桑坦德银行（Banco Santander）2025年度综合财务报告（英文版）（910页）.pdf

1、2025 Annual reportUnless otherwise specified,references in this annual report to other documents,including but not limited to other reports and websites,including our own,are for information purposes only.If the contents of such other documents and websites refer to this annual report,they are not n

2、or should be considered part of it.Unless the context suggests otherwise,Banco Santander means Banco Santander,S.A.,andSantander,the Group and Grupo Santander meanBanco Santander,S.A.and subsidiaries.Consolidated directors reportBusiness model andstrategy7The Santander Way8Our business model92025 re

3、sults10Looking ahead16Sustainability statement17Consolidated non-financial information and sustainability informationstatement1.Sustainability at Santander(General information)212.Climate transition plan(Environmental information)313.Supporting employees,communities andcustomers(Social information)7

4、04.Business conduct(Governance information)93Sustainability notes99Independent verification report243Other sustainability information249Corporate governance2511.2025 overview2532.Ownership structure2603.Shareholders and general meeting2664.Board of directors2745.Senior management team3246.Remunerati

5、on3267.Group structure and internal governance3588.Internal control over financial reporting(ICFR)3619.Other corporate governance information369Economic and financialreview4091.Economy,regulation and competition4112.Significant events in 20254173.Group selected data4184.Group financial performance42

6、05.Financial information by segment4646.Alternative performance measures(APMs)4997.Technological innovation:artificial intelligence,cybersecurity and fintech ecosystem 5098.Significant events since year end5129.New reporting structure from 1 January 202651310.Trend information 2026537Risk management