Banco Santander (SAN) Investor presentation summary

Strategic overview and business model

• Focused on being the best open financial services platform, guided by simplicity, personalization, and fairness.

• Operates a diversified, global business model with five main segments: Retail, Consumer, CIB, Wealth, and Payments.

• Customer-centric strategy with 180 million total customers, 106 million active, and 63 million digital customers as of Dec 2025.

• Combines global scale with local leadership, holding leading market shares in key regions and products.

• Strong emphasis on digital transformation, omni-channel experience, and leveraging technology for operational efficiency.

Financial performance and results FY'25

• Achieved record attributable profit of €14.1bn (+12% YoY), with double-digit growth for the fourth consecutive year.

• Total revenue reached €62.4bn, with net interest income of €45.4bn and net fee income of €13.7bn.

• Efficiency ratio improved to 41.2%, the best in over 15 years, and ROTE post-AT1 rose to 16.3%.

• Cost of risk remained stable at 1.15%, and CET1 capital ratio increased to 13.5%.

• Tangible net asset value per share plus cash dividends per share grew 14% YoY.

Segment highlights and operational execution

• Retail & Commercial Banking: €7.7bn profit, 17.7% ROTE, 39.4% efficiency, 153 million customers.

• Digital Consumer Bank: €1.7bn profit, 8.6% ROTE, 40.6% efficiency, #1 in auto lending in Europe and South America.

• CIB: €2.8bn profit, 19.1% ROTE, 45.5% efficiency, focus on US growth and digitalization.

• Wealth Management & Insurance: €2.1bn profit, 68.5% ROTE, 35.3% efficiency, €558bn AuM.

• Payments: €0.9bn profit, 34.5% EBITDA margin, 15.5bn transactions, 108 million cards managed.