v3.25.2
Financial assets (Tables)
 6 Months Ended
Jun. 30, 2025
Disclosure of financial assets [abstract]  
Schedule of components of financial assets
The detail, by nature and category for measurement purposes, of Grupo Santander's financial assets, other than the balances relating to Cash, cash balances at central banks and other deposits on demand and Hedging derivatives, at 30 June 2025 and 31 December 2024 is as follows, presented by the nature and categories for valuation purposes:
EUR million
30-06-2025
Financial
assets held
for trading		Non-trading
financial
 assets
 mandatorily
 at fair value
 through
profit or loss		Financial
 assets
 designated
 at fair value
 through
profit or loss		Financial
 assets at fair
 value through
 other
 comprehensive
income		Financial
 assets at
 amortised
cost
Derivatives58,288 
Equity instruments16,278 4,674 2,300 
Debt instruments85,290 284 2,850 60,929 119,661 
Loans and advances74,978 766 5,941 12,572 1,029,296 
Central Banks16,685 — — — 16,806 
Credit institutions22,578 — 1,110 304 55,343 
Customers35,715 766 4,831 12,268 957,147 
Total234,834 5,724 8,791 75,801 1,148,957 

EUR million
31-12-2024
Financial
assets held
for trading		Non-trading
financial
 assets
 mandatorily
 at fair value
 through
profit or loss		Financial
 assets
 designated
 at fair value
 through
profit or loss		Financial
 assets at fair
 value through
 other
 comprehensive
income		Financial
 assets at
 amortised
cost
Derivatives64,100 
Equity instruments16,636 4,641 2,193 
Debt instruments82,646 447 2,897 76,558 120,949 
Loans and advances66,871 1,042 5,018 11,147 1,082,758 
Central Banks12,966 — — — 16,179 
Credit institutions27,314 — 408 363 55,537 
Customers26,591 1,042 4,610 10,784 1,011,042 
Total
230,253 6,130 7,915 89,898 1,203,707 
Disclosure of gross exposure by stages of impairment
Following is the gross exposure of financial assets subject to impairment stages at 30 June 2025 and 31 December 2024:
EUR million
30-06-202531-12-2024
Gross amountGross amount
Stage 1Stage 2Stage 3TotalStage 1Stage 2Stage 3Total
Financial assets at fair value through other comprehensive income73,048 399 181 73,628 87,135 469 253 87,857 
Debt instruments60,924 11 — 60,935 76,521 41 6 76,568 
Loans and advances12,124 388 181 12,693 10,614 428 247 11,289 
   Credit institutions304 — — 304 363 — — 363 
   Customers11,820 388 181 12,389 10,251 428 247 10,926 
Financial assets at amortised cost1,061,470 77,259 30,932 1,169,661 1,106,876 84,583 34,016 1,225,475 
Debt instruments118,138 1,116 757 120,011 119,993 556 695 121,244 
Loans and advances943,332 76,143 30,175 1,049,650 986,883 84,027 33,321 1,104,231 
   Central Banks16,806 — — 16,806 16,179 — — 16,179 
   Credit institutions55,319 11 20 55,350 55,542 — — 55,542 
   Customers871,207 76,132 30,155 977,494 915,162 84,027 33,321 1,032,510 
Total1,134,518 77,658 31,113 1,243,289 1,194,011 85,052 34,269 1,313,332 
30-06-2025
Gross amount in books on the amount of the last appraisal (loan to value)
Million eurosLess than or equal to 40%More than 40% or less than 60%More than 60% and less than 80%More than 80% and less or equal to 100%More than 100%Total
Gross amount17,180 20,202 18,391 3,103 850 59,726 
Of which: impaired133 185 169 107 129 723 
31-12-2024
Gross amount in books on the amount of the last appraisal (loan to value)
Million eurosLess than or equal to 40%More than 40% or less than 60%More than 60% and less than 80%More than 80% and less or equal to 100%More than 100%Total
Gross amount17,205 20,085 17,955 2,925 938 59,108 
Of which: impaired114 167 189 130 178 778 
At the end 30 June 2025 and 31 December 2024 the concentration of this portfolio was as follows:
Loans: gross amount
Million euros30-06-202531-12-2024
1. Without mortgage collateral
17 13 
2. With mortgage collateral
2,704 2,532 
2.1 Completed buildings983 934 
2.1.1 Residential716 634 
2.1.2 Other267 300 
2.2 Buildings and other constructions under construction1,706 1,580 
2.2.1 Residential1,690 1,534 
2.2.2 Other16 46 
2.3 Land15 18 
2.3.1 Developed consolidated land13 13 
2.3.2 Other land2 5 
Total2,7212,545
Disclosure of reconciliation of changes in loss allowance and in gross carrying amount for financial instruments
The following is the movement that has taken place, during the six-month periods ended 30 June 2025 and 2024, in the balance of provisions that cover losses due to impairment of assets which comprise the heading balance of the financial assets at amortised cost:
EUR million
30-06-202530-06-2024
Balance as at beginning of period22,326 22,950 
Impairment losses charged to income for the period7,314 7,005 
Of which:
Impairment losses charged to income14,514 12,720 
Impairment losses reversed with a credit to income(7,200)(5,715)
Write-off of impaired balances against recorded impairment allowance(6,780)(6,439)
Exchange differences and other(1,774)(701)
Balance as at end of period21,086 22,815 
Of which, relating to:
Impaired assets13,607 14,429 
Other assets7,479 8,386 
Of which:
Individually calculated2,628 2,964 
Collectively calculated18,458 19,851 
Following is the movement of the loan loss provision broken down by impairment stage of loans and advances to customers recognised under 'Financial assets at amortised cost' as at 30 June 2025 and 30 June 2024:
EUR million
30-06-2025
Stage 1Stage 2Stage 3Total
Impairment allowance as at beginning of period3,281 4,735 13,967 21,983 
Transfers between stages(769)596 3,925 3,752 
Net changes of the exposure and modifications in the credit risk663 (469)3,313 3,507 
Write-offs— — (6,717)(6,717)
Exchange differences and other(217)(411)(1,208)(1,836)
Carrying amount at end of period2,958 4,451 13,280 20,689 
EUR million
30-06-2024
Stage 1Stage 2Stage 3Total
Impairment allowance as at beginning of period3,587 4,930 14,149 22,666 
Transfers between stages(627)609 3,941 3,923 
Variation due to credit risk530 (423)2,962 3,069 
Write-offs— — (6,439)(6,439)
Exchange differences and other(186)(78)(509)(773)
Carrying amount at end of period3,304 5,038 14,104 22,446 
The movement during the six-month periods ended 30 June 2025 and 2024, in the balance of financial assets classified at amortised cost and considered impaired by reason for the credit risk is as follows:
EUR million
30-06-202530-06-2024
Balance as at beginning of period34,206 34,363 
Net additions6,119 6,747 
Written-off assets(6,780)(6,439)
Perimeter Changes— 13 
Exchange differences and other(2,549)(647)
Balance at end of period30,996 34,037 
Schedule of collaterals received for financial assets
Following is the breakdown of the value of the collaterals received to ensure the collection of the financial assets that comprise the heading of financial assets at amortized cost, distinguishing between real collaterals and other collaterals at 30 June 2025 and 31 December 2024:
EUR million
30-06-202531-12-2024
Real collaterals value587,733 632,814 
Of which: Impaired 10,847 12,768 
Other collaterals value96,094 94,543 
Of which: Impaired 1,909 1,390 
Total value of the collaterals received683,827 727,357 
Schedule of financial assets measured at other than fair value
Following is a comparison of the carrying amounts of Grupo Santander’s financial assets measured at other than fair value and their respective fair values at 30 June 2025 and 31 December 2024:
EUR million
30-06-202531-12-2024
Carrying
amount		Fair 
value		Carrying
amount		Fair 
value
Loans and advances1,029,296 1,029,388 1,082,758 1,073,530 
Debt instruments119,661 119,530 120,949 119,539 
ASSETS1,148,957 1,148,918 1,203,707 1,193,069