Banco Santander, S.a. · BME:SAN
Banco Santander — H1 2024 Earnings Presentation
81 slides from Banco Santander's earnings presentation, Jul 24, 2024
Slide 1: Supplementary information H1'24
24 July 2024 Supplementary information H1’24
Slide 2: Important information
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 de
Slide 3: Important information
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 statem
Slide 4: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 4
Slide 5: Santander's capital levels exceed minimum regulatory requirements
Santander’s capital levels, both phased-in and fully loaded, exceed minimum regulatory requirements SREP capital requirements and MDA* Assumed capital requirements (fully-loaded)** Jun-24 16.71% Jun-24 16.39% >15% 13.88% +283bps 2.82% T2 13.88% +251bps 2.52% AT1 2.40% T2 T2 2.44% +245bps 1.41% 1.41%
Slide 6: Diversified bond portfolio represents just 7% of total assets
Diversified bond portfolio represents just 7% of total assets Bond portfolio %, Jun-24 €129bn Other South America Chile Liquidity 3% 6% portfolio Brazil €26bn 8% Spain 29% • Bond portfolio represents 7% of total assets US 12% €129bn • HTC&S duration: 1.7 years o/w HTC €82bn (64%) ALCO IRRBB • Mark t
Slide 7: Conservative and decentralized liquidity and funding model
Conservative and decentralized liquidity and funding model €29.0bn1 issued in public markets in H1’24 Very manageable maturity profile € bn, Jun-24 € bn, Jun-24 16.5 Covered 4.5 11.3 11.0 4.7 4.2 Bonds 12.1 0.5 0.7 0.2 21.4 2.3 8.1 14.9 0.3 0.4 Senior 4.5 11.5 6.5 9.9 6.3 2.1 1.0 2 8.0 2.4 19.1 Seni
Slide 8: 2024 issuances against funding plan
2024 issuances against funding plan YtD execution of 2024 funding plan € bn, Jun-24 AT1 + Tier 2 SNP + Senior Covered Bonds TOTAL Plan Issued Plan Issued Plan Issued Plan Issued 1 2 Banco Santander, S.A 4-5 5.2 16 - 18 18.4 0-1 0.5 20 - 24 24.1 UK - - 1-2 0.3 5-6 4.7 6-8 5.1 SCF - - 3-5 2.3 - - 3-5
Slide 9: 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 Jun-24(e) MREL Jun-24(e) % % and € bn 167.1 Requirement 40.0% Requirement CBR CBR 25.0 28.7% 6.1% Senior Buffer Buffer 4.1% 33.0 6.6% SNP 4.0 Sub debt 13.6 T2 4.1% 8.4 AT1 Req.2 16.7% 33.8% Req. 9.7% 29.7% 5.2% 22.1% CET1 18.0%
Slide 10: 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 Liquidity Coverage Net Stable Funding Ratio (LCR) Ratio (NSFR) € bn, Jun-24 1,515 1,515 1 Jun-24 Mar-24 Mar-24 Spain 2 159% 145
Slide 11: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 11
Slide 12: Yield on loans (%)
Yield on loans (%) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Retail & Commercial Banking 5.45 5.88 6.00 6.26 6.49 6.48 Digital Consumer Bank 7.32 7.75 7.81 7.82 8.38 8.29 Corporate & Investment Banking 6.48 6.86 7.02 6.44 7.36 6.91 Wealth Management & Insurance 3.84 4.24 4.48 4.72 4.87 4.81 Payments 15.43
Slide 13: Cost of deposits (%)
Cost of deposits (%) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Retail & Commercial Banking 1.89 2.15 2.31 2.00 2.40 2.19 Digital Consumer Bank 0.91 1.23 1.59 1.90 2.15 2.25 Corporate & Investment Banking 5.88 6.53 6.87 5.34 6.62 5.52 Wealth Management & Insurance 1.93 2.18 2.41 2.25 2.62 2.53 Payments N/A
Slide 14: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 14
Slide 15: Efficiency ratio (%)
Efficiency ratio (%) Q1'23 H1'23 9M'23 2023 Q1'24 H1'24 Retail & Commercial Banking 45.0 44.3 43.5 43.1 41.1 39.5 Digital Consumer Bank 43.0 43.3 42.6 42.8 41.2 40.6 Corporate & Investment Banking 37.0 38.2 40.8 45.0 42.0 43.4 Wealth Management & Insurance 38.4 36.7 36.3 37.9 34.4 34.4 Payments 44.8
Slide 16: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 16
Slide 17: Stage coverage
Stage coverage Exposure ¹ Coverage Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Stage 1 1,005 1,011 1,002 1,000 1,007 1,008 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% Stage 2 72 75 77 80 83 94 7.4% 7.2% 7.0% 6.4% 6.3% 5.6% Stage 3 34 35 36 36 36 35 40.1% 41.0% 40.4% 40.6% 4
Slide 18: NPL ratio (%)
NPL ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Retail & Commercial Banking 3.19 3.22 3.18 3.21 3.24 3.15 Digital Consumer Bank 4.04 4.18 4.65 4.75 4.86 4.81 Corporate & Investment Banking 1.42 1.38 1.37 1.36 1.14 1.05 Wealth Management & Insurance 0.83 0.82 0.82 1.40 0.64 0.77 Payments 4.98
Slide 19: NPL coverage ratio (%)
NPL coverage ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Retail & Commercial Banking 62.7 63.2 63.5 61.4 60.0 60.4 Digital Consumer Bank 91.2 87.9 79.4 76.5 76.1 75.9 Corporate & Investment Banking 35.3 36.8 35.4 41.2 46.2 45.0 Wealth Management & Insurance 62.3 53.2 54.2 29.3 61.6 64.6 Paym
Slide 20: Credit impaired loans and loan-loss allowances
Credit impaired loans and loan-loss allowances. Credit impaired loans Loan-loss allowances Wealth, 0.5% Payments, Wealth, 0.5% Payments, 3.2% 7.3% CIB, 7.3% CIB, 4.9% Retail, 53.7% DCB, 29.5% Retail, 59.4% DCB, 33.6% Other South Other South Argentina, 0.3% America, 0.9% Argentina, 0.6% America, 1.2%
Slide 21: Cost of risk (%)
Cost of risk (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Retail & Commercial Banking 0.92 0.92 0.95 1.02 1.03 1.03 Digital Consumer Bank 1.81 1.86 2.01 2.04 2.12 2.17 Corporate & Investment Banking 0.16 0.18 0.15 0.10 0.14 0.15 Wealth Management & Insurance 0.09 (0.00) (0.05) (0.08) (0.05) 0.05 Pa
Slide 22: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 22
Slide 23: GRUPO SANTANDER (EUR mn)
GRUPO SANTANDER (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 10,185 10,735 11,219 11,122 11,983 11,474 -4.2% 20,920 23,457 +12.1% Net fee income 3,043 3,060 3,119 2,835 3,240 3,237 -0.1% 6,103 6,477
Slide 24: GRUPO SANTANDER (Constant EUR mn)
GRUPO SANTANDER (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 10,333 10,759 11,182 11,082 11,939 11,518 -3.5% 21,093 23,457 +11.2% Net fee income 3,076 3,047 3,089 2,816 3,225 3,252 +0.8% 6,
Slide 25: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 25
Slide 26: Retail & Commercial Banking (EUR mn)
Retail & Commercial Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 5,931 6,470 6,705 6,445 7,145 6,870 -3.8% 12,400 14,015 +13.0% Net fee income 1,074 1,212 1,196 1,015 1,193 1,173 -1.6% 2,286
Slide 27: Retail & Commercial Banking (Constant EUR mn)
Retail & Commercial Banking (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 6,066 6,495 6,684 6,427 7,113 6,902 -3.0% 12,561 14,015 +11.6% Net fee income 1,088 1,206 1,183 1,007 1,185 1,181 -0
Slide 28: Digital Consumer Bank (EUR mn)
Digital Consumer Bank (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 2,546 2,477 2,600 2,598 2,710 2,655 -2.0% 5,024 5,364 +6.8% Net fee income 288 295 316 330 354 387 +9.2% 584 742 +27.1% Gains (loss
Slide 29: Digital Consumer Bank (Constant EUR mn)
Digital Consumer Bank (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 2,541 2,485 2,601 2,588 2,708 2,656 -1.9% 5,026 5,364 +6.7% Net fee income 289 296 315 329 354 388 +9.7% 585 742 +26.8% Ga
Slide 30: Corporate & Investment Banking (EUR mn)
Corporate & Investment Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 844 826 888 1,037 1,062 969 -8.7% 1,670 2,031 +21.6% Net fee income 606 536 517 471 654 626 -4.3% 1,142 1,280 +12.0% Gains
Slide 31: Corporate & Investment Banking (Constant EUR mn)
Corporate & Investment Banking (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 846 819 881 1,031 1,057 974 -7.9% 1,665 2,031 +22.0% Net fee income 611 536 514 468 653 627 -4.0% 1,147 1,280 +11
Slide 32: Wealth Management & Insurance (EUR mn)
Wealth Management & Insurance (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 334 392 409 377 423 404 -4.4% 726 827 +13.8% Net fee income 308 317 318 319 364 355 -2.6% 625 719 +14.9% Gains (losses) on
Slide 33: Wealth Management & Insurance (Constant EUR mn)
Wealth Management & Insurance (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 336 393 409 377 423 404 -4.4% 729 827 +13.4% Net fee income 310 317 317 319 364 355 -2.6% 627 719 +14.6% Gains (lo
Slide 34: Payments (EUR mn)
Payments (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 582 611 649 582 675 645 -4.5% 1,194 1,320 +10.6% Net fee income 770 703 772 708 676 695 +2.7% 1,472 1,371 -6.9% Gains (losses) on financial tran
Slide 35: Payments (Constant EUR mn)
Payments (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 595 610 638 576 669 651 -2.6% 1,205 1,320 +9.5% Net fee income 782 696 758 700 671 700 +4.4% 1,478 1,371 -7.3% Gains (losses) on financ
Slide 36: PagoNxt (EUR mn)
PagoNxt (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 9 22 24 38 31 31 +2.0% 31 62 +97.7% Net fee income 218 228 255 253 224 233 +4.0% 446 456 +2.2% Gains (losses) on financial transactions and other
Slide 37: PagoNxt (Constant EUR mn)
PagoNxt (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 10 22 24 37 30 32 +5.5% 32 62 +96.8% Net fee income 222 226 250 249 222 235 +5.8% 447 456 +2.0% Gains (losses) on financial transactions
Slide 38: Cards (EUR mn)
Cards (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 573 589 625 544 644 613 -4.8% 1,162 1,258 +8.2% Net fee income 551 475 517 456 452 462 +2.1% 1,026 915 -10.8% Gains (losses) on financial transacti
Slide 39: Cards (Constant EUR mn)
Cards (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 586 588 615 539 638 619 -3.0% 1,174 1,258 +7.2% Net fee income 560 471 508 452 449 466 +3.7% 1,031 915 -11.3% Gains (losses) on financial
Slide 40: Corporate Centre (EUR mn)
Corporate Centre (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income (52) (42) (30) 83 (31) (69) +123.1% (94) (100) +6.4% Net fee income (3) (3) 1 (8) (1) 2 — (7) 1 — Gains (losses) on financial transactio
Slide 41: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 41
Slide 42: Europe (EUR mn)
Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 3,597 3,968 4,222 4,123 4,123 4,165 +1.0% 7,565 8,288 +9.6% Net fee income 1,168 1,076 1,084 1,071 1,202 1,167 -2.9% 2,244 2,368 +5.5% Gains (loss
Slide 43: Europe (Constant EUR mn)
Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 3,692 4,023 4,259 4,156 4,128 4,160 +0.8% 7,716 8,288 +7.4% Net fee income 1,184 1,085 1,091 1,075 1,203 1,166 -3.1% 2,269 2,368 +4.4% Ga
Slide 44: Spain (EUR mn)
Spain (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,460 1,701 1,741 1,738 1,816 1,840 +1.3% 3,161 3,656 +15.6% Net fee income 752 661 635 652 746 738 -1.1% 1,413 1,484 +5.0% Gains (losses) on finan
Slide 45: United Kingdom (EUR mn)
United Kingdom (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,283 1,300 1,344 1,225 1,185 1,196 +0.9% 2,583 2,381 -7.8% Net fee income 83 84 97 74 79 64 -19.0% 167 142 -14.8% Gains (losses) on finan
Slide 46: United Kingdom (Constant EUR mn)
United Kingdom (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,326 1,323 1,352 1,242 1,187 1,194 +0.5% 2,648 2,381 -10.1% Net fee income 85 86 98 75 79 64 -19.3% 171 142 -16.9% Gains (losses
Slide 47: United Kingdom (GBP mn)
United Kingdom (GBP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,133 1,130 1,156 1,061 1,015 1,020 +0.5% 2,263 2,035 -10.1% Net fee income 73 73 83 64 67 54 -19.3% 146 122 -16.9% Gains (losses) on fina
Slide 48: Portugal (EUR mn)
Portugal (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 261 314 439 451 431 413 -4.1% 575 844 +46.8% Net fee income 124 111 117 111 127 115 -9.4% 235 242 +3.0% Gains (losses) on financial transactions
Slide 49: Poland (EUR mn)
Poland (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 586 623 662 673 686 697 +1.7% 1,209 1,384 +14.4% Net fee income 145 144 148 153 176 163 -7.2% 289 339 +17.3% Gains (losses) on financial transacti
Slide 50: Poland (Constant EUR mn)
Poland (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 639 656 691 689 689 695 +0.9% 1,295 1,384 +6.9% Net fee income 158 151 154 156 176 162 -7.9% 309 339 +9.5% Gains (losses) on financial tr
Slide 51: Poland (PLN mn)
Poland (PLN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 2,759 2,830 2,980 2,972 2,973 2,999 +0.9% 5,589 5,972 +6.9% Net fee income 682 653 665 675 761 700 -7.9% 1,335 1,461 +9.5% Gains (losses) on finan
Slide 52: Other Europe (EUR mn)
Other Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 7 30 36 36 5 19 +293.2% 37 24 -35.4% Net fee income 65 75 87 81 74 87 +16.7% 140 161 +14.9% Gains (losses) on financial transactions and oth
Slide 53: Other Europe (Constant EUR mn)
Other Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 6 30 36 36 5 19 +274.3% 37 24 -35.3% Net fee income 65 75 87 81 75 87 +16.2% 140 161 +14.9% Gains (losses) on financial transaction
Slide 54: Digital Consumer Bank Europe (EUR mn)
Digital Consumer Bank Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,029 1,011 1,069 1,083 1,095 1,092 -0.2% 2,040 2,187 +7.2% Net fee income 191 203 210 192 220 231 +5.2% 394 451 +14.4% Gain
Slide 55: Digital Consumer Bank Europe (Constant EUR mn)
Digital Consumer Bank Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,031 1,017 1,071 1,088 1,094 1,093 -0.1% 2,048 2,187 +6.8% Net fee income 191 204 211 192 220 231 +5.2% 395 451 +1
Slide 56: North America (EUR mn)
North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 2,448 2,483 2,602 2,626 2,611 2,636 +1.0% 4,931 5,247 +6.4% Net fee income 521 555 560 555 638 662 +3.7% 1,077 1,300 +20.7% Gains (losses)
Slide 57: North America (Constant EUR mn)
North America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 2,518 2,535 2,619 2,646 2,613 2,634 +0.8% 5,053 5,247 +3.8% Net fee income 546 571 563 562 638 661 +3.6% 1,117 1,300 +16.3% Gains
Slide 58: United States (EUR mn)
United States (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,465 1,436 1,414 1,428 1,396 1,428 +2.2% 2,901 2,824 -2.6% Net fee income 190 200 189 187 267 272 +2.1% 390 539 +38.3% Gains (losses) on f
Slide 59: United States (Constant EUR mn)
United States (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,454 1,445 1,423 1,421 1,402 1,422 +1.4% 2,899 2,824 -2.6% Net fee income 188 202 191 186 268 271 +1.3% 390 539 +38.3% Gains (los
Slide 60: United States (USD mn)
United States (USD mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,572 1,562 1,538 1,536 1,516 1,537 +1.4% 3,134 3,053 -2.6% Net fee income 203 218 206 201 290 293 +1.3% 421 583 +38.3% Gains (losses) on f
Slide 61: Mexico (EUR mn)
Mexico (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 983 1,045 1,186 1,195 1,214 1,207 -0.6% 2,027 2,421 +19.4% Net fee income 320 344 356 355 359 374 +4.2% 663 733 +10.5% Gains (losses) on financial
Slide 62: Mexico (Constant EUR mn)
Mexico (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 1,064 1,088 1,194 1,222 1,211 1,210 -0.0% 2,151 2,421 +12.6% Net fee income 346 358 357 362 358 375 +4.8% 704 733 +4.1% Gains (losses) on
Slide 63: Mexico (MXN mn)
Mexico (MXN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 19,669 20,110 22,081 22,597 22,390 22,383 -0.0% 39,779 44,773 +12.6% Net fee income 6,400 6,619 6,599 6,700 6,621 6,937 +4.8% 13,019 13,559 +4.1%
Slide 64: Other North America (EUR mn)
Other North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 0 3 2 3 1 2 +224.7% 3 2 -32.9% Net fee income 12 11 15 13 12 15 +22.9% 23 27 +17.1% Gains (losses) on financial transactions and othe
Slide 65: Other North America (Constant EUR mn)
Other North America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 0 3 2 3 1 2 +228.4% 3 2 -32.9% Net fee income 12 11 15 13 12 15 +23.0% 23 27 +17.1% Gains (losses) on financial transactions
Slide 66: South America (EUR mn)
South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 3,163 3,314 3,356 3,206 4,185 3,649 -12.8% 6,477 7,835 +21.0% Net fee income 1,166 1,229 1,264 1,025 1,182 1,176 -0.5% 2,395 2,358 -1.6% Ga
Slide 67: South America (Constant EUR mn)
South America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 3,144 3,225 3,263 3,110 4,135 3,700 -10.5% 6,369 7,835 +23.0% Net fee income 1,158 1,192 1,224 995 1,166 1,192 +2.2% 2,350 2,358 +
Slide 68: Brazil (EUR mn)
Brazil (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 2,105 2,180 2,327 2,504 2,630 2,605 -1.0% 4,285 5,235 +22.2% Net fee income 817 858 902 885 846 888 +4.9% 1,675 1,734 +3.6% Gains (losses) on fina
Slide 69: Brazil (Constant EUR mn)
Brazil (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 2,137 2,139 2,252 2,433 2,575 2,660 +3.3% 4,276 5,235 +22.4% Net fee income 829 842 873 860 829 906 +9.3% 1,671 1,734 +3.8% Gains (losses
Slide 70: Brazil (BRL mn)
Brazil (BRL mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 11,731 11,745 12,364 13,359 14,135 14,604 +3.3% 23,476 28,739 +22.4% Net fee income 4,550 4,625 4,791 4,719 4,549 4,973 +9.3% 9,175 9,521 +3.8% Ga
Slide 71: Chile (EUR mn)
Chile (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 371 356 241 415 352 472 +34.1% 727 824 +13.3% Net fee income 153 163 133 122 129 137 +6.4% 316 265 -16.1% Gains (losses) on financial transactions
Slide 72: Chile (Constant EUR mn)
Chile (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 318 306 224 386 356 468 +31.4% 623 824 +32.2% Net fee income 131 140 122 117 130 135 +4.0% 271 265 -2.1% Gains (losses) on financial trans
Slide 73: Chile (CLP mn)
Chile (CLP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 322,790 310,631 227,113 392,690 361,759 475,476 +31.4% 633,420 837,235 +32.2% Net fee income 133,249 142,289 124,044 118,714 132,221 137,526 +4.0%
Slide 74: Argentina (EUR mn)
Argentina (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 532 606 629 112 1,025 397 -61.2% 1,138 1,423 +25.0% Net fee income 137 145 164 (50) 131 73 -44.6% 282 204 -27.6% Gains (losses) on financial tr
Slide 75: Argentina (Argentine peso mn)
Argentina (Argentine peso mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 120,749 197,821 335,842 1,024,801 949,444 1,183,149 +24.6% 318,570 2,132,594 — Net fee income 31,111 47,835 86,223 188,633 121,575 1
Slide 76: Other South America (EUR mn)
Other South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 154 172 160 176 178 175 -1.4% 327 353 +8.2% Net fee income 59 62 65 67 75 78 +4.0% 122 154 +26.4% Gains (losses) on financial transac
Slide 77: Other South America (Constant EUR mn)
Other South America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'24 / Q1'24 H1'23 H1'24 H1'24 / H1'23 Net interest income 157 174 158 178 179 174 -2.7% 331 353 +6.6% Net fee income 61 64 65 68 76 78 +3.0% 125 154 +22.7% Gains (losses) on financia
Slide 78: Supplementary information
Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements New primary segments (under the new definitions applicable from 1 January 2024) Secondary segments (regions and countries) Glossary 78
Slide 79: Glossary - Acronyms
Glossary - Acronyms ❑ ALCO: Assets and Liabilities Committee ❑ MREL: Minimum requirement for own funds and eligible liabilities ❑ AT1: Additional Tier 1 ❑ NII: Net interest income ❑ bn: Billion ❑ NPL: Non-performing loans ❑ Bps: basis points ❑ PBT: Profit before tax ❑ CET1: Common equity tier 1 ❑ P&
Slide 80: Glossary - Definitions
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 asse
Slide 81: 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: