v3.26.1
Non-controlling interests
 12 Months Ended
Dec. 31, 2025
Non-Controlling Interests [Abstract]  
Non-controlling interests Non-controlling interests
Non-controlling interests include the net amount of the equity of subsidiaries attributable to equity instruments that do not belong, directly or indirectly, to the Bank, including the portion attributed to them of profit for the year.
a) Breakdown
The detail, by Group company, of 'Equity - Non-controlling interests' is as follows:
EUR million
 202520242023
Santander Bank Polska S.A.2,670 2,320 1,934 
Grupo PSA1,815 1,725 1,590 
Banco Santander - Chile1,422 1,364 1,379 
Banco Santander (Brasil) S.A.1,397 1,257 1,493 
Other companiesA
875 890 1,315 
8,179 7,556 7,711 
Profit/(Loss) for the year attributable to non-controlling interests1,399 1,170 1,107 
Of which:
Grupo PSA230 217 285 
Banco Santander - Chile313 271 235 
Banco Santander (Brasil) S.A.184 233 182 
Santander Bank Polska S.A.604 413 347 
Other companies68 36 58 
TOTAL9,578 8,726 8,818 
A.It included, as of 31 December 2023, perpetual Santander UK plc equity instruments convertible at the option of Santander UK plc into preferred shares of the entity itself amounting EUR 576 million. During 2024, the last outstanding issuance held by third parties for GBP 500 million (EUR 590 million) was redeemed.
b) Changes
The changes in Non-controlling interests are summarised as follows:
EUR million
202520242023
Balance at beginning of year8,726 8,818 8,481 
Other comprehensive income73 (461)297 
Other779 369 40 
Profit attributable to non-controlling interests1,399 1,170 1,107 
Modification of participation ratesA
339 395 (258)
Change of perimeter(5)(8)(364)
Dividends paid to minority shareholders(896)(660)(748)
Changes in capital and other conceptsB
(58)(528)303 
Balance at end of year9,578 8,726 8,818 
A.Include the effects of the accelerated placements of 3.5% and 5.2% of the share capital of Santander Bank Polska S.A. in 2025 and 2024, respectively, and the public offer for the acquisition of shares of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México that occurred in 2023 (see note 3.b).
B.Includes the effects of the amortization of AT1 UK by EUR 590 million at closing of fiscal year 2024.
The foregoing changes are shown in the consolidated statement of changes in total equity.
c) Other information
The financial information on the subsidiaries with significant non-controlling interests at 31 December 2025 is summarised below:
EUR millionA
Santander Bank Polska S.A.Banco Santander (Brasil) S.A.Banco Santander - ChileGrupo PSA
Total assets78,186 209,453 68,205 47,826 
Total liabilities70,380 193,380 62,604 43,717 
Net assets7,806 16,073 5,601 4,109 
Total income3,724 12,602 2,714 1,305 
Total profit1,528 2,388 1,043 460