“The recovery of our business is progressing well, and the third quarter was significantly stronger than the second. Revenues increased 18% in constant euros as activity returned close to pre-pandemic levels, loan loss provisions fell 14% and we continued to reduce costs ahead of plan.
These results speak to the strength and breadth of our customer relationships and the resilience of our diversified business and markets in which we operate. This diversification has been a key driver of our recovery.
Given the Group's current performance, the strength of our balance sheet, our liquidity profile and mix of businesses, I am confident that we will be able to resume cash dividends once regulatory conditions allow. As such, we are seeking shareholder approval today for a €0.10 per share cash payment to shareholders in 2021, once permitted.
Although the outlook for 2021 depends on how the pandemic evolves, we have proven that our strategy and business model position us well to continue supporting our customers and delivering results for our shareholders.”

ANA BOTÍN, GROUP EXECUTIVE CHAIRMAN OF BANCO SANTANDER