net fee income 220 231 229 222 187 185 -1.3% 451 372 -1
Slide 70: United States (EUR mn)
United States (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,396 1,428 1,411 1,458 1,499 1,450 -3.3% 2,824 2,949 +4.4% Net fee income 267 272 296 317 355 323 -8.8% 539 678 +25.8% Gains (losses) on f
Slide 71: United States (Constant EUR mn)
United States (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,388 1,408 1,420 1,424 1,445 1,504 +4.1% 2,796 2,949 +5.5% Net fee income 265 269 298 310 342 336 -1.7% 534 678 +27.1% Gains (los
Slide 72: United States (USD mn)
United States (USD mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,516 1,537 1,550 1,555 1,577 1,642 +4.1% 3,053 3,219 +5.5% Net fee income 290 293 325 338 373 367 -1.7% 583 741 +27.1% Gains (losses) on f
Slide 73: Mexico (EUR mn)
Mexico (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,214 1,207 1,113 1,097 1,129 1,109 -1.8% 2,421 2,238 -7.6% Net fee income 359 374 329 322 350 339 -3.1% 733 689 -6.0% Gains (losses) on financial
Slide 74: Mexico (Constant EUR mn)
Mexico (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,027 1,027 1,060 1,076 1,113 1,125 +1.1% 2,054 2,238 +8.9% Net fee income 304 318 314 317 345 344 -0.2% 622 689 +10.8% Gains (losses) on
Slide 75: Mexico (MXN mn)
Mexico (MXN mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 22,390 22,383 23,112 23,448 24,260 24,518 +1.1% 44,773 48,777 +8.9% Net fee income 6,621 6,937 6,850 6,903 7,520 7,504 -0.2% 13,559 15,024 +10.8%
Slide 76: Brazil (EUR mn)
Brazil (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 2,630 2,605 2,474 2,413 2,402 2,338 -2.7% 5,235 4,740 -9.5% Net fee income 846 888 833 846 793 757 -4.6% 1,734 1,549 -10.7% Gains (losses) on fina
Slide 77: Brazil (Constant EUR mn)
Brazil (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 2,249 2,323 2,396 2,386 2,351 2,389 +1.6% 4,572 4,740 +3.7% Net fee income 724 791 806 834 776 773 -0.3% 1,515 1,549 +2.3% Gains (losses)
Slide 78: Brazil (BRL mn)
Brazil (BRL mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 14,135 14,604 15,058 14,998 14,776 15,019 +1.6% 28,739 29,795 +3.7% Net fee income 4,549 4,973 5,065 5,243 4,877 4,862 -0.3% 9,521 9,739 +2.3% Gai
Slide 79: Chile (EUR mn)
Chile (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 352 472 482 516 512 490 -4.3% 824 1,002 +21.7% Net fee income 129 137 146 140 151 145 -4.0% 265 297 +11.8% Gains (losses) on financial transactions
Slide 80: Chile (Constant EUR mn)
Chile (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 347 456 472 508 498 504 +1.3% 803 1,002 +24.8% Net fee income 127 132 143 138 147 150 +1.7% 259 297 +14.7% Gains (losses) on financial tra
Slide 81: Chile (CLP mn)
Chile (CLP mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 361,759 475,476 491,886 529,884 519,215 525,944 +1.3% 837,235 1,045,159 +24.8% Net fee income 132,221 137,526 148,628 143,434 153,370 155,955 +1.7%
Slide 82: Argentina (EUR mn)
Argentina (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 1,025 397 390 1,107 416 523 +25.7% 1,423 939 -34.0% Net fee income 131 73 111 287 172 217 +25.9% 204 390 +90.9% Gains (losses) on financial tra
Slide 83: Argentina (Argentine peso mn)
Argentina (Argentine peso mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 949,444 1,183,149 799,603 665,292 593,186 722,372 +21.8% 2,132,594 1,315,558 -38.3% Net fee income 121,575 184,297 204,428 232,193 2
Slide 84: Rest of the Group (EUR mn)
Rest of the Group (EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 183 196 228 225 250 272 +8.8% 379 522 +37.7% Net fee income 162 180 181 199 205 224 +9.2% 342 428 +25.1% Gains (losses) on financial tr
Slide 85: Rest of the Group (Constant EUR mn)
Rest of the Group (Constant EUR mn) Change Change Underlying income statement Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q2'25 / Q1'25 H1'24 H1'25 H1'25 / H1'24 Net interest income 172 183 225 221 243 278 +14.3% 355 522 +46.9% Net fee income 158 175 181 197 201 227 +13.2% 333 428 +28.4% Gains (losses) on f
Slide 86: Supplementary information
Supplementary information Balance sheet and capital management NIM, yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 86
Slide 87: Glossary - Acronyms
Glossary - Acronyms • ALCO: Assets and Liabilities Committee • LCR: Liquidity coverage ratio • AT1: Additional Tier 1 • LLPs: Loan-loss provisions • bn: Billion • M/LT: Medium- and long-term • Bps: basis points • mn: million • CBR: Combined Buffer Requirement • MREL: Minimum requirement for own fund
Slide 88: Glossary - Definitions
Glossary - Definitions EFFICIENCY • Efficiency: Underlying operating expenses / Underlying total income. Operating expenses defined as administrative expenses + amortizations CREDIT RISK • NPL ratio: Credit impaired customer loans and advances, guarantees and undrawn balances / Total risk. Total ris
Slide 89: 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: