Banco Santander SA
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2024 · Filed Feb 28, 2025
Contents
2. GROUP SELECTED DATA
- GROUP SELECTED DATA
| BALANCE SHEET (EUR million) | Dec-24 | Dec-23 | % Dec-24 vs. Dec-23 | Dec-22 |
|---|---|---|---|---|
| Total assets | 1,837,081 | 1,797,062 | 2.2 | 1,734,659 |
| Loans and advances to customers | 1,054,069 | 1,036,349 | 1.7 | 1,036,004 |
| Customer deposits | 1,055,936 | 1,047,169 | 0.8 | 1,009,722 |
| Total funds A | 1,348,422 | 1,306,942 | 3.2 | 1,239,981 |
| Total equity | 107,327 | 104,241 | 3.0 | 97,585 |
| INCOME STATEMENT (EUR million) | 2024 | 2023 | % 2024 vs. 2023 | 2022 |
|---|---|---|---|---|
| Net interest income | 46,668 | 43,261 | 7.9 | 38,619 |
| Total income | 61,876 | 57,423 | 7.8 | 52,117 |
| Net operating income | 35,842 | 31,998 | 12.0 | 28,214 |
| Profit before tax | 19,027 | 16,459 | 15.6 | 15,250 |
| Profit attributable to the parent | 12,574 | 11,076 | 13.5 | 9,605 |
| EPS, PROFITABILITY AND EFFICIENCY (%) · 2024 · 2023 · % 2024 vs. 2023 · 2022 | |||||
|---|---|---|---|---|---|
| Earnings per share (euro) | 0.77 | 0.65 | 17.9 | 0.54 | |
| RoE B | 13.0 | 11.9 | 10.7 | ||
| RoTE B | 16.3 | 15.1 | 13.4 | ||
| RoA B | 0.76 | 0.69 | 0.63 | ||
| RoRWA B | 2.18 | 1.96 | 1.77 | ||
| Efficiency ratio B | 41.8 | 44.1 | 45.8 | ||
| UNDERLYING INCOME STATEMENT B (EUR million) | 2024 | 2023 | % 2024 vs. 2023 | 2022 |
|---|---|---|---|---|
| Net interest income | 46,668 | 43,261 | 7.9 | 38,619 |
| Total income | 62,211 | 57,647 | 7.9 | 52,154 |
| Net operating income | 36,177 | 32,222 | 12.3 | 28,251 |
| Profit before tax | 19,027 | 16,698 | 13.9 | 15,250 |
| Profit attributable to the parent | 12,574 | 11,076 | 13.5 | 9,605 |
| % changes in constant euros (2024 vs. 2023): | ||||
| NII: +9.5%; Total income: +9.9%; Net operating income: +14.6%; Profit before tax: +15.6%; Attributable profit: +15.3%. | ||||
Note: for Argentina and any grouping which includes it, the variations in constant euros have been calculated considering the Argentine peso exchange rate on the last working day for each of the periods presented. Additionally, in 2024, for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior years). For further information, see section 8. 'Alternative performance measures' of this chapter.Certain figures contained in this chapter, have been subject to rounding to enhance their presentation. Accordingly, in certain instances, the sum of the numbers in a column or a row in tables contained in this report may not conform exactly to the total figure given for that column or row.
Annual report 2024392
| Contents | Business model and strategy | Sustainability statement | Corporate governance | Economic and financial review | Risk management and compliance |
| SOLVENCY (%) | Dec-24 | Dec-23 | Dec-22 |
|---|---|---|---|
| Fully-loaded CET1 capital ratio | 12.8 | 12.3 | 12.0 |
| Fully-loaded total capital ratio | 17.2 | 16.3 | 15.8 |
| CREDIT QUALITY (%) B | Dec-24 | Dec-23 | Dec-22 |
|---|---|---|---|
| Cost of risk C | 1.15 | 1.18 | 0.99 |
| NPL ratio | 3.05 | 3.14 | 3.08 |
| NPL coverage ratio | 65 | 66 | 68 |
| THE SHARE AND MARKET CAPITALIZATION · Dec-24 · Dec-23 · % Dec-24 vs. Dec-23 · Dec-22 | |||||
|---|---|---|---|---|---|
| Number of shareholders | 3,485,134 | 3,662,377 | (4.8) | 3,915,388 | |
| Number of shares (millions) | 15,152 | 16,184 | (6.4) | 16,794 | |
| Share price (euro) | 4.465 | 3.780 | 18.1 | 2.803 | |
| Market capitalization (EUR million) | 67,648 | 61,168 | 10.6 | 47,066 | |
| Tangible book value per share (euro) | 5.24 | 4.76 | 4.26 | ||
| Price / Tangible book value per share (X) | 0.85 | 0.79 | 0.66 | ||
| CUSTOMERS (thousands) | Dec-24 | Dec-23 | % Dec-24 vs. Dec-23 | Dec-22 |
|---|---|---|---|---|
| Total customers | 172,537 | 164,542 | 4.9 | 159,844 |
| Active customers D | 103,262 | 99,503 | 3.8 | 99,190 |
| Digital customers E | 59,317 | 54,161 | 9.5 | 51,471 |
| OPERATING DATA | Dec-24 | Dec-23 | % Dec-24 vs. Dec-23 | Dec-22 |
|---|---|---|---|---|
| Number of employees | 206,753 | 212,764 | (2.8) | 206,462 |
| Number of branches | 8,011 | 8,518 | (6.0) | 9,019 |
A. Includes customer deposits, mutual funds, pension funds and managed portfolios.
B. In addition to IFRS measures, we present non-IFRS measures including some which we refer to as underlying measures. These non-IFRS measures exclude items outside the ordinary course of business and reclassify certain items under some headings of the underlying income statement as described at the end of section 3.2 'Results' and in section 8. 'Alternative Performance Measures' of this chapter. In our view, this provides a better year-on-year comparison.
C. Allowances for loan-loss provisions over the last 12 months / Average loans and advances to customers over the last 12 months.
D. Those customers who comply with the minimum balance and/or transactionality requirements as defined according to the business area.
E. Every physical or legal person, that, being part of a commercial bank, has logged in to its personal area of internet banking or mobile phone or both in the last 30 days.
Annual report 2024393
| Contents | Business model and strategy | Sustainability statement | Corporate governance | Economic and financial review | Risk management and compliance |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.