Banco Santander, S.A. Files 20-F for 2024

As previously announced, Banco Santander, S.A. (NYSE: SAN) (BMAD: SAN) filed its 20-F Annual Report for the year ended December 31, 2024, with the U.S. Securities and Exchange Commission (SEC). Santander has also published its audited financial statements, Notice of Annual General Meeting and Proxy Statement, and Letter to Shareholders on its website, www.santander.com.

Santander’s core profit rose more than 18% in 2024, reaching €16.1 billion, while all-important net interest income increased by more than 6%, driven by growth in assets and disciplined pricing strategies. Returns paid to shareholders, including dividends and buybacks, amounted to €7.3 billion, a increase of 30% versus the previous year. In addition, the bank exceeded its target of reaching a fully-loaded Common Equity Tier 1 (CET1) ratio of 13% in 2024, ending the year at 13.8%, thereby underpinning the strength of its balance sheet and providing capacity for growth.

In 2024, Santander made further progress in delivering its key strategic priorities, including growing markets, securing its position as the largest global bank in the eurozone, and advancing in the UK, while also maintaining a strong presence in Mexico, Brazil, and the United States. Furthermore, the bank continued to enhance its digital capabilities, introducing new customer experiences through innovative partnerships, while also continuing to invest in fintech and proptech ventures.

On March 1, 2025, Santander held an Annual General Meeting (AGM), where executive chairman Ana Botín, chief executive officer Jose Antonio Alvarez, and chief financial officer Jose M. Linares reviewed the bank’s performance and outlined the strategic priorities for 2025. In addition, the board of directors proposed a dividend of €0.04 per share to be paid on April 1, 2025, corresponding to a payout of 50% of profit attributable to shareholders in 2024.

For more information on Santander’s financial performance and sustainability strategy, including its Climate Action Plan, please see the bank’s full Annual Report at www.santander.com.

About Banco Santander

Banco Santander, S.A. (NYSE: SAN) (BMAD: SAN) is a leading global bank serving customers in the U.K., Europe, the Americas, and Asia. Based on our low-risk profile and our leading digital platform, we provide retail and wholesale financial services to more than 100 million customers worldwide. Our focus on putting our customers first, supporting businesses, and communities, and tackling climate change, has led to a strong and sustainable performance, with a long-term credit rating of AAA by Moody’s, Fitch, and S&P.

For more information on Santander, please visit www.santander.com.