In addition, the group maintained disciplined cost control, with the best efficiency ratio in 15 years. Tax on profit in the period was €5,283 million, up 18%, resulting in an effective tax rate of 28%. Profit in the fourth quarter was €3,265 million, up 11% versus the same quarter of 2023, also representing record results for the third consecutive quarter.

This achievement represents a significant milestone in the Santander US business strategy to efficiently boost national deposit acquisition that will fuel its leading Auto lending franchise and transform its Retail Bank.