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Significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2022
Statement [LineItems]  
Summary of Reconciliation Between IFRS and IFRS-EU
A reconcilliation between IFRS and EU-IFRS is included in the table below.
 
             Shareholders’ equity                   Net result  
     
      2022
           2021         2020    
      2022
           2021           2020  
In accordance with IFRS
   
 
12,071
 
  
 
23,813
 
  
 
22,018
 
  
 
(1,404
) 
  
 
2,029
 
  
 
(135
) 
Adjustment of EU ‘IAS 39’ carve-out
      (850 )      632       1,054       (1,482 )      (422 )      280  
Tax effect of the adjustment
      219       (163 )      (257 )      382       93       (90 ) 
Effect of the adjustment after tax
   
 
(631
) 
  
 
469
 
  
 
798
 
  
 
(1,100
) 
  
 
(328
) 
  
 
190
 
In accordance with EU-IFRS
   
 
11,440
 
  
 
24,282
 
  
 
22,815
 
  
 
(2,504
) 
  
 
1,701
 
  
 
55
 
Summary of Initial Application of Standards or Interpretations
In EUR billion
   
 
Shareholders’ equity
 
  
 
Revaluation reserves
 
Balances as at January 1, 2022, as previously reported
      23.8       6.4  
Impact of the change in accounting policies (IFRS 9 and 17)
      (12.6 )      (9.0 ) 
Restated balances as at January 1, 2022
   
 
11.2
 
  
 
(2.6
) 
Summary of Change in Fair Value
The table below presents an overview of the fair value of the classes of financial assets as of December 31, 2022, as well as the change in fair value during the reporting period. The asset classes are divided into two categories:
 
◆
   SPPI: assets of which cash flows represent solely payments of principal and interest (SPPI) on an outstanding principal amount, excluding any financial assets that meet the definition of held for trading in IFRS 9, or that are managed and whose performance is evaluated on a fair value basis; and
◆
   Other: all financial assets other than those specified in SPPI:
 
◆
   with contractual terms that do not give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding;
 
◆
   that meet the definition of held for trading in IFRS 9; or
 
◆
   that are managed and whose performance are evaluated on a fair value basis.
 
                     
2022
1)
     2021  
                         
Change in
               
                  
Fair value at
     
fair value
    Fair value at      Change in fair  
                  
the end of
     
during the
     the end of      value during  
                  
the reporting
     
reporting
     the reporting      the reporting  
Financial assets at fair value
                             
period
     
period
     period      period  
Shares
2)
   
 
SPPI
 
               39        8       44        10  
    
 
Other
 
               345        (33 )      618        36  
Debt securities
   
 
SPPI
 
               52,363        (14,000 )      93,234        (3,132 ) 
    
 
Other
 
               1,284        (182 )      3,961        (75 ) 
Money Markets and other short-term investments
   
 
SPPI
 
               2,631        10       2,324        (0 ) 
    
 
Other
 
               2,982        1       2,586        -    
Mortgage loans
   
 
SPPI
 
               9,245        (1,199 )      44,366        (195 ) 
    
 
Other
 
               -          -         -          -    
Private loans
   
 
SPPI
 
               -          -         5,474        (267 ) 
    
 
Other
 
               15        (26 )      36        (10 ) 
Deposits with financial institutions
   
 
SPPI
 
               45        -         52        -    
    
 
Other
 
               -          -         -          -    
Policy loans
   
 
SPPI
 
               1        -         1        -    
    
 
Other
 
               2,042        -         1,892        (0 ) 
Other financial assets
   
 
SPPI
 
               -          -         -          -    
       Other                 4,566        179       5,598        724  
At December 31
                     
 
75,557
 
   
 
(15,241
) 
  
 
160,187
 
   
 
(2,909
) 
 
1
2022 excludes the assets of the disposal group, which are separately disclosed in note 51 Discontinued operations.
2
The SPPI-compliant shares include preferred equity instruments.
Summary of Credit Risk Rating Grades
The table below details the credit risk rating grades, as of December 31, 2022, for financial assets with cash flows that are SPPI, excluding any financial assets that meet the definition of held for trading in IFRS 9, or that are managed and whose performance is evaluated on a fair value basis. The tables show the carrying value of those financial assets applying IAS 39 (in the case of financial assets measured at amortized cost, before adjusting for any impairment allowances).
 
SPPI compliant financial assets at carrying value
    AAA      AA      A      BBB      BB      B      CCC or
lower		      Not
Rated		      Total    
2022
1)
                                                                                 
                   
Shares – Carried at fair value
      -        -        -        22        8        -        9        -        39    
                   
Debt securities – Carried at fair value
      9,251        4,270        16,398        19,779        1,424        594        647        -        52,363    
                   
Money market and other short-term investments- carried at fair value
      313        221        2,080        1        -        -        2        15        2,631    
                   
Mortgage loans– Carried at amortized cost
      1,488        4,454        3,779        671        48        -        -        5        10,445    
                   
Private loans – Carried at amortized cost
      -        -        -        -        -        -        -        -        -    
                   
Other financial assets – Carried at fair value
      -        -        6        1        -        -        -        39        46    
                   
At December 31
   
 
11,052
 
   
 
8,944
 
   
 
22,263
 
   
 
20,474
 
   
 
1,480
 
   
 
594
 
   
 
658
 
   
 
59
 
   
 
65,524  
 
2021
                                                                                 
                   
Shares – Carried at fair value
      -        -        -        23        13        -        8        -        44    
                   
Debt securities – Carried at fair value
      26,076        10,195        24,916        28,524        1,828        918        754        24        93,234    
                   
Money market and other short-term investments- carried at fair value
      25        120        1,986        193        -        -        -        -        2,324    
                   
Mortgage loans– Carried at amortized cost
      1,383        4,221        3,301        519        59        -        -        31,141        40,624    
                   
Private loans – Carried at amortized cost
      2,607        216        189        1,050        44        -        -        744        4,850    
                   
Other financial assets – Carried at fair value
      -        -        13        1        -        18        -        21        53    
                   
At December 31
   
 
30,090
 
   
 
14,752
 
   
 
30,405
 
   
 
30,310
 
   
 
1,944
 
   
 
936
 
   
 
762
 
   
 
31,930
 
   
 
141,128  
 
 
1
 
2022 excludes the assets of the disposal group, which are separately disclosed in note 51 Discontinued operations.
Summary of Credit Risk Exposure
    
2022
1)
      2021  
SPPI compliant financial assets rated BB or below
   
Carrying amount  
     
Fair value  
      Carrying amount        Fair value    
         
Shares – Carried at fair value
      17          17          21          21    
         
Debt securities – Carried at fair value
      2,665          2,665          3,524          3,524    
         
Money market and other short-term investments – Carried at fair value
      17          17          -          -    
         
Mortgage loans – Carried at amortized cost
      53          40          31,200          34,254    
         
Private loans – Carried at amortized cost
      -          -          788          816    
         
Deposits with financial institutions – Carried at amortized cost
      38          38          38          38    
         
Other financial assets – Carried at fair value
      1          1          1          1    
         
At December 31
   
 
2,791  
 
   
 
2,777  
 
   
 
35,572  
 
   
 
38,654  
 
 
1
 
2022 excludes the assets of the disposal group, which are separately disclosed in note 51 Discontinued operations.
 
1
 
Mortgage loans with no low credit risk are defined as being more than 90 days past due, in line with regulatory guidelines.
AEGBanco Santander [member]  
Statement [LineItems]  
Summary of Change in Fair Value
           
2022
1)
     2021  
Financial assets at fair value
           
Fair value at the
end of the
reporting period
     
Change in fair
value during the
reporting period
     Fair value at the
end of the
reporting period		      Change in fair
value during the
reporting period		  
Debt securities
      SPPI                178        -       178        8  
           
       Other                -        -       -        -  
           
Money Markets and other short-term investments
      SPPI                -        -       -        -  
           
       Other        12        -       10        -  
           
Other financial assets
      SPPI                -        -       -        -  
           
       Other        836        (33 )      -        -  
           
At December 31
   
 
 
 
   
 
1,026
 
   
 
(33
) 
  
 
188
 
   
 
8
 
 
1
 
2022 excludes the assets of the disposal group, which are separately disclosed in note 51 Discontinued operations.
Summary of Credit Risk Rating Grades
     
               
      
               
      
               
      
               
      
               
      
               
      
               
      
               
      
               
  
SPPI compliant financial assets at carrying value
   
AAA
     
AA
     
A
     
BBB
     
BB
     
B
     
CCC or
lower
     
Not
Rated
     
Total
  
2022
1)
                                                                                 
Debt securities – Carried at fair value
   
 
6
 
   
 
13
 
   
 
123
 
   
 
35
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
178
 
                   
At December 31
   
 
6
 
   
 
13
 
   
 
123
 
   
 
35
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
178
 
2021
                                                                                 
Debt securities – Carried at fair value
   
 
8
 
   
 
13
 
   
 
120
 
   
 
37
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
178
 
                   
At December 31
   
 
8
 
   
 
13
 
   
 
120
 
   
 
37
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
-
 
   
 
178