XML 152 R70.htm IDEA: XBRL DOCUMENT
v3.26.1

Debt securities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Disclosure Of Debt Instruments [Abstract] |
Disclosure of detailed information about debt instruments explanatory | The detail, by classification, type and currency, of Debt securities in the consolidated balance sheets is as follows:
EUR million |
| 2025 | 2024 | 2023
Classification |  |  |
Financial assets held for trading | 98,568 |  | 82,646 |  | 62,124 |
Non-trading financial assets mandatorily at fair value through profit or loss | 245 |  | 447 |  | 860 |
Financial assets designated at fair value through profit or loss | 2,894 |  | 2,897 |  | 3,095 |
Financial assets designated at fair value through other comprehensive income | 58,305 |  | 76,558 |  | 73,565 |
Financial assets at amortised cost | 140,014 |  | 120,949 |  | 103,559 |
| 300,026 |  | 283,497 |  | 243,203 |
Type |  |  |
Spanish government debt securities | 63,742 |  | 56,919 |  | 40,321 |
Foreign government debt securities | 172,468 |  | 164,747 |  | 145,732 |
Issued by financial institutions | 17,465 |  | 16,776 |  | 14,681 |
Other fixed-income securities | 46,029 |  | 44,703 |  | 42,294 |
Impaired financial assets | 842 |  | 701 |  | 461 |
Impairment losses | (520) |  | (349) |  | (286) |
| 300,026 |  | 283,497 |  | 243,203 |
Currency |  |  |
Euro | 142,969 |  | 118,456 |  | 90,857 |
Pound sterling | 14,114 |  | 15,630 |  | 9,284 |
US dollar | 50,671 |  | 48,189 |  | 38,161 |
Brazilian real | 48,231 |  | 44,432 |  | 46,190 |
Other currencies | 44,561 |  | 57,139 |  | 58,997 |
Debt securities excluding impairment adjustments | 300,546 |  | 283,846 |  | 243,489 |
Impairment losses | (520) |  | (349) |  | (286) |
| 300,026 |  | 283,497 |  | 243,203 |
Schedule of debt instruments by origin of issuer | The breakdown, by origin of the issuer, of debt securities at 31 December 2025, 2024 and 2023, net of impairment losses, is as follows:
EUR million
| 2025 |  | 2024 |  | 2023
| Private fixed-income | Public fixed-income | Total | % |  | Private fixed-income | Public fixed-income | Total | % |  | Private fixed-income | Public fixed-income | Total | %
Spain | 2,528 |  | 63,742 |  | 66,270 |  | 22.09 | % |  | 1,901 |  | 56,919 |  | 58,820 |  | 20.75 | % |  | 2,525 |  | 40,321 |  | 42,846 |  | 17.62 | %
United Kingdom | 2,336 |  | 9,227 |  | 11,563 |  | 3.85 | % |  | 3,077 |  | 9,903 |  | 12,980 |  | 4.58 | % |  | 2,816 |  | 4,748 |  | 7,564 |  | 3.11 | %
Portugal | 3,212 |  | 5,627 |  | 8,839 |  | 2.95 | % |  | 3,224 |  | 5,138 |  | 8,362 |  | 2.95 | % |  | 2,826 |  | 4,815 |  | 7,641 |  | 3.14 | %
Italy | 2,821 |  | 24,215 |  | 27,036 |  | 9.01 | % |  | 3,072 |  | 22,954 |  | 26,026 |  | 9.18 | % |  | 2,968 |  | 12,945 |  | 15,913 |  | 6.54 | %
Ireland | 4,239 |  | 42 |  | 4,281 |  | 1.43 | % |  | 4,557 |  | 14 |  | 4,571 |  | 1.61 | % |  | 5,632 |  | 11 |  | 5,643 |  | 2.32 | %
Poland | 22 |  | 1,465 |  | 1,487 |  | 0.50 | % |  | 2,472 |  | 15,224 |  | 17,696 |  | 6.24 | % |  | 2,937 |  | 12,482 |  | 15,419 |  | 6.34 | %
Other European countries | 12,682 |  | 25,894 |  | 38,576 |  | 12.86 | % |  | 11,593 |  | 12,702 |  | 24,295 |  | 8.57 | % |  | 9,797 |  | 15,495 |  | 25,292 |  | 10.40 | %
United States | 14,941 |  | 29,199 |  | 44,140 |  | 14.71 | % |  | 12,475 |  | 27,811 |  | 40,286 |  | 14.21 | % |  | 8,959 |  | 22,992 |  | 31,951 |  | 13.14 | %
Brazil | 13,518 |  | 33,908 |  | 47,426 |  | 15.81 | % |  | 12,738 |  | 32,645 |  | 45,383 |  | 16.01 | % |  | 13,551 |  | 32,342 |  | 45,893 |  | 18.87 | %
Mexico | 3,001 |  | 25,113 |  | 28,114 |  | 9.37 | % |  | 2,190 |  | 20,822 |  | 23,012 |  | 8.12 | % |  | 1,969 |  | 20,738 |  | 22,707 |  | 9.34 | %
Chile | 137 |  | 8,567 |  | 8,704 |  | 2.90 | % |  | 96 |  | 6,982 |  | 7,078 |  | 2.50 | % |  | 49 |  | 11,995 |  | 12,044 |  | 4.95 | %
Other American countries | 3,254 |  | 5,954 |  | 9,208 |  | 3.07 | % |  | 3,336 |  | 4,502 |  | 7,838 |  | 2.76 | % |  | 2,315 |  | 2,546 |  | 4,861 |  | 2.00 | %
Rest of the world | 1,125 |  | 3,257 |  | 4,382 |  | 1.45 | % |  | 1,100 |  | 6,050 |  | 7,150 |  | 2.52 | % |  | 806 |  | 4,623 |  | 5,429 |  | 2.23 | %
| 63,816 |  | 236,210 |  | 300,026 |  | 100 | % |  | 61,831 |  | 221,666 |  | 283,497 |  | 100 | % |  | 57,150 |  | 186,053 |  | 243,203 |  | 100 | %
Disclosure of debt instruments by issuer rating | The detail, by issuer rating, of Debt securities at 31 December 2025, 2024 and 2023 is as follows:
EUR million
| 2025 |  | 2024 |  | 2023
| Private fixed-income | Public fixed-income | Total | % |  | Private fixed-income | Public fixed-income | Total | % |  | Private fixed-income | Public fixed-income | Total | %
AAA | 15,952 |  | 9,320 |  | 25,272 |  | 8.42 | % |  | 16,889 |  | 6,440 |  | 23,329 |  | 8.23 | % |  | 15,152 |  | 7,887 |  | 23,039 |  | 9.47 | %
AA | 19,598 |  | 42,451 |  | 62,049 |  | 20.68 | % |  | 16,972 |  | 47,254 |  | 64,226 |  | 22.65 | % |  | 15,142 |  | 36,704 |  | 51,846 |  | 21.32 | %
A | 13,206 |  | 95,537 |  | 108,743 |  | 36.24 | % |  | 10,056 |  | 87,814 |  | 97,870 |  | 34.53 | % |  | 11,175 |  | 68,112 |  | 79,287 |  | 32.60 | %
BBB | 6,872 |  | 50,066 |  | 56,938 |  | 18.98 | % |  | 8,900 |  | 44,483 |  | 53,383 |  | 18.83 | % |  | 7,749 |  | 39,173 |  | 46,922 |  | 19.29 | %
Below BBB | 5,052 |  | 38,836 |  | 43,888 |  | 14.63 | % |  | 5,543 |  | 35,675 |  | 41,218 |  | 14.54 | % |  | 4,654 |  | 34,177 |  | 38,831 |  | 15.97 | %
Unrated | 3,136 |  | — |  | 3,136 |  | 1.05 | % |  | 3,471 |  | — |  | 3,471 |  | 1.22 | % |  | 3,278 |  | — |  | 3,278 |  | 1.35 | %
| 63,816 |  | 236,210 |  | 300,026 |  | 100 | % |  | 61,831 |  | 221,666 |  | 283,497 |  | 100 | % |  | 57,150 |  | 186,053 |  | 243,203 |  | 100 | %
Schedule of breakdown by type of instrument | The detail, by type of financial instrument, of private fixed-income securities at 31 December 2025, 2024 and 2023, net of impairment losses, is as follows:
EUR million
| 2025 | 2024 | 2023
Securitised mortgage bonds | 10,514 |  | 10,709 |  | 9,310 |
Other asset-backed bonds | 14,073 |  | 11,624 |  | 10,243 |
Floating rate debt | 18,721 |  | 17,323 |  | 15,376 |
Fixed rate debt | 20,508 |  | 22,175 |  | 22,221 |
Total | 63,816 |  | 61,831 |  | 57,150 |
Schedule of changes in impairment losses on debt instruments | The changes in the impairment losses on debt securities are summarised below:
EUR million
| 2025 | 2024 | 2023
Balance at beginning of year | 349 |  | 286 |  | 226 |
Net impairment losses for the year A | 182 |  | 226 |  | 24 |
Of which: |  |  |
Impairment losses charged to income | 238 |  | 234 |  | 36 |
Impairment losses reversed with a credit to income | (56) |  | (8) |  | (12) |
Assets written off | — |  | (131) |  | 0 |
Exchange differences and other items | (11) |  | (32) |  | 36 |
Balance at end of year | 520 |  | 349 |  | 286 |
Of which: |  |  |
By geographical location of risk: |  |  |
European Union | 26 |  | 23 |  | 22 |
America | 494 |  | 326 |  | 264 |
A. Of the EUR 182 million corresponding to net provisions for the year ended 31 December 2025 (EUR 226 million and EUR 24 million at 31 December 2024 and 2023, respectively), EUR 182 million relates to financial assets at amortized cost (EUR 227 million and EUR 23 million at 31 December 2024 and 2023, respectively) and EUR 0 million relates to financial assets designated at fair value through other comprehensive income (EUR -1 million and EUR 1 million at 31 December 2024 and 2023, respectively). Following is the movement of the loan loss provision broken down by impairment stage of loans and advances to customers during 2025, 2024 and 2023:
2025
EUR million
| Stage 1 | Stage 2 | Stage 3 | Total
Loss allowance at the beginning of the year | 3,293 |  | 4,744 |  | 14,088 |  | 22,125 |
Transfers |  |  |  |
To stage 2 from stage 1 | (847) |  | 2,734 |  |  | 1,887 |
To stage 3 from stage 1 | (701) |  |  | 4,931 |  | 4,230 |
To stage 3 from stage 2 |  | (1,189) |  | 2,760 |  | 1,571 |
To stage 1 from stage 2 | 82 |  | (466) |  |  | (384) |
To stage 2 from stage 3 |  | 177 |  | (344) |  | (167) |
To stage 1 from stage 3 | 16 |  |  | (59) |  | (43) |
Net changes of the exposure and modifications in the credit risk | 1,269 |  | (800) |  | 6,581 |  | 7,050 |
Write-offs | — |  | — |  | (13,266) |  | (13,266) |
FX and other movements | (112) |  | (569) |  | (1,164) |  | (1,845) |
Loss allowance at the end of the year | 3,000 |  | 4,631 |  | 13,527 |  | 21,158 |
2024
EUR million
| Stage 1 | Stage 2 | Stage 3 | Total
Loss allowance at the beginning of the year | 3,596 |  | 4,954 |  | 14,238 |  | 22,788 |
Transfers |  |  |  |
To stage 2 from stage 1 | (626) |  | 2,676 |  |  | 2,050 |
To stage 3 from stage 1 | (385) |  |  | 4,548 |  | 4,163 |
To stage 3 from stage 2 |  | (1,591) |  | 3,444 |  | 1,853 |
To stage 1 from stage 2 | 109 |  | (725) |  |  | (616) |
To stage 2 from stage 3 |  | 278 |  | (693) |  | (415) |
To stage 1 from stage 3 | 23 |  |  | (156) |  | (133) |
Net changes of the exposure and modifications in the credit risk | 755 |  | (704) |  | 6,655 |  | 6,706 |
Write-offs | — |  | — |  | (13,212) |  | (13,212) |
FX and other movements | (179) |  | (144) |  | (736) |  | (1,059) |
Loss allowance at the end of the year | 3,293 |  | 4,744 |  | 14,088 |  | 22,125 |
2023
EUR million
| Stage 1 | Stage 2 | Stage 3 | Total
Loss allowance at the beginning of the year | 3,626 |  | 5,127 |  | 13,931 |  | 22,684 |
Transfers |  |  |  |
To stage 2 from stage 1 | (696) |  | 2,954 |  |  | 2,258 |
To stage 3 from stage 1 | (405) |  |  | 4,278 |  | 3,873 |
To stage 3 from stage 2 |  | (1,820) |  | 3,721 |  | 1,901 |
To stage 1 from stage 2 | 149 |  | (905) |  |  | (756) |
To stage 2 from stage 3 |  | 282 |  | (920) |  | (638) |
To stage 1 from stage 3 | 27 |  |  | (184) |  | (157) |
Net changes of the exposure and modifications in the credit risk | 875 |  | (557) |  | 7,212 |  | 7,530 |
Write-offs | — |  | — |  | (13,847) |  | (13,847) |
FX and other movements | 20 |  | (127) |  | 47 |  | (60) |
Loss allowance at the end of the year | 3,596 |  | 4,954 |  | 14,238 |  | 22,788 |
The changes in gross property development loans to customers were as follows:
EUR million |
| 2025 | 2024 | 2023
Balance at beginning of year | 2,545 | 2,433 | 2,327
Foreclosed assets | — | — | (1)
Net variation | 441 | 112 | 115
Written-off assets | (2) | — | (8)
Balance at end of year | 2,984 | 2,545 | 2,433
The gross movement in foreclosed properties were as follows (EUR billion):
| EUR Billion
| 2025 | 2024 | 2023
Gross additions | 0.1 |  | 0.1 | 0.3
Disposals | (0.7) | (0.8) | (1.2)
Difference | (0.6) |  | (0.7) |  | (0.9) |

X
- Definition The disclosure of detailed information about financial instruments. [Refer: Classes of financial instruments [domain]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Paragraph 31 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&anchor=para_31&doctype=Standard -URIDate 2025-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Paragraph 7 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&anchor=para_7&doctype=Standard -URIDate 2025-03-27 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Paragraph 35K -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&anchor=para_35K&doctype=Standard -URIDate 2025-03-27 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2027-01-01 -Name IFRS -Number 19 -IssueDate 2025-01-01 -Paragraph 43 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=19&code=ifrs-tx-2025-en-r&anchor=para_43&doctype=Standard -URIDate 2025-03-27 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2027-01-01 -Name IFRS -Number 19 -IssueDate 2025-01-01 -Paragraph 43 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=19&code=ifrs-tx-2025-en-r&anchor=para_43&doctype=Standard -URIDate 2025-03-27 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of the reconciliation of changes in the loss allowance and explanation of changes in the gross carrying amount for financial instruments. Loss allowance is the allowance for expected credit losses on financial assets measured in accordance with paragraph 4.1.2 of IFRS 9, lease receivables and contract assets, the accumulated impairment amount for financial assets measured in accordance with paragraph 4.1.2A of IFRS 9 and the provision for expected credit losses on loan commitments and financial guarantee contracts. [Refer: Gross carrying amount [member]] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2027-01-01 -Name IFRS -Number 19 -IssueDate 2025-01-01 -Paragraph 66 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=19&code=ifrs-tx-2025-en-r&anchor=para_66&doctype=Standard -URIDate 2025-03-27 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2027-01-01 -Name IFRS -Number 19 -IssueDate 2025-01-01 -Paragraph 70 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=19&code=ifrs-tx-2025-en-r&anchor=para_70&doctype=Standard -URIDate 2025-03-27 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Paragraph 35H -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&anchor=para_35H&doctype=Standard -URIDate 2025-03-27 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2025-01-01 -Paragraph 35I -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2025-en-r&anchor=para_35I&doctype=Standard -URIDate 2025-03-27 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2027-01-01 -Name IFRS -Number 19 -IssueDate 2025-01-01 -Paragraph 70 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=19&code=ifrs-tx-2025-en-r&anchor=para_70&doctype=Standard -URIDate 2025-03-27 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Note Effective 2027-01-01 -Name IFRS -Number 19 -IssueDate 2025-01-01 -Paragraph 66 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=19&code=ifrs-tx-2025-en-r&anchor=para_66&doctype=Standard -URIDate 2025-03-27 + Details
Name: | ifrs-full_DisclosureOfReconciliationOfChangesInLossAllowanceAndExplanationOfChangesInGrossCarryingAmountForFinancialInstrumentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of Debt Instruments [Abstract] + References No definition available. + Details
Name: | san_DisclosureOfDebtInstrumentsAbstract
Namespace Prefix: | san_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Debt Instruments By Issuer Rating + References No definition available. + Details
Name: | san_DisclosureOfDebtInstrumentsByIssuerRatingTableTextBlock
Namespace Prefix: | san_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of debt instruments by origin of issue. + References No definition available. + Details
Name: | san_DisclosureOfDebtInstrumentsByOriginOfIssuerTableTextBlock
Namespace Prefix: | san_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure Of Detailed Information About Debt Instruments Explanatory + References No definition available. + Details
Name: | san_DisclosureOfDetailedInformationAboutDebtInstrumentsExplanatoryTableTextBlock
Namespace Prefix: | san_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration