Banco Santander S.A. — Investor Presentation 2021

Apr 9, 2021

Banco Santander, S.A., in compliance with the Securities Market legislation, hereby communicates the following:

OTHER RELEVANT INFORMATION

Starting with the financial information for the first quarter of 2021, a change in the Group's reportable segments is to be carried out to reflect the Bank's new organizational structure, in line with the three strategic initiatives outlined in the 2020 Annual Report: One Santander, Digital Consumer Bank and PagoNxt.

These changes align the segment information with their management and have no impact on the Group's accounting figures.

Attached is a presentation which contains the quarterly pro forma financial figures for 2020 to allow a comparison between 2020 and 2021, including the aforementioned changes.

The main changes in Group's segments are:

• Primary segments:
  • Creation of the new Digital Consumer Bank (DCB) segment, which includes Santander Consumer Finance (SCF), previously included in the Europe segment and Openbank, formerly included in Santander Global Platform. The consumer finance business in the United Kingdom previously reported in the country will be reported in this new segment.
  • Elimination of the Santander Global Platform reporting segment: Openbank is now included within DCB, and Merchant Solutions, Trade Solutions and Consumer Solutions (Superdigital and Pago Next) will be assigned accordingly to each of the three main geographic regions.
• Secondary segments:
  • Creation of the PagoNxt segment, which includes the Merchant Solutions, Trade Solutions and Consumer Solutions, previously recorded in Santander Global Platform.
  • Elimination of the Santander Global Platform reporting segment, now included under PagoNxt and Retail Banking (mainly Openbank).
  • An adjustment of the perimeter of the Global Customer Relationship Model between Retail Banking and Santander Corporate & Investment Banking and between Retail Banking and Wealth Management & Insurance.

For more information please see the attached presentation.

Boadilla del Monte (Madrid), 9 April 2021

April 2021

2020 income statements and balance sheets according to the new reporting structure

All. Together. Now.

Important information

Non-IFRS and alternative performance measures

This presentation contains, in addition to the financial information prepared in accordance with International Financial Reporting Standards ("IFRS") and derived from our financial statements, alternative performance measures ("APMs") as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures ("Non-IFRS Measures"). These financial measures that qualify as APMs and non-IFRS measures have been calculated with information from Santander Group; however those financial measures are not defined or detailed in the applicable financial reporting framework nor have been audited or reviewed by our auditors. We use these APMs and non-IFRS measures when planning, monitoring and evaluating our performance. We consider these APMs and non-IFRS measures to be useful metrics for our management and investors to compare operating performance between accounting periods, as these measures exclude items outside the ordinary course performance of our business, which are grouped in the non-IFRS line management adjustments line and are further detailed at the end of Section 3.2 of the Economic and Financial Review in our Directors' Report included in our Annual Report on Form 20-F for the year ended 31 December 2020. Nonetheless, these APMs and non-IFRS measures should be considered supplemental information to, and are not meant to substitute IFRS measures. Furthermore, companies in our industry and others may calculate or use APMs and non-IFRS measures differently, thus making them less useful for comparison purposes. For further details on APMs and Non-IFRS Measures, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the 2020 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on 26 February 2021. This document is available on Santander's website (www.santander.com). Underlying measures, which are included in this presentation, are non-IFRS measures.

The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the included businesses and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments may differ materially from those of such subsidiaries.

Forward-looking statements

Banco Santander, S.A. ("Santander") advises that this presentation contains "forward-looking statements" as per the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words like "expect", "project", "anticipate", "should", "intend", "probability", "risk", "VaR", "RoRAC", "RoRWA", "TNAV", "target", "goal", "objective", "estimate", "future" and similar expressions. Found throughout this presentation, they include (but are not limited to) statements on our future business development, economic performance and shareholder remuneration policy. However, a number of risks, uncertainties and other important factors may cause actual developments and results to differ materially from our expectations. The following important factors, in addition to others discussed elsewhere in this presentation, could affect our future results and could cause materially different outcomes from those anticipated in forward-looking statements: (1) general economic or industry conditions of areas where we have significant operations or investments (such as a worse economic environment; higher volatility in the capital markets; inflation or deflation; changes in demographics, consumer spending, investment or saving habits; and the effects of the COVID-19 pandemic in the global economy); (2) exposure to various market risks (particularly interest rate risk, foreign exchange rate risk, equity price risk and risks associated with the replacement of benchmark indices); (3) potential losses from early repayments on our loan and investment portfolio, declines in value of collateral securing our loan portfolio, and counterparty risk; (4) political stability in Spain, the United Kingdom, other European countries, Latin America and the US (5) changes in legislation, regulations, taxes, including regulatory capital and liquidity requirements, especially in view of the UK exit of the European Union and increased regulation in response to financial crisis; (6) our ability to integrate successfully our acquisitions and related challenges that result from the inherent diversion of management's focus and resources from other strategic opportunities and operational matters; and (7) changes in our access to liquidity and funding on acceptable terms, in particular if resulting from credit spreads shifts or downgrade in credit ratings for the entire group or significant subsidiaries.

Important information

Numerous factors could affect our future results and could cause those results deviating from those anticipated in the forward-looking statements. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements.

Forward-looking statements speak only as of the date of this presentation and are informed by the knowledge, information and views available on such date. Santander is not required to update or revise any forward-looking statements, regardless of new information, future events or otherwise.

No offer

The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by Santander. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation. No investment activity should be undertaken on the basis of the information contained in this presentation. In making this presentation available Santander gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in Santander or in any other securities or investments whatsoever.

Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000.

Historical performance is not indicative of future results

Statements about historical performance or accretion must not be construed to indicate that future performance, share price or future (including earnings per share) in any future period will necessarily match or exceed those of any prior period. Nothing in this presentation should be taken as a profit forecast.

Adapting our reporting to the new organizational structure towards the Santander of Tomorrow –3 priorities for profitable growth

These changes do not entail any alteration in Group figures

New organizational structure

Primary segments main changes

(1) SCIB and WM rest of Europe. In addition in 2021, Global Payments Services in the region included

Secondary segments main changes

	"Until 2020"	"From 2021 on"
RETAIL BANKING1	Retail Banking	Retail Banking Openbank
SCIB1	Corporate and Investment Banking	Corporate and Investment Banking
WM&I1	Private Asset Insurance Banking Management	Private Asset Insurance Banking Management
SGP	Global Payments Services Openbank (GMS, GTS, Superdigital, Pago FX)
Global Divisions expenses Cost allocation to countries / Transfer SAN Digital Division expenses		Merchant Consumer Trade Solutions Solutions Solutions

7

Main differences in underlying profits. Income statement of the Group does not change

2020 restated. Markets
EUR mn Europe	2020 published	Difference 2020 restated / 2020 published
	517	517	0
	391	530	-139
	338	338	0
	162	162	0
Other	5	24	-20
	North America
	731	731	0
	762	762	0
-20		0	-20
	South America
	2,113	2 113 ,	0
	432	432	0
	179	179	0
Other	183	203	-20

Key metrics medium-term goals compared to 2020 restated

metrics Key	Europe		North	America	South	America	One	Santander	Digital Consumer Bank
	2020	Medium-term goals	2020	Medium-term goals	2020	Medium-term goals	2020	Medium-term goals	2020	Medium-term goals
Efficiency ratio	56%	45% c.	42%	40% c.	36%	35% c.	45%	40% c.	42%	39% c.
Underlying RoTE	3 6%	10-12%	5%1 10	11-13%1	17 7%	19-21%			11 5%	15% c.
position NPS							3 in 6 Top countries	3 in 9 Top countries
sales/total Digital							44%	>50%

■ Primary segments

EUROPE

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	2,378	2,330	2,534	2,670	3,435	3,352	3,549	3,710	(1,057)	(1,022)	(1,015)	(1,041)
Net fee income	1,128	942	961	968	1,315	1,098	1,162	1,162	(186)	(156)	(201)	(194)
Gains (losses) on financial transactions *	155	213	330	171	142	216	338	188	12	(3)	(8)	(17)
Other operating income	57	(87)	58	(134)	83	(89)	106	(74)	(25)	2	(48)	(61)
Total income	3,718	3,398	3,883	3,675	4,974	4,577	5,155	4,987	(1,256)	(1,179)	(1,273)	(1,312)
Administrative expenses and amortisations	(2,175)	(2,038)	(2,046)	(2,015)	(2,712)	(2,526)	(2,542)	(2,534)	536	488	496	519
Net operating income	1,543	1,359	1,837	1,659	2,263	2,051	2,613	2,453	(720)	(692)	(777)	(793)
Net loan-loss provisions	(1,004)	(677)	(735)	(927)	(1,335)	(877)	(956)	(1,131)	330	200	221	204
Other gains (losses) and provisions	(236)	(186)	(177)	(371)	(195)	(160)	(196)	(362)	(41)	(25)	19	(9)
Profit before tax	303	496	925	361	733	1,014	1,461	959	(430)	(517)	(536)	(598)
Tax on profit	(100)	(136)	(265)	(93)	(217)	(275)	(406)	(234)	117	139	141	141
Profit from continuing operations	202	360	660	268	515	739	1,055	725	(313)	(379)	(395)	(457)
Net profit from discontinued operations	—	—	(0)	0	—	—	—	—	—	—	—	—
Consolidated profit	202	360	660	268	515	739	1,055	725	(313)	(379)	(395)	(457)
Non-controlling interests	(10)	(24)	(32)	(12)	(73)	(107)	(108)	(91)	63	83	76	79
Underlying attributable profit to the parent	193	336	628	256	443	632	947	634	(250)	(296)	(319)	(378)

	NEW						PREVIOUS		DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20			Mar-20 Jun-20 Sep-20 Dic-20					Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				568,914 574,076 563,557 563,582				680,303 684,446 673,172 675,895	(111,388)	(110,370)	(109,615)	(112,313)
Cash, central banks and credit institutions				177,430 248,198 216,860 213,561				189,610 258,158 227,581 224,793	(12,181)	(9,961)	(10,721)	(11,232)
Debt instruments				79,413 86,477 83,049 81,271				82,119 91,038 88,604 86,925	(2,707)	(4,561)	(5,555)	(5,654)
Other financial assets				60,812 54,208 53,054 48,313				60,788 54,171 53,016 48,266	24	37	38	47
Other asset accounts				42,793 40,318 39,401 35,893				47,697 45,211 45,423 41,658	(4,904)	(4,893)	(6,022)	(5,765)
Total assets				929,361 1,003,278 955,921 942,620				1,060,517 1,133,025 1,087,796 1,077,537	(131,156)	(129,747)	(131,875)	(134,917)
Customer deposits				541,719 570,736 573,108 582,353				580,842 610,021 612,844 622,826	(39,123)	(39,285)	(39,736)	(40,473)
Central banks and credit institutions				160,984 213,794 176,782 167,014				197,886 251,351 215,775 208,408	(36,902)	(37,557)	(38,993)	(41,394)
Marketable debt securities				97,370 92,312 90,102 84,201				136,012 128,570 126,016 120,166	(38,642)	(36,259)	(35,914)	(35,965)
Other financial liabilities				70,927 69,972 60,240 54,634				72,115 71,538 61,808 55,919	(1,188)	(1,566)	(1,568)	(1,285)
Other liabilities accounts	14,310	13,284	12,007	11,788	17,881	17,002	16,011	15,635	(3,571)	(3,718)	(4,003)	(3,847)
Total liabilities				885,311 960,098 912,240 899,990				1,004,736 1,078,482 1,032,454 1,022,954	(119,425)	(118,384)	(120,214)	(122,964)
Total equity				44,050 43,180 43,681 42,630				55,781 54,543 55,342 54,583	(11,730)	(11,363)	(11,661)	(11,953)
Memorandum items:
Gross loans and advances to customers **				538,459 542,816 535,463 543,336				652,651 656,001 647,911 658,471	(114,192)	(113,185)	(112,448)	(115,135)
Customer funds				604,983 633,055 641,963 655,954				644,106 672,341 681,699 696,427	(39,123)	(39,285)	(39,736)	(40,473)
Customer deposits ***				528,209 549,600 554,629 562,977				567,332 588,886 594,364 603,450	(39,123)	(39,285)	(39,736)	(40,473)
Mutual funds				76,774 83,455 87,335 92,977				76,774 83,455 87,335 92,977	—	—	—	—
(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Spain

EUR million

			NEW			PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	925	931	1,034	1,067	925	931	1,034	1,067	—	—	—	—
Net fee income	643	535	562	573	643	535	562	573	—	—	—	—
Gains (losses) on financial transactions *	156	250	194	180	156	250	194	180	—	—	—	—
Other operating income	64	(154)	10	(188)	64	(154)	10	(188)	—	—	—	—
Total income	1,789	1,562	1,800	1,632	1,789	1,562	1,800	1,632	—	—	—	—
Administrative expenses and amortisations	(944)	(896)	(893)	(873)	(944)	(896)	(893)	(873)	—	—	—	—
Net operating income	844	665	907	759	844	665	907	759	—	—	—	—
Net loan-loss provisions	(628)	(313)	(449)	(611)	(628)	(313)	(449)	(611)	—	—	—	—
Other gains (losses) and provisions	(104)	(115)	(112)	(128)	(104)	(115)	(112)	(128)	—	—	—	—
Profit before tax	112	237	346	20	112	237	346	20	—	—	—	—
Tax on profit	(22)	(77)	(100)	1	(22)	(77)	(100)	1	—	—	—	—
Profit from continuing operations	90	160	246	20	90	160	246	20	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	90	160	246	20	90	160	246	20	—	—	—	—
Non-controlling interests	(0)	0	0	(0)	(0)	0	0	(0)	—	—	—	—
Underlying attributable profit to the parent	90	161	246	20	90	161	246	20	—	—	—	—

	NEW				PREVIOUS			DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				185,921 197,424 192,894 194,239			185,921 197,424 192,894 194,239		—	—	—	—
Cash, central banks and credit institutions				78,519 108,381 112,338 113,518			78,519 108,381 112,338 113,518		—	—	—	—
Debt instruments				24,458 25,100 21,766 21,654			24,458 25,100 21,766 21,654		—	—	—	—
Other financial assets	1,407	1,661	2,571	2,671	1,407	1,661	2,571	2,671	—	—	—	—
Other asset accounts				25,209 23,203 22,727 22,438			25,209 23,203 22,727 22,438		—	—	—	—
Total assets				315,515 355,769 352,296 354,521				315,515 355,769 352,296 354,521	—	—	—	—
Customer deposits				234,716 248,053 250,369 251,375			234,716 248,053 250,369 251,375		—	—	—	—
Central banks and credit institutions				20,341 46,942 47,536 48,305			20,341 46,942 47,536 48,305		—	—	—	—
Marketable debt securities				29,503 27,377 26,141 26,068			29,503 27,377 26,141 26,068		—	—	—	—
Other financial liabilities	8,968	12,370	7,858	9,344	8,968	12,370	7,858	9,344	—	—	—	—
Other liabilities accounts	6,231	5,159	4,012	4,112	6,231	5,159	4,012	4,112	—	—	—	—
Total liabilities				299,759 339,901 335,916 339,203				299,759 339,901 335,916 339,203	—	—	—	—
Total equity				15,756 15,868 16,380 15,318				15,756 15,868 16,380 15,318	—	—	—	—
Memorandum items:
Gross loans and advances to customers **				192,490 203,811 198,951 200,735			192,490 203,811 198,951 200,735		—	—	—	—
Customer funds				293,889 311,824 316,597 320,879			293,889 311,824 316,597 320,879		—	—	—	—
Customer deposits ***				234,716 248,053 250,369 251,375			234,716 248,053 250,369 251,375		—	—	—	—
Mutual funds				59,173 63,770 66,228 69,503			59,173 63,770 66,228 69,503		—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

United Kingdom

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	820	796	905	983	898	871	976	1,063	(78)	(75)	(71)	(80)
Net fee income	190	94	115	96	193	96	117	99	(4)	(2)	(3)	(3)
Gains (losses) on financial transactions *	(4)	2	15	(32)	(7)	(0)	16	(35)	3	2	(1)	3
Other operating income	1	(1)	(0)	1	13	12	8	19	(12)	(13)	(8)	(17)
Total income	1,007	891	1,034	1,048	1,098	979	1,117	1,146	(91)	(88)	(82)	(97)
Administrative expenses and amortisations	(686)	(631)	(620)	(601)	(714)	(656)	(646)	(626)	28	25	25	25
Net operating income	321	259	414	447	384	323	471	519	(63)	(63)	(57)	(72)
Net loan-loss provisions	(178)	(223)	(179)	(97)	(191)	(239)	(189)	(114)	13	16	10	18
Other gains (losses) and provisions	(71)	(5)	(30)	(150)	(74)	(4)	(36)	(151)	3	(1)	7	1
Profit before tax	72	31	205	200	119	80	246	253	(46)	(48)	(41)	(53)
Tax on profit	(20)	(13)	(55)	(29)	(28)	(18)	(61)	(38)	8	6	6	9
Profit from continuing operations	52	19	149	171	91	61	184	215	(38)	(43)	(35)	(44)
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	52	19	149	171	91	61	184	215	(38)	(43)	(35)	(44)
Non-controlling interests	(0)	(0)	(0)	0	(6)	(7)	(5)	(3)	6	7	5	3
Underlying attributable profit to the parent	52	19	149	171	84	54	179	212	(32)	(36)	(30)	(41)

	NEW				PREVIOUS			DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20			Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				256,273 249,034 248,394 249,777				267,825 260,157 259,417 261,062	(11,552)	(11,123)	(11,023)	(11,285)
Cash, central banks and credit institutions				37,393 47,865 46,589 54,444				37,568 48,060 46,845 54,576	(175)	(195)	(256)	(132)
Debt instruments	16,943	17,001	13,902	11,527	16,943	17,001	13,902	11,527	—	—	—	—
Other financial assets	1,098	1,470	1,772	712	1,103	1,475	1,776	712	(5)	(5)	(4)	—
Other asset accounts	11,301	9,560	9,135	8,177	12,276	10,543	10,106	9,173	(975)	(983)	(971)	(997)
Total assets				323,008 324,930 319,793 324,637				335,715 337,235 332,046 337,050	(12,707)	(12,305)	(12,254)	(12,413)
Customer deposits				215,044 224,233 224,356 231,921				216,059 225,223 225,347 232,923	(1,015)	(989)	(991)	(1,002)
Central banks and credit institutions		21,406 20,682		17,154 20,587				30,185 29,157 25,606 29,302	(8,779)	(8,475)	(8,452)	(8,715)
Marketable debt securities				62,356 58,360 56,707 51,151				64,066 59,928 58,188 52,562	(1,711)	(1,568)	(1,481)	(1,411)
Other financial liabilities	2,981	2,857	2,951	2,316	3,112	3,032	3,123	2,448	(132)	(175)	(172)	(133)
Other liabilities accounts	4,958	4,493	4,369	4,508	5,071	4,616	4,540	4,624	(113)	(123)	(171)	(116)
Total liabilities				306,745 310,626 305,536 310,483				318,494 321,956 316,803 321,860	(11,749)	(11,330)	(11,267)	(11,377)
Total equity				16,263 14,304 14,257 14,154				17,220 15,279 15,243 15,189	(958)	(975)	(986)	(1,036)
Memorandum items:
Gross loans and advances to customers **				231,940 226,321 227,002 230,674				243,599 237,561 238,148 242,090	(11,658)	(11,239)	(11,146)	(11,416)
Customer funds				209,254 212,157 215,405 222,268				210,269 213,146 216,396 223,270	(1,015)	(989)	(991)	(1,002)
Customer deposits ***				202,408 204,761 207,987 214,329				203,423 205,750 208,978 215,332	(1,015)	(989)	(991)	(1,002)
Mutual funds	6,846	7,396	7,418	7,938	6,846	7,396	7,418	7,938	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Portugal

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	202	197	193	195	202	197	193	195	—	—	—	—
Net fee income	101	90	94	103	101	90	94	103	—	—	—	—
Gains (losses) on financial transactions *	56	35	15	6	56	35	15	6	—	—	—	—
Other operating income	(9)	(5)	10	13	(9)	(5)	10	13	—	—	—	—
Total income	350	317	312	317	350	317	312	317	—	—	—	—
Administrative expenses and amortisations	(151)	(145)	(146)	(149)	(151)	(145)	(146)	(149)	—	—	—	—
Net operating income	199	172	166	168	199	172	166	168	—	—	—	—
Net loan-loss provisions	(80)	(24)	(47)	(42)	(80)	(24)	(47)	(42)	—	—	—	—
Other gains (losses) and provisions	(21)	(16)	1	7	(21)	(16)	1	7	—	—	—	—
Profit before tax	98	132	120	133	98	132	120	133	—	—	—	—
Tax on profit	(30)	(41)	(37)	(38)	(30)	(41)	(37)	(38)	—	—	—	—
Profit from continuing operations	68	92	83	95	68	92	83	95	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	68	92	83	95	68	92	83	95	—	—	—	—
Non-controlling interests	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	—	—	—	—
Underlying attributable profit to the parent	68	92	83	95	68	92	83	95	—	—	—	—

	NEW						PREVIOUS		DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				36,291 37,082 37,604 38,058			36,291 37,082 37,604 38,058		—	—	—	—
Cash, central banks and credit institutions	5,138	8,769	6,803	5,819	5,138	8,769	6,803	5,819	—	—	—	—
Debt instruments	11,346	11,782	11,673	11,569	11,346	11,782	11,673	11,569	—	—	—	—
Other financial assets	1,552	1,530	1,491	1,487	1,552	1,530	1,491	1,487	—	—	—	—
Other asset accounts	1,684	1,659	1,732	1,475	1,684	1,659	1,732	1,475	—	—	—	—
Total assets				56,011 60,822 59,302 58,408			56,011 60,822 59,302 58,408		—	—	—	—
Customer deposits				38,882 40,038 40,179 39,881			38,882 40,038 40,179 39,881		—	—	—	—
Central banks and credit institutions	7,974	11,584	9,734	9,974	7,974	11,584	9,734	9,974	—	—	—	—
Marketable debt securities	3,337	3,268	3,274	2,520	3,337	3,268	3,274	2,520	—	—	—	—
Other financial liabilities	301	256	265	249	301	256	265	249	—	—	—	—
Other liabilities accounts	1,666	1,784	1,820	1,643	1,666	1,784	1,820	1,643	—	—	—	—
Total liabilities				52,160 56,930 55,272 54,267			52,160 56,930 55,271 54,267		—	—	—	—
Total equity	3,851	3,892	4,031	4,141	3,851	3,892	4,031	4,141	—	—	—	—
Memorandum items:
Gross loans and advances to customers **				37,286 38,097 38,646 39,054			37,286 38,097 38,646 39,054		—	—	—	—
Customer funds				41,583 42,922 43,160 43,133			41,583 42,922 43,160 43,133		—	—	—	—
Customer deposits ***				38,882 40,038 40,179 39,881			38,882 40,038 40,179 39,881		—	—	—	—
Mutual funds	2,700	2,884	2,982	3,252	2,700	2,884	2,982	3,252	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Poland

EUR million

			NEW			PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	296	251	246	243	296	251	246	243	—	—	—	—
Net fee income	116	104	112	120	116	104	112	120	—	—	—	—
Gains (losses) on financial transactions *	8	21	35	26	8	21	35	26	—	—	—	—
Other operating income	(56)	1	1	(1)	(56)	1	1	(1)	—	—	—	—
Total income	365	377	394	388	365	377	394	388	—	—	—	—
Administrative expenses and amortisations	(172)	(143)	(161)	(154)	(172)	(143)	(161)	(154)	—	—	—	—
Net operating income	193	235	233	234	193	235	233	234	—	—	—	—
Net loan-loss provisions	(95)	(89)	(65)	(81)	(95)	(89)	(65)	(81)	—	—	—	—
Other gains (losses) and provisions	(36)	(40)	(32)	(87)	(36)	(40)	(32)	(87)	—	—	—	—
Profit before tax	62	105	136	66	62	105	136	66	—	—	—	—
Tax on profit	(30)	(31)	(36)	(32)	(30)	(31)	(36)	(32)	—	—	—	—
Profit from continuing operations	32	74	100	34	32	74	100	34	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	32	74	100	34	32	74	100	34	—	—	—	—
Non-controlling interests	(10)	(23)	(32)	(13)	(10)	(23)	(32)	(13)	—	—	—	—
Underlying attributable profit to the parent	23	51	68	20	23	51	68	20	—	—	—	—

	NEW						PREVIOUS		DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				29,194 29,186 28,217 28,025			29,194 29,186 28,217 28,025		—	—	—	—
Cash, central banks and credit institutions	3,547	3,004	1,956	2,539	3,547	3,004	1,956	2,539	—	—	—	—
Debt instruments	8,574	12,128	13,273	14,006	8,574	12,128	13,273	14,006	—	—	—	—
Other financial assets	741	511	537	980	741	511	537	980	—	—	—	—
Other asset accounts	1,334	1,367	1,397	1,341	1,334	1,367	1,397	1,341	—	—	—	—
Total assets				43,391 46,197 45,381 46,890			43,391 46,197 45,381 46,890		—	—	—	—
Customer deposits				31,687 34,317 33,952 34,868			31,687 34,317 33,952 34,868		—	—	—	—
Central banks and credit institutions	2,464	2,897	2,600	2,613	2,464	2,896	2,600	2,613	—	—	—	—
Marketable debt securities	2,360	2,056	1,958	2,110	2,360	2,056	1,958	2,110	—	—	—	—
Other financial liabilities	826	680	653	993	826	680	653	993	—	—	—	—
Other liabilities accounts	1,217	1,182	1,138	1,232	1,217	1,182	1,138	1,232	—	—	—	—
Total liabilities				38,554 41,131 40,301 41,816			38,554 41,131 40,301 41,816		—	—	—	—
Total equity	4,837	5,065	5,079	5,074	4,837	5,065	5,079	5,074	—	—	—	—
Memorandum items:
Gross loans and advances to customers **				30,076 30,151 29,205 29,055			30,076 30,151 29,205 29,055		—	—	—	—
Customer funds				34,661 37,623 37,606 38,889			34,661 37,623 37,606 38,889		—	—	—	—
Customer deposits ***				31,673 34,303 33,952 34,865			31,673 34,303 33,952 34,865		—	—	—	—
Mutual funds	2,988	3,320	3,653	4,023	2,988	3,320	3,653	4,023	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Other Europe

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	134	155	155	182	134	155	155	182	—	—	—	—
Net fee income	78	120	78	75	74	115	71	68	4	5	7	8
Gains (losses) on financial transactions *	(62)	(95)	72	(8)	(62)	(95)	72	(8)	—	—	—	—
Other operating income	57	72	37	40	55	72	38	41	2	(1)	(1)	—
Total income	207	251	343	290	202	246	337	282	5	4	6	8
Administrative expenses and amortisations	(222)	(223)	(226)	(238)	(216)	(217)	(214)	(217)	(6)	(6)	(12)	(21)
Net operating income	(15)	28	116	52	(14)	29	123	65	—	(2)	(7)	(13)
Net loan-loss provisions	(23)	(29)	5	(97)	(23)	(29)	5	(97)	—	—	—	—
Other gains (losses) and provisions	(4)	(9)	(4)	(12)	(4)	(7)	(4)	(12)	—	(2)	—	—
Profit before tax	(42)	(10)	117	(58)	(41)	(7)	124	(45)	(1)	(4)	(7)	(14)
Tax on profit	1	26	(36)	6	(1)	25	(38)	7	2	1	2	—
Profit from continuing operations	(40)	15	81	(52)	(42)	18	86	(38)	2	(3)	(5)	(14)
Net profit from discontinued operations	—	—	(0)	0	—	—	(0)	0	—	—	—	—
Consolidated profit	(40)	15	81	(52)	(42)	18	86	(38)	2	(3)	(5)	(14)
Non-controlling interests	0	(1)	(0)	1	0	(1)	(0)	1	—	—	—	—
Underlying attributable profit to the parent	(40)	14	81	(51)	(42)	17	86	(37)	2	(3)	(5)	(14)

	NEW				PREVIOUS			DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20			Mar-20 Jun-20 Sep-20 Dic-20					Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				61,235 61,350 56,448 53,483				61,226 61,341 56,436 53,469	8	9	12	15
Cash, central banks and credit institutions				52,832 80,178 49,174 37,241				52,765 80,113 49,076 37,044	68	65	98	197
Debt instruments				18,091 20,467 22,435 22,516				18,088 20,463 22,432 22,513	3	3	3	4
Other financial assets				56,014 49,036 46,683 42,463				55,945 48,964 46,612 42,387	68	72	71	76
Other asset accounts	3,265	4,529	4,410	2,462	3,207	4,322	4,194	2,270	57	207	217	192
Total assets				191,437 215,560 179,150 158,165				191,232 215,204 178,750 157,682	205	357	400	483
Customer deposits				21,390 24,095 24,252 24,307				21,378 24,084 24,237 24,290	12	11	15	17
Central banks and credit institutions				108,799 131,688 99,759 85,535				108,792 131,676 99,731 85,484	7	12	27	50
Marketable debt securities	(185)	1,250	2,022	2,353	(185)	1,250	2,022	2,353	—	—	—	—
Other financial liabilities				57,851 53,810 48,513 41,732				57,827 53,790 48,495 41,710	24	20	18	23
Other liabilities accounts	237	666	670	294	219	650	656	263	18	16	14	31
Total liabilities				188,093 211,510 175,215 154,221				188,033 211,451 175,142 154,099	61	59	74	122
Total equity	3,343	4,050	3,935	3,944	3,199	3,753	3,608	3,583	144	298	326	362
Memorandum items:
Gross loans and advances to customers **				46,667 44,435 41,659 43,818				46,658 44,427 41,647 43,803	8	9	12	15
Customer funds				25,597 28,529 29,195 30,786				25,585 28,518 29,180 30,768	12	11	15	17
Customer deposits ***				20,530 22,445 22,142 22,526				20,518 22,434 22,127 22,508	12	11	15	17
Mutual funds	5,067	6,084	7,053	8,260	5,067	6,084	7,053	8,260	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

NORTH AMERICA

EUR million

	NEW				PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	2,261	2,079	2,076	2,055	2,261	2,079	2,075	2,055	—	—	—	—
Net fee income	464	405	413	402	461	400	406	394	4	5	7	8
Gains (losses) on financial transactions *	68	138	33	12	68	138	33	12	—	—	—	—
Other operating income	148	89	162	231	146	89	163	231	2	(1)	(1)	—
Total income	2,941	2,711	2,683	2,699	2,936	2,706	2,678	2,691	5	4	6	8
Administrative expenses and amortisations	(1,230)	(1,123)	(1,109)	(1,215)	(1,224)	(1,117)	(1,097)	(1,194)	(6)	(6)	(13)	(22)
Net operating income	1,711	1,587	1,574	1,484	1,712	1,589	1,581	1,498	—	(2)	(7)	(14)
Net loan-loss provisions	(1,246)	(1,123)	(775)	(773)	(1,246)	(1,123)	(775)	(773)	—	—	—	—
Other gains (losses) and provisions	(14)	(38)	(24)	(57)	(14)	(36)	(24)	(57)	—	(2)	—	—
Profit before tax	452	427	774	654	452	430	781	668	(1)	(4)	(7)	(14)
Tax on profit	(114)	(58)	(246)	(155)	(116)	(59)	(248)	(154)	2	1	2	—
Profit from continuing operations	337	369	528	500	336	371	533	514	2	(3)	(5)	(15)
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	337	369	528	500	336	371	533	514	2	(3)	(5)	(15)
Non-controlling interests	(56)	(35)	(89)	(83)	(56)	(35)	(89)	(83)	—	—	—	—
Underlying attributable profit to the parent	282	334	439	417	280	336	444	431	2	(3)	(5)	(15)

	NEW				PREVIOUS			DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				135,468 133,325 122,771 120,571			135,459 133,316 122,759 120,557		8	9	12	15
Cash, central banks and credit institutions				33,241 31,001 28,506 28,666			33,173 30,936 28,408 28,469		68	65	98	197
Debt instruments				30,265 37,368 36,724 38,402			30,262 37,365 36,721 38,399		3	3	3	4
Other financial assets		18,218 20,281	17,416	15,439		18,150 20,209	17,345	15,363	68	73	71	76
Other asset accounts				23,240 22,051 21,029 20,718			23,183 21,843 20,812 20,526		57	208	217	193
Total assets				240,432 244,026 226,446 223,797			240,227 243,668 226,045 223,313		205	358	401	485
Customer deposits				117,783 113,468 108,247 102,924			117,771 113,456 108,232 102,907		12	11	15	17
Central banks and credit institutions				30,965 35,505 29,682 38,017			30,958 35,493 29,654 37,966		7	12	27	51
Marketable debt securities				42,024 43,231 39,946 36,583			42,024 43,231 39,946 36,583		—	—	—	—
Other financial liabilities		19,578 21,417	18,586	16,182		19,555 21,397	18,569	16,159	24	20	18	23
Other liabilities accounts	6,670	6,594	6,390	6,029	6,652	6,578	6,376	5,997	18	16	14	31
Total liabilities				217,021 220,214 202,851 199,735			216,960 220,155 202,777 199,613		61	59	74	122
Total equity				23,411 23,812 23,595 24,062			23,267 23,514 23,268 23,700		144	299	327	363
Memorandum items:
Gross loans and advances to customers **									8	9	12	15
				131,922 131,163 122,647 120,665			131,913 131,154 122,634 120,650		12	11		17
Customer funds				119,997 124,818 117,312 117,548			119,985 124,807 117,297 117,530				15
Customer deposits ***				101,401 104,743 96,720 96,315			101,389 104,732 96,705 96,298		12	11	15	17
Mutual funds				18,596 20,075 20,592 21,233			18,596 20,075 20,592 21,233		—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

United States

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	1,462	1,429	1,406	1,348	1,462	1,429	1,406	1,348	—	—	—	—
Net fee income	250	215	218	206	250	215	218	206	—	—	—	—
Gains (losses) on financial transactions *	46	50	12	10	46	50	12	10	—	—	—	—
Other operating income	170	108	194	237	170	108	194	237	—	—	—	—
Total income	1,929	1,801	1,830	1,801	1,929	1,801	1,830	1,801	—	—	—	—
Administrative expenses and amortisations	(809)	(776)	(722)	(772)	(809)	(776)	(722)	(772)	—	—	—	—
Net operating income	1,120	1,024	1,108	1,029	1,120	1,024	1,108	1,029	—	—	—	—
Net loan-loss provisions	(972)	(832)	(572)	(561)	(972)	(832)	(572)	(561)	—	—	—	—
Other gains (losses) and provisions	(6)	(30)	(20)	(37)	(6)	(30)	(20)	(37)	—	—	—	—
Profit before tax	141	163	515	431	141	163	515	431	—	—	—	—
Tax on profit	(42)	7	(182)	(101)	(42)	7	(182)	(101)	—	—	—	—
Profit from continuing operations	99	170	333	330	99	170	333	330	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	99	170	333	330	99	170	333	330	—	—	—	—
Non-controlling interests	(38)	(20)	(74)	(69)	(38)	(20)	(74)	(69)	—	—	—	—
Underlying attributable profit to the parent	60	151	259	260	60	151	259	260	—	—	—	—

	NEW					PREVIOUS			DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				104,561 102,743 93,850 90,992				104,561 102,743 93,850 90,992	—	—	—	—
Cash, central banks and credit institutions	19,765	19,221	16,680	16,614	19,765	19,221	16,680	16,614	—	—	—	—
Debt instruments	15,959	16,002	14,479	14,084	15,959	16,002	14,479	14,084	—	—	—	—
Other financial assets	7,249	6,476	4,988	4,381	7,249	6,476	4,988	4,381	—	—	—	—
Other asset accounts	19,897	18,749	17,762	17,003	19,897	18,749	17,762	17,003	—	—	—	—
Total assets				167,431 163,192 147,760 143,074				167,431 163,192 147,760 143,074	—	—	—	—
Customer deposits				83,705 77,938 73,316 67,450				83,705 77,938 73,316 67,450	—	—	—	—
Central banks and credit institutions		18,105 20,991		15,665 20,989		18,105 20,991		15,665 20,989	—	—	—	—
Marketable debt securities				36,086 35,927 32,558 29,737				36,086 35,927 32,558 29,737	—	—	—	—
Other financial liabilities	7,402	6,586	5,002	4,329	7,402	6,586	5,002	4,329	—	—	—	—
Other liabilities accounts	4,254	3,930	3,846	3,369	4,254	3,930	3,846	3,369	—	—	—	—
Total liabilities				149,553 145,371 130,388 125,874				149,553 145,371 130,388 125,874	—	—	—	—
Total equity				17,878 17,821 17,373 17,200				17,878 17,821 17,373 17,200	—	—	—	—
Memorandum items:
Gross loans and advances to customers **				101,146 100,826 92,836 90,459				101,146 100,826 92,836 90,459	—	—	—	—
Customer funds				82,155 86,719 79,492 76,972				82,155 86,719 79,492 76,972	—	—	—	—
Customer deposits ***				72,884 76,213 68,962 66,385				72,884 76,213 68,962 66,385	—	—	—	—
Mutual funds	9,271	10,506	10,529	10,586	9,271	10,506	10,529	10,586	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Mexico

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	798	650	669	707	798	650	669	707	—	—	—	—
Net fee income	211	185	189	188	211	185	189	188	—	—	—	—
Gains (losses) on financial transactions *	22	89	21	2	22	89	21	2	—	—	—	—
Other operating income	(24)	(18)	(31)	(6)	(24)	(18)	(31)	(6)	—	—	—	—
Total income	1,007	905	848	891	1,007	905	848	891	—	—	—	—
Administrative expenses and amortisations	(415)	(341)	(375)	(422)	(415)	(341)	(375)	(422)	—	—	—	—
Net operating income	592	565	473	469	592	565	473	469	—	—	—	—
Net loan-loss provisions	(273)	(291)	(203)	(212)	(273)	(291)	(203)	(212)	—	—	—	—
Other gains (losses) and provisions	(8)	(6)	(4)	(19)	(8)	(6)	(4)	(19)	—	—	—	—
Profit before tax	311	267	266	238	311	267	266	238	—	—	—	—
Tax on profit	(74)	(66)	(66)	(53)	(74)	(66)	(66)	(53)	—	—	—	—
Profit from continuing operations	237	201	200	185	237	201	200	185	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	237	201	200	185	237	201	200	185	—	—	—	—
Non-controlling interests	(17)	(15)	(15)	(14)	(17)	(15)	(15)	(14)	—	—	—	—
Underlying attributable profit to the parent	220	186	185	171	220	186	185	171	—	—	—	—

	NEW					PREVIOUS		DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers				30,898 30,573 28,909 29,565				30,898 30,573 28,909 29,565	—	—	—	—
Cash, central banks and credit institutions	13,408	11,714	11,728	11,854	13,408	11,714	11,728	11,854	—	—	—	—
Debt instruments				14,303 21,363 22,241 24,315				14,303 21,363 22,241 24,315	—	—	—	—
Other financial assets	10,901	13,733	12,357	10,982	10,901	13,733	12,357	10,982	—	—	—	—
Other asset accounts	3,286	3,094	3,050	3,523	3,286	3,094	3,050	3,523	—	—	—	—
Total assets				72,796 80,476 78,285 80,239				72,796 80,476 78,285 80,239	—	—	—	—
Customer deposits				34,066 35,518 34,916 35,457				34,066 35,518 34,916 35,457	—	—	—	—
Central banks and credit institutions	12,853	14,502	13,989	16,977	12,853	14,502	13,989	16,977	—	—	—	—
Marketable debt securities	5,938	7,305	7,388	6,847	5,938	7,305	7,388	6,847	—	—	—	—
Other financial liabilities	12,152	14,811	13,567	11,830	12,152	14,811	13,567	11,830	—	—	—	—
Other liabilities accounts	2,398	2,648	2,530	2,628	2,398	2,648	2,530	2,628	—	—	—	—
Total liabilities				67,407 74,784 72,390 73,739				67,407 74,784 72,390 73,739	—	—	—	—
Total equity	5,389	5,693	5,895	6,500	5,389	5,693	5,895	6,500	—	—	—	—
Memorandum items:
Gross loans and advances to customers **				30,768 30,329 29,798 30,191				30,768 30,329 29,798 30,191	—	—	—	—
Customer funds				37,830 38,088 37,806 40,558				37,830 38,088 37,806 40,558	—	—	—	—
Customer deposits ***				28,505 28,519 27,743 29,912				28,505 28,519 27,743 29,912	—	—	—	—
Mutual funds	9,325	9,570	10,063	10,646	9,325	9,570	10,063	10,646	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Other North America

EUR million

				PREVIOUS		DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	(0)	0	0	0					—	—	—	—
Net fee income	4	5	7	8					4	5	7	8
Gains (losses) on financial transactions *	(0)	(0)	(0)	(0)					—	—	—	—
Other operating income	2	(1)	(1)	(0)					2	(1)	(1)	—
Total income	5	4	6	8					5	4	6	8
Administrative expenses and amortisations	(6)	(6)	(13)	(22)					(6)	(6)	(13)	(22)
Net operating income	(0)	(2)	(7)	(14)					—	(2)	(7)	(14)
Net loan-loss provisions	(0)	(0)	(0)	(0)					—	—	—	—
Other gains (losses) and provisions	(0)	(2)	(0)	0					—	(2)	—	—
Profit before tax	(1)	(4)	(7)	(14)					(1)	(4)	(7)	(14)
Tax on profit	2	1	2	(0)					2	1	2	—
Profit from continuing operations	2	(3)	(5)	(15)					2	(3)	(5)	(15)
Net profit from discontinued operations	—	—	—	—					—	—	—	—
Consolidated profit	2	(3)	(5)	(15)					2	(3)	(5)	(15)
Non-controlling interests	0	0	0	0					—	—	—	—
Underlying attributable profit to the parent	2	(3)	(5)	(15)					2	(3)	(5)	(15)

	NEW					PREVIOUS	DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20			Mar-20 Jun-20 Sep-20 Dic-20			Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers	8	9	12	15			8	9	12	15
Cash, central banks and credit institutions	68	65	98	197			68	65	98	197
Debt instruments	3	3	3	4			3	3	3	4
Other financial assets	68	73	71	76			68	73	71	76
Other asset accounts	57	208	217	193			57	208	217	193
Total assets	205	358	401	485			205	358	401	485
Customer deposits	12	11	15	17			12	11	15	17
Central banks and credit institutions	7	12	27	51			7	12	27	51
Marketable debt securities	—	—	—	—			—	—	—	—
Other financial liabilities	24	20	18	23			24	20	18	23
Other liabilities accounts	18	16	14	31			18	16	14	31
Total liabilities	61	59	74	122			61	59	74	122
Total equity	144	299	327	363			144	299	327	363
Memorandum items:
Gross loans and advances to customers **	8	9	12	15			8	9	12	15
Customer funds	12	11	15	17			12	11	15	17
Customer deposits ***	12	11	15	17			12	11	15	17
Mutual funds	—	—	—	—			—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

SOUTH AMERICA

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	3,065	2,606	2,486	2,566	3,065	2,606	2,486	2,566	—	—	—	—
Net fee income	1,077	779	848	885	1,074	774	841	878	4	5	7	8
Gains (losses) on financial transactions *	68	363	177	158	68	363	177	158	—	—	—	—
Other operating income	(42)	(52)	(29)	(87)	(43)	(52)	(27)	(87)	2	(1)	(1)	—
Total income	4,169	3,695	3,483	3,522	4,163	3,690	3,477	3,514	5	4	6	8
Administrative expenses and amortisations	(1,492)	(1,281)	(1,250)	(1,335)	(1,486)	(1,275)	(1,238)	(1,314)	(6)	(6)	(12)	(21)
Net operating income	2,677	2,414	2,233	2,187	2,677	2,416	2,240	2,201	—	(2)	(7)	(13)
Net loan-loss provisions	(1,325)	(1,110)	(787)	(702)	(1,325)	(1,110)	(787)	(702)	—	—	—	—
Other gains (losses) and provisions	(142)	(54)	(71)	(54)	(142)	(52)	(70)	(54)	—	(2)	—	—
Profit before tax	1,210	1,250	1,375	1,431	1,211	1,254	1,382	1,444	(1)	(4)	(7)	(14)
Tax on profit	(414)	(470)	(544)	(495)	(416)	(470)	(546)	(495)	2	1	2	—
Profit from continuing operations	796	781	832	935	795	783	837	949	2	(3)	(5)	(14)
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	796	781	832	935	795	783	837	949	2	(3)	(5)	(14)
Non-controlling interests	(96)	(98)	(101)	(141)	(96)	(98)	(101)	(141)	—	—	—	—
Underlying attributable profit to the parent	700	682	731	794	698	685	736	808	2	(3)	(5)	(14)

Mar-20 Jun-20 Sep-20 Dic-20 Mar-20 Jun-20 Sep-20 Dic-20 Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers 112,873 111,004 109,061 113,745 112,865 110,995 109,049 113,731 8 9	12 15
Cash, central banks and credit institutions 45,955 44,557 40,808 43,154 45,888 44,492 40,710 42,957 68 65	98 197
Debt instruments 44,699 45,236 43,340 49,303 44,696 45,233 43,336 49,300 3 3	3 4
Other financial assets 19,328 20,749 16,973 17,342 19,260 20,676 16,902 17,266 68 72	71 76
Other asset accounts 17,194 16,804 15,946 15,201 17,137 16,596 15,730 15,009 57 207	217 192
Total assets 240,049 238,349 226,128 238,746 239,844 237,993 225,728 238,263 205 357	400 483
Customer deposits 106,444 112,598 110,475 111,808 106,432 112,587 110,459 111,791 12 11	15 17
Central banks and credit institutions 45,539 42,411 36,818 42,040 45,533 42,399 36,790 41,990 12 7	27 50
Marketable debt securities 26,951 23,973 20,728 21,280 26,951 23,973 20,728 21,280 — —	— —
Other financial liabilities 33,546 32,218 31,546 35,456 33,522 32,198 31,529 35,433 24 20	18 23
Other liabilities accounts 8,548 8,230 7,902 8,334 8,529 8,215 7,888 8,302 18 16	14 31
Total liabilities 221,028 219,431 207,469 218,918 220,968 219,372 207,395 218,796 61 59	74 122
Total equity 19,021 18,919 18,659 19,828 18,877 18,621 18,333 19,466 144 298	326 362
Memorandum items:
Gross loans and advances to customers ** 117,622 115,747 113,594 118,784 117,614 115,738 113,582 118,769 8 9	12 15
Customer funds 148,114 149,933 146,480 153,241 148,102 149,922 146,465 153,224 12 11	15 17
Customer deposits *** 95,946 101,976 99,513 103,319 95,933 101,965 99,498 103,302 12 11	15 17
Mutual funds 52,169 47,957 46,966 49,922 52,169 47,957 46,966 49,922 — —	— —

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Brazil

EUR million

			NEW			PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	2,270	1,813	1,756	1,786	2,270	1,813	1,756	1,786	—	—	—	—
Net fee income	869	614	664	677	869	614	664	677	—	—	—	—
Gains (losses) on financial transactions *	14	247	93	114	14	247	93	114	—	—	—	—
Other operating income	(17)	(23)	21	(32)	(17)	(23)	21	(32)	—	—	—	—
Total income	3,137	2,651	2,534	2,544	3,137	2,651	2,534	2,544	—	—	—	—
Administrative expenses and amortisations	(1,004)	(835)	(805)	(897)	(1,004)	(835)	(805)	(897)	—	—	—	—
Net operating income	2,133	1,816	1,729	1,648	2,133	1,816	1,729	1,648	—	—	—	—
Net loan-loss provisions	(1,066)	(843)	(569)	(540)	(1,066)	(843)	(569)	(540)	—	—	—	—
Other gains (losses) and provisions	(127)	(31)	(68)	(36)	(127)	(31)	(68)	(36)	—	—	—	—
Profit before tax	940	942	1,092	1,072	940	942	1,092	1,072	—	—	—	—
Tax on profit	(368)	(408)	(481)	(436)	(368)	(408)	(481)	(436)	—	—	—	—
Profit from continuing operations	571	533	611	636	571	533	611	636	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	571	533	611	636	571	533	611	636	—	—	—	—
Non-controlling interests	(55)	(55)	(61)	(68)	(55)	(55)	(61)	(68)	—	—	—	—
Underlying attributable profit to the parent	517	478	550	568	517	478	550	568	—	—	—	—

NEW						DIFFERENCES
										—
										—
										—
			6,877			6,877				—
			10,600			10,600				—
										—
										—
										—
			11,901			11,901				—
										—
			6,157			6,157				—
										—
										—
										—
										—
										—
										—
		5,885 12,410 16,278 19,126 6,654	7,190 11,947 14,207 17,968 6,282	Mar-20 Jun-20 Sep-20 Dic-20 65,663 61,572 59,820 63,974 30,070 29,805 28,219 31,466 37,932 35,652 33,312 37,655 5,984 11,421 151,960 146,166 138,757 150,573 64,578 69,202 69,485 70,083 32,812 26,379 20,064 26,350 12,047 19,416 23,536 6,004 139,448 134,037 127,017 138,026 12,512 12,128 11,740 12,547 69,041 64,859 62,926 67,424 98,212 97,585 95,586 100,351 54,244 58,730 58,571 61,627 43,969 38,856 37,015 38,725	5,885 12,410 16,278 19,126 6,654	PREVIOUS 7,190 11,947 14,207 17,968 6,282	Mar-20 Jun-20 Sep-20 Dic-20 65,663 61,572 59,820 63,974 30,070 29,805 28,219 31,466 37,932 35,652 33,312 37,655 5,984 11,421 151,960 146,166 138,757 150,573 64,578 69,202 69,485 70,083 32,811 26,379 20,064 26,350 12,047 19,416 23,536 6,004 139,448 134,037 127,017 138,026 12,512 12,129 11,740 12,547 69,041 64,859 62,926 67,424 98,212 97,585 95,586 100,351 54,244 58,730 58,571 61,627 43,969 38,856 37,015 38,725		— — — — — — — — — — — — — — — — —	Mar-20 Jun-20 Sep-20 Dic-20 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Chile

EUR million

			NEW			PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	448	425	420	494	448	425	420	494	—	—	—	—
Net fee income	92	74	74	94	92	74	74	94	—	—	—	—
Gains (losses) on financial transactions *	13	92	51	18	13	92	51	18	—	—	—	—
Other operating income	(1)	(6)	(12)	(12)	(1)	(6)	(12)	(12)	—	—	—	—
Total income	553	584	532	594	553	584	532	594	—	—	—	—
Administrative expenses and amortisations	(230)	(228)	(223)	(219)	(230)	(228)	(223)	(219)	—	—	—	—
Net operating income	322	356	310	375	322	356	310	375	—	—	—	—
Net loan-loss provisions	(163)	(183)	(154)	(94)	(163)	(183)	(154)	(94)	—	—	—	—
Other gains (losses) and provisions	1	(2)	13	4	1	(2)	13	4	—	—	—	—
Profit before tax	160	171	169	285	160	171	169	285	—	—	—	—
Tax on profit	(21)	(42)	(43)	(49)	(21)	(42)	(43)	(49)	—	—	—	—
Profit from continuing operations	138	129	125	236	138	129	125	236	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	138	129	125	236	138	129	125	236	—	—	—	—
Non-controlling interests	(41)	(43)	(39)	(73)	(41)	(43)	(39)	(73)	—	—	—	—
Underlying attributable profit to the parent	97	86	86	163	97	86	86	163	—	—	—	—

	NEW					PREVIOUS		DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers			36,542 38,037 38,360 39,381				36,542 38,037 38,360 39,381		—	—	—	—
Cash, central banks and credit institutions	9,322	8,709	6,513	5,836	9,322	8,709	6,513	5,836	—	—	—	—
Debt instruments	3,850	5,958	6,615	8,365	3,850	5,958	6,615	8,365	—	—	—	—
Other financial assets	13,176	13,306	10,747	10,221	13,176	13,306	10,747	10,221	—	—	—	—
Other asset accounts	3,429	3,311	3,029	3,076	3,429	3,311	3,029	3,076	—	—	—	—
Total assets			66,319 69,321 65,265 66,880				66,319 69,321 65,265 66,880		—	—	—	—
Customer deposits			27,205 28,534 26,835 28,362				27,205 28,534 26,835 28,362		—	—	—	—
Central banks and credit institutions	9,217	11,822	12,525	11,611	9,217	11,822	12,525	11,611	—	—	—	—
Marketable debt securities	10,475	9,593	8,553	9,247	10,475	9,593	8,553	9,247	—	—	—	—
Other financial liabilities	13,661	13,501	11,427	11,162	13,661	13,501	11,427	11,162	—	—	—	—
Other liabilities accounts	1,202	1,276	1,258	1,519	1,202	1,276	1,258	1,519	—	—	—	—
Total liabilities			61,760 64,727 60,597 61,902				61,760 64,727 60,597 61,902		—	—	—	—
Total equity	4,559	4,594	4,668	4,978	4,559	4,594	4,668	4,978	—	—	—	—
Memorandum items:
Gross loans and advances to customers **			37,550 39,115 39,413 40,593				37,550 39,115 39,413 40,593		—	—	—	—
Customer funds			33,939 35,913 34,886 37,873				33,939 35,913 34,886 37,873		—	—	—	—
Customer deposits ***			27,041 28,385 26,788 28,330				27,041 28,385 26,788 28,330		—	—	—	—
Mutual funds	6,898	7,528	8,098	9,543	6,898	7,528	8,098	9,543	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Argentina

EUR million

			NEW			PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	241	261	218	192	241	261	218	192	—	—	—	—
Net fee income	76	56	70	71	76	56	70	71	—	—	—	—
Gains (losses) on financial transactions *	23	10	18	11	23	10	18	11	—	—	—	—
Other operating income	(22)	(17)	(32)	(48)	(22)	(17)	(32)	(48)	—	—	—	—
Total income	318	310	274	226	318	310	274	226	—	—	—	—
Administrative expenses and amortisations	(186)	(153)	(152)	(141)	(186)	(153)	(152)	(141)	—	—	—	—
Net operating income	132	157	122	85	132	157	122	85	—	—	—	—
Net loan-loss provisions	(75)	(57)	(46)	(48)	(75)	(57)	(46)	(48)	—	—	—	—
Other gains (losses) and provisions	(14)	(18)	(17)	(22)	(14)	(18)	(17)	(22)	—	—	—	—
Profit before tax	44	82	59	15	44	82	59	15	—	—	—	—
Tax on profit	(9)	(7)	(7)	3	(9)	(7)	(7)	3	—	—	—	—
Profit from continuing operations	34	75	52	18	34	75	52	18	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	34	75	52	18	34	75	52	18	—	—	—	—
Non-controlling interests	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	—	—	—	—
Underlying attributable profit to the parent	34	75	52	18	34	75	52	18	—	—	—	—

	NEW						PREVIOUS		DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers	4,485	4,721	4,502	4,151	4,485	4,721	4,502	4,151	—	—	—	—
Cash, central banks and credit institutions	3,395	2,986	3,082	3,048	3,395	2,986	3,082	3,048	—	—	—	—
Debt instruments	2,226	2,659	2,111	1,897	2,226	2,659	2,111	1,897	—	—	—	—
Other financial assets	77	68	64	59	77	68	64	59	—	—	—	—
Other asset accounts	824	840	826	832	824	840	826	832	—	—	—	—
Total assets			11,006 11,275 10,584	9,988			11,006 11,275 10,584	9,988	—	—	—	—
Customer deposits	8,305	8,134	7,605	7,179	8,305	8,134	7,605	7,179	—	—	—	—
Central banks and credit institutions	675	1,043	982	840	675	1,043	982	840	—	—	—	—
Marketable debt securities	87	76	23	20	87	76	23	20	—	—	—	—
Other financial liabilities	631	651	614	657	631	651	614	657	—	—	—	—
Other liabilities accounts	388	365	376	359	388	365	376	359	—	—	—	—
Total liabilities		10,086 10,269	9,600	9,056		10,086 10,269	9,600	9,056	—	—	—	—
Total equity	920	1,006	984	931	920	1,006	984	931	—	—	—	—
Memorandum items:
Gross loans and advances to customers **	4,724	4,970	4,746	4,395	4,724	4,970	4,746	4,395	—	—	—	—
Customer funds	9,569	9,669	9,421	8,795	9,569	9,669	9,421	8,795	—	—	—	—
Customer deposits ***	8,305	8,134	7,605	7,179	8,305	8,134	7,605	7,179	—	—	—	—
Mutual funds	1,264	1,535	1,816	1,616	1,264	1,535	1,816	1,616	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

Other South America

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	106	107	91	94	106	107	91	94	—	—	—	—
Net fee income	40	34	40	43	37	29	33	35	4	5	7	8
Gains (losses) on financial transactions *	18	14	16	14	18	15	16	15	—	—	—	—
Other operating income	(2)	(6)	(5)	5	(4)	(5)	(3)	5	2	(1)	(1)	—
Total income	162	149	143	157	157	145	137	149	5	4	6	8
Administrative expenses and amortisations	(72)	(65)	(70)	(78)	(66)	(59)	(57)	(57)	(6)	(6)	(12)	(21)
Net operating income	90	85	73	79	91	86	80	93	—	(2)	(7)	(13)
Net loan-loss provisions	(21)	(27)	(19)	(20)	(21)	(27)	(19)	(19)	—	—	—	—
Other gains (losses) and provisions	(2)	(2)	1	(0)	(2)	(1)	1	(0)	—	(2)	—	—
Profit before tax	67	55	55	59	68	59	62	73	(1)	(4)	(7)	(14)
Tax on profit	(15)	(12)	(13)	(14)	(17)	(13)	(15)	(14)	2	1	2	—
Profit from continuing operations	52	43	43	45	51	46	48	59	2	(3)	(5)	(14)
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	52	43	43	45	51	46	48	59	2	(3)	(5)	(14)
Non-controlling interests	0	0	0	0	0	0	0	0	—	—	—	—
Underlying attributable profit to the parent	52	43	43	45	51	46	48	59	2	(3)	(5)	(14)

	NEW						PREVIOUS		DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers	6,183	6,674	6,380	6,239	6,175	6,666	6,368	6,224	8	9	12	15
Cash, central banks and credit institutions	3,169	3,056	2,993	2,803	3,101	2,991	2,895	2,607	68	65	98	197
Debt instruments	691	967	1,301	1,386	688	964	1,298	1,382	3	3	3	4
Other financial assets	190	185	177	185	122	112	107	109	68	72	71	76
Other asset accounts	531	706	670	692	474	499	454	500	57	207	217	192
Total assets				10,764 11,588 11,522 11,306			10,560 11,231 11,122 10,822		205	357	400	483
Customer deposits	6,356	6,727	6,550	6,184	6,344	6,716	6,534	6,167	12	11	15	17
Central banks and credit institutions	2,835	3,167	3,247	3,239	2,829	3,156	3,220	3,188	7	12	27	50
Marketable debt securities	112	97	105	112	112	97	105	112	—	—	—	—
Other financial liabilities	127	98	89	101	104	78	71	78	24	20	18	23
Other liabilities accounts	304	308	264	298	286	292	250	267	18	16	14	31
Total liabilities			9,735 10,398 10,255	9,934			9,674 10,339 10,181	9,812	61	59	74	122
Total equity	1,030	1,190	1,267	1,372	886	892	941	1,010	144	298	326	362
Memorandum items:
Gross loans and advances to customers **	6,308	6,803	6,510	6,373	6,299	6,794	6,497	6,358	8	9	12	15
Customer funds	6,394	6,765	6,587	6,222	6,382	6,754	6,572	6,205	12	11	15	17
Customer deposits ***	6,356	6,727	6,550	6,184	6,344	6,716	6,534	6,167	12	11	15	17
Mutual funds	38	38	37	38	38	38	37	38	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

DIGITAL CONSUMER BANK

EUR million

	NEW					PREVIOUS)		DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	1,088	1,054	1,048	1,073					1,088	1,054	1,048	1,073
Net fee income	192	163	211	205					192	163	211	205
Gains (losses) on financial transactions *	(12)	3	8	17					(12)	3	8	17
Other operating income	23	(6)	42	57					23	(6)	42	57
Total income	1,291	1,214	1,309	1,352					1,291	1,214	1,309	1,352
Administrative expenses and amortisations	(596)	(552)	(585)	(596)					(596)	(552)	(585)	(596)
Net operating income	695	662	724	756					695	662	724	756
Net loan-loss provisions	(331)	(200)	(222)	(204)					(331)	(200)	(222)	(204)
Other gains (losses) and provisions	40	23	(20)	6					40	23	(20)	6
Profit before tax	404	485	482	558					404	485	482	558
Tax on profit	(107)	(129)	(125)	(133)					(107)	(129)	(125)	(133)
Profit from continuing operations	297	356	357	424					297	356	357	424
Net profit from discontinued operations	—	—	0	(0)					—	—	—	—
Consolidated profit	297	356	357	424					297	356	357	424
Non-controlling interests	(63)	(83)	(76)	(79)					(63)	(83)	(76)	(79)
Underlying attributable profit to the parent	234	273	281	345					234	273	281	345

	NEW					PREVIOUS)	DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20			Mar-20 Jun-20 Sep-20 Dic-20			Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers			112,162 111,187 110,498 113,257							112,162 111,187 110,498 113,257
Cash, central banks and credit institutions	21,581		19,568 20,533 21,754				21,581			19,568 20,533 21,754
Debt instruments	2,710	4,565	5,559	5,660			2,710	4,565	5,559	5,660
Other financial assets	45	36	33	30			45	36	33	30
Other asset accounts	5,107	5,243	6,400	6,149			5,107	5,243	6,400	6,149
Total assets			141,605 140,599 143,023 146,851							141,605 140,599 143,023 146,851
Customer deposits			48,772 49,260 49,996 51,399							48,772 49,260 49,996 51,399
Central banks and credit institutions			37,155 37,704 39,151 41,567							37,155 37,704 39,151 41,567
Marketable debt securities			38,642 36,259 35,914 35,965							38,642 36,259 35,914 35,965
Other financial liabilities	1,275	1,675	1,655	1,370			1,275	1,675	1,655	1,370
Other liabilities accounts	3,633	3,789	4,088	3,940			3,633	3,789	4,088	3,940
Total liabilities			129,478 128,687 130,803 134,241							129,478 128,687 130,803 134,241
Total equity			12,128 11,912 12,220 12,610							12,128 11,912 12,220 12,610
Memorandum items:
Gross loans and advances to customers **			114,970 114,006 113,335 116,083							114,970 114,006 113,335 116,083
Customer funds			49,226 49,797 50,566 52,058							49,226 49,797 50,566 52,058
Customer deposits ***			48,772 49,260 49,996 51,399							48,772 49,260 49,996 51,399
Mutual funds	453	536	570	658			453	536	570	658

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

SANTANDER GLOBAL PLATFORM (primary segment)

EUR million

	NEW				PREVIOUS)			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income					31	32	33	33	(31)	(32)	(33)	(33)
Net fee income					13	18	24	26	(13)	(18)	(24)	(26)
Gains (losses) on financial transactions *					0	(0)	(0)	(0)	—	—	—	—
Other operating income					1	(6)	(9)	(4)	(1)	6	9	4
Total income					45	44	48	55	(45)	(44)	(48)	(55)
Administrative expenses and amortizations					(71)	(77)	(114)	(119)	71	77	114	119
Net operating income					(26)	(33)	(66)	(65)	26	33	66	65
Net loan-loss provisions					(0)	(1)	(1)	(1)	—	1	1	1
Other gains (losses) and provisions					(1)	(6)	(1)	(3)	1	6	1	3
Profit before tax					(27)	(40)	(68)	(68)	27	40	68	68
Tax on profit					14	11	20	7	(14)	(11)	(20)	(7)
Profit from continuing operations					(13)	(28)	(48)	(62)	13	28	48	62
Net profit from discontinued operations					—	—	—	—	—	—	—	—
Consolidated profit					(13)	(28)	(48)	(62)	13	28	48	62
Non-controlling interests					0	0	1	0	—	—	(1)	—
Underlying attributable profit to the parent					(13)	(28)	(48)	(62)	13	28	48	62

	NEW				PREVIOUS)			DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers					791	834	907	973	(791)	(834)	(907)	(973)
Cash, central banks and credit institutions					9,423	9,737	10,008	10,917	(9,423)	(9,737)	(10,008)	(10,917)
Debt instruments					10	10	10	14	(10)	(10)	(10)	(14)
Other financial assets					205	218	213	230	(205)	(218)	(213)	(230)
Other asset accounts					318	766	812	769	(318)	(766)	(812)	(769)
Total assets								10,747 11,566 11,949 12,901	(10,747)	(11,566)	(11,949)	(12,901)
Customer deposits					9,674	9,998	10,290	10,961	(9,674)	(9,998)	(10,290)	(10,961)
Central banks and credit institutions					144	171	212	274	(144)	(171)	(212)	(274)
Marketable debt securities					—	—	—	—	—	—	—	—
Other financial liabilities					134	149	122	130	(134)	(149)	(122)	(130)
Other liabilities accounts					98	103	112	156	(98)	(103)	(112)	(156)
Total liabilities								10,051 10,420 10,736 11,521	(10,051)	(10,420)	(10,736)	(11,521)
Total equity					696	1,146	1,212	1,381	(696)	(1,146)	(1,212)	(1,381)
Memorandum items:
Gross loans and advances to customers **					794	838	911	979	(794)	(838)	(911)	(979)
Customer funds					10,127	10,534	10,860	11,619	(10,127)	(10,534)	(10,860)	(11,619)
Customer deposits ***					9,674	9,998	10,290	10,961	(9,674)	(9,998)	(10,290)	(10,961)
Mutual funds					453	536	570	658	(453)	(536)	(570)	(658)

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

CORPORATE CENTRE

EUR million

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	(304)	(354)	(371)	(345)	(304)	(354)	(371)	(345)	—	—	—	—
Net fee income	(9)	(6)	(11)	(3)	(9)	(6)	(11)	(3)	—	—	—	—
Gains (losses) on financial transactions *	14	64	104	104	14	64	104	104	—	—	—	—
Other operating income	(5)	(18)	6	(8)	(5)	(18)	6	(8)	—	—	—	—
Total income	(304)	(313)	(271)	(252)	(304)	(313)	(271)	(252)	—	—	—	—
Administrative expenses and amortisations	(85)	(82)	(82)	(80)	(85)	(82)	(82)	(80)	—	—	—	—
Net operating income	(389)	(395)	(353)	(333)	(389)	(395)	(353)	(333)	—	—	—	—
Net loan-loss provisions	(3)	(8)	(16)	(4)	(3)	(8)	(16)	(4)	—	—	—	—
Other gains (losses) and provisions	(20)	(370)	(12)	(9)	(20)	(370)	(12)	(9)	—	—	—	—
Profit before tax	(413)	(773)	(381)	(345)	(413)	(773)	(381)	(345)	—	—	—	—
Tax on profit	(524)	585	52	(44)	(524)	585	52	(44)	—	—	—	—
Profit from continuing operations	(937)	(188)	(330)	(389)	(937)	(188)	(330)	(389)	—	—	—	—
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	(937)	(188)	(330)	(389)	(937)	(188)	(330)	(389)	—	—	—	—
Non-controlling interests	(94)	94	(0)	0	(94)	94	(0)	0	—	—	—	—
Underlying attributable profit to the parent	(1,031)	(94)	(330)	(389)	(1,031)	(94)	(330)	(389)	—	—	—	—

	NEW					PREVIOUS			DIFFERENCES
			Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20				Mar-20 Jun-20 Sep-20 Dic-20
Balance sheet
Loans and advances to customers	5,989	5,205	4,827	5,044	5,989	5,205	4,827	5,044	—	—	—	—
Cash, central banks and credit institutions				46,314 48,530 63,947 61,173				46,314 48,530 63,947 61,173	—	—	—	—
Debt instruments	1,292	1,340	2,100	1,918	1,292	1,340	2,100	1,918	—	—	—	—
Other financial assets	3,745	2,058	2,067	1,645	3,745	2,058	2,067	1,645	—	—	—	—
Other asset accounts				131,526 115,303 114,295 112,807				131,526 115,303 114,295 112,807	—	—	—	—
Total assets				188,866 172,436 187,236 182,587				188,866 172,436 187,236 182,587	—	—	—	—
Customer deposits	740	770	1,074	825	740	770	1,074	825	—	—	—	—
Central banks and credit institutions	27,484			19,119 42,654 38,554	27,484			19,119 42,654 38,555	—	—	—	—
Marketable debt securities				56,906 63,010 57,866 57,240				56,906 63,010 57,866 57,240	—	—	—	—
Other financial liabilities	803	1,901	1,143	493	803	1,901	1,143	493	—	—	—	—
Other liabilities accounts	8,917	8,225	7,645	9,443	8,917	8,225	7,645	9,443	—	—	—	—
Total liabilities				94,849 93,024 110,382 106,556				94,849 93,024 110,382 106,556	—	—	—	—
Total equity				94,017 79,412 76,854 76,031				94,017 79,412 76,854 76,031	—	—	—	—
Memorandum items:
Gross loans and advances to customers **	6,135	5,367	5,008	5,224	6,135	5,367	5,008	5,224	—	—	—	—
Customer funds	751	786	1,089	837	751	786	1,089	837	—	—	—	—
Customer deposits ***	740	770	1,074	825	740	770	1,074	825	—	—	—	—
Mutual funds	11	17	15	12	11	17	15	12	—	—	—	—

(*).- Includes exchange differences.

(**).- Excluding reverse repos.

■ Secondary segments

RETAIL BANKING

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	8,004	7,272	7,280	7,500	7,885	7,141	7,148	7,371	120	131	133	128
Net fee income	2,058	1,536	1,707	1,685	2,024	1,495	1,671	1,661	34	42	36	24
Gains (losses) on financial transactions *	100	442	336	255	50	403	294	215	50	40	41	40
Other operating income	9	(179)	108	(90)	13	(179)	113	(88)	(5)	(1)	(4)	(2)
Total income	10,171	9,071	9,431	9,349	9,972	8,859	9,226	9,159	199	212	205	190
Administrative expenses and amortisations	(4,632)	(4,191)	(4,183)	(4,280)	(4,526)	(4,084)	(4,058)	(4,179)	(106)	(107)	(125)	(101)
Net operating income	5,538	4,880	5,248	5,069	5,445	4,775	5,168	4,980	93	105	81	89
Net loan-loss provisions	(3,890)	(2,862)	(2,465)	(2,415)	(3,889)	(2,846)	(2,463)	(2,410)	(1)	(16)	(2)	(5)
Other gains (losses) and provisions	(343)	(219)	(267)	(409)	(338)	(218)	(267)	(407)	(5)	(1)	(1)	(1)
Profit before tax	1,306	1,799	2,516	2,246	1,218	1,711	2,438	2,163	87	88	78	83
Tax on profit	(433)	(557)	(883)	(652)	(416)	(536)	(867)	(632)	(17)	(21)	(15)	(20)
Profit from continuing operations	873	1,242	1,633	1,594	802	1,175	1,571	1,531	71	67	62	64
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	873	1,242	1,633	1,594	802	1,175	1,571	1,531	71	67	62	64
Non-controlling interests	(180)	(202)	(258)	(281)	(168)	(193)	(249)	(273)	(12)	(9)	(10)	(9)
Underlying attributable profit to the parent	693	1,040	1,375	1,313	634	982	1,322	1,258	59	58	53	55

CORPORATE & INVESTMENT BANKING

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	677	705	771	765	671	713	788	781	6	(9)	(17)	(16)
Net fee income	402	405	360	375	404	406	361	379	(2)	(1)	(2)	(3)
Gains (losses) on financial transactions *	156	254	199	62	165	259	204	62	(9)	(5)	(5)	(1)
Other operating income	61	46	44	51	60	48	44	51	1	(2)	—	—
Total income	1,297	1,410	1,373	1,253	1,300	1,426	1,397	1,274	(4)	(16)	(24)	(21)
Administrative expenses and amortisations	(528)	(499)	(488)	(523)	(536)	(507)	(496)	(530)	8	8	8	6
Net operating income	769	910	885	730	764	919	901	744	5	(8)	(16)	(14)
Net loan-loss provisions	(6)	(239)	(40)	(185)	(4)	(245)	(41)	(176)	(1)	6	2	(9)
Other gains (losses) and provisions	(15)	(28)	(20)	(72)	(15)	(28)	(20)	(72)	—	—	—	—
Profit before tax	748	644	825	472	745	646	839	496	3	(3)	(14)	(23)
Tax on profit	(220)	(179)	(240)	(134)	(218)	(179)	(242)	(143)	(1)	—	2	9
Profit from continuing operations	528	465	585	339	527	467	597	353	2	(2)	(12)	(14)
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	528	465	585	339	527	467	597	353	2	(2)	(12)	(14)
Non-controlling interests	(34)	(30)	(31)	(23)	(36)	(30)	(32)	(23)	2	(1)	1	—
Underlying attributable profit to the parent	494	434	554	316	491	437	565	330	4	(3)	(11)	(14)

WEALTH MANAGEMENT & INSURANCE

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	109	93	92	100	132	104	104	113	(23)	(11)	(12)	(13)
Net fee income	308	269	279	296	320	279	290	306	(11)	(10)	(10)	(10)
Gains (losses) on financial transactions *	20	22	16	43	21	22	17	43	(1)	—	(1)	—
Other operating income	113	78	86	106	113	78	86	106	—	—	—	—
Total income	550	462	474	545	586	482	498	568	(36)	(21)	(24)	(23)
Administrative expenses and amortisations	(237)	(212)	(207)	(216)	(244)	(220)	(215)	(227)	7	8	7	12
Net operating income	313	250	266	329	342	263	283	341	(29)	(13)	(16)	(12)
Net loan-loss provisions	(6)	(6)	(11)	(5)	(7)	(5)	(10)	(6)	—	—	(1)	1
Other gains (losses) and provisions	(1)	(2)	(3)	7	(1)	(3)	(4)	7	1	—	1	—
Profit before tax	307	242	252	331	334	255	269	342	(28)	(13)	(17)	(10)
Tax on profit	(74)	(56)	(60)	(82)	(82)	(59)	(65)	(84)	8	4	5	2
Profit from continuing operations	232	186	193	249	252	195	204	257	(20)	(9)	(12)	(8)
Net profit from discontinued operations	—	—	—	—	—	—	—	—	—	—	—	—
Consolidated profit	232	186	193	249	252	195	204	257	(20)	(9)	(12)	(8)
Non-controlling interests	(11)	(8)	(9)	(11)	(11)	(9)	(9)	(11)	1	1	1	1
Underlying attributable profit to the parent	222	179	184	238	240	186	195	246	(19)	(8)	(11)	(7)

PAGONxt

	NEW				PREVIOUS				DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income	0	(1)	0	(0)					—	(1)	—	—
Net fee income	94	78	88	103					94	78	88	103
Gains (losses) on financial transactions *	3	(1)	(3)	(1)					3	(1)	(3)	(1)
Other operating income	5	(2)	(5)	(1)					5	(2)	(5)	(1)
Total income	101	75	81	100					101	75	81	100
Administrative expenses and amortisations	(95)	(92)	(113)	(142)					(95)	(92)	(113)	(142)
Net operating income	5	(18)	(33)	(42)					5	(18)	(33)	(42)
Net loan-loss provisions	(4)	(3)	(3)	(2)					(4)	(3)	(3)	(2)
Other gains (losses) and provisions	7	(6)	(1)	(2)					7	(6)	(1)	(2)
Profit before tax	8	(26)	(37)	(46)					8	(26)	(37)	(46)
Tax on profit	(9)	(1)	3	(9)					(9)	(1)	3	(9)
Profit from continuing operations	(1)	(27)	(34)	(55)					(1)	(27)	(34)	(55)
Net profit from discontinued operations	—	—	—	—					—	—	—	—
Consolidated profit	(1)	(27)	(34)	(55)					(1)	(27)	(34)	(55)
Non-controlling interests	0	0	1	0					—	—	1	—
Underlying attributable profit to the parent	(1)	(27)	(33)	(55)					(1)	(27)	(33)	(55)

SANTANDER GLOBAL PLATFORM (secondary segment)

	NEW					PREVIOUS			DIFFERENCES
	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20	Q1'20	Q2'20	Q3'20	Q4'20
Income statement
Net interest income					103	112	104	98	(103)	(112)	(104)	(98)
Net fee income					115	109	111	114	(115)	(109)	(111)	(114)
Gains (losses) on financial transactions *					42	33	32	38	(42)	(33)	(32)	(38)
Other operating income					0	(4)	(10)	(3)	—	4	10	3
Total income					260	250	238	247	(260)	(250)	(238)	(247)
Administrative expenses and amortizations					(186)	(183)	(222)	(225)	186	183	222	225
Net operating income					74	67	16	21	(74)	(67)	(16)	(21)
Net loan-loss provisions					(5)	(14)	(5)	(15)	5	14	5	15
Other gains (losses) and provisions					2	(6)	(2)	(4)	(2)	6	2	4
Profit before tax					71	46	10	3	(71)	(46)	(10)	(3)
Tax on profit					(19)	(18)	(5)	(17)	19	18	5	17
Profit from continuing operations					52	28	5	(14)	(52)	(28)	(5)	14
Net profit from discontinued operations					—	—	—	—	—	—	—	—
Consolidated profit					52	28	5	(14)	(52)	(28)	(5)	14
Non-controlling interests					(9)	(8)	(7)	(8)	9	8	7	8
Underlying attributable profit to the parent					43	20	(3)	(22)	(43)	(20)	3	22

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