v3.26.1
Intangible assets - Goodwill (Tables)
 12 Months Ended
Dec. 31, 2025
Intangible assets and goodwill [abstract]  
Disclosure of detailed information about goodwill
The detail of goodwill, based on the cash-generating units giving rise thereto, is as follows:
EUR million
202520242023
Banco Santander (Brasil) 3,031 3,079 3,679 
SAM Investment Holdings Limited1,444 1,444 1,444 
Santander Consumer Germany1,304 1,304 1,304 
Santander Portugal1,040 1,040 1,040 
Santander España998 998 998 
Santander US Auto943 1,068 1,003 
Santander Holding USA (ex. Auto)765 865 814 
Santander UK609 641 612 
Banco Santander - Chile470 482 516 
Grupo Financiero Santander (México)463 453 523 
Ebury Partners326 340 350 
Santander Consumer Nordics211 211 206 
Santander Bank Polska— 1,178 1,159 
Other companies354 335 369 
Total Goodwill11,958 13,438 14,017 
Schedule of goodwill and changes in goodwill
The changes in goodwill were as follows:
EUR million
202520242023
Balance at beginning of year13,438 14,017 13,741 
Additions
19 30 56 
Of which:
Ebury Partners— — 45 
Impairment losses(4)(4)(20)
Transfer to Assets held for sale (Notes 3 y 12)(1,176)— — 
Exchange differences and other items(291)(605)240 
Balance at end of year11,958 13,438 14,017 
Schedule of goodwill assumptions
Following is a detail of the main assumptions taken into account in determining the recoverable amount, at 2025 year-end, of the most significant cash-generating units which were valued using the discounted cash flow method:
2025
Projected period
Discount rateA
Nominal
perpetual
growth rate
Santander UK5 years12.4%2.5%
Santander US Auto3 years11.5%3.0%
Santander Holding USA (ex. Auto)B
5 years13.6%3.5%
Santander Consumer Germany5 years9.5%2.5%
SAM Investment Holdings, Limited5 years11.5%2.5%
Santander Portugal5 years10.6%2.5%
A.Post-tax discount rate.
B.Weighted information of the main assumptions of the segments to which goodwill has been allocated.
The discount and nominal perpetual growth rates taken into account in 2024 and 2023 are presented below for comparison purposes:
Discount rateA
Nominal
perpetual
growth rate
2024202320242023
Santander UK11.8%11.9%2.5%2.5%
Santander Bank Polska12.9%13.2%5.0%5.0%
Santander US Auto12.2%12.8%3.0%3.0%
Santander Holding USA (ex. Auto)B
13.4%13.4%3.5%3.5%
Santander Consumer Germany9.1%9.7%2.0%2.3%
SAM Investment Holdings, Limited11.6%11.6%2.5%2.5%
Santander Portugal10.2%11.2%2.5%2.5%
A.Post-tax discount rate.
B.Weighted information of the main assumptions of the segments to which goodwill has been allocated.