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v3.26.1

Primary and secondary segments reporting (Tables) | 12 Months Ended
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Dec. 31, 2025
Disclosure of operating segments [abstract] |
Schedule of condensed balance sheets and condensed underlying income statements by primary and secondary segments | The main masses of the balance sheets of the different segments, summarized, are indicated below:
EUR million |
| 2025
Balance sheet (condensed) | Retail & Commercial Banking | Openbank | Corporate & Investment Banking | Wealth Management & Insurance | Payment Solutions | Corporate Centre | Total
Loans and advances to customers | 594,262 |  | 203,857 |  | 204,210 |  | 26,516 |  | 977 |  | 7,465 |  | 1,037,288 |
Customer deposits | 628,026 |  | 129,946 |  | 221,321 |  | 59,127 |  | 1,392 |  | 1,387 |  | 1,041,200 |
Memorandum items |  |  |  |  |  |  |
Gross loans and advances to customers A | 591,287 |  | 211,894 |  | 146,065 |  | 26,680 |  | 1,002 |  | 7,537 |  | 984,466 |
Customers funds | 726,779 |  | 138,999 |  | 149,731 |  | 181,509 |  | 1,392 |  | 1,387 |  | 1,199,798 |
Customer deposits B | 616,402 |  | 129,909 |  | 137,267 |  | 58,051 |  | 1,392 |  | 1,387 |  | 944,409 |
Mutual funds | 110,377 |  | 9,089 |  | 12,464 |  | 123,458 |  | — |  | — |  | 255,389 |
EUR million |
| 2024
Balance sheet (condensed) | Retail & Commercial Banking | Openbank | Corporate & Investment Banking | Wealth Management & Insurance | Payment Solutions | Corporate Centre | Total
Loans and advances to customers | 598,852 |  | 207,107 |  | 178,746 |  | 24,478 |  | 1,066 |  | 6,911 |  | 1,017,160 |
Customer deposits | 618,628 |  | 128,975 |  | 198,872 |  | 56,663 |  | 1,038 |  | 1,430 |  | 1,005,605 |
Memorandum items |  |  |  |  |  |  |
Gross loans and advances to customers A | 600,230 |  | 215,164 |  | 130,840 |  | 24,643 |  | 1,087 |  | 6,997 |  | 978,961 |
Customers funds | 706,505 |  | 137,122 |  | 147,492 |  | 161,304 |  | 1,038 |  | 1,299 |  | 1,154,759 |
Customer deposits B | 607,094 |  | 128,933 |  | 133,433 |  | 55,736 |  | 1,038 |  | 1,299 |  | 927,533 |
Mutual funds | 99,411 |  | 8,189 |  | 14,059 |  | 105,568 |  | — |  | — |  | 227,226 |
EUR million |
| 2023
Balance sheet (condensed) | Retail & Commercial Banking | Openbank | Corporate & Investment Banking | Wealth Management & Insurance | Payment Solutions | Corporate Centre | Total
Loans and advances to customers | 610,528 |  | 199,158 |  | 163,627 |  | 22,456 |  | 1,165 |  | 6,531 |  | 1,003,465 |
Customer deposits | 629,243 |  | 115,446 |  | 200,592 |  | 54,462 |  | 1,418 |  | 1,508 |  | 1,002,669 |
Memorandum items |  |  |  |  |  |  |
Gross loans and advances to customers A | 611,882 |  | 206,649 |  | 132,308 |  | 22,550 |  | 1,194 |  | 6,608 |  | 981,192 |
Customers funds | 688,569 |  | 120,996 |  | 166,721 |  | 148,292 |  | 1,418 |  | 1,508 |  | 1,127,503 |
Customer deposits B | 600,871 |  | 114,334 |  | 152,156 |  | 53,599 |  | 1,418 |  | 1,508 |  | 923,884 |
Mutual funds | 87,698 |  | 6,662 |  | 14,565 |  | 94,693 |  | — |  | — |  | 203,618 |
A. Excluding reverse repos. B. Excluding repos. The condensed income statements for the primary segments are as follows:
EUR million
| 2025
Underlying income statement (condensed) | Retail & Commercial Banking | Openbank | Corporate & Investment Banking | Wealth Management & Insurance | Payment Solutions | Corporate Centre | Total
Net interest income A | 26,528 |  | 11,036 |  | 3,824 |  | 1,335 |  | 167 |  | (490) |  | 42,401 |
Net fee income | 6,222 |  | 1,479 |  | 2,552 |  | 1,642 |  | 1,059 |  | (27) |  | 12,928 |
Gains (losses) on financial transactions B | 680 |  | (11) |  | 1,281 |  | 512 |  | (24) |  | (82) |  | 2,354 |
Other operating income C | (983) |  | 511 |  | 359 |  | 552 |  | 171 |  | 14 |  | 625 |
Total income | 32,447 |  | 13,015 |  | 8,016 |  | 4,042 |  | 1,373 |  | (585) |  | 58,308 |
Total Costs | (13,913) |  | (5,680) |  | (3,752) |  | (1,444) |  | (1,203) |  | (417) |  | (26,410) |
Net operating income D | 18,534 |  | 7,335 |  | 4,264 |  | 2,598 |  | 170 |  | (1,003) |  | 31,898 |
Net loan-loss provisions E | (7,150) |  | (4,457) |  | (278) |  | (20) |  | (24) |  | (198) |  | (12,128) |
Other gains (losses) and provisions F | (385) |  | (312) |  | (37) |  | (14) |  | (12) |  | (75) |  | (834) |
Operating profit/(loss) before tax | 10,998 |  | 2,566 |  | 3,949 |  | 2,564 |  | 134 |  | (1,275) |  | 18,936 |
Tax on profit | (2,974) |  | (489) |  | (1,114) |  | (532) |  | (19) |  | 190 |  | (4,939) |
Profit from continuing operations | 8,024 |  | 2,077 |  | 2,835 |  | 2,032 |  | 115 |  | (1,085) |  | 13,997 |
Net profit from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit | 8,024 |  | 2,077 |  | 2,835 |  | 2,032 |  | 115 |  | (1,085) |  | 13,997 |
Non-controlling interests | (314) |  | (336) |  | (127) |  | (50) |  | (19) |  | — |  | (845) |
Underlying profit attributable to the parent | 7,710 |  | 1,741 |  | 2,708 |  | 1,983 |  | 96 |  | (1,085) |  | 13,152 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes an addition of EUR 50 million mainly corresponding to the results by commitments and contingent risks includes in the line of the statutory income statement of provisions or reversal of provisions. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except an addition EUR 50 million mainly corresponding to the results by commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognised in results and Gains or losses on non-current assets held for sale not classified as discontinued operations.
EUR million
| 2024
Underlying income statement (condensed) | Retail & Commercial Banking | Openbank | Corporate & Investment Banking | Wealth Management & Insurance | Payment Solutions | Corporate Centre | Total
Net interest income A | 27,854 |  | 10,777 |  | 3,779 |  | 1,591 |  | 132 |  | (308) |  | 43,824 |
Net fee income | 6,022 |  | 1,508 |  | 2,415 |  | 1,442 |  | 958 |  | (11) |  | 12,335 |
Gains (losses) on financial transactions B | 805 |  | (4) |  | 1,568 |  | 256 |  | — |  | (408) |  | 2,216 |
Other operating income C | (1,617) |  | 596 |  | 136 |  | 298 |  | 150 |  | 47 |  | (391) |
Total income | 33,064 |  | 12,877 |  | 7,897 |  | 3,587 |  | 1,240 |  | (680) |  | 57,984 |
Total Costs | (14,704) |  | (5,576) |  | (3,922) |  | (1,403) |  | (1,209) |  | (540) |  | (27,354) |
Net operating income D | 18,359 |  | 7,302 |  | 3,975 |  | 2,183 |  | 31 |  | (1,220) |  | 30,630 |
Net loan-loss provisions E | (7,064) |  | (4,562) |  | (141) |  | (42) |  | (16) |  | 3 |  | (11,822) |
Other gains (losses) and provisions F | (545) |  | (512) |  | (19) |  | (8) |  | (247) |  | (99) |  | (1,431) |
Operating profit/(loss) before tax | 10,750 |  | 2,228 |  | 3,815 |  | 2,134 |  | (233) |  | (1,317) |  | 17,377 |
Tax on profit | (3,132) |  | (294) |  | (1,023) |  | (509) |  | (57) |  | 162 |  | (4,853) |
Profit from continuing operations | 7,619 |  | 1,934 |  | 2,792 |  | 1,624 |  | (290) |  | (1,155) |  | 12,524 |
Net profit from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit | 7,619 |  | 1,934 |  | 2,792 |  | 1,624 |  | (290) |  | (1,155) |  | 12,524 |
Non-controlling interests | (273) |  | (275) |  | (153) |  | (40) |  | (9) |  | 1 |  | (750) |
Underlying profit attributable to the parent | 7,345 |  | 1,659 |  | 2,639 |  | 1,584 |  | (299) |  | (1,154) |  | 11,774 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D.'Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E.'Net Loan loss provisions' refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes an addition of EUR 47 million mainly corresponding to the results by commitments and contingent risks includes in the line of the statutory income statement of provisions or reversal of provisions. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except an addition of EUR 47 million mainly corresponding to the results by commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognised in results and Gains or losses on non-current assets held for sale not classified as discontinued operations.
EUR million
| 2023
Underlying income statement (condensed) | Retail & Commercial Banking | Openbank | Corporate & Investment Banking | Wealth Management & Insurance | Payment Solutions | Corporate Centre | Total
Net interest income A | 25,586 |  | 10,221 |  | 3,361 |  | 1,499 |  | 92 |  | (41) |  | 40,718 |
Net fee income | 6,077 |  | 1,229 |  | 2,013 |  | 1,209 |  | 954 |  | (13) |  | 11,468 |
Gains (losses) on financial transactions B | 837 |  | 116 |  | 1,748 |  | 178 |  | (10) |  | (302) |  | 2,566 |
Other operating income C | (1,707) |  | 709 |  | (22) |  | 197 |  | 97 |  | (86) |  | (812) |
Total income | 30,792 |  | 12,274 |  | 7,100 |  | 3,082 |  | 1,134 |  | (442) |  | 53,940 |
Total Costs | (14,757) |  | (5,526) |  | (3,381) |  | (1,266) |  | (1,111) |  | (460) |  | (26,501) |
Net operating income D | 16,036 |  | 6,748 |  | 3,719 |  | 1,816 |  | 23 |  | (901) |  | 27,439 |
Net loan-loss provisions E | (7,542) |  | (4,106) |  | (132) |  | 19 |  | (24) |  | 2 |  | (11,784) |
Other gains (losses) and provisions F | (298) |  | 35 |  | (9) |  | (1) |  | (15) |  | (62) |  | (350) |
Operating profit/(loss) before tax | 8,195 |  | 2,677 |  | 3,578 |  | 1,834 |  | (17) |  | (961) |  | 15,305 |
Tax on profit | (2,076) |  | (426) |  | (1,086) |  | (429) |  | (59) |  | (36) |  | (4,112) |
Profit from continuing operations | 6,120 |  | 2,251 |  | 2,491 |  | 1,405 |  | (75) |  | (998) |  | 11,193 |
Net profit from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit | 6,120 |  | 2,251 |  | 2,491 |  | 1,405 |  | (75) |  | (998) |  | 11,193 |
Non-controlling interests | (232) |  | (350) |  | (163) |  | (45) |  | (1) |  | — |  | (791) |
Underlying profit attributable to the parent | 5,887 |  | 1,901 |  | 2,328 |  | 1,360 |  | (77) |  | (998) |  | 10,402 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes a release of EUR 38 million mainly corresponding to the results by commitments and contingent risks includes in the line of the statutory income statement of provisions or reversal of provisions. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except a release of EUR 38 million mainly corresponding to the results by commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognised in results and Gains or losses on non-current assets held for sale not classified as discontinued operations. The main masses of the balance sheets of the different secondary segments, summarized, are indicated below:
EUR million
| 2025
Balance sheet (condensed) | Spain | United Kingdom | Portugal | Openbank Europe | United States | Mexico
Loans and advances to customers | 264,950 |  | 242,624 |  | 41,260 |  | 139,322 |  | 132,659 |  | 48,083 |
Customer deposits | 354,943 |  | 225,708 |  | 40,576 |  | 82,359 |  | 122,000 |  | 55,595 |
Memorandum items |  |  |  |  |  |
Gross loans and advances to customers A | 237,385 |  | 228,273 |  | 41,980 |  | 142,477 |  | 108,950 |  | 49,442 |
Customers funds | 429,464 |  | 227,160 |  | 46,201 |  | 87,559 |  | 103,178 |  | 68,201 |
Customer deposits B | 322,070 |  | 219,440 |  | 40,576 |  | 82,359 |  | 87,686 |  | 45,498 |
Mutual funds | 107,394 |  | 7,719 |  | 5,625 |  | 5,200 |  | 15,492 |  | 22,703 |
EUR million
| 2025
Balance sheet (condensed) | Brazil | Chile | Argentina | Corporate Center | Rest of the Group | Total
Loans and advances to customers | 87,653 |  | 39,924 |  | 8,032 |  | 7,465 |  | 25,315 |  | 1,037,288 |
Customer deposits | 92,256 |  | 29,503 |  | 9,959 |  | 1,387 |  | 26,913 |  | 1,041,200 |
Memorandum items |  |  |  |  |  |
Gross loans and advances to customers A | 93,030 |  | 40,986 |  | 8,611 |  | 7,537 |  | 25,796 |  | 984,466 |
Customers funds | 132,580 |  | 42,256 |  | 15,894 |  | 1,387 |  | 45,916 |  | 1,199,798 |
Customer deposits B | 80,449 |  | 28,293 |  | 9,959 |  | 1,387 |  | 26,691 |  | 944,409 |
Mutual funds | 52,132 |  | 13,963 |  | 5,934 |  | — |  | 19,225 |  | 255,389 |
EUR million
| 2024
Balance sheet (condensed) | Spain | United Kingdom | Portugal | Openbank Europe | United States | Mexico
Loans and advances to customers | 246,897 |  | 246,453 |  | 38,410 |  | 137,038 |  | 134,856 |  | 45,054 |
Customer deposits | 323,425 |  | 230,408 |  | 38,304 |  | 81,376 |  | 125,403 |  | 49,836 |
Memorandum items |  |  |  |  |  |
Gross loans and advances to customers A | 225,759 |  | 236,496 |  | 39,143 |  | 139,927 |  | 117,511 |  | 44,715 |
Customers funds | 399,999 |  | 230,479 |  | 43,186 |  | 85,876 |  | 108,246 |  | 61,160 |
Customer deposits B | 306,389 | 222,835 | 38,304 | 81,376 | 93,545 | 41,528
Mutual funds | 93,609 | 7,643 | 4,882 | 4,500 | 14,702 | 19,632
EUR million
| 2024
Balance sheet (condensed) | Brazil | Chile | Argentina | Corporate Center | Rest of the Group | Total
Loans and advances to customers | 88,620 |  | 40,332 |  | 7,684 |  | 6,911 |  | 24,905 |  | 1,017,160 |
Customer deposits | 93,994 |  | 30,181 |  | 11,293 |  | 1,430 |  | 19,955 |  | 1,005,605 |
Memorandum items |  |  |  |  |  |
Gross loans and advances to customers A | 93,785 |  | 41,405 |  | 7,938 |  | 6,997 |  | 25,285 |  | 978,961 |
Customers funds | 129,881 |  | 43,383 |  | 17,047 |  | 1,299 |  | 34,204 |  | 1,154,759 |
Customer deposits B | 81,378 |  | 30,060 |  | 11,293 |  | 1,299 |  | 19,527 |  | 927,533 |
Mutual funds | 48,503 |  | 13,324 |  | 5,754 |  | — |  | 14,677 |  | 227,226 |
EUR million
| 2023
Balance sheet (condensed) | Spain | United Kingdom | Portugal | Openbank Europe | United States | Mexico
Loans and advances to customers | 239,214 |  | 245,743 |  | 36,864 |  | 132,692 |  | 126,843 |  | 47,905 |
Customer deposits | 324,099 |  | 233,453 |  | 36,366 |  | 69,334 |  | 121,782 |  | 53,703 |
Memorandum items |  |  |  |  |  |
Gross loans and advances to customers A | 229,803 |  | 235,111 |  | 37,658 |  | 135,202 |  | 112,671 |  | 48,688 |
Customers funds | 386,810 |  | 231,667 |  | 40,618 |  | 72,963 |  | 108,062 |  | 62,775 |
Customer deposits B | 308,745 |  | 224,396 |  | 36,366 |  | 69,334 |  | 95,697 |  | 45,693 |
Mutual funds | 78,065 |  | 7,272 |  | 4,252 |  | 3,629 |  | 12,364 |  | 17,082 |
EUR million
| 2023
Balance sheet (condensed) | Brazil | Chile | Argentina | Corporate Center | Rest of the Group | Total
Loans and advances to customers | 96,399 |  | 42,616 |  | 3,767 |  | 6,531 |  | 24,892 |  | 1,003,465 |
Customer deposits | 110,162 |  | 29,578 |  | 6,478 |  | 1,508 |  | 16,207 |  | 1,002,669 |
Memorandum items |  |  |  |  |  |
Gross loans and advances to customers A | 102,583 |  | 43,823 |  | 3,878 |  | 6,608 |  | 25,164 |  | 981,192 |
Customers funds | 145,044 |  | 40,098 |  | 10,288 |  | 1,508 |  | 27,670 |  | 1,127,503 |
Customer deposits B | 90,297 |  | 29,337 |  | 6,478 |  | 1,508 |  | 16,034 |  | 923,884 |
Mutual funds | 54,747 |  | 10,761 |  | 3,810 |  | — |  | 11,636 |  | 203,618 |
A. Excluding reverse repos. B. Excluding repos. The condensed income statements are as follow
EUR million
| 2025
Underlying income statement (condensed) | Spain | United Kingdom | Portugal | Openbank Europe | United States | Mexico
Net interest income A | 7,305 | 5,008 |  | 1,346 |  | 4,685 |  | 5,888 |  | 4,554 |
Net fee income | 3,022 |  | 369 |  | 506 |  | 804 |  | 1,328 |  | 1,454 |
Gains (losses) on financial transactions B | 841 |  | (100) |  | 70 |  | (39) |  | 547 |  | 427 |
Other operating income C | 720 |  | (245) |  | 33 |  | 474 |  | 165 |  | (130) |
Total income | 11,887 |  | 5,032 |  | 1,956 |  | 5,925 |  | 7,929 |  | 6,305 |
Total Costs | (4,465) |  | (2,937) |  | (544) |  | (2,899) |  | (3,890) |  | (2,730) |
Net operating income D | 7,423 |  | 2,095 |  | 1,412 |  | 3,026 |  | 4,039 |  | 3,575 |
Net loan-loss provisions E | (1,142) |  | (177) |  | 8 |  | (1,363) |  | (2,244) |  | (1,239) |
Other gains (losses) and provisions F | (198) |  | (124) |  | (3) |  | (266) |  | (47) |  | — |
Operating profit/(loss) before tax | 6,083 |  | 1,794 |  | 1,417 |  | 1,398 |  | 1,748 |  | 2,336 |
Tax on profit | (1,811) |  | (486) |  | (405) |  | (322) |  | (207) |  | (627) |
Profit/(loss) from continuing operations | 4,272 |  | 1,307 |  | 1,011 |  | 1,076 |  | 1,541 |  | 1,709 |
Net profit/(loss) from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit/(loss) | 4,272 |  | 1,307 |  | 1,011 |  | 1,076 |  | 1,541 |  | 1,709 |
Non-controlling interests | — |  | — |  | (2) |  | (304) |  | — |  | (4) |
Attributable profit/(loss) to the parent | 4,272 |  | 1,307 |  | 1,010 |  | 772 |  | 1,541 |  | 1,705 |
EUR million
| 2025
Underlying income statement (condensed) | Brazil | Chile | Argentina | Corporate Centre | Rest of the Group | Total Group
Net interest income A | 9,380 | 1,917 |  | 1,727 |  | (490) |  | 1,080 |  | 42,401 |
Net fee income | 3,193 |  | 582 |  | 788 |  | (27) |  | 908 |  | 12,928 |
Gains (losses) on financial transactions B | (64) |  | 230 |  | 229 |  | (82) |  | 296 |  | 2,354 |
Other operating income C | 93 |  | (15) |  | (510) |  | 14 |  | 25 |  | 625 |
Total income | 12,602 |  | 2,714 |  | 2,235 |  | (585) |  | 2,309 |  | 58,308 |
Total Costs | (4,957) |  | (919) |  | (978) |  | (417) |  | (1,676) |  | (26,410) |
Net operating income D | 7,645 |  | 1,795 |  | 1,257 |  | (1,003) |  | 634 |  | 31,898 |
Net loan-loss provisions E | (4,409) |  | (531) |  | (574) |  | (198) |  | (260) |  | (12,128) |
Other gains (losses) and provisions F | (11) |  | (32) |  | (33) |  | (75) |  | (45) |  | (834) |
Operating profit/(loss) before tax | 3,224 |  | 1,232 |  | 650 |  | (1,275) |  | 328 |  | 18,936 |
Tax on profit | (836) |  | (189) |  | (216) |  | 190 |  | (29) |  | (4,939) |
Profit/(loss) from continuing operations | 2,388 |  | 1,043 |  | 434 |  | (1,085) |  | 300 |  | 13,997 |
Net profit/(loss) from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit/(loss) | 2,388 |  | 1,043 |  | 434 |  | (1,085) |  | 300 |  | 13,997 |
Non-controlling interests | (220) |  | (314) |  | (1) |  | — |  | 1 |  | (845) |
Attributable profit/(loss) to the parent | 2,168 |  | 729 |  | 433 |  | (1,085) |  | 300 |  | 13,152 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes an addition of EUR 50 million mainly corresponding to the results by commitments and contingent risks included in the line provisions or reversal of provisions, net of the statutory income statement. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except an addition of EUR 50 million mainly corresponding to the results by commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognized in results and Gains or losses on non-current assets held for sale not classified as discontinued operations.
EUR million
| 2024
Underlying income statement (condensed) | Spain | United Kingdom | Portugal | Openbank Europe | United States | Mexico
Net interest income A | 7,256 | 4,950 |  | 1,548 |  | 4,361 |  | 5,693 |  | 4,631 |
Net fee income | 2,867 |  | 283 |  | 467 |  | 902 |  | 1,152 |  | 1,385 |
Gains (losses) on financial transactions B | 1,100 |  | (18) |  | 45 |  | (24) |  | 371 |  | 396 |
Other operating income C | 358 |  | (203) |  | 5 |  | 405 |  | 365 |  | (133) |
Total income | 11,580 |  | 5,011 |  | 2,065 |  | 5,644 |  | 7,580 |  | 6,278 |
Total Costs | (4,509) |  | (3,050) |  | (574) |  | (2,848) |  | (3,965) |  | (2,727) |
Net operating income D | 7,071 |  | 1,962 |  | 1,492 |  | 2,796 |  | 3,615 |  | 3,551 |
Net loan-loss provisions E | (1,259) |  | (64) |  | (11) |  | (1,209) |  | (2,507) |  | (1,277) |
Other gains (losses) and provisions F | (372) |  | (104) |  | — |  | (456) |  | (55) |  | — |
Operating profit/(loss) before tax | 5,440 |  | 1,794 |  | 1,481 |  | 1,131 |  | 1,053 |  | 2,274 |
Tax on profit | (1,678) |  | (488) |  | (478) |  | (255) |  | 56 |  | (598) |
Profit/(loss) from continuing operations | 3,763 |  | 1,306 |  | 1,003 |  | 876 |  | 1,109 |  | 1,676 |
Net profit/(loss) from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit/(loss) | 3,763 |  | 1,306 |  | 1,003 |  | 876 |  | 1,109 |  | 1,676 |
Non-controlling interests | — |  | — |  | (2) |  | (234) |  | — |  | (5) |
Attributable profit/(loss) to the parent | 3,762 |  | 1,306 |  | 1,001 |  | 642 |  | 1,109 |  | 1,671 |
EUR million
| 2024
Underlying income statement (condensed) | Brazil | Chile | Argentina | Corporate Centre | Rest of the Group | Total Group
Net interest income A | 10,121 | 1,822 |  | 2,919 |  | (308) |  | 832 |  | 43,824 |
Net fee income | 3,414 |  | 551 |  | 602 |  | (11) |  | 722 |  | 12,335 |
Gains (losses) on financial transactions B | (37) |  | 238 |  | 229 |  | (408) |  | 326 |  | 2,216 |
Other operating income C | 39 |  | (18) |  | (1,263) |  | 47 |  | 9 |  | (391) |
Total income | 13,536 |  | 2,592 |  | 2,487 |  | (680) |  | 1,889 |  | 57,984 |
Total Costs | (5,219) |  | (942) |  | (1,337) |  | (540) |  | (1,643) |  | (27,354) |
Net operating income D | 8,318 |  | 1,650 |  | 1,150 |  | (1,220) |  | 246 |  | 30,630 |
Net loan-loss provisions E | (4,487) |  | (497) |  | (284) |  | 3 |  | (230) |  | (11,822) |
Other gains (losses) and provisions F | — |  | (42) |  | (39) |  | (99) |  | (263) |  | (1,431) |
Operating profit/(loss) before tax | 3,830 |  | 1,111 |  | 827 |  | (1,317) |  | (248) |  | 17,377 |
Tax on profit | (1,165) |  | (211) |  | (161) |  | 162 |  | (37) |  | (4,853) |
Profit/(loss) from continuing operations | 2,665 |  | 899 |  | 666 |  | (1,155) |  | (285) |  | 12,524 |
Net profit/(loss) from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit/(loss) | 2,665 |  | 899 |  | 666 |  | (1,155) |  | (285) |  | 12,524 |
Non-controlling interests | (243) |  | (271) |  | (1) |  | 1 |  | 5 |  | (750) |
Attributable profit/(loss) to the parent | 2,422 |  | 629 |  | 665 |  | (1,154) |  | (280) |  | 11,774 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes an addition of EUR 47 million mainly corresponding to the results by commitments and contingent risks included in the line provisions or reversal of provisions, net of the statutory income statement. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except an addition of EUR 47 million mainly corresponding to the results by commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognized in results and Gains or losses on non-current assets held for sale not classified as discontinued operations.
EUR million
| 2023
Underlying income statement (condensed) | Spain | United Kingdom | Portugal | Openbank Europe | United States | Mexico
Net interest income A | 6,641 | 5,152 |  | 1,465 |  | 4,193 |  | 5,742 |  | 4,408 |
Net fee income | 2,699 |  | 338 |  | 464 |  | 796 |  | 766 |  | 1,374 |
Gains (losses) on financial transactions B | 688 |  | 29 |  | 33 |  | 117 |  | 294 |  | 211 |
Other operating income C | (190) |  | (162) |  | (17) |  | 375 |  | 406 |  | (94) |
Total income | 9,837 |  | 5,358 |  | 1,944 |  | 5,481 |  | 7,209 |  | 5,899 |
Total Costs | (4,815) |  | (2,928) |  | (567) |  | (2,751) |  | (3,707) |  | (2,645) |
Net operating income D | 5,022 |  | 2,430 |  | 1,378 |  | 2,730 |  | 3,502 |  | 3,254 |
Net loan-loss provisions E | (1,522) |  | (247) |  | (77) |  | (792) |  | (2,593) |  | (1,135) |
Other gains (losses) and provisions F | (100) |  | (75) |  | 14 |  | 82 |  | (46) |  | — |
Operating profit/(loss) before tax | 3,399 |  | 2,107 |  | 1,314 |  | 2,019 |  | 863 |  | 2,119 |
Tax on profit | (1,029) |  | (563) |  | (416) |  | (493) |  | 69 |  | (541) |
Profit/(loss) from continuing operations | 2,371 |  | 1,545 |  | 898 |  | 1,526 |  | 932 |  | 1,577 |
Net profit/(loss) from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit/(loss) | 2,371 |  | 1,545 |  | 898 |  | 1,526 |  | 932 |  | 1,577 |
Non-controlling interests | — |  | — |  | (2) |  | (327) |  | — |  | (17) |
Attributable profit/(loss) to the parent | 2,371 |  | 1,545 |  | 896 |  | 1,199 |  | 932 |  | 1,560 |
EUR million
| 2023
Underlying income statement (condensed) | Brazil | Chile | Argentina | Corporate Centre | Rest of the Group | Total Group
Net interest income A | 9,116 | 1,383 |  | 1,879 |  | (41) |  | 780 |  | 40,718 |
Net fee income | 3,462 |  | 572 |  | 396 |  | (13) |  | 615 |  | 11,468 |
Gains (losses) on financial transactions B | 483 |  | 320 |  | 341 |  | (302) |  | 353 |  | 2,566 |
Other operating income C | 43 |  | 11 |  | (1,071) |  | (86) |  | (26) |  | (812) |
Total income | 13,104 |  | 2,285 |  | 1,544 |  | (442) |  | 1,721 |  | 53,940 |
Total Costs | (5,430) |  | (953) |  | (831) |  | (460) |  | (1,415) |  | (26,501) |
Net operating income D | 7,674 |  | 1,332 |  | 713 |  | (901) |  | 306 |  | 27,439 |
Net loan-loss provisions E | (4,701) |  | (365) |  | (150) |  | 2 |  | (203) |  | (11,784) |
Other gains (losses) and provisions F | (62) |  | (16) |  | (58) |  | (62) |  | (25) |  | (350) |
Operating profit/(loss) before tax | 2,911 |  | 951 |  | 505 |  | (961) |  | 77 |  | 15,305 |
Tax on profit | (776) |  | (135) |  | (117) |  | (36) |  | (75) |  | (4,112) |
Profit/(loss) from continuing operations | 2,135 |  | 816 |  | 388 |  | (998) |  | 2 |  | 11,193 |
Net profit/(loss) from discontinued operations | — |  | — |  | — |  | — |  | — |  | — |
Consolidated profit/(loss) | 2,135 |  | 816 |  | 388 |  | (998) |  | 2 |  | 11,193 |
Non-controlling interests | (215) |  | (234) |  | (2) |  | — |  | 7 |  | (791) |
Attributable profit/(loss) to the parent | 1,921 |  | 582 |  | 386 |  | (998) |  | 9 |  | 10,402 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes a release of EUR 38 million mainly corresponding to the results by commitments and contingent risks included in the line provisions or reversal of provisions, net of the statutory income statement. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except a release of EUR 38 million mainly corresponding to the results by commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognized in results and Gains or losses on non-current assets held for sale not classified as discontinued operations.
Schedule of reconciliation of consolidated profit after tax to operating profit before tax | The tables below reconcile the statutory basis results to the underlying results for each of the periods presented as required by IFRS 8. For the purposes of these reconciliations, all material reconciling items are separately identified and described. Grupo Santander assets and liabilities for management reporting purposes do not differ from the statutory reported figures and therefore are not reconciled.
EUR million
2025
Reconciliation of statutory results to underlying results | Statutory results | Adjustments related to the Poland disposal | Other adjustments | Underlying results
Net interest income A | 42,348 |  | 53 |  | — |  | 42,401 |
Net fee income | 12,976 |  | (48) |  | — |  | 12,928 |
Gains (losses) on financial transactions B | 2,362 |  | (8) |  | — |  | 2,354 |
Other operating income C | 625 |  | — |  | — |  | 625 |
Total income | 58,311 |  | (3) |  | — |  | 58,308 |
Administrative expenses, depreciation and amortisation | (24,779) |  | 22 |  | — |  | (24,757) |
Other operating costs | 0 |  | 0 |  | (1,653) |  | (1,653) |
Net operating income D | 33,532 |  | 19 |  | (1,653) |  | 31,898 |
Net loan-loss provisions E | (12,596) |  | 1 |  | 467 |  | (12,128) |
Other gains (losses) and provisions F | (2,255) |  | (1) |  | 1,422 |  | (834) |
Operating profit/(loss) before tax | 18,681 |  | 19 |  | 236 |  | 18,936 |
Tax on profit | (4,723) |  | (6) |  | (210) |  | (4,939) |
Adjusted profit for the year from continuing operations | 13,958 |  | 13 |  | 26 |  | 13,997 |
Profit from discontinued operations (net) | 1,542 |  | (1,542) |  | — |  | — |
Consolidated profit/(loss) | 15,500 |  | (1,529) |  | 26 |  | 13,997 |
Non-controlling interests | (1,399) |  | 580 |  | (26) |  | (845) |
Attributable profit/(loss) to the parent | 14,101 |  | (949) |  | — |  | 13,152 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes an addition of EUR 50 million mainly corresponding to the results by commitments and contingent risks includes in the line of the statutory income statement of provisions or reversal of provisions. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except for an addition of EUR 50 million mainly corresponding to results from commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognized in results and Gains or losses on non-current assets held for sale not classified as discontinued operations.
EUR million
2024
Reconciliation of statutory results to underlying results | Statutory results | Adjustments related to the Poland disposal | Other adjustments | Underlying results
Net interest income A | 43,787 |  | 37 |  |  | 43,824 |
Net fee income | 12,376 |  | (41) |  |  | 12,335 |
Gains (losses) on financial transactions B | 2,211 |  | 5 |  |  | 2,216 |
Other operating income C | (331) |  | (60) |  |  | (391) |
Total income | 58,043 |  | (59) |  | — |  | 57,984 |
Administrative expenses, depreciation and amortisation | (25,215) |  | 80 |  | — |  | (25,135) |
Other operating costs | — |  | — |  | (2,219) |  | (2,219) |
Net operating income D | 32,828 |  | 21 |  | (2,219) |  | 30,630 |
Net loan-loss provisions E | (12,183) |  | 9 |  | 352 |  | (11,822) |
Other gains (losses) and provisions F | (3,298) |  | — |  | 1,867 |  | (1,431) |
Operating profit/(loss) before tax | 17,347 |  | 30 |  | — |  | 17,377 |
Tax on profit | (4,844) |  | (9) |  | — |  | (4,853) |
Adjusted profit for the year from continuing operations | 12,503 |  | 21 |  | — |  | 12,524 |
Profit from discontinued operations (net) | 1,241 |  | (1,241) |  | — |  | — |
Consolidated profit/(loss) | 13,744 |  | (1,220) |  | — |  | 12,524 |
Non-controlling interests | (1,170) |  | 420 |  | — |  | (750) |
Attributable profit/(loss) to the parent | 12,574 |  | (800) |  | — |  | 11,774 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes an addition of EUR 47 million mainly corresponding to the results by commitments and contingent risks includes in the line of the statutory income statement of provisions or reversal of provisions. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except for an addition of EUR 47 million mainly corresponding to results from commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognized in results and Gains or losses on non-current assets held for sale not classified as discontinued operations
EUR million
2023
Reconciliation of statutory results to underlying results | Statutory results | Adjustments related to the Poland disposal | Other adjustments | Underlying results
Net interest income A | 40,650 |  | 68 |  | — |  | 40,718 |
Net fee income | 11,495 |  | (27) |  | — |  | 11,468 |
Gains (losses) on financial transactions B | 2,565 |  | 1 |  | — |  | 2,566 |
Other operating income C | (759) |  | (53) |  | — |  | (812) |
Total income | 53,951 |  | (11) |  | — |  | 53,940 |
Administrative expenses, depreciation and amortisation | (24,684) |  | 69 |  | — |  | (24,615) |
Other operating costs | 0 |  | — |  | (1,886) |  | (1,886) |
Net operating income D | 29,267 |  | 58 |  | (1,886) |  | 27,439 |
Net loan-loss provisions E | (12,260) |  | 2 |  | 474 |  | (11,784) |
Other gains (losses) and provisions F | (2,002) |  | 1 |  | 1,651 |  | (350) |
Operating profit/(loss) before tax | 15,005 |  | 61 |  | 239 |  | 15,305 |
Tax on profit | (3,880) |  | (19) |  | (213) |  | (4,112) |
Adjusted profit for the year from continuing operations | 11,125 |  | 42 |  | 26 |  | 11,193 |
Profit from discontinued operations (net) | 1,058 |  | (1,058) |  | — |  | — |
Consolidated profit/(loss) | 12,183 |  | (1,016) |  | 26 |  | 11,193 |
Non-controlling interests | (1,107) |  | 342 |  | (26) |  | (791) |
Attributable profit/(loss) to the parent | 11,076 |  | (674) |  | — |  | 10,402 |
A. Net interest income includes the net amount of the profit and loss account items 'Interest income' and 'Interest expense'. It is presented this way because it is how it is presented to the main operational decision maker. B. Gains (losses) on financial transactions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Gain or losses on financial assets and liabilities not measured at fair value through profit or loss, net, Gain or losses on financial assets and liabilities held for trading, net, Gains or losses on non-trading financial assets and liabilities mandatorily at fair value through profit or loss, net, Gain or losses on financial assets and liabilities measured at fair value through profit or loss, net, Gain or losses from hedge accounting, net and Exchange differences, net. C. Other operating income includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Dividend income; Income from companies accounted for using the equity method, Other operating income, Other operating expenses, Income from assets under insurance or reinsurance contracts and Expenses from liabilities under insurance or reinsurance contracts. D. Net Operating Income is used for the Group’s internal reporting and management reporting purposes but is not a line item in the statutory consolidated income statement. E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes a release of EUR 38 million mainly corresponding to the results by commitments and contingent risks includes in the line of the statutory income statement of provisions or reversal of provisions. F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except a release of EUR 38 million mainly corresponding to results from commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognized in results and Gains or losses on non-current assets held for sale not classified as discontinued operations.

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