v3.26.1
Interest expense
 12 Months Ended
Dec. 31, 2025
Analysis of income and expense [abstract]  
Interest expense Interest expense
Interest expense and similar charges in the consolidated income statement includes the interest accruing in the year on all financial liabilities with an implicit or explicit return, including remuneration in kind, calculated by applying the effective interest method, irrespective of measurement at fair value; the rectifications of cost as a result of hedge accounting; and the interest cost attributable to provisions recorded for pensions.
The detail of the main items of interest expense and similar charges accrued in 2025, 2024 and 2023 is as follows:
EUR million
202520242023
Customer deposits31,735 35,714 32,457 
Debt securities issued and subordinated liabilities15,066 14,612 12,671 
Marketable debt securities13,580 13,255 11,661 
Subordinated liabilities (note 23)1,486 1,357 1,010 
Central banks and credit institution deposits
8,151 9,381 9,360 
Lease Liabilities107 122 127 
Provisions for pensions (note 25)91 105 93 
Other interest expense4,212 5,291 6,384 
59,362 65,225 61,092 
Most of the interest expense and similar charges was generated by the Group’s financial liabilities that are measured at amortised cost.