Slide 1: Form 6-K Report of Foreign Issuer
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, 2024 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 2024 Earnings presentation (Supplementary information)
Slide 3: Supplementary information 9M'24
29 October 2024 Supplementary information 9M’24
Slide 4: Important information: Non-IFRS and alternative performance measures
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: forward-looking statements
3 Important information While these forward-looking statements represent our judgement and future expectations concerning our business developments, results may differ materially from those anticipated, expected, projected or assumed in forward-looking statements. In particular, forward looking stat
Slide 6: Supplementary information
4 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments 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% 12.46% >12% 0.98% 2.50% 1.25% CCyB, 0.40% 1.83% 1.61% 1.50% 2.44% 2.70% 2.40% 13.89% 16.78% >15% Assumed regulatory requirement 2024 Group ratios Sep-24 2024 target ratios Assumed capital requ
Slide 8: Bond portfolio
6 Bond portfolio Diversified bond portfolio represents just 7% of total assets %, Sep-24 Spain 30% Poland 12% UK 6% Portugal 5% SCF 5% US 11% Mexico 11% Brazil 10% Chile 7% Other South America 3% €127bn o/w HTC €82bn (65%) • Bond portfolio represents 7% of total assets • HTC&S duration: 1.8 years •
Slide 9: Conservative and decentralized liquidity and funding model
7 Conservative and decentralized liquidity and funding model Very manageable maturity profile€41.3bn1 issued in public markets in 9M’24 (1) Data includes public issuances from all units with period-average exchange rates. Excludes securitizations. (2) Includes €10.1bn of Banco Santander, S.A., €2.2b
Slide 10: 2024 issuances against funding plan
8 2024 issuances against funding plan Plan Issued Plan Issued Plan Issued Plan Issued Banco Santander, S.A 4 - 5 6.9 16 - 18 22.2 0 - 1 0.5 20 - 24 29.6 UK - - 1 - 2 1.3 5 - 6 6.0 6 - 8 7.2 SCF - - 3 - 5 2.4 - - 3 - 5 2.4 SHUSA - - 2 - 3 3.2 - - 2 - 3 3.2 TOTAL 4 - 5 6.9 22 - 28 29.1 5 - 7 6.4 31 -
Slide 11: TLAC/MREL for the Resolution Group
9 TLAC/MREL for the Resolution Group headed by Banco Santander, S.A. 29.7% 11.5% 4.1% 6.3% 5.2% 40.1% 16.7% % RWAs % LE 18.0% 6.8% 4.1% 6.3% 2.9% 28.4% 9.6% % RWAs % LE MREL Sep-24(e)TLAC Sep-24(e) % and € bn Req. 33.8% Requirement CBR Buffer SNP T2 CET1 Senior AT1 Sub debt % Req. 22.1% Distance to
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 ST Funding Securitizations and others Loans and advances to customers Fixed assets & other Customer deposits M/LT debt issua
Slide 13: Supplementary information
11 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary
Slide 14: Yield on loans (%)
12 Yield on loans (%) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Retail & Commercial Banking 5.45 5.88 6.00 6.26 6.49 6.48 6.40 Digital Consumer Bank 7.32 7.75 7.81 7.82 8.38 8.29 8.23 Corporate & Investment Banking 6.48 6.86 7.02 6.44 7.36 6.91 6.86 Wealth Management & Insurance 3.84 4.24 4.48 4.72
Slide 15: Cost of deposits (%)
13 Cost of deposits (%) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Retail & Commercial Banking 1.89 2.15 2.31 2.00 2.40 2.19 2.15 Digital Consumer Bank 0.91 1.23 1.59 1.90 2.15 2.25 2.27 Corporate & Investment Banking 5.88 6.53 6.87 5.34 6.62 5.52 6.22 Wealth Management & Insurance 1.93 2.18 2.41 2.2
Slide 16: Supplementary information
14 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary
Slide 17: Efficiency ratio (%)
15 Efficiency ratio (%) Q1'23 H1'23 9M'23 2023 Q1'24 H1'24 9M'24 Retail & Commercial Banking 45.0 44.3 43.5 43.1 41.1 39.5 39.3 Digital Consumer Bank 43.0 43.3 42.6 42.8 41.2 40.6 40.7 Corporate & Investment Banking 37.0 38.2 40.8 45.0 42.0 43.4 44.4 Wealth Management & Insurance 38.4 36.7 36.3 37.9
Slide 18: Supplementary information
16 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary
Slide 19: Stage coverage
17 Stage coverage 1) Exposure subject to impairment in EUR bn. Additionally, customer loans not subject to impairment recorded at mark to market with changes through P&L (EUR 17 bn in March 2023, EUR 18 bn in June 2023, EUR 20 bn in September 2023, EUR 19 bn in December 2023, EUR 25 bn in March 2024
Slide 20: NPL ratio (%)
18 NPL ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Retail & Commercial Banking 3.19 3.22 3.18 3.21 3.24 3.15 3.28 Digital Consumer Bank 4.04 4.18 4.65 4.75 4.86 4.81 4.87 Corporate & Investment Banking 1.42 1.38 1.37 1.36 1.14 1.05 0.88 Wealth Management & Insurance 0.83 0.82 0.82 1.4
Slide 21: NPL coverage ratio (%)
19 NPL coverage ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Retail & Commercial Banking 62.7 63.2 63.5 61.4 60.0 60.4 57.7 Digital Consumer Bank 91.2 87.9 79.4 76.5 76.1 75.9 74.7 Corporate & Investment Banking 35.3 36.8 35.4 41.2 46.2 45.0 36.0 Wealth Management & Insurance 62.3 53.2
Slide 22: Credit impaired loans and loan-loss allowances
20 Loan-loss allowancesCredit impaired loans Credit impaired loans and loan-loss allowances. Retail, 60.7% DCB, 29.1% CIB, 6.2% Wealth, 0.5% Payments, 3.5% Retail, 54.6% DCB, 34.0% CIB, 3.5% Wealth, 0.5% Payments, 7.4% Spain, 18.3% UK, 4.6% Portugal, 3.5% Poland, 4.9% Other Europe, 0.1% DCB Europe,
Slide 23: Cost of risk (%)
21 Cost of risk (%) Note: Provisions to cover losses due to impairment of loans in the last 12 months / average customer loans and advances of the last 12 months. (*).- PagoNxt’s cost of risk is not provided as we do not consider it a relevant metric for this type of business. Mar-23 Jun-23 Sep-23 D
Slide 24: Supplementary information
22 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary
Slide 25: Grupo Santander (EUR mn)
23 GRUPO SANTANDER (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 10,185 10,735 11,219 11,122 11,983 11,474 11,225 -2.2% 32,139 34,682 +7.9% Net fee income 3,043 3,060 3,119 2,835 3,240 3,237 3,
Slide 26: Grupo Santander (Constant EUR mn)
24 GRUPO SANTANDER (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 10,217 10,641 11,057 10,949 11,802 11,377 11,503 +1.1% 31,915 34,682 +8.7% Net fee income 3,034 3,004 3,045 2,772 3,181
Slide 27: Supplementary information
25 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary
Slide 28: Retail & Commercial Banking (EUR mn)
26 Retail & Commercial Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 5,931 6,470 6,705 6,445 7,145 6,870 6,803 -1.0% 19,105 20,817 +9.0% Net fee income 1,074 1,212 1,196 1,015 1,193 1,1
Slide 29: Retail & Commercial Banking (Constant EUR mn)
27 Retail & Commercial Banking (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 5,990 6,417 6,605 6,348 7,028 6,816 6,974 +2.3% 19,012 20,817 +9.5% Net fee income 1,072 1,186 1,163 988 1,
Slide 30: Digital Consumer Bank (EUR mn)
28 Digital Consumer Bank (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,546 2,477 2,600 2,598 2,710 2,655 2,614 -1.5% 7,623 7,978 +4.7% Net fee income 288 295 316 330 354 387 373 -3.7% 899 1,1
Slide 31: Digital Consumer Bank (Constant EUR mn)
29 Digital Consumer Bank (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,525 2,471 2,585 2,572 2,691 2,638 2,650 +0.4% 7,581 7,978 +5.2% Net fee income 288 294 313 326 351 385 379 -1.6
Slide 32: Corporate & Investment Banking (EUR mn)
30 Corporate & Investment Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 844 826 888 1,037 1,062 969 901 -7.0% 2,557 2,932 +14.7% Net fee income 606 536 517 471 654 626 612 -2.1% 1,660 1
Slide 33: Corporate & Investment Banking (Constant EUR mn)
31 Corporate & Investment Banking (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 838 811 869 1,013 1,042 957 933 -2.5% 2,518 2,932 +16.5% Net fee income 606 530 509 464 648 621 623 +0.3
Slide 34: Wealth Management & Insurance (EUR mn)
32 Wealth Management & Insurance (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 334 392 409 377 423 404 406 +0.6% 1,135 1,233 +8.6% Net fee income 308 317 318 319 364 355 366 +3.1% 943 1,084 +14
Slide 35: Wealth Management & Insurance (Constant EUR mn)
33 Wealth Management & Insurance (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 335 391 407 375 421 402 410 +2.1% 1,132 1,233 +9.0% Net fee income 308 315 314 316 361 352 371 +5.5% 937
Slide 36: Payments (EUR mn)
34 Payments (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 582 611 649 582 675 645 596 -7.6% 1,842 1,916 +4.0% Net fee income 770 703 772 708 676 695 698 +0.4% 2,244 2,069 -7.8% Gains (losses) o
Slide 37: Payments (Constant EUR mn)
35 Payments (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 580 594 622 558 651 633 632 -0.1% 1,796 1,916 +6.7% Net fee income 765 682 743 685 657 686 725 +5.7% 2,189 2,069 -5.5% Gains (
Slide 38: PagoNxt (EUR mn)
36 PagoNxt (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 9 22 24 38 31 31 35 +10.3% 55 97 +74.5% Net fee income 218 228 255 253 224 233 241 +3.5% 701 697 -0.6% Gains (losses) on financial trans
Slide 39: PagoNxt (Constant EUR mn)
37 PagoNxt (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 9 22 23 36 29 31 36 +17.4% 54 97 +80.0% Net fee income 216 220 245 243 217 230 250 +9.0% 681 697 +2.3% Gains (losses) on financ
Slide 40: Cards (EUR mn)
38 Cards (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 573 589 625 544 644 613 561 -8.5% 1,787 1,819 +1.8% Net fee income 551 475 517 456 452 462 457 -1.1% 1,542 1,371 -11.1% Gains (losses) on
Slide 41: Cards (Constant EUR mn)
39 Cards (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 571 573 599 522 621 602 596 -1.0% 1,742 1,819 +4.4% Net fee income 548 461 498 442 440 456 475 +4.0% 1,508 1,371 -9.1% Gains (los
Slide 42: Corporate Centre (EUR mn)
40 Corporate Centre (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income (52) (42) (30) 83 (31) (69) (95) +38.4% (124) (195) +57.1% Net fee income (3) (3) 1 (8) (1) 2 (8) — (6) (7) +33.7% Gains (losse
Slide 43: Supplementary information
41 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary
Slide 44: Europe (EUR mn)
42 Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,597 3,968 4,222 4,123 4,123 4,165 4,205 +0.9% 11,787 12,493 +6.0% Net fee income 1,168 1,076 1,084 1,071 1,202 1,167 1,168 +0.1% 3,328
Slide 45: Europe (Constant EUR mn)
43 Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,699 4,030 4,266 4,162 4,134 4,167 4,192 +0.6% 11,995 12,493 +4.1% Net fee income 1,185 1,086 1,092 1,076 1,203 1,166 1,167 +0.
Slide 46: Spain (EUR mn)
44 Spain (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,460 1,701 1,741 1,738 1,816 1,840 1,799 -2.2% 4,903 5,454 +11.3% Net fee income 752 661 635 652 746 738 707 -4.1% 2,047 2,191 +7.0% Gain
Slide 47: United Kingdom (EUR mn)
45 United Kingdom (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,283 1,300 1,344 1,225 1,185 1,196 1,256 +5.0% 3,927 3,637 -7.4% Net fee income 83 84 97 74 79 64 80 +25.7% 264 222 -15.7% Gains
Slide 48: United Kingdom (Constant EUR mn)
46 United Kingdom (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,331 1,328 1,357 1,247 1,192 1,199 1,246 +4.0% 4,016 3,637 -9.4% Net fee income 86 86 98 76 79 64 79 +24.6% 270 222 -17
Slide 49: United Kingdom (GBP mn)
47 United Kingdom (GBP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,133 1,130 1,156 1,061 1,015 1,020 1,061 +4.0% 3,419 3,096 -9.4% Net fee income 73 73 83 64 67 54 68 +24.6% 230 189 -17.6% Gains
Slide 50: Portugal (EUR mn)
48 Portugal (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 261 314 439 451 431 413 373 -9.8% 1,014 1,216 +20.0% Net fee income 124 111 117 111 127 115 115 -0.6% 352 357 +1.3% Gains (losses) on f
Slide 51: Poland (EUR mn)
49 Poland (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 586 623 662 673 686 697 727 +4.3% 1,871 2,111 +12.8% Net fee income 145 144 148 153 176 163 170 +4.2% 437 508 +16.4% Gains (losses) on fi
Slide 52: Poland (Constant EUR mn)
50 Poland (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 641 657 692 690 691 697 724 +3.9% 1,991 2,111 +6.0% Net fee income 158 152 155 157 177 163 169 +3.8% 465 508 +9.4% Gains (losses
Slide 53: Poland (PLN mn)
51 Poland (PLN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,759 2,830 2,980 2,972 2,973 2,999 3,115 +3.9% 8,569 9,087 +6.0% Net fee income 682 653 665 675 761 700 727 +3.8% 2,000 2,188 +9.4% Gain
Slide 54: Other Europe (EUR mn)
52 Other Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 7 30 36 36 5 19 50 +164.0% 73 74 +1.4% Net fee income 65 75 87 81 74 87 96 +10.9% 228 258 +13.2% Gains (losses) on financial transa
Slide 55: Other Europe (Constant EUR mn)
53 Other Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 6 30 36 36 5 18 51 +173.4% 72 74 +2.2% Net fee income 65 75 87 81 74 87 97 +11.9% 227 258 +13.4% Gains (losses) on financi
Slide 56: Digital Consumer Bank Europe (EUR mn)
54 Digital Consumer Bank Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,029 1,011 1,069 1,083 1,095 1,092 1,069 -2.1% 3,110 3,256 +4.7% Net fee income 191 203 210 192 220 231 229 -0.8%
Slide 57: Digital Consumer Bank Europe (Constant EUR mn)
55 Digital Consumer Bank Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,030 1,016 1,071 1,087 1,093 1,092 1,070 -2.0% 3,117 3,256 +4.5% Net fee income 191 204 211 192 220 231 2
Slide 58: North America (EUR mn)
56 North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,448 2,483 2,602 2,626 2,611 2,636 2,527 -4.2% 7,533 7,774 +3.2% Net fee income 521 555 560 555 638 662 641 -3.1% 1,637 1,941 +18
Slide 59: North America (Constant EUR mn)
57 North America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,470 2,487 2,567 2,592 2,561 2,581 2,632 +2.0% 7,524 7,774 +3.3% Net fee income 532 556 548 547 623 646 671 +3.9% 1,637
Slide 60: United States (EUR mn)
58 United States (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,465 1,436 1,414 1,428 1,396 1,428 1,411 -1.2% 4,314 4,235 -1.8% Net fee income 190 200 189 187 267 272 296 +8.7% 579 835 +44.1%
Slide 61: United States (Constant EUR mn)
59 United States (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,446 1,437 1,415 1,413 1,394 1,414 1,426 +0.8% 4,299 4,235 -1.5% Net fee income 187 200 190 185 266 270 299 +10.8% 577 8
Slide 62: United States (USD mn)
60 United States (USD mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,572 1,562 1,538 1,536 1,516 1,537 1,550 +0.8% 4,672 4,603 -1.5% Net fee income 203 218 206 201 290 293 325 +10.8% 627 908 +44.7%
Slide 63: Mexico (EUR mn)
61 Mexico (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 983 1,045 1,186 1,195 1,214 1,207 1,113 -7.8% 3,213 3,534 +10.0% Net fee income 320 344 356 355 359 374 329 -12.0% 1,019 1,062 +4.3% Gain
Slide 64: Mexico (Constant EUR mn)
62 Mexico (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,024 1,047 1,150 1,176 1,166 1,165 1,203 +3.3% 3,220 3,534 +9.7% Net fee income 333 345 344 349 345 361 357 -1.3% 1,021 1,062 +
Slide 65: Mexico (MXN mn)
63 Mexico (MXN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 19,669 20,110 22,081 22,597 22,390 22,383 23,112 +3.3% 61,860 67,885 +9.7% Net fee income 6,400 6,619 6,599 6,700 6,621 6,937 6,850 -1.3%
Slide 66: Other North America (EUR mn)
64 Other North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 0 3 2 3 1 2 3 +72.2% 5 5 -6.2% Net fee income 12 11 15 13 12 15 16 +4.2% 38 43 +11.9% Gains (losses) on financial transactio
Slide 67: Other North America (Constant EUR mn)
65 Other North America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 0 3 2 3 1 2 3 +71.1% 5 5 -6.2% Net fee income 12 11 15 13 12 15 16 +4.2% 38 43 +11.9% Gains (losses) on financial t
Slide 68: South America (EUR mn)
66 South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,163 3,314 3,356 3,206 4,185 3,649 3,520 -3.5% 9,833 11,355 +15.5% Net fee income 1,166 1,229 1,264 1,025 1,182 1,176 1,159 -1.4%
Slide 69: South America (Constant EUR mn)
67 South America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,069 3,150 3,184 3,024 4,045 3,606 3,704 +2.7% 9,402 11,355 +20.8% Net fee income 1,129 1,162 1,193 964 1,136 1,160 1,22
Slide 70: Brazil (EUR mn)
68 Brazil (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,105 2,180 2,327 2,504 2,630 2,605 2,474 -5.0% 6,612 7,709 +16.6% Net fee income 817 858 902 885 846 888 833 -6.2% 2,577 2,567 -0.4% Gai
Slide 71: Brazil (Constant EUR mn)
69 Brazil (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,065 2,067 2,176 2,351 2,488 2,570 2,650 +3.1% 6,308 7,709 +22.2% Net fee income 801 814 843 831 801 875 891 +1.9% 2,458 2,567
Slide 72: Brazil (BRL mn)
70 Brazil (BRL mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 11,731 11,745 12,364 13,359 14,135 14,604 15,058 +3.1% 35,840 43,797 +22.2% Net fee income 4,550 4,625 4,791 4,719 4,549 4,973 5,065 +1.9
Slide 73: Chile (EUR mn)
71 Chile (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 371 356 241 415 352 472 482 +2.1% 968 1,306 +34.9% Net fee income 153 163 133 122 129 137 146 +6.3% 449 411 -8.6% Gains (losses) on financ
Slide 74: Chile (Constant EUR mn)
72 Chile (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 317 305 223 386 355 467 483 +3.5% 845 1,306 +54.5% Net fee income 131 140 122 117 130 135 146 +8.1% 393 411 +4.7% Gains (losses)
Slide 75: Chile (CLP mn)
73 Chile (CLP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 322,790 310,631 227,113 392,690 361,759 475,476 491,886 +3.5% 860,533 1,329,120 +54.5% Net fee income 133,249 142,289 124,044 118,714 132,
Slide 76: Argentina (EUR mn)
74 Argentina (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 532 606 629 112 1,025 397 390 -1.9% 1,767 1,812 +2.6% Net fee income 137 145 164 (50) 131 73 111 +53.1% 446 315 -29.3% Gains (losses)
Slide 77: Argentina (Argentine peso mn)
75 Argentina (Argentine peso mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 120,749 197,821 335,842 1,024,801 949,444 1,183,149 799,603 -32.4% 654,412 2,932,197 +348.1% Net fee income 31,111 47,835 8
Slide 78: Other South America (EUR mn)
76 Other South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 154 172 160 176 178 175 175 -0.3% 486 528 +8.6% Net fee income 59 62 65 67 75 78 70 -11.2% 187 223 +19.4% Gains (losses) on
Slide 79: Other South America (Constant EUR mn)
77 Other South America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 155 171 156 175 176 172 181 +5.3% 482 528 +9.7% Net fee income 60 63 64 67 75 77 72 -7.0% 187 223 +19.0% Gains (los
Slide 80: Supplementary information
78 Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary
Slide 81: Glossary - Acronyms
79 Glossary - Acronyms ❑ ALCO: Assets and Liabilities Committee ❑ AT1: Additional Tier 1 ❑ bn: Billion ❑ bps: basis points ❑ CET1: Common equity tier 1 ❑ CIB: Corporate & Investment Banking ❑ CoR: Cost of risk ❑ HQLA: High quality liquid asset ❑ FL: Fully-loaded ❑ FY: Full year ❑ HTC&S: Held to coll
Slide 82: Glossary - Definitions
80 Glossary - Definitions PROFITABILITY AND EFFICIENCY ✓ RoTE: Return on tangible capital: Group attributable profit / average of: net equity (excluding minority interests) – intangible assets (including goodwill) ✓ RoRWA: Return on risk-weighted assets: consolidated profit / average risk-weighted a
Slide 83: 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 84: 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: 29 October 2024 By: /s/ José García Cantera Name: José García Cantera Title: