Financial liabilities (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Disclosure of financial liabilities [abstract] |
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| Schedule of components of financial liabilities other than hedging derivatives |
The following is a breakdown of Grupo Santander's financial liabilities, other than the balances corresponding to the Derivatives - hedge accounting heading, as of 30 June 2025 and 31 December 2024, presented by nature and categories for valuation purposes: | | | | | | | | | | | | | | | | | | | | | | EUR million | | 30-06-2025 | 31-12-2024 | | Financial
liabilities
held for
trading | Financial
liabilities
designated at
fair value through
profit or loss | Financial
liabilities at
amortised cost | Financial
liabilities
held for
trading | Financial
liabilities
designated at
fair value through
profit or loss | Financial
liabilities at
amortised cost | | Derivatives | 50,396 | | | | 57,753 | | | | | Short Positions | 34,473 | | | | 35,830 | | | | | Deposits | 70,813 | | 25,842 | | 1,054,043 | | 58,568 | | 28,806 | | 1,126,439 | | | Central banks | 10,096 | | 1,594 | | 20,482 | | 13,300 | | 1,774 | | 24,882 | | | Credit institutions | 20,720 | | 1,749 | | 87,828 | | 26,284 | | 1,625 | | 90,012 | | | Customer | 39,997 | | 22,499 | | 945,733 | | 18,984 | | 25,407 | | 1,011,545 | | | Debt instruments | — | | 9,671 | | 302,292 | | — | | 7,554 | | 317,967 | | | Other financial liabilities | — | | — | | 44,297 | | — | | — | | 39,916 | | Total | 155,682 | | 35,513 | | 1,400,632 | | 152,151 | | 36,360 | | 1,484,322 | |
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| Disclosure of composition and reconciliation of debt instruments |
The detail of the balance of debt instruments issued according to their nature is: | | | | | | | | | | EUR million | | 30-06-2025 | 31-12-2024 | | Bonds and debentures outstanding | 244,891 | | 252,765 | | | Subordinated | 30,951 | | 35,461 | | | Promissory notes and other securities | 36,121 | | 37,295 | | | Total debt instruments issued | 311,963 | | 325,521 | |
The detail, at 30 June 2025 and 2024, of the outstanding balance of the debt instruments, excluding promissory notes, which at these dates had been issued by Banco Santander or any other Group entity is disclosed below. Also included is the detail of the changes in this balance in the first six months of 2025 and 2024:
| | | | | | | | | | | | | | | | | | | | | | EUR million | | 30-06-2025 | | Opening balance as at 01-01-2025 | Perimeter | Issuances or placements | Repurchases or
redemptions | Exchange
rate and other
adjustments | Closing balance as at 06-30-25 | | Bonds and debentures outstanding | 252,765 | | — | | 37,180 | | (32,874) | | (12,180) | | 244,891 | | | Subordinated | 35,461 | | — | | 278 | | (3,147) | | (1,641) | | 30,951 | | | Bonds and debentures outstanding and subordinated liabilities issued | 288,226 | | — | | 37,458 | | (36,021) | | (13,821) | | 275,842 | |
| | | | | | | | | | | | | | | | | | | | | | EUR million | | 30-06-2024 | | Opening balance as at 01-01-2024 | Perimeter | Issuances or placements | Repurchases or
redemptions | Exchange
rate and other
adjustments | Closing balance as at 06-30-24 | | Bonds and debentures outstanding | 231,880 | | (1,224) | | 41,185 | | (32,172) | | 27 | | 239,696 | | | Subordinated | 30,529 | | — | | 3,908 | | (2,422) | | 96 | | 32,111 | | | Bonds and debentures outstanding and subordinated liabilities issued | 262,409 | | (1,224) | | 45,093 | | (34,594) | | 123 | | 271,807 | |
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| Schedule of financial liabilities measured at other than fair value |
Following is a comparison between the value by which Grupo Santander’s financial liabilities are recorded that are measured using criteria other than fair value and their corresponding fair value at 30 June 2025 and 31 December 2024: | | | | | | | | | | | | | | | | EUR million | | 30-06-2025 | 31-12-2024 | | Carrying amount | Fair value | Carrying amount | Fair value | | Deposits | 1,054,043 | | 1,054,610 | | 1,126,439 | | 1,125,532 | | | Debt instruments | 302,292 | | 303,170 | | 317,967 | | 317,912 | | | Liabilities | 1,356,335 | | 1,357,780 | | 1,444,406 | | 1,443,444 | |
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