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Earnings Presentation April 30th, 2025 1Q25 BRGAAP
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2 Disclaimer This presentation may contain certain forward-looking statements and information pertaining to Banco Santander (Brasil) S.A. and its subsidiaries, which reflect the current views and / or expectations of Santander Brasil and its management regarding its business performance and future events. Forward-looking statements include, without limitation, any statement that may predict, forecast, suggest or imply future results, performance or achievements, and may include terminology such as likely or others that have similar meaning. Such statements are subject to numerous risks, uncertainties and assumptions. We issue a warning that a number of significant circumstances could cause actual results to significantly diverge from the plans, objectives, expectations, estimates and intentions expressed herein. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. In no event shall Santander Brasil, as well as any of its subsidiaries, affiliates, shareholders, directors, officers, employees or agents are in no way responsible for third parties (including investors) for any investment or business decision or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or related damages. Aside from other considerations stated in this presentation, the following factors, among others, could cause actual results to differ materially from the forward-looking statements or historical performance. Our ability to compete effectively will depend on changes in consumer preferences and financial circumstances of our consumers and competitive conditions in the markets in which we operate, changes in economic, political and business conditions in Brazil; government interventions leading to changes in the Brazilian economy, taxes, tariffs or regulatory environment; our ability to compete successfully; changes in our business; our ability to successfully implement marketing strategies; our identification to business opportunities; our ability to develop and introduce new products and services; changes in the cost of our products and operating costs; our level of indebtedness and other financial obligations; our ability to attract new customers; inflation in Brazil; the devaluation of the Brazilian Real against the U.S. Dollar and interest rate fluctuations; current or future changes in laws and regulations; and our ability to maintain existing business relationships and create new relationships.
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Strategy Update 1 Takeaways 32 1Q25 Results Highlights
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Key Messages Net profit R$ 3.9 billion ROAE 17.4% (+0.2% QoQ) (+27.8% YoY) (-0.2 p.p. QoQ) (+3.3 p.p. YoY) HighlightsResults Obsession with the continuous transformation of the customer journey Strategic levers as a management compass Building a more solid and resilient operation 4 NII Fees Cost of risk Costs Decline due to seasonality Cost control agenda remains solid in the quarter Increase associated with implementation of CMN Res. 4,966 Slight reduction in the quarter due to fewer business days and markets-0.4% -6.9% +0.3 p.p. -2.9% QoQ +7.7% +5.1% Stable +4.4% YoY Efficiency ratio Continuous evolution, achieving the best level in 3 years-0.8 p.p -2.5 p.p.
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5 Customer Centricity 70.7 million customers +17% YoY of customers with primacy 33.2 million of active customers Individuals NPS Companies NPS 63 points +10 points in 2 years 50 points +22 points in 2 years One App | Rollout between May and Sep/25 What we are delivering... Streamlined and optimized journeys Personalized and continuous conversations with every single customer +300 insight categories Evolution of the payment experience Proximity pix Single field for payment and transfer Click-to-pay, enhancing security and simplicity Over 45,000 clients interviewed More than 50 surveys conducted 2022 2023 2024 #5 #1 #1 1Q25 #1 1st in stability Hyper-personalization 17% 22% 37% 100 123 218 2023 2024 1Q25 Personalized interactions Customer convertion (base 100)
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Strategic levers 6 Consumer Finance | The largest and most digital SMEs | Full revamp of the business Cards | Key lever for transactionality Individuals | Simplification and focus 234,000 contracts¹ R$ 11.2 billion in origination¹ NPS 2x higher than the previous model 3x more visits by specialists +9% YoY in active customers 67.1 72.2 83.5 Mar/23 Mar/24 Mar/25 Loan portfolio R$ billion 45.7 49.3 58.1 Mar/23 Mar/24 Mar/25 Individuals loan portfolio R$ billion 100 108 119 1Q23 1Q24 1Q25 Net profit evolution Base 100 (1) Figures for 1Q25. (2) Data for March 2025. 50% market share in electric vehicles 81% in the highest ratings² 4-click streamlined journey New offering, positioning, and service model+24% +27% A more qualified base: 55% of the portfolio in high-income clients² +12% YoY increase in credit turnover Segmentation simplification: high-income middle-income low-income Select Santander Old New Strengthening the Select and Santander brands Multichannel and personalized service Streamlining offerings Santander Shopping: Launched in Mar/25 AI Pitch maker
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Our Golden Rules 7 BALANCED LOAN PORTFOLIO Reduction of low-income cards and material rise in collateralized personal loans +36% in high-income share in the card's portfolio1 +47 p.p. in personal loans with collateral1 COST EFFICIENCY Expense control and transformation through technology -20% cost to serve in the low-income segment1 -22% physical store expenses1 FOCUS ON PROFITABILITY Capital optimization and focus on business profitability +6.9 p.p. in the bank's ROAE1 LONG-TERM VISION Increase the predictability of the result through economic cycles New hedging policy REVENUE DIVERSIFICATION FUNDING COST REDUCTION BALANCED LOAN PORTFOLIO COST EFFICIENCY LONG-TERM VISION FOCUS ON PROFITABILITY REVENUE DIVERSIFICATION Focus on fees growth through transactionality +22%2 growth in fees1 +19% growth in cards1 FUNDING COST REDUCTION Funding expansion plan focused on individual customers -1 p.p. of CDI in CDB funding cost1 +3 p.p. in share of individuals in the mix1 (1) Changes from 1Q25 vs. 1Q23. (2) Disregards 4,966/21 effects. Sustainable returns
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Strategy Update 1 Takeaways 32 1Q25 Results Highlights
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Loan portfolio and Funding 9 (1) Disregarding the exchange rate effect, corporate loans portfolio would have grown by 0.6% QoQ and fallen 8.4% YoY. Total portfolio would have grown by 0.2% QoQ and 2.6% YoY. (2) Backed by debentures. (3) Includes notes secured by real estate and COE. Loans (R$ million) Mar/25 Mar/25 x Dec/24 Mar/24 Mar/25 x Mar/24 Individuals 252,404 -0.9% 246,717 2.3% Payroll loans 68,706 -3.4% 72,006 -4.6% Credit cards 58,080 0.7% 49,266 17.9% Consumer Finance 83,547 0.6% 72,211 15.7% SMEs 77,984 1.8% 68,883 13.2% Corporate1 132,331 -2.2% 137,542 -3.8% Total1 546,265 -0.6% 525,353 4.0% Private securities and guarantees 136,028 2.2% 128,667 5.7% Expanded Portfolio 682,293 -0.1% 654,020 4.3% Funding from clients (R$ million) Mar/25 Mar/25 x Dec/24 Mar/24 Mar/25 x Mar/24 Demand deposits 50,436 22.0% 37,484 34.6% Saving deposits 54,786 -4.6% 57,093 -4.0% Time deposits 381,500 -2.2% 374,283 1.9% Repo products2 12,536 -8.4% 18,016 -30.4% Real Estate (LCI) and Agribusiness (LCA) credit notes 78,340 0.1% 79,713 -1.7% Financial bills and others3 73,887 14.5% 56,837 30.0% Total 651,486 0.9% 623,427 4.5%
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Fees (R$ million) 1Q25 1Q25 x 4Q24 1Q24 1Q25 x 1Q24 Cards 1,420 -8.6% 1,238 14.7% Current Account Services 900 -3.6% 851 5.8% Insurance Fees 1,028 -2.1% 951 8.0% Credit Operations 453 -28.2% 583 -22.3% Securities Brokerage and Placement 398 -5.4% 394 0.9% Asset Management 414 10.6% 368 12.5% Asset management and pension funds 150 24.8% 137 9.4% "Consórcios" 264 3.9% 230 14.4% Collection Services 277 -9.9% 311 -11.0% Others 246 0.5% 189 30.3% Total 5,137 -6.9% 4,886 5.1% NII (R$ million) 1Q25 1Q25 x 4Q24 1Q24 1Q25 x 1Q24 Client NII 15,825 0.3% 14,457 9.5% Product NII 15,108 -0.5% 13,810 9.4% Volume 605,630 1.6% 573,547 5.6% Spread (p.a.) 10.51% 0.02 p.p. 10.01% 0.50 p.p. Working Capital 717 19.4% 647 10.8% Market NII 97 -51.1% 333 -70.9% Total 15,922 -0.4% 14,790 7.7% 10 Revenues 1 Disregards 4,966/21 effects. -8.0% -0.4% -4.6% 7.8% Spread p.a. 10.01% 9.81% 9.89% 10.49% 10.51% 1Q24 2Q24 3Q24 4Q24 1Q25
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3.8% 3.7% 3.7% 3.5% 3.7% 6,765 6,631 6,797 6,682 7,012 (723) (735) (913) (750) (622) 6,043 5,896 5,884 5,932 6,390 1Q24 2Q24 3Q24 4Q24 1Q25 11(1) Annualized quarterly cost of risk. (2) Disregards additional provision of R$1,930 million. (3) The cost of risk disregards the effect previously mentioned. Cost of risk and Delinquency LLP Recovery of written-off loans Cost of risk 12M 3 1 NPL acima de 90 dias NPL over 90 daysRecurring loan loss provisions and cost of risk NPL 15 - 90 days R$ million 2 4.3% 4.2% 4.2% 4.3% 4.3% 1.5% 1.6% 1.7% 1.6% 1.9% 3.2% 3.2% 3.2% 3.2% 3.3% Mar/24 Jun/24 Sep/24 Dec/24 Mar/25 Total Individuals Corporate and SMEs 5.1% 4.9% 4.9% 4.8% 5.6% 2.0% 1.6% 1.6% 2.0% 1.9% 3.8% 3.5% 3.6% 3.7% 4.1% Mar/24 Jun/24 Sep/24 Dec/24 Mar/25 Total Individuals Corporate and SMEs
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121) Excluding 100% of the goodwill amortization expense of R$ 82 million in 1Q25, R$ 109 million in 4Q24 and R$ 85 million in 1Q24. (2) Variations relative to the same line of the previous period. Expenses Expenses and efficiency ratio Efficiency ratio Personnel expenses Depreciation and Amortization1 Administrative expenses 39.7% 39.3% 38.9% 38.0% 37.2% 3,059 2,979 3,026 3,306 3,189 2,436 2,531 2,619 2,634 2,570 802 805 812 830 814 6,297 6,314 6,457 6,769 6,573 1Q24 2Q24 3Q24 4Q24 1Q25 R$ million 2 2 General Expenses R$ million 11.1% 1.2% 6,297 227 49 6,573 1Q24 Expenses with expansion of the business and Technology Recurring expenses 1Q25 General expenses (R$ million) 1Q25 1Q25 x 4Q24 1Q24 1Q25 x 1Q24 Administrative 2,570 -2.4% 2,436 5.5% Personnel 3,189 -3.5% 3,059 4.3% Total Expenses 5,759 -3.0% 5,495 4.8% Depreciation and Amortization1 814 -1.8% 802 1.5% Total 6,573 -2.9% 6,297 4.4%
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1Q25 Highlihts 13 ROAE 17.4% -0.2 p.p. vs 4Q24 +3.3p.p. vs 1Q24 Cost of risk 3.7% +0.3 p.p. vs 4Q24 Stable vs 1Q24 BIS ratio 14.3% +0.1 p.p. vs 4Q24 -0.1 p.p. vs 1Q24 CET1 11.1% +0.1 p.p. vs 4Q24 -0.3 p.p. vs 1Q24 Results (R$ million) 1Q25 1Q25 x 4Q24 1Q24 1Q25 x 1Q24 Net Interest Income 15,922 -0.4% 14,790 7.7% Fees 5,137 -6.9% 4,886 5.1% Total Revenues 21,058 -2.0% 19,676 7.0% Allowance for Loan Losses (6,390) 7.7% (6,043) 5.7% General Expenses (6,573) -2.9% (6,297) 4.4% Other Operating Income/Expenses (2,126) -6.4% (2,532) -16.0% Tax Expenses (1,341) -9.7% (1,332) 0.7% Others 120 77.8% 68 75.8% Managerial Profit Before Taxes 4,747 -7.0% 3,539 34.1% Taxes and Minority Interest (886) -29.1% (518) 71.2% Managerial Net Profit 1 3,861 0.2% 3,021 27.8%
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Strategy Update 1 Takeaways 32 1Q25 Results Highlights
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Quarter highlights and expectations Obsessive focus on primary relationships and customer satisfaction 15 Unified and multichannel journeys, featuring increasingly hyper-personalized offerings Business evolution focusing on profitability and active portfolio Technology remains our major lever for transformation 2025 a year of execution aimed at the Golden Rules Takeaways