4Q13 Results Presentation

1. 1
30 January 2014

2. Important information
2
Banco Santander, S.A. ("Santander") cautions that this presentation contains forward-looking statements. These forward-looking
statements are found in various places throughout this presentation and include, without limitation, statements concerning our future
business development and economic performance. While these forward-looking statements represent our judgment and future
expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual
developments and results to differ materially from our expectations. These factors include, but are not limited to: (1) general market, macroeconomic, governmental and regulatory trends; (2) movements in local and international securities markets, currency exchange rates and
interest rates; (3) competitive pressures; (4) technological developments; and (5) changes in the financial position or credit worthiness of
our customers, obligors and counterparties. The risk factors that we have inDecated in our past and future filings and reports, including
those with the Securities and Exchange Commission of the United States of America (the “SEC”) could adversely affect our business and
financial performance. Other unknown or unpreDectable factors could cause actual results to differ materially from those in the forwardlooking statements.
Forward-looking statements speak only as of the date on which they are made and are based on the knowledge, information available and
views taken on the date on which they are made; such knowledge, information and views may change at any time. Santander does not
undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or
otherwise.
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 the 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.
Note: Statements as to historical performance or financial accretion are not intended to mean that future performance, share price or future
earnings (including earnings per share) for any period will necessarily match or exceed those of any prior year. Nothing in this presentation
should be construed as a profit forecast.
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 my differ materially from those of such subsidiaries.

3. 3
Index
■ Group performance 2013
— Highlights
— Results
■ Performance by business area 2013
■ Outlook
■ Appendix

4. 4
2013 Highlights
STRONGER BALANCE SHEET
VOLUMES reflect environment
and strategy
Loans: -2% Deposits: 0%
Mutual funds:+14%
Further LIQUIDITY improvement
LTD: 109% (-4 p.p. in 2013)
Granular and quality
LOAN portfolio
2013 effort: 1.5% cost of credit
NPL coverage > European banks' average
Strong CAPITAL generation
Core capital: 11.71% (+138 b.p. in 2013 )
SHARP P&L RECOVERY
PROFIT growth
due to less need for provisions
Attributable profit 2013: EUR 4,370 mn.
(+90% / 2012)
Improved basic trends in 20131
Stable commercial revenues
and lower provisions
Note: volumes – year-on-year change excluding exchange rate impact and repos
(1) In constant euros

5. 5
1
Volumes reflect management strategy adapted to different environments
Var. Dec’13 / Dec’12 (1)
Mature markets
+6%
Emerging markets2
+14%
+14%
Grupo Santander
+14%
+20%
+0.1%
-6%
Loans
-2%
-3%
Deposits
Mutual
funds
Loans
Deposits
Mutual
funds
Loans
 Mature markets: deleveraging and focusing on cost of liabilities
 Emerging markets: higher and balanced growth
(1) Year-on-year change excluding exchange rate impact and repos
(2) Excluding Kredyt Bank perimeter effect: +8% in loans and +7% in deposits
Deposits
Mutual
funds

6. 6
2
Liquidity position further improved in the year
Liquidity generated by businesses
Sharp improvement in LTD ratio
Reduction of commercial gap1
Net loan-to-deposit ratio
150%
135%
-EUR 30 bn.
117%
-EUR 23 bn.
2012
2013
+EUR 149 bn. of liquidity
generated in five years (2008-13)
(1) Difference net loans/deposits
D'08
D'09
117%
113%
109%
D'10
D'11
D'12
D'13
Mainly by Spain:
87% Dec’13 (157% Dec’08)

7. 3
7
High provisions maintained in 2013, allowing balance sheet provisions
to continue to increase ...
Group provisions*
EUR billion
2.38
1.56
1.29
1.29
11.0
11.6
12.2
2009
2010
2011
1.53
18.8
0.99
Cost of
credit (%)
11.1
7.1
2008
2012
2013
(*) Loan-loss provisions (before release of generic ones) and real estate in Spain
Note: Cost credit = 12 month loan-loss provisions / average lending, calculated in current euros
… although
we are already
on the way to normalising
the cost of credit

8. 8
4
Strong capital generation: +138 b.p. in the year
Core capital ratio BIS II
+413 b.p.
10.02%
8.61%
11.71%
10.33%
8.80%
7.58%
+138 b.p.
in the year
Dec'08
Dec'09
Dec'10
Core capital BIS III: 10.9%
Note: BIS III ratio based on current understanding of the rules
Dec'11
Dec'12
Dec'13
CRD IV leverage ratio: 4.9%

9. 9
5
Strong year-on-year profit growth due to lower provisions
Full year attributable profit
Quarterly attributable profit
EUR million
EUR million
4,370
+90%
+3% excl.
exchange rate
1,205
2,295
1,050 1,055 1,060
423
122
3Q'12
4Q
1Q'13
2Q
3Q
4Q
2012
2013

10. Grupo Santander results 2013
10
Good quarterly performance (excluding fx impact) with profit growth due to
higher commercial revenues and lower provisions
2013
EUR million
Var. / 2012
%
%*
4Q’13
Var. / 3Q’13
%
%*
NII + fee income
35,696
-11.2
-5.0
8,658
0.5
1.8
Gross income
39,753
-8.4
-2.2
9,405
-3.4
-2.0
-19,843
-0.7
4.9
-4,985
2.5
3.7
19,909
-15.0
-8.4
4,420
-9.4
-7.6
-10,863
-14.1
-7.8
-2,279
-12.3
-10.8
PBT
7,262
-14.4
-6.7
1,779
0.8
3.0
Attributable profit
4,370
90.5
136.8
1,060
0.4
2.7
Operating expenses
Net operating income
Loan-loss provisions
Note: in 2013: EUR 939 mn. in capital gains and EUR 939 mn. in provisions. In 2012: EUR 1,064 mn. in capital gains and EUR 4,111 mn. in provisions
(*) Excluding exchange rate impact

11. 11
Capital gains and provisions
EUR million
669
5,309
496
193
270
210
4,370
939
2013
Ordinary
attributable
profit
Insurance
(AEGON)
Santander AM
40
4,370
Goodwill
2013
Accounting
attributable
profit
939
TOTAL
Restructuring
costs
Homogenize
Balance
portfolios in
sheet
Spain
strengthening
(integration)

12. 12
Exchange rates had a sharp impact on GROSS INCOME.
In 4Q’13, basic revenues rose 1.8% over 3Q1 and trading gains declined
Group – Gross income
10,359 10,446
Net interest income + Fee income
Constant EUR million
9,977
9,875
9,923
10,037 9,995
9,798
10,713
5,317
10,283 10,290 10,320
9,738
5,427
4,630
11,287 11,123
4,564
5,379
5,402
Emerging markets
5,278 5,304 5,247 5,437
9,405
Mature markets
4,462
4,265
4,139
1Q'12
2Q
3Q
4Q
EUR million
(1) Excluding exchange rate impact
1Q'13
2Q
Constant EUR million
3Q
4Q
1Q'12
2Q
3Q
4Q
1Q'13
4,206
4,163
4,207
2Q
3Q
4Q

13. 13
Group COSTS reflect different performances by unit
Group costs
2013/12 change by main unit
%
4,701
4,687
4,771
4,756
4,857
4,885
4,958
Costs (1) Inflation (2)
5,142
Spain
1Q'12
2Q
3Q
EUR million
4Q
1Q'13
2Q
4,862
3Q
Constant EUR million
(1) Excluding exchange rate impact
(2) Average inflation
4,985
4Q
0.9
1.1
1.4
1.5
2.7
3.9
6.2
9.9
3.8
Chile
5,000
-5.7
Mexico
4,996
0.5
Brazil
4,939
-2.2
UK
5,067
Portugal
SCF
4,934
1.4
Poland (excl. perimeter)
5,043
-1.4
5.5
1.8
USA
10.1
1.7
Better than
inflation
Franchise
development
Rebranding,
regulation…

14. 14
Grupo Santander credit quality
Coverage ratio (%)
NPL ratio (%)
70
61
3.98
4.11
4.34
M'12
J'12
S'12
4.54
4.76
D'12
M'13
5.18
(1)
J'13
5.43
D'13
71
66
64
64
62
J'13
S'13
D'13
5.64
S'13
72
 Upward trend due to Spain,
with sharp impact on denominator.
 In 4Q’13, 7 out of 10 core countries
had stable or declining NPL ratios.
(1) Including reclassification of substandard loans in Spain
M'12
J'12
S'12
D'12
M'13
 High coverage ratio thanks to
effort made in recent years.
 Above European banks' average.

15. 15
NPL ratio by unit (%)
Brazil
6.86
Net loans to customers
Chile 4%
Mexico 3%
Other LatAm
3%
D'12
6.90
M'13
Spain
24%
6.49
J'13
Sharp reduction in NPL ratio
in the year
6.12
S'13
5.64
D'13
UK
Brazil 10%
USA
6%
Portugal 4%
2.05
2.03
2.01
1.98
1.98
D'12
M'13
J'13
S'13
Good performance of
retail and corporate loans
D'13
Poland 2%
UK
34%
Germany 4%
Run-off real
estate 1%
Other Europe
5%
Spain
7.49
5.75
3.84
(1) Including reclassification of substandard loans.
4.12
D'12
M'13
6.40
J'13
(1)
S'13
D'13
Higher NPLs due to
reduction of loan portfolio,
reclassification (June)
and companies

16. 16
Sustained improvement of cost of credit due to
general reduction of provisions
Provisions
Cost of credit (%)
EUR million
3,157
2,825
2,782
2,780
3,021
2,794
2,975
2,693
2,402
2.20
2,230
2.38
2.38
2.05
1.91
1,130
1.77
1.53
1.51
3,118 3,401 2,987
1Q'12
2Q
3Q
3,134 2,919
4Q
1Q'13
3,065
2Q
2,600 2,279
3Q
Real estate provisions in Spain
Net loan-loss provisions
Net loan-loss provisions (Constant EUR million)
4Q
1Q'12
2Q
3Q
4Q
1Q'13
2Q
3Q
4Q

17. 17
Index
■ Group performance 2013
—
Highlights
— Results
■ Performance by business area 2013
■ Outlook
■ Appendix

18. Business areas 2013
18
High diversification by country in profit generation
Ordinary attributable profit
by country in 2013
Portugal, 2% Poland, 6%
Spain, 7%
Germany, 6%
Other
Europe, 5%
Brazil, 23%
UK, 17%
Mexico, 10%
USA, 10%
Chile, 6%
Other LatAm,
8%
Percentage over operating areas ordinary attributable profit

19. Spain
19
Activity
Volumes1
P&L
Cost of new term deposits
EUR million
4Q’13 %3Q’13
2013
%2012
1,656
-6%
7,020
-9%
Expenses
-906
-5%
-3,769
-1%
LLPs
-575
-9%
-2,411
-3%
111
+51%
478
-45%
Var. Dec’13 / Dec’12
+29%
Gross income
3.05%
2.04%
-8%
Loans
-3%
Deposits
1.54% 1.41% 1.36%
Mutual
funds
Attributable profit
4Q'12 1Q'13 2Q'13 3Q'13 4Q'13
 Market share gain in customer funds consistent with sharp drop in cost of deposits.
 In 4Q, higher NII (+3%). Revenues impacted by trading gains (wholesale business).
 Costs reflected the first savings from network integration.
 Provisions in line with cost of credit target.
(1) Excluding repos

20. Spain
20
Gross loans
Deposits
EUR billion
EUR billion
TOTAL
TOTAL
182
170
166
Retail commercial paper
185
53
Other loans to
individuals
13
Companies
89
Repos
Public sector
51
50
12
Time deposits
91
84
13
84
3 7
Demand deposits
Household
mortgages
Repos
LTD Spain:
87%
83
10
17
6
17
7
13
Dec'12
Sep'13
Dec'13
 Amortisation of suppliers' plan in 4Q
(-EUR 4bn).
 Corporate lending reflects deleveraging
and greater access to markets.
 Initiatives to boost investment:
Plan 10.000, EIB and ICO.
Dec'13
 Greater focus on profitability. In 3Q and 4Q:
– outflow of expensive institutional deposits
– balances transferred to mutual funds.
 Retail funds rose in the year (+EUR 10 bn.).

21. Spain. NPL ratio and entries
21
NPL entries1 > 90 days
NPL and coverage ratios (%)
Base 100: 2008
50
50
45
43
44
Companies w/o real estate purpose
Coverage
ratio
100
NPL ratio
4.12
Mar'13
179
193
78
71
6.40
5.75
Dec'12
170
Mortgages to individuals
7.49
3.84
123
142
100
(2)
Jun'13
Sep'13
102
74
83
Dec' 13
Individuals Cards + Consumer loans
 NPL ratio impacted by deleveraging and
reclassification (June) of substandard
operations.
 Some worsening in the companies portfolio.
(1) Gross NPL entries by date (before recoveries).
(2) Including reclassification of substandard transactions.
100
97
53
2008
2009
44
42
35
2010
2011
2012
2013

22. Portugal
22
Activity
P&L
EUR million
Volumes1
Cost of new term deposits
Var. Dec’13 / Dec’12
-1%
/ 3Q’13
0%
/ 3Q’13
4Q’13 %3Q’13
Gross income
2.56%
-4%
Deposits
4Q'12
224
-2%
916
-12%
-126
+3%
-495
-2%
LLPs
-11
-81%
-192
-51%
Attributable profit
37
+17%
114
-6%
Expenses
1.84%
Loans
1Q'13
2Q'13
3Q'13
1.70%
4Q'13
 Market share gain in the year and higher profit (+17%) in the quarter.
 Gross income stabilising due to lower deposit costs.
 Strict cost control maintained.
 Reduction of provisions for the fifth straight quarter.
(1) Excluding repos
%2012
2.51%
2.27%
-5%
2013

23. Poland
23
Activity
P&L
Constant EUR million
Stock deposit cost
Volumes1
4Q’13
%3Q’13
2013
%2012 %2012*
Var. Dec’13 / Dec’12
Gross income
326
-7%
1,331
+38%
0%
-160
+14%
-601
+42%
-6%
-39
+9%
-167
+49%
+14%
Net profit
96
-30%
447
+31%
+4%
Attrib. profit
72
-29%
334
+2%
Excluding perimeter
+1%
+73%
Loans
+1%
Expenses
3.19% 3.07%
2.51%
1.81% 1.69%
+69%
Deposits
LLPs
4Q'12 1Q'13 2Q'13 3Q'13 4Q'13
(*) Like-for-like perimeter based on local criteria
 Increased productivity and greater commercial activity (new products/services)
in the new merged bank (unified brand and customers).
 Volumes reflect lower deposits cost and growth in mutual funds (+12% / Dec’12).
 Profit growth in the year due to higher net interest income, lower costs and good
credit quality.
(1) Local currency. Excluding repos
-

24. Santander Consumer Finance – Continental Europe
Activity
P&L
EUR million
NII – Provisions / ATAs
Gross loans: EUR 58 bn.
% s/ total
Other
Poland
Italy
5 6
Germany
2.1%
4Q’13 %3Q’13
2.5% 2.4% 2.6%
2.3%
Gross income
2013
%2012
15
Nordic
countries
4Q'12
1Q'13
3.19%
3.26%
2Q'13
3Q'13
-5%
3,111
-1%
-353
+2%
-1,391
+1%
LLPs
53
759
Expenses
10
Spain 11
24
-105
-34%
-565
-25%
209
0%
794
+10%
4Q'13
Attrib. profit*
2013 / 2012 new lending:
NII
+1% SCF vs. -4% sector1
Prov. 1.08% 0.95% 0.73% 0.87% 0.58%
3.24% 3.28% 3.19%
 Market share gain1 in a still weak environment for consumer business.
 Profit rose 10% in the year helped by spread management, cost control and
good credit quality.
 Self-funding: very active in issues, securitisations and structured finance.
(1) Based on new car registrations in the footprint.
(*) Not including Santander Consumer UK profit, as it is recorded in Santander UK results. If included, 2013
attributable profit: EUR: 895 mn. (+9% y-o-y).

25. Spain run-off real estate
25
Total balance sheet
EUR billion
Coverage ratio
Net loans
Net foreclosures
Equity stakes
15.5
12.3
4.2
11.9
11.6
11.4
55%
10.8
49%
3.7
3.7
3.6
3.7
Buildings:
42%
3.6
10.6
7.3
Sep'12
6.8
6.5
6.2
5.7
Dec'12
Mar'13
Jun'13
Sep'13
Dec'13
Land:
63%
Loans
 Total real estate exposure dropped 12% in the last 12 months.
 Coverage ratio around 50%.
 2013 attributable profit: -EUR 635 mn. (-EUR 143 mn. in 4Q).
Foreclosures

26. United Kingdom
26
Activity
P&L
Sterling million
Volumes1
Banking NIM
4Q’13 %3Q’13
2013
%2012
1,100
+8%
4,144
+4%
Expenses
-547
+2%
-2,212
+1%
LLPs
-121
-8%
-493
-25%
Profit cont. op.
296
+14%
984
+27%
Attributable profit
301
+15%
976
+8%
Var. Dec’13 / Dec’12
Corporate
banking:
+13%
-4%
Loans
Gross income
C/A:
+75%
1.59%
1.71%
1.46%
-3%
Deposits
1.45%
1.27%
4Q'12
1Q'13
2Q'13
3Q'13
4Q'13
 Ongoing programme to transform our UK business, reflected in increased business and results.
 Progressive improvement in PAT for successive quarters; FY PAT from cont. operations: +27%.
 Net interest income in the quarter highest for last two years; funding costs declining.
 Expenses broadly flat and improved cost of credit.
(1) Local currency. Excluding repos

27. United Kingdom
27
Boosting retail customers …
1|2|3 World Customers
Million
… and corporate
Current accounts
£ billion
Corporate loans
Corporate loans / Total loans
£ billion
27.9
11%
+75%
x1.8
2.4
19.6
15.9
12.3
1│2│3
1.3
12%
Dec'12
Dec'13
22.1
7%
14.6
+13%
n.a.
Dec'10
Dec'12
Dec'13
Dec'10
Dec'12
Dec'13
 Additional 1.1 million 1|2|3 World customers.
 87% primary banking customers with 1|2|3 c/a.
 New products & capabilities: affluent (Select),
mortgages (Freedom), ...
Dec'10
Dec'12
Dec'13
Dec'10
 Diversification of the business: double digit
growth in loans and en deposits.
 New initiatives: online SME banking facility,
rollout of cash management tool and
international trade finance portal.

28. United States
28
Activity
P&L
US$ million
Var. Dec’13 / Dec’12
Var. Dec’13 / Dec’12
Large
companies:
+20%
Loans
2013 %2012
670
-1%
-457
+5%
31
n.m.
6
n.m.
188
-13%
961
-7%
 Santander Bank
121
0%
548
-8%
67
-31%
413
-5%
Expenses
LLPs
-3%
Deposits
Gross income
%3Q’13
Attributable profit
+140%
Retail:
+6%
+35%
-5%
4Q’13
SCUSA2
Santander Bank1
 SCUSA
Gross loans
2,863
-14%
-1,673 +10%
New loans
 Santander Bank: focus on building franchise
with impact on costs.
 Gross income: spread narrowing and decline
of earning assets. 4Q stable, with lower
funding costs.
 Provisions: sharp reduction due to improved
credit quality.
(1) Local currency. Excluding repos.
(2) Excluding contribution from Chrysler agreement: loans +13%; new loans +45%
 SCUSA: sharp volume and revenue
growth (accelerating due to Chrysler and
personal loans).
 Profit impacted by up-front provisions
policy.
 Market recognition of unit's value.

29. Brazil
29
Activity
P&L
Constant EUR million
NII – Provisions / ATAs
Volumes1
Var. Dec’13 / Dec’12
+2%
4.0%
+2%
/ 3Q’13
4Q’13
3.5% 3.5% 3.5% 3.7%
/ 3Q’13
Gross income 3.352
%3Q’13
2013 %2012
0%
13.565
-6%
Expenses
+7%
+6%
4Q'12
NII
Loans
Deposits
1Q'13
2Q'13
3Q'13
4Q'13
7.67%
7.29% 7.10% 6.56%
6.59%
-1.454
+8%
-5.346
+4%
LLPs
-1.086
-6%
-4.894
-9%
333
-14%
1.577
-18%
Attrib. profit
Prov. 3.71% 3.83% 3.59% 3.11% 2.88%
 Good commercial dynamics: loan growth exceed private sector banks, faster growth in
deposits.
 Higher net interest income + fee income in the quarter (+5%), backed by volumes.
 Costs below inflation. Efficiency plan.
 In 4Q, further reduction in provisions and improved net spread.
(1) Local currency. Excluding repos

30. Brazil
30
Net Interest Income
Credit quality
Loan spreads (%)
12.0
12.3
11.8
11.2
11.1
NPL ratio (%)
10.5
9.9
6.51
9.8
6.90
6.49
5.76
1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13
M'12
J'12
S'12
D'12
M'13
6.12
J'13
S'13
5.64
D'13
LLP and cost of credit
Lending portfolio
Constant EUR million
Var. Dec’13 / Dec’12
+32%
1,514
1,339
1,210
+17%
0%
Other 1
individuals
7.4%
+4%
6.1%
SMEs /
Companies
Large
companies
Total
Net interest income impacted by change
of mix towards lower risk products /
segments. Spreads returning to normal
(1) Other = Consumer, payrolls, automobile, cards, cheque and personal loans
1,308
1Q'12
1,360
1,297
1,152
+7%
Mortgages
6.86
6.79
6.6%
2Q'12
7.5%
6.9%
3Q'12
4Q'12
Net loan-loss provisions
1Q'13
7.1%
2Q'13
6.7%
3Q'13
Cost of credit
Further reduction in cost of credit,
with provisions at minimum levels
1,086
6.3%
4Q'13

31. Mexico
31
Activity
P&L
Constant EUR million
Volumes1
NII / ATAs
4Q’13 %3Q’13
Var. Dec’13 / Dec’12
%2012
/ 3Q’13
/ 3Q’13
4.37% 4.42%
3,040
+8%
Expenses
-332
+6%
-1,236
+10%
-227
-12%
-801
+72%
205
+23%
936
-12%
Attrib. profit2
4.19% 4.08%
-2%
Net profit
+2%
745
LLPs
+4%
Gross income
2013
157
+24%
713
-29%
3.85%
+12%
+4%
4Q'12
Loans
1Q'13
2Q'13
3Q'13
4Q'13
Deposits
 Strong volumes, market share gains (SMEs, mortgages, insurance and demand deposits).
 Gross income rose 8% y-o-y backed by commercial revenues (NII: +3% in 4Q).
 Costs rose due to expansion plan (90 branches opened in 2013; +8%).
 Year-on-year provisions impacted mainly by homebuilders and methodology change.
(1) Local currency. Excluding repos. On a like-for-like perimeter including commercial paper, deposits rose 12%
(2) Higher minority interests year-on-year after IPO.

32. Chile
32
Activity
P&L
Constant EUR million
Volumes1
Return
Var. Dec’13 / Dec’12
+3%
+2%
/ 3Q’13
4Q’13
/ 3Q’13
3.9%
UF
rate
3.9%
1.1%
%2012
4Q'12
4.4%
4.4%
606
+3%
2,261
+3%
-237
-1%
-937
+6%
-151
-3%
-597
+9%
126
+7%
435
-7%
Gross income
1.0%
0.1%
Loans
2013
Expenses
4.5%
+11%
+8%
%3Q’13
NII
SAN
1Q'13
2Q'13
0.9%
LLPs
3Q'13
4Q'13
Attrib. profit
-0.1%
Deposits
 Double-digit growth in loans (SMEs, companies and affluent clients) and better deposit
mix (demand: +10%).
 Higher gross income due to UF portfolios (higher inflation) and lower funding costs.
 Lower provisions in the quarter. Stable risk premium.
(1) Local currency. Excluding repos.

33. Other Latin American countries
33
Attributable profit
Constant EUR million
Argentina
Puerto Rico
Uruguay
Peru
333
263
77
55
2012
2013
2012
53
45
2013
2012
2013
 Focus on linkage, transactional business and target segments.
 Volumes and profit growing at double-digit rates for the whole region.
 Results underpinned by net interest income and fee income.
15
2012
19
2013

34. Corporate Activities
34
P&L
EUR million
2013
2012
Gross income
-953
-1,007
Expenses
-698
-530
Provisions,
tax and minority interests
-236
-588
-1,887
-2,125
Ordinary attributable profit
 Flat revenues: higher costs due to liquidity buffer, offset by results from exchange rates
differences and management of balance sheet structural risks.
 Provisions and other: high figures in 2012 due to goodwill in Italy, real estate, and
integration costs in Germany.

35. 35
Index
■ Group performance 2013
—
Highlights
— Results
■ Performance by business area 2013
■ Outlook
■ Appendix

36. In 2013 Santander completed the intense balance sheet strengthening
carried out during the crisis
TODAY
Comfortable LIQUIDITY position
Adequate CAPITAL for the
business model
PROVISIONS more than doubled
expected loss
Without restrictions to maximise opportunities as the cycle changes
36

37. 37
The year's results, still reflect the effort of balance sheet strengthening,
but show improved basic trends and profit
GROUP – OPERATING PROFIT
(Net operating income after provisions)
BASIC REVENUES
quarterly stability in 2013
in emerging and mature markets
% / same quarter 2012
Constant euros
+7.4%
COSTS
6 units below inflation and
efficiency improvement plans
-3.3%
-19.8%
Loan-loss PROVISIONS and cost of
credit declined, reflecting the end of
the balance sheet cycle
-16.3%
1Q'13
Current
euros
2Q'13
3Q'13
4Q'13
-24.0%
-19.1%
-14.4%
-3.1%

38. 38
In the coming years we expect a more favourable business environment
Stronger economic growth
Greater financial stability
IMF- 2014 GDP
Due to widespread recovery
Spain
Portugal
Germany
+0.6%
–
Eurozone, including Spain and
Portugal
–
UK, USA: leading mature markets
–
Latam: sound economies
+0.8%
+1.6%
Poland
+2.4%
UK
+2.4%
USA
Brazil
Mexico
+2.3%
+3.0%
+4.5%
Chile
Argentina
2013 average.: +1.6%
Greater stability and better access
to markets
+2.8%
+2.8%
Average: +2.4%
Progress towards European
Banking Union

39. 39
Moreover, in Santander we have defined plans to improve profitability
1
Better capital
allocation
Segmentation
via profitability /
potential
3
2
Commercial
transformation
Improving
profitability
Maximize Group's
global presence
Global use of
best practices
Increase linkage
4
Efficiency and
productivity plan
Adapt costs
and processes

40. 40
Ongoing plans to improve profitability
Improve capital allocation
1
All businesses and
segments are under
review
Establish priorities
according to risk and
expected profitability
Greater emphasis on
profitability by segment
INCREASE
CAPITAL
ALLOCATION
Restructure to
improve
profitability.
Then grow
Analysis by
segment

41. 41
Ongoing plans to improve profitability
Retail model transformation
2
Faster and more
effective product
approval
Successful examples



Card approvals
UK insurance
SAN Private Bkg.
account opening
Improve
authorisation and
pre-classification
Involvement of
front-middle-back
offices
More efficient and
customer adapted
Successful examples
Commercial
processes
Multichanneling

Linkage and
satisfaction of
103 million
customers
Risks

Human
Resources
US mobile banking
and ATMs
Poland: weight of
non-branch channels
Employee-driven
business initiatives
Incentives more in
line with P&L and
quality

42. 42
Ongoing plans to improve profitability
Maximize the Group's global presence
3
GLOBAL UNITS
EXAMPLES UNDERWAY
NEW
NEW
Retail Banking
Division
Global Recoveries
Division
Other Global
Businesses
SELECT
International business
(affluent individuals)
(SMEs)
Corporate
Support areas
Entidades
fomento
Otras
entidades
Embajadas
RED
LOCAL
CONTACTOS
Asesores
de
Empresas
Cámaras de
Comercio
Application of best commercial
practices and processes
Increase “collaboration revenues”
Transform branches
with multichannel focus
Global focus
for Human Resources

43. 43
Ongoing plans to improve profitability
4
2014-16 efficiency and productivity plan: cost savings EUR 1,500 mn.
EUR million
2014-2016 savings by origin
1,100
2014-2016 accumulated savings
1,500
1,500
1,500
1,500
1,250
750
400
Merger Efficiency
synergies
plan
Expected
savings
2014
2015
2016

44. 44
These plans include specific
projects and targets by unit
The aim is to maximize the Group's potential in
a new cycle of increased profit and profitability

45. 45
Index
■ Group performance 2013
—
Highlights
— Results
■ Performance by business area 2013
■ Outlook
■ Appendix

46. 46
Appendix
Group balance sheet
Liquidity and funding
Secondary segment results
NPL, coverage ratios and cost of credit
Spreads
Quarterly income statements

47. 47
Group
balance sheet

48. Highlights of the Group balance sheet
48
Retail balance sheet, appropriate for a low risk business model,
liquid and well capitalised
Balance sheet at December 2013
1
Lending: 60% of balance sheet
EUR billion
2
1,116
Cash and credit
institutions
Derivatives
AFS portfolio
Trading portfolio
168
67
69
46
97
Other*
1,116
2
3
4
5
6
Credit
institutions
110
Derivatives
Other
80
31
Customer
Deposits
Loans to
customers
669
611
1
4
5
Issues and
subordinated
liabilities
188
Shareholders’ equity
& fixed liabilities
Assets
3
96
Liabilities
6
Cash, central banks and credit
institutions: 15%
Derivatives (with counterparty
on the liabilities side): 6% of
balance sheet
Available for sale portfolio
(AFS): 6%
Trading portfolio: 4%
Other (goodwill, fixed assets,
accruals): 9%
(*) Other assets: Goodwill EUR 23 bn., tangible and intangible assets EUR 17 bn., other capital instruments
at fair value EUR 1 bn., accruals and other accounts EUR 55 bn.

49. 49
Liquidity and
funding

50. 50
Liquidity and funding
Well-funded balance sheet with high structural liquidity surplus
December 2013. EUR billion
Santander Group liquidity balance sheet
Net loans to
customers
611
669
Financial
assets
Commercial Gap: EUR 57.5 bn.
(-EUR 23 bn. / Dec’12)
51
Fixed assets
& other
Deposits
Securitisations
81
133
M/L term funding
165
105
Structural liquidity1 surplus:
EUR 150 billion (16% net liabilities)
Equity (80) and
other (25)
ST funding
15
Assets
Liabilities
Note: Liquidity balance sheet for management purposes (net of trading derivatives and interbank balances). Provisional
(1) Financial assets – short term wholesale funding markets

51. 51
Liquidity and funding
The effort made in recent years is reflected in enhanced monitoring metrics
Monitoring metrics. Santander Group
2008
2009
2010
2011
2012
Dec’13
79%
79%
75%
77%
74%
73%
Net loan-to-deposit
ratio (LTD)
150%
135%
117%
117%
113%
109%
Customer deposits
and medium- to long-term
financing over net loans
104%
106%
115%
113%
118%
119%
Short term wholesale funding
over net liabilities*
7%
5%
3%
2%
2%
2%
Structural liquidity surplus
(% over net liabilities*)
4%
8%
14%
13%
16%
16%
Net loans
over net assets*
(*) Balance sheet for liquidity management purposes (net of trading derivatives and interbank balances)

52. 52
Liquidity and funding
Adequate liquidity structure of stand-alone units
December 2013
Main units and liquidity ratios
LTD ratio
(net loans / deposits)
Spain
Deposits + M/L term funding /
net loans
87%
158%
Portugal
101%
108%
Santander Consumer Finance
181%
73%
88%
117%
UK
123%
110%
Brazil
108%
123%
90%
118%
137%
96%
87%
116%
USA
106%
116%
Group Total
109%
119%
Poland
Mexico
Chile
Argentina

53. 53
Liquidity and funding
Liquidity generation by Group businesses
enabled Santander to reduce recourse to wholesale funding
December 2013
Issuance (EUR bn.)
Total
Diversified issuances 2013
43
29
M/L term issuance
31
23
Securitisations1
12
2012
6
2013
(1) Placed in the market and including structured finance
US$
area,
27%
Sterling
area,
25%
Euro
area,
48%

54. 54
Secondary segment
results

55. Retail Banking
55
Activity1
P&L
EUR billion
EUR million
Loans
Deposits
4Q’13 %3Q’13
-1%*
-5%*
534
Gross income
8,301
-1%
2013
%2012
34,790
-9%
-2%
527
Costs
599
Dec'12
Dec'13
Dec'12
(*) -1% excluding FX impact
-4,264
+3% -16,917
LLPs
631
-2,089
+1%
-9,448
-20%
1,140
-13%
5,077
-14%
Attrib. profit
Dec'13
(*) +2% excluding FX impact
Gross income
EUR million
9,826
 Sharp exchange rate impact in recent
quarters.
9,783
9,640
9,077
9,018
9,055
8,415
8,301
 Excluding this impact:
- Stable net interest income + fee
income, +1% increase in 4Q.
- Costs below inflation.
1Q'12
2Q
(1) Excluding repos
3Q
4Q
1Q'13
2Q
3Q
4Q
- Provisions still high.

56. Santander Consumer Finance Total. 2013
56
Includes Continental Europe, United Kingdom and USA
Gross loans (Dec’13): EUR 81 bn.
Basic data
EUR billion
31 in
Top
12 countries
14
Countries
61
Agreements with manufacturers
for "captive" financing
14.3
Million customers
155,000
Dealers-participants
80,517
EUR million in loans2
30,878
EUR million in deposits
1,206
EUR million in 2013
attributable profit
Continental
Europe
UK
USA
58
5
18
Attributable profit 2013: EUR 1,206 mn.
EUR million
(1) Market share of new car financing and/or durable goods loans
Continental
Europe
UK
USA
794
101
311

57. Global Wholesale Banking (GBM)
57
Gross income
P&L
EUR million
EUR million
TOTAL
Trading and capital
5.176
586
-1%*
+16%
5.148
4Q’13 %3Q’13
2013
%2012
1,230
-7%
5,148
-1%
Costs
-421
-3%
-1,736
-2%
LLPs
-161
-66%
393
+60%
679
Gross income
Markets
Credit
Corporate finance
1,798
825
97
Global Transaction
Services 1,871
-3%
1,742
+1%
-17%
833
80
-3%
Customer
revenues; -3%*
1,814
2012
Attrib. profit
-952 +127%
1,503
-21%
2013
(*) Excluding FX impact: total revenues 2013/2012: +5%; customer revenues +1%
TOTAL
 Exchange rate impact in recent quarters.
1,538
Trading and
capital
1,277
Customers 1,336
1Q'12
1,176 1,184
1,379
1,220
1,229
1,137
1,088
1,029
2Q
3Q
4Q
1,319
1,230
1,043
1Q'13
1,135
1,061
2Q
3Q
4Q
 Gross income growth over 2012 in
constant euros (+5%).
 Sharp drop in provisions in 4Q, after
impact in 3Q of Spain and Mexico
(homebuilders).

58. Asset Management and Insurance
58
Total revenues for the Group*
P&L
EUR million
EUR million
-3%2
TOTAL
4Q’13 %3Q’13
3,973
3,839
-4%
+5%
763
-15%
Costs
2,641
189
-85
+7%
-318
+4%
-
-
-
-
66
-8%
313
-22%
LLPs
Asset
management
1,230
1,198
-3%
2012
%2012
Gross income
Insurance
2,743
2013
Attributable profit
2013
(2) At constant perimeter and FX rates: Total +3%; Insurance+4%; Asset Mgmt.+2%
TOTAL 1,061
991
942
981
639
665
991
978
 Impacted by FX and reduction in
perimeter due to strategic agreements.
917
953
613
652
Insurance
751
Asset
management
689
702
674
 Strategic agreements: to increase
potential and value the business.
310
302
303
316
289
304
304
301
1Q'12
2Q
3Q
4Q
1Q'13
2Q
3Q
4Q
(*) Including fees paid to the Group retail networks
 Large contribution to total revenues
(+9% of operating areas total).
- Around EUR 2 bn. net capital gains
generated for the Group (2011-13).

59. 59
NPL, coverage ratios and
cost of credit

60. 60
NPL ratios
%
31.03.12
30.06.12
30.09.12
31.12.12
31.03.13
30.06.13
30.09.13
31.12.13
5.41
5.67
6.07
6.29
6.62
7.83
8.48
9.13
Spain
3.35
3.26
3.64
3.84
4.12
5.75
6.40
7.49
Portugal
4.59
5.42
6.16
6.56
6.88
7.41
7.86
8.12
Poland
4.74
4.93
4.69
4.72
7.39
8.08
7.75
7.84
Santander Consumer Finance
4.05
3.88
3.96
3.90
3.98
4.04
3.96
4.01
United Kingdom
1.82
1.83
1.94
2.05
2.03
2.01
1.98
1.98
Latin America
4.67
5.14
5.31
5.42
5.44
5.26
5.32
5.03
Brazil
5.76
6.51
6.79
6.86
6.90
6.49
6.12
5.64
Mexico
1.61
1.64
1.69
1.94
1.92
2.20
3.58
3.66
Chile
4.52
4.65
5.00
5.17
5.51
5.81
6.00
5.91
USA
2.46
2.27
2.31
2.29
2.23
2.22
2.26
2.23
Operating Areas
3.95
4.09
4.33
4.53
4.71
5.16
5.42
5.64
Total Group
3.98
4.11
4.34
4.54
4.76
5.18
5.43
5.64
Continental Europe

61. 61
NPL coverage ratios
%
31.03.12
30.06.12
30.09.12
31.12.12
31.03.13
30.06.13
30.09.13
31.12.13
54.1
58.9
68.4
73.0
71.0
63.3
61.1
57.3
Spain
49.4
43.6
45.7
50.0
50.3
43.1
45.0
44.0
Portugal
57.6
53.4
51.7
53.1
52.9
52.4
51.9
50.0
Poland
66.3
62.1
64.0
68.3
67.6
59.3
64.1
61.8
Santander Consumer Finance
108.3
110.7
109.7
109.5
108.7
106.9
109.2
105.3
United Kingdom
37.5
37.5
44.8
44.1
42.1
42.1
41.6
41.6
Latin America
91.6
89.5
89.8
87.5
86.7
85.4
82.9
84.6
Brazil
90.0
90.1
92.0
90.2
90.4
91.3
92.0
95.1
Mexico
194.9
183.4
175.4
157.3
157.1
142.7
99.0
97.5
Chile
68.3
64.0
60.8
57.7
53.9
49.9
49.7
51.1
USA
107.4
113.3
109.7
105.9
102.8
102.8
96.6
93.6
Operating Areas
62.1
64.8
71.3
73.3
71.8
66.3
64.0
61.3
Total Group
61.2
64.3
69.5
72.4
70.9
66.4
63.9
61.7
Continental Europe

62. 62
Cost of credit
%
31.03.12
30.06.12
30.09.12
31.12.12
31.03.13
30.06.13
30.09.13
31.12.13
1.28
2.13
2.77
3.16
3.13
2.33
1.71
1.23
Spain
1.23
1.37
1.34
1.34
1.23
1.26
1.36
1.38
Portugal
1.04
1.23
1.45
1.40
1.18
1.10
0.93
0.73
Poland
0.95
1.05
1.07
1.17
1.22
1.18
1.09
1.01
Santander Consumer Finance
1.41
1.41
1.33
1.27
1.26
1.15
1.13
0.96
United Kingdom
0.28
0.29
0.29
0.30
0.29
0.26
0.26
0.24
Latin America
4.16
4.45
4.56
4.93
4.96
4.77
4.63
4.43
Brazil
6.13
6.61
6.86
7.38
7.46
7.07
6.72
6.34
Mexico
1.87
1.86
1.96
2.23
2.46
2.73
3.27
3.47
Chile
1.59
1.67
1.74
1.90
1.95
2.00
1.96
1.92
USA
1.08
0.86
0.76
0.61
0.51
0.34
0.19
(0.01)
Operating Areas
1.49
1.89
2.20
2.42
2.41
2.05
1.73
1.48
Total Group
1.51
1.91
2.20
2.38
2.38
2.05
1.77
1.53
Continental Europe
Cost of credit = 12 month loan-loss provisions / average lending

63. Spain run-off real estate. Exposure and coverage ratios
Coverage by borrowers' situation
(December 2013)
63
Total coverage
(problematic assets + performing loans)
provisions / exposure (%)
EUR Million
52%
Gross risk
Coverage
Fund
Net risk
Total real estate
exposure
Non-performing
8,116
4,602
3,514
Substandard1
2,815
1,018
1,797
Foreclosed real estate
7,990
4,390
3,600
Non-performing
57%
Total problematic assets 18,921
10,010
8,911
Substandard1
36%
424
0
424
Foreclosed real estate
55%
Total problematic assets
53%
19,345
10,010
9,335
Performing loans2
Real estate exposure
(1) 100% up-to-date with payments
(2) Performing loans: loans up-to-date with payments
Dec'13
Performing loans2
0%

64. 64
Spain run-off real estate. Loans and foreclosures
LOANS with real estate purpose
Foreclosed REAL ESTATE
EUR Million
EUR Million
Gross
amount
Dec’13
Dec’12
4,673
6,218
-1,545

Finished buildings
614
1,289
-675

Buildings under constr.
Var.
Coverage
Net
amount
2,343
40%
1,397
733
47%
391

Finished buildings

Buildings under constr.

Developed land
3,124
3,861
-737

Developed land
2,114
60%
840

Building and other land
1,116
1,210
-94

Building land
2,727
65%
945

Non mortgage guarantee 1,828
2,072
-244

Other land
73
63%
27

Total
14,650
-3,295

Total
7,990
55%
3,600
11,355

65. 65
Spreads

66. 66
Spreads on loans and deposits
%
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
Retail Banking Spain
Loan spreads
Deposit spreads
TOTAL
1.60
1.64
3.24
1.59
1.68
3.27
1.64
1.44
3.08
1.81
0.81
2.62
2.21
0.16
2.37
2.26
0.28
2.54
2.33
0.15
2.48
2.43
0.20
2.63
Retail Banking Portugal
Loan spreads
Deposit spreads
TOTAL
2.34
(0.91)
1.43
2.39
(0.96)
1.43
2.47
(1.13)
1.34
2.47
(1.24)
1.23
2.44
(1.22)
1.22
2.44
(1.18)
1.26
2.44
(1.06)
1.38
2.42
(0.99)
1.43
Retail Banking Poland
Loan spreads
Deposit spreads
TOTAL
3.29
1.27
4.56
3.33
1.26
4.59
3.41
1.16
4.57
3.48
0.96
4.44
2.41
0.73
3.14
2.45
0.72
3.17
2.43
0.73
3.16
2.53
0.98
3.51
Santander Consumer Finance
Loan spreads
4.51
4.57
4.67
4.73
4.76
4.83
4.93
4.91
Retail Banking United Kingdom
Loan spreads
Deposit spreads
TOTAL
2.49
(1.02)
1.47
2.54
(1.18)
1.36
2.60
(1.26)
1.34
2.66
(1.27)
1.39
2.78
(1.25)
1.53
2.80
(1.17)
1.63
2.85
(1.00)
1.85
2.84
(0.86)
1.98

67. 67
Spreads on loans and deposits
%
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
Retail Banking Brazil
Loan spreads
Deposit spreads
TOTAL
14.44
0.73
15.17
14.84
0.65
15.49
14.25
0.56
14.81
13.41
0.51
13.92
13.09
0.72
13.81
12.51
0.75
13.26
11.93
0.84
12.77
11.82
0.95
12.77
Retail Banking Mexico
Loan spreads
Deposit spreads
TOTAL
8.20
1.96
10.16
8.35
1.92
10.27
8.33
1.93
10.26
8.49
2.00
10.49
8.46
1.86
10.32
8.41
1.64
10.05
8.34
1.56
9.90
8.23
1.51
9.74
Retail Banking Chile
Loan spreads
Deposit spreads
TOTAL
4.56
2.45
7.01
4.62
2.36
6.98
4.48
2.36
6.84
4.36
2.25
6.61
4.31
2.39
6.70
4.27
2.47
6.74
4.01
2.42
6.43
3.98
2.31
6.29
Retail Banking USA
Loan spreads
Deposit spreads
TOTAL
2.36
0.46
2.82
2.45
0.41
2.86
2.37
0.37
2.74
2.39
0.29
2.68
2.51
0.34
2.85
2.52
0.33
2.85
2.52
0.57
3.09
2.49
0.41
2.90

68. 68
Quarterly
Income Statements

69. 69
Santander Group
EUR million
1Q 12
2Q 13
3Q 13
4Q 13
2012
2013
Gross income
11,287 11,123 10,713 10,283 10,290 10,320
9,738
9,405
43,406
39,753
Operating expenses
(5,043) (4,934) (5,067) (4,939) (4,996) (5,000) (4,862) (4,985)
Net operating income
Net loan-loss provisions
6,244
2Q 12
6,188
3Q 12
5,646
4Q 12
5,344
1Q 13
5,294
5,320
4,876
4,420
(3,118) (3,401) (2,987) (3,134) (2,919) (3,065) (2,600) (2,279)
(19,983) (19,843)
23,422
19,909
(12,640) (10,863)
Other
(570)
(478)
(556)
(697)
(372)
(542)
(510)
(361)
(2,301)
(1,785)
Ordinary profit before taxes
2,556
2,309
2,103
1,512
2,003
1,713
1,766
1,779
8,481
7,262
Ordinary consolidated profit
1,853
1,663
1,463
1,257
1,508
1,306
1,302
1,278
6,236
5,393
Ordinary attributable profit
1,627
1,427
1,264
1,024
1,205
1,050
1,055
1,060
5,341
4,370
Attributable profit
1,627
123
122
423
1,205
1,050
1,055
1,060
2,295
4,370

70. 70
Santander Group
Constant EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
Gross income
10,359 10,446
9,977
9,875
9,923 10,037
9,995
9,798
40,657
39,753
Operating expenses
(4,701) (4,687) (4,771) (4,756) (4,857) (4,885) (4,958) (5,142)
Net operating income
Net loan-loss provisions
5,658
5,759
5,206
5,120
5,066
5,152
5,036
4,655
(2,825) (3,157) (2,782) (3,021) (2,794) (2,975) (2,693) (2,402)
(18,915) (19,843)
21,743
19,909
(11,785) (10,863)
Other
(524)
(440)
(518)
(696)
(365)
(534)
(515)
(371)
(2,178)
(1,785)
Ordinary profit before taxes
2,308
2,163
1,906
1,402
1,907
1,644
1,828
1,883
7,779
7,262
Ordinary consolidated profit
1,669
1,554
1,317
1,166
1,435
1,252
1,350
1,357
5,707
5,393
Ordinary attributable profit
1,478
1,337
1,137
944
1,147
1,006
1,094
1,123
4,896
4,370
Attributable profit
1,478
33
(9)
343
1,147
1,006
1,094
1,123
1,845
4,370

71. 71
Continental Europe
EUR million
1Q 12
Gross income
Operating expenses
Net operating income
Net loan-loss provisions
Other
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
3,470
3,332
3,147
3,018
3,198
3,188
3,176
3,023
12,967
12,585
(1,618) (1,602) (1,625) (1,613) (1,668) (1,637) (1,630) (1,641)
(6,457)
(6,576)
1,853
1,730
(1,095) (1,087)
1,522
1,405
1,530
1,551
1,547
1,382
6,510
6,009
(866) (1,056)
(901)
(993)
(946)
(763)
(4,104)
(3,603)
(179)
(175)
(73)
(147)
(192)
(194)
(188)
(186)
(575)
(760)
Ordinary profit before taxes
579
469
583
202
437
363
413
433
1,832
1,646
Ordinary consolidated profit
436
365
432
181
336
293
321
314
1,413
1,264
Ordinary attributable profit
421
351
419
173
307
250
275
294
1,365
1,127
Attributable profit
421 (1,635) (1,048)
(484)
307
250
275
294
(2,745)
1,127

72. 72
Spain
EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
Gross income
2,043
1,961
1,919
1,758
1,815
1,794
1,755
1,656
7,681
7,020
Operating expenses
(969)
(954)
(963)
(937)
(962)
(951)
(950)
(906)
(3,823)
(3,769)
Net operating income
1,074
1,008
956
821
853
844
805
750
3,858
3,251
Net loan-loss provisions
(724)
(670)
(466)
(613)
(516)
(690)
(630)
(575)
(2,473)
(2,411)
Other
(55)
(46)
7
(34)
(36)
(29)
(59)
(12)
(128)
(136)
Profit before taxes
295
291
496
175
301
125
116
162
1,257
704
Consolidated profit
204
202
343
115
208
87
74
110
864
479
Attributable profit
202
201
342
116
207
86
73
111
862
478

73. 73
Portugal
EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
318
267
258
195
231
233
228
224
1,037
916
(126)
(126)
(126)
(128)
(124)
(122)
(123)
(126)
(507)
(495)
191
141
132
67
107
112
105
97
531
421
(131)
(91)
(106)
(65)
(64)
(62)
(56)
(11)
(393)
(192)
(16)
(5)
6
4
(13)
(17)
(6)
(42)
(11)
(78)
Profit before taxes
44
45
31
7
31
32
44
44
127
150
Consolidated profit
32
38
26
26
21
25
32
29
122
106
Attributable profit
32
38
26
26
21
25
32
37
122
114
Gross income
Operating expenses
Net operating income
Net loan-loss provisions
Other

74. 74
Poland
Constant EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
220
246
233
265
315
340
350
326
964
1,331
(106)
(105)
(105)
(108)
(156)
(144)
(140)
(160)
(424)
(601)
Net operating income
114
140
128
157
159
196
210
166
540
731
Net loan-loss provisions
(20)
(33)
(27)
(32)
(41)
(51)
(36)
(39)
(112)
(167)
2
(0)
0
(3)
(5)
6
(2)
(4)
(1)
(6)
Profit before taxes
96
108
102
122
112
150
172
122
427
557
Consolidated profit
75
88
81
97
90
123
137
96
340
447
Attributable profit
73
85
78
92
70
91
101
72
328
334
Gross income
Operating expenses
Other

75. 75
Santander Consumer Finance
EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
810
782
780
770
776
775
801
759
3,141
3,111
(338)
(337)
(347)
(360)
(351)
(341)
(345)
(353)
(1,381)
(1,391)
472
445
433
410
425
434
456
405
1,760
1,720
(176)
(199)
(174)
(204)
(171)
(131)
(158)
(105)
(753)
(565)
Other
(18)
(6)
(17)
1
(21)
(29)
(15)
(5)
(40)
(70)
Profit before taxes
278
240
242
207
233
274
283
295
967
1,085
Consolidated profit
216
186
190
167
184
210
217
213
759
824
Attributable profit
206
176
181
162
176
201
208
209
724
794
Gross income
Operating expenses
Net operating income
Net loan-loss provisions

76. 76
United Kingdom
GBP million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
Gross income
1,088
1,006
936
948
973
1,048
1,022
1,100
3,977
4,144
Operating expenses
(552)
(558)
(546)
(524)
(560)
(567)
(538)
(547)
(2,180)
(2,212)
535
448
390
423
413
481
484
553
1,797
1,932
(172)
(173)
(147)
(161)
(137)
(103)
(132)
(121)
(654)
(493)
Other
(53)
(32)
(24)
(27)
(35)
(87)
(22)
(55)
(135)
(200)
Ordinary profit before taxes
311
244
218
236
241
291
330
377
1,008
1,239
Ordinary consolidated profit
243
198
190
207
191
224
261
301
838
976
Ordinary attributable profit
243
198
190
207
191
224
261
301
838
976
Attributable profit
243
198
256
207
191
224
261
301
904
976
Net operating income
Net loan-loss provisions

77. 77
United States
USD million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
869
868
803
805
803
717
674
670
3,345
2,863
(365)
(381)
(380)
(393)
(392)
(390)
(434)
(457)
(1,519)
(1,673)
Net operating income
505
487
423
411
411
326
240
213
1,826
1,190
Net loan-loss provisions
(93)
(101)
(65)
(81)
(36)
(6)
17
31
(340)
6
Other
(25)
(35)
(180)
1
(11)
(12)
(36)
(27)
(240)
(86)
Profit before taxes
387
350
178
331
365
308
221
217
1,246
1,110
Consolidated profit
312
275
155
292
307
248
217
188
1,034
961
Attributable profit
312
275
155
292
307
248
217
188
1,034
961
Gross income
Operating expenses

78. 78
Brazil
Constant EUR million
1Q 12
Gross income
Operating expenses
Net operating income
Net loan-loss provisions
Other
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
3,535
3,743
3,683
3,528
3,504
3,366
3,343
3,352
14,488
13,565
(1,248) (1,243) (1,301) (1,355) (1,262) (1,285) (1,345) (1,454)
(5,147)
(5,346)
1,898
9,341
8,219
(1,210) (1,514) (1,339) (1,308) (1,360) (1,297) (1,152) (1,086)
(5,371)
(4,894)
2,287
2,500
2,382
2,173
2,242
2,081
1,998
(181)
(215)
(213)
(102)
(72)
(125)
(131)
(171)
(711)
(500)
Profit before taxes
896
771
829
763
810
660
715
641
3,259
2,826
Consolidated profit
666
574
591
605
604
499
506
435
2,437
2,044
Attributable profit
521
442
473
484
461
397
386
333
1,919
1,577

79. 79
Mexico
Constant EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
680
662
723
743
764
767
764
745
2,808
3,040
(252)
(257)
(289)
(328)
(297)
(295)
(313)
(332)
(1,126)
(1,236)
Net operating income
428
405
434
415
467
473
451
413
1,682
1,804
Net loan-loss provisions
(78)
(103)
(127)
(157)
(140)
(177)
(257)
(227)
(465)
(801)
(2)
30
6
22
25
(2)
(3)
(3)
55
17
Profit before taxes
348
332
313
280
352
294
191
182
1,272
1,020
Consolidated profit
296
266
266
237
311
252
167
205
1,065
936
Attributable profit
296
265
266
179
238
191
127
157
1,006
713
Gross income
Operating expenses
Other

80. 80
Chile
Constant EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
550
554
516
574
526
542
587
606
2,194
2,261
(209)
(227)
(223)
(228)
(222)
(239)
(239)
(237)
(888)
(937)
341
327
293
346
304
303
348
369
1,306
1,324
(122)
(117)
(158)
(148)
(147)
(142)
(157)
(151)
(545)
(597)
(4)
(10)
13
6
(1)
3
5
(4)
5
4
Profit before taxes
214
200
148
203
156
164
197
214
766
731
Consolidated profit
185
177
127
181
141
135
169
179
670
624
Attributable profit
128
121
91
126
98
94
118
126
466
435
Gross income
Operating expenses
Net operating income
Net loan-loss provisions
Other

81. 81
Corporate Activities
EUR million
1Q 12
2Q 12
3Q 12
4Q 12
1Q 13
2Q 13
3Q 13
4Q 13
2012
2013
Gross income
(326)
(184)
(280)
(218)
(328)
(141)
(168)
(316)
(1,007)
(953)
Operating expenses
(171)
(156)
(149)
(54)
(178)
(177)
(170)
(172)
(530)
(698)
Net operating income
(496)
(340)
(429)
(272)
(507)
(319)
(338)
(488)
(1,537)
(1,651)
(4)
4
(30)
(54)
(29)
(189)
14
2
(85)
(201)
(61)
18
(74)
(439)
(66)
(89)
(124)
105
(555)
(173)
Ordinary profit before taxes
(562)
(318)
(533)
(765)
(602)
(596)
(447)
(380)
(2,177)
(2,025)
Ordinary consolidated profit
(559)
(381)
(565)
(639)
(547)
(523)
(424)
(386)
(2,144)
(1,880)
Ordinary attributable profit
(531)
(397)
(577)
(619)
(547)
(521)
(422)
(397)
(2,125)
(1,887)
Attributable profit
(531)
285
(333)
(563)
(547)
(521)
(422)
(397)
(1,142)
(1,887)
Net loan-loss provisions
Other