Banco Santander, S.a. · BME:SAN
Banco Santander — 9M 2023 Earnings Presentation
77 slides from Banco Santander's earnings presentation, Oct 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 October, 2023 Commission File Number: 001-12518 Banco Santander, S.A. (Exact name of registrant as specified in its ch
Slide 2: Table of Contents
BANCO SANTANDER, S.A. ________________________ TABLE OF CONTENTS Item 1. January - September 2023 Earnings presentation (Supplementary information)
Slide 3: Earnings presentation: Supplementary information 9M'23
Earnings presentation: Supplementary information — 9M’23 25 October 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: Capital levels exceed minimum regulatory requirements
5 Santander’s capital levels, both phased-in and fully loaded, exceed minimum regulatory requirements 4.50% 12.27% 11-12% 0.89% 2.50% 1.00% CCyB, 0.40% 1.80% 1.42% 1.50%2.40% 2.52% 2.00% 13.48% 16.21% >15% Assumed regulatory requirement 2023 Group ratios Sep-23 Medium-term target ratios Assumed capi
Slide 8: Diversified bond portfolio represents just 7% of total assets
6 Diversified bond portfolio represents just 7% of total assets Bond portfolio %, Sep-23 ALCO IRRBB €96bn Liquidity portfolio €30bn Spain 24% Poland 11% Portugal 4% UK 4%SCF 4% Mexico 15% US 12% Brazil 10% Chile 10% Other South America 5% €126bn o/w HTC €72bn (57%) • Bond portfolio represents 7% of
Slide 9: Conservative and decentralized liquidity and funding model
7 Conservative and decentralized liquidity and funding model Very manageable maturity profile€32bn1 issued in public markets in 9M’23 (1) Data includes public issuances from all units with period-average exchange rates. Excludes securitizations. (2) Includes Banco Santander, S.A. and Santander Inter
Slide 10: 9M'23 issuances against funding plan
8 9M’23 issuances against funding plan 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 liquidity buf
Slide 11: TLAC/MREL for the Resolution Group
9 TLAC/MREL for the Resolution Group headed by Banco Santander, S.A. MREL Sep-23(e)TLAC Sep-23(e) Note: Figures applying the IFRS 9 transitional arrangements. Provisional data. (1) TLAC RWAs are €309bn and leverage exposure (LE) is €902bn. MREL RWAs are €404bn and leverage exposure is €963bn. (2) MR
Slide 12: Well-funded, diversified, highly liquid balance sheet
10 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 d
Slide 13: EBA Stress Test: highest profit after tax
11 In the EBA Stress Test, Santander is the bank with highest profit after tax, in both the baseline and adverse scenario Peer Average System 5,098 9,047 10,841 10,984 12,203 12,898 17,725 19,578 19,803 29,850 47,146 P10 P9 P8 P7 P6 P5 P4 P3 P2 P1 Santander -13,916 -10,194 -8,157 -5,036 -3,810 -2,56
Slide 14: Lowest capital impact among peers in adverse scenario
12 Santander had the lowest capital impact among peers in the adverse scenario and, as a result, significantly improved its relative capital position, ending above the peer average Peer Average System CET1 fully loaded: 2022 (%) CET1 fully loaded: adverse scenario 2025 (%) 8.1 8.2 8.4 8.9 9.5 9.7 9.
Slide 15: Supplementary information
13 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 16: Yield on loans (%)
14 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Europe 2.09 2.23 2.46 2.87 3.45 3.82 4.17 Spain 1.72 1.77 1.96 2.46 3.31 3.80 4.27 United Kingdom 2.25 2.33 2.46 2.71 2.94 3.16 3.38 Portugal 1.46 1.48 1.69 2.37 3.33 4.03 4.63 Poland 4.64 6.22 7.28 7.64 8.26 8.42 8.49 North America 7.32 7.62 8.13 8.75 9.
Slide 17: Cost of deposits (%)
15 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Europe 0.08 0.14 0.25 0.53 0.81 1.03 1.24 Spain 0.05 0.05 0.09 0.22 0.53 0.72 0.90 United Kingdom 0.12 0.21 0.35 0.79 1.10 1.37 1.64 Portugal 0.01 0.02 0.02 0.04 0.14 0.26 0.38 Poland 0.16 0.49 1.00 1.58 1.75 1.89 1.91 North America 0.74 0.93 1.35 2.10 2.
Slide 18: Supplementary information
16 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 19: Stage coverage
17 Exposure ¹ Coverage Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Stage 1 967 998 1,030 1,004 1,005 1,011 1,002 0.5% 0.5% 0.5% 0.5% 0.4% 0.4% 0.4% 0.4% Stage 2 68 66 70 69 72 75 77 7.7% 8.0% 8.5% 7.7% 7.7% 7.4% 7.2% 7.0% Stage 3 36 34 36
Slide 20: NPL ratio (%)
18 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Europe 3.01 2.63 2.58 2.37 2.35 2.35 2.32 Spain 4.47 3.83 3.69 3.27 3.19 3.11 3.06 United Kingdom 1.42 1.17 1.16 1.21 1.27 1.32 1.42 Portugal 3.42 3.33 3.03 2.99 3.05 3.09 2.48 Poland 3.50 3.45 3.63 3.80 3.66 3.74 3.63 North America 2.83 2.71 2.79
Slide 21: NPL coverage ratio (%)
19 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Europe 49.1 50.2 49.7 51.8 51.0 51.1 51.1 Spain 50.4 49.4 49.3 51.0 49.9 50.7 51.2 United Kingdom 26.1 32.9 32.4 33.8 33.1 32.0 31.9 Portugal 72.8 74.3 76.3 79.3 80.3 81.8 84.6 Poland 78.5 76.0 74.8 74.0 75.2 74.0 76.5 North America 110.5 111.4 102
Slide 22: Credit impaired loans and loan-loss allowances
20 Loan-loss allowancesCredit impaired loans Credit impaired loans and loan-loss allowances. Breakdown by operating areas. September 2023
Slide 23: Cost of risk (%)
21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Europe 0.37 0.37 0.36 0.39 0.42 0.42 0.44 Spain 0.88 0.79 0.71 0.61 0.62 0.62 0.62 United Kingdom (0.08) (0.02) 0.02 0.12 0.12 0.11 0.12 Portugal 0.03 (0.05) (0.12) 0.04 0.06 0.10 0.17 Poland 0.65 0.95 1.07 1.43 1.71 1.87 1.98 North America 0.93 1.
Slide 24: Supplementary information
22 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 25: Grupo Santander (EUR mn)
23 GRUPO SANTANDER (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 8,855 9,554 10,051 10,159 10,185 10,735 11,219 +4.5% 28,460 32,139 +12.9% Net fee income 2,812 3,040 3,015 2,923 3,043 3,060 3,1
Slide 26: Grupo Santander (Constant EUR mn)
24 GRUPO SANTANDER (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 8,976 9,232 9,577 10,062 10,090 10,647 11,402 +7.1% 27,785 32,139 +15.7% Net fee income 2,849 2,949 2,898 2,931 3,027 3
Slide 27: Europe (EUR mn)
25 Europe (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2,839 2,981 3,179 3,567 3,597 3,968 4,222 +6.4% 8,998 11,787 +31.0% Net fee income 1,154 1,162 1,125 1,051 1,168 1,076 1,084 +0.7% 3,441
Slide 28: Europe (Constant EUR mn)
26 Europe (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2,797 2,955 3,171 3,578 3,631 3,961 4,195 +5.9% 8,923 11,787 +32.1% Net fee income 1,153 1,160 1,126 1,053 1,173 1,075 1,080 +0.
Slide 29: Spain (EUR mn)
27 Spain (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 998 1,017 1,119 1,405 1,460 1,701 1,741 +2.4% 3,134 4,903 +56.4% Net fee income 745 730 697 646 752 661 635 -4.0% 2,172 2,047 -5.7% Gains
Slide 30: United Kingdom (EUR mn)
28 United Kingdom (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 1,192 1,227 1,277 1,297 1,283 1,300 1,344 +3.4% 3,695 3,927 +6.3% Net fee income 92 110 93 95 83 84 97 +14.7% 295 264 -10.6% Gain
Slide 31: United Kingdom (Constant EUR mn)
29 United Kingdom (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 1,146 1,195 1,255 1,294 1,301 1,299 1,327 +2.2% 3,595 3,927 +9.3% Net fee income 89 107 92 95 84 84 96 +13.6% 287 264 -8
Slide 32: United Kingdom (GBP mn)
30 United Kingdom (GBP mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 997 1,040 1,092 1,127 1,133 1,130 1,156 +2.2% 3,129 3,419 +9.3% Net fee income 77 93 80 82 73 73 83 +13.6% 250 230 -8.1% Gains (l
Slide 33: Portugal (EUR mn)
31 Portugal (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 170 171 175 231 261 314 439 +40.0% 516 1,014 +96.6% Net fee income 122 123 121 118 124 111 117 +5.3% 366 352 -3.7% Gains (losses) on fi
Slide 34: Poland (EUR mn)
32 Poland (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 407 486 530 552 586 623 662 +6.2% 1,424 1,871 +31.3% Net fee income 138 130 135 125 145 144 148 +2.7% 403 437 +8.3% Gains (losses) on fin
Slide 35: Poland (Constant EUR mn)
33 Poland (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 411 493 548 568 602 618 651 +5.3% 1,452 1,871 +28.8% Net fee income 139 132 140 129 149 142 145 +1.9% 411 437 +6.2% Gains (losse
Slide 36: Poland (PLN mn)
34 Poland (PLN mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 1,881 2,261 2,510 2,602 2,759 2,830 2,980 +5.3% 6,652 8,569 +28.8% Net fee income 637 605 641 591 682 653 665 +1.9% 1,883 2,000 +6.2% Gai
Slide 37: Other Europe (EUR mn)
35 Other Europe (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 72 80 77 83 7 30 36 +19.8% 229 73 -68.2% Net fee income 56 69 79 68 65 75 87 +16.0% 205 228 +11.1% Gains (losses) on financial tran
Slide 38: Other Europe (Constant EUR mn)
36 Other Europe (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 73 79 74 80 6 30 36 +19.5% 226 73 -67.9% Net fee income 57 69 77 66 65 75 87 +16.0% 203 228 +12.1% Gains (losses) on finan
Slide 39: North America (EUR mn)
37 North America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2,131 2,352 2,619 2,603 2,448 2,483 2,602 +4.8% 7,102 7,533 +6.1% Net fee income 443 494 513 508 521 555 560 +0.9% 1,450 1,637 +12
Slide 40: North America (Constant EUR mn)
38 North America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2,328 2,422 2,563 2,560 2,474 2,490 2,570 +3.2% 7,313 7,533 +3.0% Net fee income 498 522 516 511 532 556 548 -1.4% 1,536
Slide 41: United States (EUR mn)
39 United States (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 1,378 1,499 1,669 1,594 1,465 1,436 1,414 -1.5% 4,546 4,314 -5.1% Net fee income 197 198 194 183 190 200 189 -5.4% 588 579 -1.5% G
Slide 42: United States (Constant EUR mn)
40 United States (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 1,428 1,474 1,555 1,503 1,451 1,443 1,420 -1.5% 4,457 4,314 -3.2% Net fee income 204 194 179 172 188 201 190 -5.4% 576 57
Slide 43: United States (USD mn)
41 United States (USD mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 1,546 1,597 1,684 1,627 1,572 1,562 1,538 -1.5% 4,826 4,672 -3.2% Net fee income 221 210 193 186 203 218 206 -5.4% 624 627 +0.5% G
Slide 44: Mexico (EUR mn)
42 Mexico (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 753 853 950 1,009 983 1,045 1,186 +13.5% 2,556 3,213 +25.7% Net fee income 245 283 303 309 320 344 356 +3.4% 831 1,019 +22.6% Gains (loss
Slide 45: Mexico (Constant EUR mn)
43 Mexico (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 900 948 1,009 1,058 1,022 1,045 1,147 +9.8% 2,856 3,213 +12.5% Net fee income 293 315 321 323 332 344 343 -0.3% 928 1,019 +9.8%
Slide 46: Mexico (MXN mn)
44 Mexico (MXN mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 17,319 18,241 19,417 20,360 19,669 20,110 22,081 +9.8% 54,978 61,860 +12.5% Net fee income 5,641 6,061 6,170 6,210 6,400 6,619 6,599 -0.3
Slide 47: Other North America (EUR mn)
45 Other North America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 0 (0) (0) 0 0 3 2 -23.5% 0 5 — Net fee income 1 13 17 16 12 11 15 +35.1% 31 38 +24.2% Gains (losses) on financial transactio
Slide 48: Other North America (Constant EUR mn)
46 Other North America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 0 (0) (0) 0 0 3 2 -23.5% 0 5 — Net fee income 1 13 17 16 12 11 15 +35.1% 31 38 +24.2% Gains (losses) on financial t
Slide 49: South America (EUR mn)
47 South America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 3,037 3,390 3,411 3,141 3,163 3,314 3,356 +1.3% 9,838 9,833 -0.0% Net fee income 1,013 1,162 1,174 1,165 1,166 1,229 1,264 +2.9% 3
Slide 50: South America (Constant EUR mn)
48 South America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 3,026 3,043 3,017 3,086 3,010 3,223 3,600 +11.7% 9,085 9,833 +8.2% Net fee income 996 1,047 1,054 1,169 1,134 1,205 1,320
Slide 51: Brazil (EUR mn)
49 Brazil (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2,143 2,279 2,251 2,229 2,105 2,180 2,327 +6.7% 6,672 6,612 -0.9% Net fee income 743 857 812 884 817 858 902 +5.1% 2,412 2,577 +6.8% Gain
Slide 52: Brazil (Constant EUR mn)
50 Brazil (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2,311 2,198 2,188 2,205 2,164 2,167 2,281 +5.3% 6,697 6,612 -1.3% Net fee income 801 830 789 876 840 853 884 +3.6% 2,420 2,577 +
Slide 53: Brazil (BRL mn)
51 Brazil (BRL mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 12,527 11,912 11,859 11,953 11,731 11,745 12,364 +5.3% 36,297 35,840 -1.3% Net fee income 4,342 4,501 4,275 4,746 4,550 4,625 4,791 +3.6%
Slide 54: Chile (EUR mn)
52 Chile (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 483 554 402 332 371 356 241 -32.5% 1,440 968 -32.8% Net fee income 112 110 120 127 153 163 133 -18.5% 341 449 +31.7% Gains (losses) on fin
Slide 55: Chile (Constant EUR mn)
53 Chile (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 492 561 423 350 363 349 255 -26.9% 1,477 968 -34.5% Net fee income 114 111 125 133 150 160 140 -12.8% 350 449 +28.4% Gains (losse
Slide 56: Chile (CLP mn)
54 Chile (CLP mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 437,644 498,964 376,457 311,342 322,790 310,631 227,113 -26.9% 1,313,065 860,533 -34.5% Net fee income 101,410 98,614 111,094 117,979 133,
Slide 57: Argentina (EUR mn)
55 Argentina (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 300 432 616 431 532 606 629 +3.8% 1,347 1,767 +31.1% Net fee income 121 143 182 97 137 145 164 +13.2% 445 446 +0.2% Gains (losses) on
Slide 58: Argentina (Constant EUR mn)
56 Argentina (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 100 159 267 382 326 534 907 +69.8% 526 1,767 +236.0% Net fee income 40 53 81 103 84 129 233 +80.3% 174 446 +156.6% Gains (los
Slide 59: Argentina (ARS mn)
57 Argentina (ARS mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 36,978 58,765 99,007 141,515 120,749 197,821 335,842 +69.8% 194,750 654,412 +236.0% Net fee income 14,875 19,625 29,856 38,139 31,111
Slide 60: Other South America (EUR mn)
58 Other South America (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 111 125 142 150 154 172 160 -7.1% 378 486 +28.7% Net fee income 38 52 62 58 59 62 65 +4.7% 152 187 +23.0% Gains (losses) on
Slide 61: Other South America (Constant EUR mn)
59 Other South America (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 122 125 139 148 156 173 157 -9.2% 386 486 +26.0% Net fee income 41 53 60 58 60 63 64 +1.9% 154 187 +21.5% Gains (lo
Slide 62: Digital Consumer Bank (EUR mn)
60 Digital Consumer Bank (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 1,020 1,012 1,000 990 1,029 1,011 1,069 +5.7% 3,032 3,110 +2.6% Net fee income 206 219 204 215 191 203 210 +3.5% 629 604 -
Slide 63: Digital Consumer Bank (Constant EUR mn)
61 Digital Consumer Bank (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 998 993 983 980 1,028 1,014 1,068 +5.3% 2,973 3,110 +4.6% Net fee income 205 218 203 214 191 203 210 +3.4% 626 60
Slide 64: Corporate Centre (EUR mn)
62 Corporate Centre (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income (172) (181) (157) (142) (52) (42) (30) -27.4% (510) (124) -75.7% Net fee income (3) 2 (2) (16) (3) (3) 1 — (3) (6) +104.5% Gain
Slide 65: Retail Banking (EUR mn)
63 Retail Banking (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 8,112 8,635 9,058 9,050 8,977 9,524 9,822 +3.1% 25,805 28,323 +9.8% Net fee income 1,807 1,982 1,968 1,896 1,901 1,965 2,013 +2.5
Slide 66: Retail Banking (Constant EUR mn)
64 Retail Banking (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 8,241 8,383 8,688 8,968 8,926 9,454 9,943 +5.2% 25,311 28,323 +11.9% Net fee income 1,823 1,916 1,887 1,903 1,889 1,949
Slide 67: Corporate & Investment Banking (EUR mn)
65 Corporate & Investment Banking (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 783 929 916 919 838 774 950 +22.7% 2,629 2,562 -2.5% Net fee income 529 500 489 464 619 554 531 -4.0% 1,517 1,704
Slide 68: Corporate & Investment Banking (Constant EUR mn)
66 Corporate & Investment Banking (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 776 865 820 907 796 757 1,009 +33.3% 2,461 2,562 +4.1% Net fee income 532 483 468 465 615 549 539 -1.8%
Slide 69: Wealth Management & Insurance (EUR mn)
67 Wealth Management & Insurance (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 131 167 227 322 413 456 454 -0.5% 525 1,323 +152.1% Net fee income 322 333 328 309 309 317 319 +0.6% 984 944 -4.0%
Slide 70: Wealth Management & Insurance (Constant EUR mn)
68 Wealth Management & Insurance (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 130 162 219 318 411 455 457 +0.5% 511 1,323 +159.1% Net fee income 326 326 315 307 304 314 326 +3.7% 966
Slide 71: PagoNxt (EUR mn)
69 PagoNxt (EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2 3 6 11 9 22 24 +8.3% 11 55 +397.0% Net fee income 157 222 231 270 218 228 255 +11.8% 611 701 +14.8% Gains (losses) on financial transa
Slide 72: PagoNxt (Constant EUR mn)
70 PagoNxt (Constant EUR mn) Change Change Underlying income statement Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q3'23 / Q2'23 9M'22 9M'23 9M'23 / 9M'22 Net interest income 2 3 6 11 10 22 24 +6.7% 11 55 +396.2% Net fee income 171 222 230 272 222 227 252 +11.1% 624 701 +12.4% Gains (losses) on financ
Slide 73: Supplementary information
71 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 74: Glossary
72 • ALCO: Assets and Liabilities Committee • AT1: Additional Tier 1 • AuM: Assets under Management • BFG: Deposit Guarantee Fund in Poland • bn: Billion • Bps: basis points • CET1: Common equity tier 1 • CIB: Corporate & Investment Bank • CoR: Cost of credit / cost of risk • Covid-19: Coronavirus D
Slide 75: Glossary - Definitions
73 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 76: 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 77: 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 October 2023 By: /s/ José García Cantera Name: José García Cantera Title: