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  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_0727ffc9-9969-4a7c-829b-38f2cb1bed89_verboseLabel_es" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Incremento (decremento) por otros cambios, patrimonio neto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevenueFromDividends_0b1cabfc-0144-43d8-a7e3-f53ad05244d2_verboseLabel_es" xlink:label="lab_ifrs-full_RevenueFromDividends" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos por dividendos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevenueFromDividends" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevenueFromDividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevenueFromDividends" xlink:to="lab_ifrs-full_RevenueFromDividends" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CurrentTaxLiabilities_7d943806-b173-494c-8203-abc13879a5db_terseLabel_es" xlink:label="lab_ifrs-full_CurrentTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos por impuesto corriente</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CurrentTaxLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CurrentTaxLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTaxLiabilities" xlink:to="lab_ifrs-full_CurrentTaxLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentNotSubjectToOperatingLeasesMember_61bb6650-545c-4d6f-81c8-89965208a47b_terseLabel_es" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentNotSubjectToOperatingLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Inmovilizado material no objeto de arrendamiento operativo [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipmentNotSubjectToOperatingLeasesMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipmentNotSubjectToOperatingLeasesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipmentNotSubjectToOperatingLeasesMember" xlink:to="lab_ifrs-full_PropertyPlantAndEquipmentNotSubjectToOperatingLeasesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod_51c0f68c-319c-4557-9cb4-126e9d9bbb51_verboseLabel_es" xlink:label="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Adquisición de participaciones en inversiones contabilizadas utilizando el método de la participación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_PurchaseOfInterestsInInvestmentsAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_3b4c6486-8d7a-464d-9a1d-166f8fc590d8_verboseLabel_es" xlink:label="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participación en otro resultado global de las asociadas y negocios conjuntos que se contabilicen según el método de la participación que se reclasificará a resultados, neta de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_TreasuryShares_f0c69e97-92bd-4122-b6b5-a806f4a57943_negatedTerseLabel_es" xlink:label="lab_ifrs-full_TreasuryShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Acciones propias</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_TreasuryShares" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_TreasuryShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TreasuryShares" xlink:to="lab_ifrs-full_TreasuryShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherProvisionsMember_e072728f-7de5-447e-a297-ab3ca26ba30e_terseLabel_es" xlink:label="lab_ifrs-full_OtherProvisionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras provisiones [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherProvisionsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherProvisionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherProvisionsMember" xlink:to="lab_ifrs-full_OtherProvisionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities_5ae8063d-2ef5-46e8-ab55-5b5314fb4de3_verboseLabel_es" xlink:label="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dividendos pagados, clasificados como actividades de financiación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsPaidClassifiedAsFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:to="lab_ifrs-full_DividendsPaidClassifiedAsFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GrossProfit_538a651d-7c42-4e20-a448-d06032d80639_totalLabel_es" xlink:label="lab_ifrs-full_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Margen bruto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GrossProfit" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GrossProfit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GrossProfit" xlink:to="lab_ifrs-full_GrossProfit" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_MiscellaneousOtherProvisionsMember_436a5452-091c-48d2-8a21-cca584d64e4d_terseLabel_es" xlink:label="lab_ifrs-full_MiscellaneousOtherProvisionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras provisiones diversas [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_MiscellaneousOtherProvisionsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_MiscellaneousOtherProvisionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MiscellaneousOtherProvisionsMember" xlink:to="lab_ifrs-full_MiscellaneousOtherProvisionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares_8203431f-6ee0-4627-9b90-b2c0e677bbe1_verboseLabel_es" xlink:label="lab_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos por la adquisición o el rescate de acciones de la entidad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PaymentsToAcquireOrRedeemEntitysShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:to="lab_ifrs-full_PaymentsToAcquireOrRedeemEntitysShares" xlink:type="arc" order="1"/>
    <link:label id="lab_san_ActivosTangibles_008bfd75-1a64-474f-9bf9-d90bd2eec84d_totalLabel_es" xlink:label="lab_san_ActivosTangibles" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Tangibles</link:label>
    <link:label id="lab_san_ActivosTangibles_label_es" xlink:label="lab_san_ActivosTangibles" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Tangibles</link:label>
    <link:label id="lab_san_ActivosTangibles_documentation_es" xlink:label="lab_san_ActivosTangibles" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Tangibles</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_ActivosTangibles" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_ActivosTangibles"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_ActivosTangibles" xlink:to="lab_san_ActivosTangibles" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherAssets_371cf41b-4aca-4448-962a-0dde37edc057_totalLabel_es" xlink:label="lab_ifrs-full_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros activos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherAssets" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherAssets" xlink:to="lab_ifrs-full_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_832d9af3-3c38-433a-8dcf-2e0474e46802_verboseLabel_es" xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efecto de las variaciones del tipo de cambio en el efectivo y equivalentes al efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InflowsOfCashFromInvestingActivities_3c05dbfd-e1a8-4602-ad8a-71986abacfef_totalLabel_es" xlink:label="lab_ifrs-full_InflowsOfCashFromInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Entradas de efectivo procedentes de actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InflowsOfCashFromInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InflowsOfCashFromInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InflowsOfCashFromInvestingActivities" xlink:to="lab_ifrs-full_InflowsOfCashFromInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAndLiabilities_2a158ffe-1599-4b37-bfdc-2a9af304af9c_negatedLabel_es" xlink:label="lab_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto y pasivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAndLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAndLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAndLiabilities" xlink:to="lab_ifrs-full_EquityAndLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainRecognisedInBargainPurchaseTransaction_61c22b6f-03b4-4e37-9106-f0a1a10126e4_terseLabel_es" xlink:label="lab_ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia reconocida en una transacción de compra en condiciones muy ventajosas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainRecognisedInBargainPurchaseTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:to="lab_ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember_8f9a81f9-6a62-45f5-b227-1f0a915d3dba_verboseLabel_es" xlink:label="lab_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Financieros Reclasificados Desde Coste Amortizado [Member]</link:label>
    <link:label id="lab_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember_label_es" xlink:label="lab_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Financieros Reclasificados Desde Coste Amortizado [Member]</link:label>
    <link:label id="lab_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember_documentation_es" xlink:label="lab_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Financieros Reclasificados Desde Coste Amortizado</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember" xlink:to="lab_san_ActivosFinancierosReclasificadosDesdeCosteAmortizadoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges_85d49642-785f-4e49-8279-bbe663c6bd80_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, antes de impuestos, coberturas de flujos de efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxCashFlowHedges" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax_cbdbb6d7-e65c-4f54-bd70-fff3177ced90_verboseLabel_es" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificación relativos a coberturas de inversiones netas en negocios en el extranjero, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:to="lab_ifrs-full_ReclassificationAdjustmentsOnHedgesOfNetInvestmentsInForeignOperationsBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherEquityInterestMember_41e1b8bf-a2ec-497f-9061-88f832678e9a_verboseLabel_es" xlink:label="lab_ifrs-full_OtherEquityInterestMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras participaciones en el patrimonio [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherEquityInterestMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherEquityInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherEquityInterestMember" xlink:to="lab_ifrs-full_OtherEquityInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss_f3e61270-12ab-4b45-98ea-5836ded4e79c_terseLabel_es" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros al valor razonable con cambios en resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DerivativesMember_11f1c25d-164f-4dbd-927b-86a7c453d455_terseLabel_es" xlink:label="lab_ifrs-full_DerivativesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Derivados [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DerivativesMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DerivativesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DerivativesMember" xlink:to="lab_ifrs-full_DerivativesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTrading_e568bdc2-9c5c-4c8d-ac46-b7549411d14f_verboseLabel_es" xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por decremento (incremento) de los activos financieros mantenidos para negociar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTrading" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTrading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTrading" xlink:to="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInFinancialAssetsHeldForTrading" xlink:type="arc" order="1"/>
    <link:label id="lab_san_PosicionesCortasMember_ee9b1bc9-39dc-4a6a-8538-b078d1ec60b3_terseLabel_es" xlink:label="lab_san_PosicionesCortasMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Posiciones Cortas [Member]</link:label>
    <link:label id="lab_san_PosicionesCortasMember_label_es" xlink:label="lab_san_PosicionesCortasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Posiciones Cortas [Member]</link:label>
    <link:label id="lab_san_PosicionesCortasMember_documentation_es" xlink:label="lab_san_PosicionesCortasMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Posiciones Cortas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_PosicionesCortasMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_PosicionesCortasMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_PosicionesCortasMember" xlink:to="lab_san_PosicionesCortasMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities_6dd51b7c-50e8-4d04-b5a3-75452cc37a8b_verboseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros procedentes de la emisión de pasivos subordinados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities" xlink:to="lab_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_12ccce89-1c4a-4bd0-b15d-2087286065de_verboseLabel_es" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Incremento (decremento) por adquisición de dependiente, patrimonio neto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_SharePremiumMember_2cd9e565-3169-41f0-b8b4-4d737767aaeb_verboseLabel_es" xlink:label="lab_ifrs-full_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prima de emisión [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_SharePremiumMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_SharePremiumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SharePremiumMember" xlink:to="lab_ifrs-full_SharePremiumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill_d3ce7e1f-9493-4a79-8903-3e863a51ef8e_terseLabel_es" xlink:label="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos intangibles distintos del fondo de comercio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="lab_ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesMember_165b19d6-9198-425a-b1ae-14e294c8f227_verboseLabel_es" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos y pasivos [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAndLiabilitiesMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssetsAndLiabilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAndLiabilitiesMember" xlink:to="lab_ifrs-full_AssetsAndLiabilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashAndCashEquivalentsAbstract_3e4396da-f395-4476-9ae7-58d2d3def761_verboseLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes al efectivo [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndCashEquivalentsAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndCashEquivalentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="lab_ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations_b0f5274e-4c2a-4be9-8d4e-a2c2c4d8e9bb_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, antes de impuestos, cobertura de las inversiones netas en negocios en el extranjero</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxHedgesOfNetInvestmentsInForeignOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Provisions_978a6642-9620-4c4f-923f-98ebfff738b0_terseLabel_es" xlink:label="lab_ifrs-full_Provisions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Provisiones</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Provisions" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Provisions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Provisions" xlink:to="lab_ifrs-full_Provisions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities_849edf1d-3e23-4d50-9af9-7acfe061122a_terseLabel_es" xlink:label="lab_ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajuste acumulado de cobertura del valor razonable realizado en la partida cubierta que está incluido en el importe en libros, pasivos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:to="lab_ifrs-full_AccumulatedFairValueHedgeAdjustmentOnHedgedItemIncludedInCarryingAmountLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EarningsPerShareAbstract_07628801-f33a-4ef8-a236-102b8b0d1f29_verboseLabel_es" xlink:label="lab_ifrs-full_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias por acción [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EarningsPerShareAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EarningsPerShareAbstract" xlink:to="lab_ifrs-full_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados_7c4cf8bf-7e61-41d0-8e77-d1c46616416b_verboseLabel_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado, Elementos Que No Se Reclasificarán En Resultados</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados_label_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado, Elementos Que No Se Reclasificaran En Resultados</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados_documentation_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado, Elementos Que No Se Reclasificaran En Resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados" xlink:to="lab_san_OtroResultadoGlobalAcumuladoElementosQueNoSeReclasificaranEnResultados" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss_a5c23036-bfb7-4f5b-8c47-e010f1f95918_verboseLabel_es" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros al valor razonable con cambios en resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_13b074d3-5f72-4e66-a580-45314bb1daec_verboseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros procedentes de las ventas de inversiones contabilizadas utilizando el método de la participación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialInstrumentsMember_c2115d2a-93d0-4749-a5a1-7f0c8ebf7cea_terseLabel_es" xlink:label="lab_ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Instrumentos financieros, clase [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="lab_ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense_d0637bd9-6a74-4318-bc3e-e3dffdacd0e6_verboseLabel_es" xlink:label="lab_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por gastos por depreciación y amortización</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense"/>
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    <link:label id="lab_ifrs-full_StatementOfChangesInEquityLineItems_f25aee3d-7d47-47de-8639-bac24baad47a_terseLabel_es" xlink:label="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Estados de cambios en el patrimonio neto [line items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfChangesInEquityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome_83581986-8e28-4cef-aac3-06a509539aac_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, antes de impuestos, activos financieros valorados al valor razonable con cambios en otro resultado global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxFinancialAssetsMeasuredAtFairValueThroughOtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosGastosDeAdministracion_0a80f50b-9ec2-478f-b9b1-7271ce734fa7_terseLabel_es" xlink:label="lab_san_OtrosGastosDeAdministracion" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros gastos de administración</link:label>
    <link:label id="lab_san_OtrosGastosDeAdministracion_label_es" xlink:label="lab_san_OtrosGastosDeAdministracion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Gastos De Administracion</link:label>
    <link:label id="lab_san_OtrosGastosDeAdministracion_documentation_es" xlink:label="lab_san_OtrosGastosDeAdministracion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Gastos De Administracion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosGastosDeAdministracion" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosGastosDeAdministracion"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrosGastosDeAdministracion" xlink:to="lab_san_OtrosGastosDeAdministracion" xlink:type="arc" order="1"/>
    <link:label id="lab_san_DeclaracionLineItems_d2c0cf1d-36fa-46fe-a80a-11d3f3b6a52d_terseLabel_es" xlink:label="lab_san_DeclaracionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Declaración [Articulos de linea]</link:label>
    <link:label id="lab_san_DeclaracionLineItems_label_es" xlink:label="lab_san_DeclaracionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Declaracion [Line Items]</link:label>
    <link:label id="lab_san_DeclaracionLineItems_documentation_es" xlink:label="lab_san_DeclaracionLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Declaracion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_DeclaracionLineItems" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_DeclaracionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_DeclaracionLineItems" xlink:to="lab_san_DeclaracionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_4ec8d9a8-37e9-4271-8146-ee6e6bcd375c_verboseLabel_es" xlink:label="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Participación en la ganancia (pérdida) de asociadas y negocios conjuntos contabilizados según el método de la participación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_ca2f4aa8-bf2b-4b5f-a3b9-7c785685d5bf_verboseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de la pérdida de control de dependientes u otros negocios, clasificados como actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember_eaa18657-dce6-4840-8dd2-15f0c5549c34_verboseLabel_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Los Propietarios De La Dominante [Member]</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember_label_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Los Propietarios De La Dominante [Member]</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember_documentation_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Los Propietarios De La Dominante</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember" xlink:to="lab_san_OtroResultadoGlobalAcumuladoAtribuibleALosPropietariosDeLaDominanteMember" xlink:type="arc" order="1"/>
    <link:label id="lab_esef_cor_NotesAccountingPoliciesAndMandatoryTags_648d8108-6969-4d8a-ac49-6abae330fddc_terseLabel_es" xlink:label="lab_esef_cor_NotesAccountingPoliciesAndMandatoryTags" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Notes, accounting policies and mandatory tags – this item MUST be used as a starting point for markups of disclosures in the notes to the financial statements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_esef_cor_NotesAccountingPoliciesAndMandatoryTags" xlink:href="http://www.esma.europa.eu/taxonomy/2019-03-27/esef_cor.xsd#esef_cor_NotesAccountingPoliciesAndMandatoryTags"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_esef_cor_NotesAccountingPoliciesAndMandatoryTags" xlink:to="lab_esef_cor_NotesAccountingPoliciesAndMandatoryTags" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CategoriesOfFinancialAssetsAxis_c6be87fd-03aa-4521-b8a6-0beb3ec29ec3_terseLabel_es" xlink:label="lab_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Categorías de activos financieros [eje]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="lab_ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax_40c02ecf-f766-4678-b61c-3c86c455374d_terseLabel_es" xlink:label="lab_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (pérdidas) por coberturas de flujos de efectivo, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:to="lab_ifrs-full_GainsLossesOnCashFlowHedgesBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_d0addbdc-25d7-4bcf-8d3d-2f1fead76436_verboseLabel_es" xlink:label="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Incremento (decremento) por transacciones con pagos basados en acciones, patrimonio neto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DomicileOfEntity_e87e8c99-cf25-4601-ab3b-91c1ab1a1288_verboseLabel_es" xlink:label="lab_ifrs-full_DomicileOfEntity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Domicilio de la entidad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DomicileOfEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DomicileOfEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DomicileOfEntity" xlink:to="lab_ifrs-full_DomicileOfEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IssueOfEquity_5c6eff3f-d8f7-4111-879f-0cb1842a5e93_verboseLabel_es" xlink:label="lab_ifrs-full_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Emisión de instrumentos de patrimonio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IssueOfEquity" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IssueOfEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssueOfEquity" xlink:to="lab_ifrs-full_IssueOfEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember_6737de08-7bbd-4e08-9e2e-6a8e814e2b34_terseLabel_es" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros al valor razonable con cambios en resultados, valorados obligatoriamente al valor razonable, categoría [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:to="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossMandatorilyMeasuredAtFairValueCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IssuedCapital_65ac1310-a9a2-4af7-84f0-8bb9b89596a1_terseLabel_es" xlink:label="lab_ifrs-full_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Capital emitido</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IssuedCapital" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IssuedCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssuedCapital" xlink:to="lab_ifrs-full_IssuedCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_san_InstrumentosDeDeudaMember_4b07aa60-59aa-49b2-9ff5-bc612d0c4bd1_terseLabel_es" xlink:label="lab_san_InstrumentosDeDeudaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Instrumentos De Deuda [Member]</link:label>
    <link:label id="lab_san_InstrumentosDeDeudaMember_label_es" xlink:label="lab_san_InstrumentosDeDeudaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Instrumentos De Deuda [Member]</link:label>
    <link:label id="lab_san_InstrumentosDeDeudaMember_documentation_es" xlink:label="lab_san_InstrumentosDeDeudaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Instrumentos De Deuda</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_InstrumentosDeDeudaMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_InstrumentosDeDeudaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_InstrumentosDeDeudaMember" xlink:to="lab_san_InstrumentosDeDeudaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashAndBankBalancesAtCentralBanks_8dceb0b1-62f9-40a8-aa3f-ad30550a76b7_verboseLabel_es" xlink:label="lab_ifrs-full_CashAndBankBalancesAtCentralBanks" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y saldos bancarios en bancos centrales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashAndBankBalancesAtCentralBanks" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashAndBankBalancesAtCentralBanks"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndBankBalancesAtCentralBanks" xlink:to="lab_ifrs-full_CashAndBankBalancesAtCentralBanks" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevaluationSurplusMember_76a0e445-ac7e-49e6-84b9-9dfbbcd228f1_verboseLabel_es" xlink:label="lab_ifrs-full_RevaluationSurplusMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reserva por revalorización [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevaluationSurplusMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevaluationSurplusMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevaluationSurplusMember" xlink:to="lab_ifrs-full_RevaluationSurplusMember" xlink:type="arc" order="1"/>
    <link:label id="lab_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro_7144a014-1b9a-4777-9658-0fd1cd831483_verboseLabel_es" xlink:label="lab_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos De Activos Amparados Por Contratos De Seguro O Reaseguro</link:label>
    <link:label id="lab_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro_label_es" xlink:label="lab_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos De Activos Amparados Por Contratos De Seguro O Reaseguro</link:label>
    <link:label id="lab_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro_documentation_es" xlink:label="lab_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos De Activos Amparados Por Contratos De Seguro O Reaseguro</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro" xlink:to="lab_san_IngresosDeActivosAmparadosPorContratosDeSeguroOReaseguro" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_fd205a1b-3ec9-4b0d-94a3-fb54651aa446_terseLabel_es" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificación relativos a coberturas de flujos de efectivo, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:to="lab_ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_43951777-0df7-4cf2-938a-27762774476f_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global que se reclasificará a resultados, neto de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FeeAndCommissionIncome_62369354-ee35-4aca-a1a6-a05925412f9a_verboseLabel_es" xlink:label="lab_ifrs-full_FeeAndCommissionIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos por honorarios y comisiones</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FeeAndCommissionIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FeeAndCommissionIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FeeAndCommissionIncome" xlink:to="lab_ifrs-full_FeeAndCommissionIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosInstrumentosDePatrimonioEmitidos_3841de42-b4da-4e23-b9e8-4c60a8b2029d_verboseLabel_es" xlink:label="lab_san_OtrosInstrumentosDePatrimonioEmitidos" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Instrumentos De Patrimonio Emitidos</link:label>
    <link:label id="lab_san_OtrosInstrumentosDePatrimonioEmitidos_label_es" xlink:label="lab_san_OtrosInstrumentosDePatrimonioEmitidos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Instrumentos De Patrimonio Emitidos</link:label>
    <link:label id="lab_san_OtrosInstrumentosDePatrimonioEmitidos_documentation_es" xlink:label="lab_san_OtrosInstrumentosDePatrimonioEmitidos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Instrumentos De Patrimonio Emitidos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosInstrumentosDePatrimonioEmitidos" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosInstrumentosDePatrimonioEmitidos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrosInstrumentosDePatrimonioEmitidos" xlink:to="lab_san_OtrosInstrumentosDePatrimonioEmitidos" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ReserveOfEquityComponentOfConvertibleInstruments_bf0052e0-b963-4068-ae7e-7ead3c799ca0_totalLabel_es" xlink:label="lab_ifrs-full_ReserveOfEquityComponentOfConvertibleInstruments" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reserva de componentes de patrimonio de los instrumentos convertibles</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReserveOfEquityComponentOfConvertibleInstruments" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReserveOfEquityComponentOfConvertibleInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfEquityComponentOfConvertibleInstruments" xlink:to="lab_ifrs-full_ReserveOfEquityComponentOfConvertibleInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember_46f1799d-0499-4fb5-8ae6-4734a85eba29_verboseLabel_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes [Member]</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember_label_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes [Member]</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember_documentation_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:to="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_e9a74104-05da-47d3-8b84-4e1383753cb8_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, antes de impuestos, diferencias de cambio en la conversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_san_DeclaracionTable_5aaea4cb-2682-429a-8de9-f065bda038df_verboseLabel_es" xlink:label="lab_san_DeclaracionTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Declaración [Tabla]</link:label>
    <link:label id="lab_san_DeclaracionTable_label_es" xlink:label="lab_san_DeclaracionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Declaracion [Table]</link:label>
    <link:label id="lab_san_DeclaracionTable_documentation_es" xlink:label="lab_san_DeclaracionTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Declaracion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_DeclaracionTable" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_DeclaracionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_DeclaracionTable" xlink:to="lab_san_DeclaracionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados_94a0258a-18be-4125-8406-049c59092668_verboseLabel_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminución) Neta De Los Activos De Explotación, Activos Financieros No Destinados A Negociación Valorados Obligatoriamente A Valor Razonable Con Cambios En Resultados</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados_label_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Activos De Explotacion, Activos Financieros No Destinados A Negociacion Valorados Obligatoriamente A Valor Razonable Con Cambios En Resultados</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados_documentation_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Activos De Explotacion, Activos Financieros No Destinados A Negociacion Valorados Obligatoriamente A Valor Razonable Con Cambios En Resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:to="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss_26ad54fc-991e-4bba-9a08-f15e20ca4895_verboseLabel_es" xlink:label="lab_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Impuesto sobre las ganancias relativo a componentes de otro resultado global que se reclasificarán en resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:to="lab_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities_70161369-9362-4e17-8f21-4a7099aa6375_verboseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros procedentes de las ventas de activos intangibles, clasificados como actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_ProceedsFromSalesOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncome_f0c3d8a6-4166-4b18-9854-7974ea722f50_totalLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncome" xlink:to="lab_ifrs-full_OtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosIngresosOperativos_e129f4f6-a3c2-4d70-bbd8-24fbb5d9772f_verboseLabel_es" xlink:label="lab_san_OtrosIngresosOperativos" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Ingresos, Operativos</link:label>
    <link:label id="lab_san_OtrosIngresosOperativos_label_es" xlink:label="lab_san_OtrosIngresosOperativos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Ingresos, Operativos</link:label>
    <link:label id="lab_san_OtrosIngresosOperativos_documentation_es" xlink:label="lab_san_OtrosIngresosOperativos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Ingresos, Operativos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosIngresosOperativos" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosIngresosOperativos"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrosIngresosOperativos" xlink:to="lab_san_OtrosIngresosOperativos" xlink:type="arc" order="1"/>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosACosteAmortizado_d638fb0d-eb21-4896-af03-fc32ff73cd53_verboseLabel_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosACosteAmortizado" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminución) Neta De Los Pasivos De Explotación, Pasivos Financieros A Coste Amortizado</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosACosteAmortizado_label_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosACosteAmortizado" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Pasivos De Explotacion, Pasivos Financieros A Coste Amortizado</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosACosteAmortizado_documentation_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosACosteAmortizado" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Pasivos De Explotacion, Pasivos Financieros A Coste Amortizado</link:label>
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    <link:label id="lab_san_CuestionesProcesalesYLitigiosPorImpuestosPendientesMember_dfccc24b-087a-454d-bf57-88a8fd8df31f_terseLabel_es" xlink:label="lab_san_CuestionesProcesalesYLitigiosPorImpuestosPendientesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuestiones Procesales Y Litigios Por Impuestos Pendientes [Member]</link:label>
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    <link:label id="lab_san_CuestionesProcesalesYLitigiosPorImpuestosPendientesMember_documentation_es" xlink:label="lab_san_CuestionesProcesalesYLitigiosPorImpuestosPendientesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cuestiones Procesales Y Litigios Por Impuestos Pendientes</link:label>
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    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember_b47d0ca9-a5c2-48d5-bdf5-1ed10d0ff6e3_terseLabel_es" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros al valor razonable con cambios en resultados, categoría [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:to="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles_5a5fff50-4eca-4472-b531-6d80d1581fd5_verboseLabel_es" xlink:label="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pérdida Por Deterioro O Reversión Del Deterioro Reconocido En Resultados, Activos Tangibles</link:label>
    <link:label id="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles_label_es" xlink:label="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Perdida Por Deterioro O Reversion Del Deterioro Reconocido En Resultados, Activos Tangibles</link:label>
    <link:label id="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles_documentation_es" xlink:label="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Perdida Por Deterioro O Reversion Del Deterioro Reconocido En Resultados, Activos Tangibles</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles" xlink:to="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosActivosTangibles" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AccumulatedOtherComprehensiveIncome_f453db85-ad7a-48a7-ad40-da05ed8969ee_totalLabel_es" xlink:label="lab_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global acumulado</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="lab_ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember_b5ff5bd5-4ef5-4d60-92ef-1ea34deccd2c_terseLabel_es" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros al valor razonable con cambios en otro resultado global, categoría [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:to="lab_ifrs-full_FinancialAssetsAtFairValueThroughOtherComprehensiveIncomeCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado_76bff916-bfa5-403d-8336-d30feb79c161_verboseLabel_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminución) Neta De Los Activos De Explotación, Activos Financieros A Coste Amortizado</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado_label_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Activos De Explotacion, Activos Financieros A Coste Amortizado</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado_documentation_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Activos De Explotacion, Activos Financieros A Coste Amortizado</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado" xlink:to="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacionActivosFinancierosACosteAmortizado" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_RevaluationSurplus_523da3e9-5eee-4d8b-b062-0022c6280278_verboseLabel_es" xlink:label="lab_ifrs-full_RevaluationSurplus" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reserva por revalorización</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_RevaluationSurplus" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_RevaluationSurplus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RevaluationSurplus" xlink:to="lab_ifrs-full_RevaluationSurplus" xlink:type="arc" order="1"/>
    <link:label id="lab_san_DepositosBancosCentralesMember_415dceb5-7277-40ef-936f-9599ba6c84d4_terseLabel_es" xlink:label="lab_san_DepositosBancosCentralesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depósitos, Bancos Centrales [Member]</link:label>
    <link:label id="lab_san_DepositosBancosCentralesMember_label_es" xlink:label="lab_san_DepositosBancosCentralesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos, Bancos Centrales [Member]</link:label>
    <link:label id="lab_san_DepositosBancosCentralesMember_documentation_es" xlink:label="lab_san_DepositosBancosCentralesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos, Bancos Centrales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_DepositosBancosCentralesMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_DepositosBancosCentralesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_DepositosBancosCentralesMember" xlink:to="lab_san_DepositosBancosCentralesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtAmortisedCost_173ba463-d9d7-46ed-879b-f2b7d51d0643_terseLabel_es" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros al coste amortizado</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:to="lab_ifrs-full_FinancialLiabilitiesAtAmortisedCost" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Liabilities_167eb219-c06d-41a6-9e24-276329a65473_totalLabel_es" xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Liabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Liabilities" xlink:to="lab_ifrs-full_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_7f90a57b-1a26-4166-85ba-1169e9f4b4ca_verboseLabel_es" xlink:label="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (pérdidas) por diferencias de cambio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_san_DepositosClientelaMember_a42f20e8-84be-4c2e-a50b-da5370b9e8fa_terseLabel_es" xlink:label="lab_san_DepositosClientelaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depósitos, Clientela [Member]</link:label>
    <link:label id="lab_san_DepositosClientelaMember_label_es" xlink:label="lab_san_DepositosClientelaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos, Clientela [Member]</link:label>
    <link:label id="lab_san_DepositosClientelaMember_documentation_es" xlink:label="lab_san_DepositosClientelaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos, Clientela</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_DepositosClientelaMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_DepositosClientelaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_DepositosClientelaMember" xlink:to="lab_san_DepositosClientelaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_c9070cc1-d8f1-4b16-8099-b6cb2db26e13_verboseLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global, atribuible a participaciones no dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="lab_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DilutedEarningsLossPerShare_66b0a259-fa0b-445b-9e9f-090b8f802665_terseLabel_es" xlink:label="lab_ifrs-full_DilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (pérdidas) por acción diluidas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DilutedEarningsLossPerShare" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DilutedEarningsLossPerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DilutedEarningsLossPerShare" xlink:to="lab_ifrs-full_DilutedEarningsLossPerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesMember_9332e162-f4c4-462b-b552-d96d94138b38_terseLabel_es" xlink:label="lab_ifrs-full_FinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros, clase [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesMember" xlink:to="lab_ifrs-full_FinancialLiabilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_e3822b21-2781-4731-a500-4cd016f6bbd7_terseLabel_es" xlink:label="lab_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dividendos pagados a participaciones no dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:to="lab_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_san_DividendosACuenta_843fbe10-1a2b-4aba-ac6c-a56a21b720ee_verboseLabel_es" xlink:label="lab_san_DividendosACuenta" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dividendos A Cuenta</link:label>
    <link:label id="lab_san_DividendosACuenta_label_es" xlink:label="lab_san_DividendosACuenta" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dividendos A Cuenta</link:label>
    <link:label id="lab_san_DividendosACuenta_documentation_es" xlink:label="lab_san_DividendosACuenta" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Componentes De Capital, Dividendos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_DividendosACuenta" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_DividendosACuenta"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_DividendosACuenta" xlink:to="lab_san_DividendosACuenta" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments_df81c1b0-6426-4499-ab65-8fe3a7fba3fd_verboseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, antes de impuestos, ganancias (pérdidas) de inversiones en instrumentos de patrimonio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Goodwill_4b52f664-8828-42da-b526-60fbbae96bdb_terseLabel_es" xlink:label="lab_ifrs-full_Goodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Fondo de comercio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Goodwill" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Goodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Goodwill" xlink:to="lab_ifrs-full_Goodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InterestRevenueExpense_c045dd96-f19b-4aa6-bb87-ee050d26283e_totalLabel_es" xlink:label="lab_ifrs-full_InterestRevenueExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ingresos (gastos) por intereses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InterestRevenueExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InterestRevenueExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestRevenueExpense" xlink:to="lab_ifrs-full_InterestRevenueExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantes_02d64c49-3809-4c1b-9121-89758d2f0acc_terseLabel_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantes_label_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherLiabilities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherLiabilities"/>
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    <link:label id="lab_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax_41bdbb19-0393-46e4-866c-58034522cae2_terseLabel_es" xlink:label="lab_ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por reclasificación relativos a diferencias de cambio en la conversión, antes de impuestos</link:label>
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    <link:label id="lab_ifrs-full_NameOfUltimateParentOfGroup_4cb97c98-d184-4d6e-ad39-5fabbf8ff3a0_verboseLabel_es" xlink:label="lab_ifrs-full_NameOfUltimateParentOfGroup" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Nombre de la dominante ultima del grupo</link:label>
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    <link:label id="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActual_d2e1f7c8-6595-463c-ad98-37cf43df7259_terseLabel_es" xlink:label="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActual" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias Acumuladas, Excluidas Las Ganancias Del Periodo Actual</link:label>
    <link:label id="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActual_label_es" xlink:label="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActual" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias Acumuladas, Excluidas Las Ganancias Del Periodo Actual</link:label>
    <link:label id="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActual_documentation_es" xlink:label="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActual" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias Acumuladas, Excluidas Las Ganancias Del Periodo Actual</link:label>
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    <link:label id="lab_san_PrestamosYAnticiposMember_31168c49-cefc-4197-99b4-182e600bd460_verboseLabel_es" xlink:label="lab_san_PrestamosYAnticiposMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Préstamos Y Anticipos [Member]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposMember_label_es" xlink:label="lab_san_PrestamosYAnticiposMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prestamos Y Anticipos [Member]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposMember_documentation_es" xlink:label="lab_san_PrestamosYAnticiposMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Préstamos y anticipos [Member]</link:label>
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    <link:label id="lab_san_CapitalNoDesembolsadoExigido_7bf23485-f313-4d0c-a2d6-14d469b3d3e3_terseLabel_es" xlink:label="lab_san_CapitalNoDesembolsadoExigido" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Capital No Desembolsado Exigido</link:label>
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    <link:label id="lab_san_CapitalNoDesembolsadoExigido_documentation_es" xlink:label="lab_san_CapitalNoDesembolsadoExigido" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Capital No Desembolsado Exigido</link:label>
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    <link:label id="lab_ifrs-full_IntangibleAssetsAndGoodwill_2887e70b-04a4-45cc-9a3d-29e94cc077ad_totalLabel_es" xlink:label="lab_ifrs-full_IntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos intangibles y fondo de comercio</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="lab_ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesCategoryMember_878214ec-4462-4359-aa3e-a4ad74588420_terseLabel_es" xlink:label="lab_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros, categoría [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilitiesCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:to="lab_ifrs-full_FinancialLiabilitiesCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_c38919f5-2474-4373-8a8c-6d8379f2997c_verboseLabel_es" xlink:label="lab_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Adquisición de activos intangibles, clasificada como actividades de inversión</link:label>
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    <link:label id="lab_san_OtrosElementosExcluyendoElResultadoGlobalAcumuladoParticipacionesNoDominantes_56e8c6dc-960e-4424-b209-c98ed97c13c4_terseLabel_es" xlink:label="lab_san_OtrosElementosExcluyendoElResultadoGlobalAcumuladoParticipacionesNoDominantes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Elementos Excluyendo El Resultado Global Acumulado, Participaciones No Dominantes</link:label>
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    <link:label id="lab_ifrs-full_CashAndCashEquivalents_85a56721-f87a-4618-9a68-3f3ed86cf8f7_periodStartLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes al inicio del ejercicio</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_a985bce4-4529-48c2-8f0e-31ecdde4c22e_periodEndLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes al final del ejercicio</link:label>
    <link:label id="lab_ifrs-full_CashAndCashEquivalents_743ccd65-fed6-4452-af60-7d801dcc73ee_totalLabel_es" xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo y equivalentes al efectivo</link:label>
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    <link:label id="lab_san_DepositosMember_ae9fdb9b-e1c8-489a-bc4f-3e03d4193996_verboseLabel_es" xlink:label="lab_san_DepositosMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depósitos [Member]</link:label>
    <link:label id="lab_san_DepositosMember_label_es" xlink:label="lab_san_DepositosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos [Member]</link:label>
    <link:label id="lab_san_DepositosMember_documentation_es" xlink:label="lab_san_DepositosMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_DepositosMember" xlink:to="lab_san_DepositosMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_fb4d2e6e-3474-42f6-9237-fd9211ecc93b_terseLabel_es" xlink:label="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pagos (devoluciones) de los impuestos sobre las ganancias, clasificados como actividades de explotación</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="lab_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacion_c0aa3bb3-2157-4f37-920d-28e4c00074a7_terseLabel_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacion" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminución) Neta De Los Activos De Explotación</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacion_label_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Activos De Explotacion</link:label>
    <link:label id="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacion_documentation_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminucion) Neta De Los Activos De Explotacion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_AumentoDisminucionNetaDeLosActivosDeExplotacion" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_AumentoDisminucionNetaDeLosActivosDeExplotacion"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_AumentoDisminucionNetaDeLosActivosDeExplotacion" xlink:to="lab_san_AumentoDisminucionNetaDeLosActivosDeExplotacion" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments_c5178b12-fb5a-4938-8c96-515a93db7057_verboseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro resultado global, antes de impuestos, ganancias (pérdidas) en instrumentos de cobertura que cubren inversiones en instrumentos de patrimonio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxGainsLossesOnHedgingInstrumentsThatHedgeInvestmentsInEquityInstruments"/>
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    <link:label id="lab_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities_871517b8-1a83-4986-b5fd-45c9c02a2eb4_verboseLabel_es" xlink:label="lab_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras entradas (salidas) de efectivo, clasificadas como actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados_8ebbcacd-ac49-4629-8768-d817dc300410_verboseLabel_es" xlink:label="lab_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Transferido A Resultados, Instrumentos De Cobertura (Elementos No Designados)</link:label>
    <link:label id="lab_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados_label_es" xlink:label="lab_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Transferido A Resultados, Instrumentos De Cobertura (Elementos No Designados)</link:label>
    <link:label id="lab_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados_documentation_es" xlink:label="lab_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Transferido A Resultados, Instrumentos De Cobertura (Elementos No Designados)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados" xlink:to="lab_san_TransferidoAResultadosInstrumentosDeCoberturaElementosNoDesignados" xlink:type="arc" order="1"/>
    <link:label id="lab_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas_1187e533-a362-4dab-80b5-1af261f37e3e_verboseLabel_es" xlink:label="lab_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reservas O Pérdidas Acumuladas De Inversiones En Negocios Conjuntos Y Asociadas</link:label>
    <link:label id="lab_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas_label_es" xlink:label="lab_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reservas O Perdidas Acumuladas De Inversiones En Negocios Conjuntos Y Asociadas</link:label>
    <link:label id="lab_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas_documentation_es" xlink:label="lab_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reservas O Perdidas Acumuladas De Inversiones En Negocios Conjuntos Y Asociadas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas" xlink:to="lab_san_ReservasOPerdidasAcumuladasDeInversionesEnNegociosConjuntosYAsociadas" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal_faa3c451-a6e8-41d6-846c-e24a3ff420e9_terseLabel_es" xlink:label="lab_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Variaciones del Patrimonio neto, distintos al Resultado Global</link:label>
    <link:label id="lab_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal_label_es" xlink:label="lab_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Variaciones del Patrimonio neto, distintos al Resultado Global</link:label>
    <link:label id="lab_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal_documentation_es" xlink:label="lab_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Variaciones del Patrimonio neto, distintos al Resultado Global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal" xlink:to="lab_san_OtrasVariacionesDelPatrimonioNetoDistintosAlResultadoGlobal" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember_1c849511-9972-47b6-82cf-14e504e06a02_verboseLabel_es" xlink:label="lab_san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Elementos Excluyendo Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes [Member]</link:label>
    <link:label id="lab_san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember_label_es" xlink:label="lab_san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Elementos Excluyendo Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes [Member]</link:label>
    <link:label id="lab_san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember_documentation_es" xlink:label="lab_san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Elementos Excluyendo Otro Resultado Global Acumulado Atribuible A Participaciones No Dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosElementosExcluyendoOtroResultadoGlobalAcumuladoAtribuibleAParticipacionesNoDominantesMember"/>
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    <link:label id="lab_san_PrestamosYAnticiposClientelaMember_f06b9ee8-0099-4d05-b069-9d481cc0f266_terseLabel_es" xlink:label="lab_san_PrestamosYAnticiposClientelaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Préstamos Y Anticipos, Clientela [Member]]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposClientelaMember_label_es" xlink:label="lab_san_PrestamosYAnticiposClientelaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prestamos Y Anticipos, Clientela [Member]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposClientelaMember_documentation_es" xlink:label="lab_san_PrestamosYAnticiposClientelaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prestamos Y Anticipos, Clientela</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_PrestamosYAnticiposClientelaMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_PrestamosYAnticiposClientelaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_PrestamosYAnticiposClientelaMember" xlink:to="lab_san_PrestamosYAnticiposClientelaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsUnderInsuranceContractsAndReinsuranceContractsIssued_dfc248ad-df9a-431b-b1a7-10f36c0bea8f_terseLabel_es" xlink:label="lab_ifrs-full_AssetsUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos por contratos de seguro y contratos de reaseguro emitidos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssetsUnderInsuranceContractsAndReinsuranceContractsIssued"/>
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    <link:label id="lab_ifrs-full_PrincipalPlaceOfBusiness_ddae99a7-3548-40ff-8e71-a5b7c531f187_verboseLabel_es" xlink:label="lab_ifrs-full_PrincipalPlaceOfBusiness" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Centro principal de actividad</link:label>
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    <link:label id="lab_ifrs-full_LoanCommitmentsMember_b3274fd7-5ddc-4dd2-986e-e84a3330e096_terseLabel_es" xlink:label="lab_ifrs-full_LoanCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Compromisos de préstamo [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LoanCommitmentsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LoanCommitmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LoanCommitmentsMember" xlink:to="lab_ifrs-full_LoanCommitmentsMember" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToAbstract"/>
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    <link:label id="lab_ifrs-full_AssetsAbstract_bf693450-955e-48cf-9f55-97c61206efbe_terseLabel_es" xlink:label="lab_ifrs-full_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAbstract" xlink:to="lab_ifrs-full_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfCashFlowsAbstract_04bb9183-6b20-440f-956a-e7a19c53fe0e_terseLabel_es" xlink:label="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Statement of cash flows placeholder - this item MUST be used as a starting point for the statement of cash flows</link:label>
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    <link:label id="lab_san_OtrasGananciasOPerdidasMember_7d9ab5a4-f76d-406f-8291-5714664440ab_verboseLabel_es" xlink:label="lab_san_OtrasGananciasOPerdidasMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Ganancias O Pérdidas [Member]</link:label>
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    <link:label id="lab_san_OtrasGananciasOPerdidasMember_documentation_es" xlink:label="lab_san_OtrasGananciasOPerdidasMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Ganancias O Perdidas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrasGananciasOPerdidasMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrasGananciasOPerdidasMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrasGananciasOPerdidasMember" xlink:to="lab_san_OtrasGananciasOPerdidasMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsAtAmortisedCost_85d23ff4-cfce-49ba-854f-57c8998882d9_terseLabel_es" xlink:label="lab_ifrs-full_FinancialAssetsAtAmortisedCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros al coste amortizado</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtAmortisedCost" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtAmortisedCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsAtAmortisedCost" xlink:to="lab_ifrs-full_FinancialAssetsAtAmortisedCost" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfProvisionsAxis_674d192a-e6e9-40ec-9cb4-4d4a53cc4b0c_terseLabel_es" xlink:label="lab_ifrs-full_ClassesOfProvisionsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Clases de otras provisiones [eje]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfProvisionsAxis" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfProvisionsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfProvisionsAxis" xlink:to="lab_ifrs-full_ClassesOfProvisionsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities_3e8e0873-1980-4a09-b9db-c1bfe12acaec_verboseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de financiación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities"/>
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    <link:label id="lab_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember_8c8699aa-e72f-4380-9631-831514bb9c82_terseLabel_es" xlink:label="lab_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Retribuciones A Los Empleados A Largo Plazo [Member]</link:label>
    <link:label id="lab_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember_label_es" xlink:label="lab_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Retribuciones A Los Empleados A Largo Plazo [Member]</link:label>
    <link:label id="lab_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember_documentation_es" xlink:label="lab_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Retribuciones A Los Empleados A Largo Plazo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrasRetribucionesALosEmpleadosALargoPlazoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember" xlink:to="lab_san_OtrasRetribucionesALosEmpleadosALargoPlazoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod_dd358f65-2ebb-43ba-acdb-8b1a1736958c_totalLabel_es" xlink:label="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Inversiones contabilizadas utilizando el método de la participación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="lab_ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:type="arc" order="1"/>
    <link:label id="lab_san_GananciasOPerdidasNetasDeContabilidadDeCobertura_9801a781-b909-4b57-8b70-5c8d497dd5cf_verboseLabel_es" xlink:label="lab_san_GananciasOPerdidasNetasDeContabilidadDeCobertura" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias O Pérdidas Netas De Contabilidad De Cobertura</link:label>
    <link:label id="lab_san_GananciasOPerdidasNetasDeContabilidadDeCobertura_label_es" xlink:label="lab_san_GananciasOPerdidasNetasDeContabilidadDeCobertura" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias O Perdidas Netas De Contabilidad De Cobertura</link:label>
    <link:label id="lab_san_GananciasOPerdidasNetasDeContabilidadDeCobertura_documentation_es" xlink:label="lab_san_GananciasOPerdidasNetasDeContabilidadDeCobertura" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias O Pérdidas Netas De Contabilidad De Cobertura</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_GananciasOPerdidasNetasDeContabilidadDeCobertura" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_GananciasOPerdidasNetasDeContabilidadDeCobertura"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_GananciasOPerdidasNetasDeContabilidadDeCobertura" xlink:to="lab_san_GananciasOPerdidasNetasDeContabilidadDeCobertura" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAbstract_7ff0806a-3b71-4598-b702-7235c609b2d2_terseLabel_es" xlink:label="lab_ifrs-full_ProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Profit (loss) [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAbstract" xlink:to="lab_ifrs-full_ProfitLossAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember_5c66c803-b866-41e3-9ecb-12cb90092ebc_terseLabel_es" xlink:label="lab_san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Financieros No Destinados A Negociación Valorados Obligatoriamente A Valor Razonable Con Cambios En Resultados</link:label>
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    <link:label id="lab_san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember_documentation_es" xlink:label="lab_san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Financieros No Destinados A Negociacion Valorados Obligatoriamente A Valor Razonable Con Cambios En Resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember" xlink:to="lab_san_ActivosFinancierosNoDestinadosANegociacionValoradosObligatoriamenteAValorRazonableConCambiosEnResultadosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_LegalFormOfEntity_3f708988-1e4e-4cec-8340-5d317d562854_verboseLabel_es" xlink:label="lab_ifrs-full_LegalFormOfEntity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Forma juridica de la entidad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LegalFormOfEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LegalFormOfEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LegalFormOfEntity" xlink:to="lab_ifrs-full_LegalFormOfEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncome_94a1972b-dc91-4c87-aaf4-559c4ead11e5_totalLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global</link:label>
    <link:label id="lab_ifrs-full_ComprehensiveIncome_80a75534-4b5c-4390-abf1-aa12e365de4e_verboseLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncome" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncome" xlink:to="lab_ifrs-full_ComprehensiveIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto_41528d37-72c9-4399-ae29-1b72ef3f7d12_verboseLabel_es" xlink:label="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pérdida Por Deterioro O Reversión Del Deterioro reconocido En Resultados Otros Activos No Financieros, Neto</link:label>
    <link:label id="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto_label_es" xlink:label="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Perdida Por Deterioro O Reversion Del Deterioro reconocido En Resultados Otros Activos No Financieros, Neto</link:label>
    <link:label id="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto_documentation_es" xlink:label="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pérdida Por Deterioro O Reversión Del Deterioro reconocido En Resultados Otros Activos No Financieros, Neto</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto" xlink:to="lab_san_PerdidaPorDeterioroOReversionDelDeterioroReconocidoEnResultadosOtrosActivosNoFinancierosNeto" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember_2796d253-ccd6-4be5-91f3-30e1b95deea6_terseLabel_es" xlink:label="lab_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros al valor razonable con cambios en resultados, categoría [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossCategoryMember"/>
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    <link:label id="lab_san_OtrasReservas_documentation_es" xlink:label="lab_san_OtrasReservas" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Reservas Misceláneas</link:label>
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    <link:label id="lab_ifrs-full_ClassesOfFinancialAssetsAxis_09746624-a9cf-4cd9-8677-048e86e28a1a_terseLabel_es" xlink:label="lab_ifrs-full_ClassesOfFinancialAssetsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Clases de activos financieros [eje]</link:label>
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    <link:label id="lab_ifrs-full_PropertyPlantAndEquipmentByOperatingLeaseStatusMember_f8409580-b795-4944-b490-80ee38585fad_terseLabel_es" xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentByOperatingLeaseStatusMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Inmovilizado material, por situación de arrendamiento operativo [miembro]</link:label>
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    <link:label id="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalElementoCubierto_label_es" xlink:label="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalElementoCubierto" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambios del valor razonable de los instrumentos de patrimonio valorados a valor razonable con cambios en otro resultado global (elemento cubierto)</link:label>
    <link:label id="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalElementoCubierto_documentation_es" xlink:label="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalElementoCubierto" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambios del valor razonable de los instrumentos de patrimonio valorados a valor razonable con cambios en otro resultado global (elemento cubierto)</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalElementoCubierto" xlink:to="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalElementoCubierto" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherComprehensiveIncomeAbstract_9049627c-2f91-44c8-b0e8-a3313453908f_terseLabel_es" xlink:label="lab_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Other comprehensive income [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_san_PrestamosYAnticiposBancosCentralesMember_9ca05f63-6d31-4840-8bef-f94100fd0b5e_verboseLabel_es" xlink:label="lab_san_PrestamosYAnticiposBancosCentralesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Préstamos Y Anticipos, Bancos Centrales [Member]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposBancosCentralesMember_label_es" xlink:label="lab_san_PrestamosYAnticiposBancosCentralesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prestamos Y Anticipos, Bancos Centrales [Member]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposBancosCentralesMember_documentation_es" xlink:label="lab_san_PrestamosYAnticiposBancosCentralesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prestamos Y Anticipos, Bancos Centrales</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_PrestamosYAnticiposBancosCentralesMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_PrestamosYAnticiposBancosCentralesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_PrestamosYAnticiposBancosCentralesMember" xlink:to="lab_san_PrestamosYAnticiposBancosCentralesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherEquityInterest_7148dafb-d701-434c-852e-0b53089ef5d9_verboseLabel_es" xlink:label="lab_ifrs-full_OtherEquityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras participaciones en el patrimonio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherEquityInterest" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherEquityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherEquityInterest" xlink:to="lab_ifrs-full_OtherEquityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PropertyPlantAndEquipment_e5c69996-356b-4ac3-84f8-1a1d896e2909_terseLabel_es" xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Inmovilizado material</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PropertyPlantAndEquipment" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PropertyPlantAndEquipment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipment" xlink:to="lab_ifrs-full_PropertyPlantAndEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis_ca165908-76f6-4155-bf98-ea4c8f3e2c27_terseLabel_es" xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Clases de pasivos financieros [eje]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:to="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_4953ed7f-16c7-430b-a497-2cb0282c5c3e_terseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cash flows from (used in) operating activities [abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosCompromisosConcedidosMember_f8dc2244-f42a-497e-b1a3-bc1d0ca22897_terseLabel_es" xlink:label="lab_san_OtrosCompromisosConcedidosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Compromisos Concedidos [Member]</link:label>
    <link:label id="lab_san_OtrosCompromisosConcedidosMember_label_es" xlink:label="lab_san_OtrosCompromisosConcedidosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Compromisos Concedidos [Member]</link:label>
    <link:label id="lab_san_OtrosCompromisosConcedidosMember_documentation_es" xlink:label="lab_san_OtrosCompromisosConcedidosMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Compromisos Concedidos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosCompromisosConcedidosMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosCompromisosConcedidosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrosCompromisosConcedidosMember" xlink:to="lab_san_OtrosCompromisosConcedidosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_f73ccea6-b4ee-48fd-87f5-b63bcb95cd8b_terseLabel_es" xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Resultado global, atribuible a propietarios de la dominante</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent"/>
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    <link:label id="lab_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados_3de4cb2a-133b-4cf3-a94b-7528895f8e82_terseLabel_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado, Elementos Que Pueden Reclasificarse En Resultados</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados_label_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado, Elementos Que Pueden Reclasificarse En Resultados</link:label>
    <link:label id="lab_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados_documentation_es" xlink:label="lab_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otro Resultado Global Acumulado, Elementos Que Pueden Reclasificarse En Resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados" xlink:to="lab_san_OtroResultadoGlobalAcumuladoElementosQuePuedenReclasificarseEnResultados" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityAbstract_8cc9190c-05b8-4a0a-9ee1-408d945f3467_terseLabel_es" xlink:label="lab_ifrs-full_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto [resumen]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAbstract" xlink:to="lab_ifrs-full_EquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosPasivosFinancierosMember_f3edd4df-ba8a-4eb4-8c8b-59f05f1ca0bc_terseLabel_es" xlink:label="lab_san_OtrosPasivosFinancierosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Pasivos Financieros [Member]</link:label>
    <link:label id="lab_san_OtrosPasivosFinancierosMember_label_es" xlink:label="lab_san_OtrosPasivosFinancierosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Pasivos Financieros [Member]</link:label>
    <link:label id="lab_san_OtrosPasivosFinancierosMember_documentation_es" xlink:label="lab_san_OtrosPasivosFinancierosMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Pasivos Financieros</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosPasivosFinancierosMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosPasivosFinancierosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrosPasivosFinancierosMember" xlink:to="lab_san_OtrosPasivosFinancierosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_san_AdquisicionDeInstrumentosDePatrimonioPropio_06050e73-7754-4f3f-b401-448d6edb069e_verboseLabel_es" xlink:label="lab_san_AdquisicionDeInstrumentosDePatrimonioPropio" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Adquisición De Instrumentos De Patrimonio Propio</link:label>
    <link:label id="lab_san_AdquisicionDeInstrumentosDePatrimonioPropio_label_es" xlink:label="lab_san_AdquisicionDeInstrumentosDePatrimonioPropio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Adquisicion De Instrumentos De Patrimonio Propio</link:label>
    <link:label id="lab_san_AdquisicionDeInstrumentosDePatrimonioPropio_documentation_es" xlink:label="lab_san_AdquisicionDeInstrumentosDePatrimonioPropio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Adquisicion De Instrumentos De Patrimonio Propio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_AdquisicionDeInstrumentosDePatrimonioPropio" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_AdquisicionDeInstrumentosDePatrimonioPropio"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_AdquisicionDeInstrumentosDePatrimonioPropio" xlink:to="lab_san_AdquisicionDeInstrumentosDePatrimonioPropio" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests_4a30b9fa-c942-42b1-b261-eeee0fd7d1a3_terseLabel_es" xlink:label="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancia (pérdida), atribuible a participaciones no dominantes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="lab_ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:type="arc" order="1"/>
    <link:label id="lab_san_DepositosEntidadesDeCreditoMember_6742f4e8-efe5-4466-8088-b2e2ab49fc28_terseLabel_es" xlink:label="lab_san_DepositosEntidadesDeCreditoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depósitos, Entidades de Crédito [Member]</link:label>
    <link:label id="lab_san_DepositosEntidadesDeCreditoMember_label_es" xlink:label="lab_san_DepositosEntidadesDeCreditoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos, Entidades de Credito [Member]</link:label>
    <link:label id="lab_san_DepositosEntidadesDeCreditoMember_documentation_es" xlink:label="lab_san_DepositosEntidadesDeCreditoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Depositos, Entidades de Credito</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_DepositosEntidadesDeCreditoMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_DepositosEntidadesDeCreditoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_DepositosEntidadesDeCreditoMember" xlink:to="lab_san_DepositosEntidadesDeCreditoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NameOfParentEntity_504c90ad-5eb1-4f7f-a73b-a13481959d02_verboseLabel_es" xlink:label="lab_ifrs-full_NameOfParentEntity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Nombre de la dominante</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NameOfParentEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NameOfParentEntity"/>
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    <link:label id="lab_san_OtrosGastosOperativos_a82bd471-463a-4604-95e1-eb7a2c8788b6_verboseLabel_es" xlink:label="lab_san_OtrosGastosOperativos" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Gastos, Operativos</link:label>
    <link:label id="lab_san_OtrosGastosOperativos_label_es" xlink:label="lab_san_OtrosGastosOperativos" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Gastos, Operativos</link:label>
    <link:label id="lab_san_OtrosGastosOperativos_documentation_es" xlink:label="lab_san_OtrosGastosOperativos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Gastos, Operativos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosGastosOperativos" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosGastosOperativos"/>
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    <link:label id="lab_san_OtrosInstrumentosQueNoSonDeCapitalMember_documentation_es" xlink:label="lab_san_OtrosInstrumentosQueNoSonDeCapitalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Instrumentos Que No Son De Capital</link:label>
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    <link:label id="lab_san_ProvisionesYReversionDeProvisiones_documentation_es" xlink:label="lab_san_ProvisionesYReversionDeProvisiones" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Provisiones Y Reversion De Provisiones</link:label>
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    <link:label id="lab_ifrs-full_CountryOfIncorporation_70da7623-e68c-4478-92dc-cddd3a58c45b_verboseLabel_es" xlink:label="lab_ifrs-full_CountryOfIncorporation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pais de constitucion</link:label>
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    <link:label id="lab_ifrs-full_OtherReservesMember_2da99451-e76d-4802-9f5c-a2402619887b_verboseLabel_es" xlink:label="lab_ifrs-full_OtherReservesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras reservas [miembro]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityInvestmentsMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityInvestmentsMember"/>
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    <link:label id="lab_san_ActivosPorImpuestos_documentation_es" xlink:label="lab_san_ActivosPorImpuestos" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos Por Impuestos</link:label>
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    <link:label id="lab_ifrs-full_InvestmentProperty_a855b30e-6086-49e5-8716-092daa3bc0d4_terseLabel_es" xlink:label="lab_ifrs-full_InvestmentProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Inversiones inmobiliarias</link:label>
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    <link:label id="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActualMember_a63b56ef-f23f-4d5f-b2da-7d9f1863e63d_terseLabel_es" xlink:label="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActualMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias Acumuladas, Excluidas Las Ganancias Del Período Actual [Member]</link:label>
    <link:label id="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActualMember_label_es" xlink:label="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActualMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias Acumuladas, Excluidas Las Ganancias Del Periodo Actual [Member]</link:label>
    <link:label id="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActualMember_documentation_es" xlink:label="lab_san_GananciasAcumuladasExcluidasLasGananciasDelPeriodoActualMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias Acumuladas, Excluidas Las Ganancias Del Periodo Actual</link:label>
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    <link:label id="lab_san_CapitalDesembolsado_label_es" xlink:label="lab_san_CapitalDesembolsado" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Capital Desembolsado</link:label>
    <link:label id="lab_san_CapitalDesembolsado_documentation_es" xlink:label="lab_san_CapitalDesembolsado" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Capital Desembolsado</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_CapitalDesembolsado" xlink:to="lab_san_CapitalDesembolsado" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ClassesOfFinancialInstrumentsAxis_3c9486cd-5859-4e73-bfb0-651535652e8d_terseLabel_es" xlink:label="lab_ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Clases de instrumentos financieros [eje]</link:label>
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    <link:label id="lab_ifrs-full_LiabilitiesArisingFromInsuranceContracts_72723162-095e-441f-a7b8-3c77c28412c5_terseLabel_es" xlink:label="lab_ifrs-full_LiabilitiesArisingFromInsuranceContracts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos por contratos de seguro y contratos de reaseguro emitidos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_LiabilitiesArisingFromInsuranceContracts" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_LiabilitiesArisingFromInsuranceContracts"/>
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    <link:label id="lab_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations_abe20ab5-b19d-4d08-8420-bbc7ecdbbf63_verboseLabel_es" xlink:label="lab_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cobros por la enajenación o disposición por otra vía de activos no corrientes o grupos enajenables de elementos clasificados como mantenidos para la venta y actividades interrumpidas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ProceedsFromDisposalOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperations"/>
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    <link:label id="lab_san_TransferenciasEntreComponentesDelPatrimonioNeto_fc161575-5362-4914-bcdf-9b8de61b112f_verboseLabel_es" xlink:label="lab_san_TransferenciasEntreComponentesDelPatrimonioNeto" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Transferencias Entre Componentes Del Patrimonio Neto</link:label>
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    <link:label id="lab_san_TransferenciasEntreComponentesDelPatrimonioNeto_documentation_es" xlink:label="lab_san_TransferenciasEntreComponentesDelPatrimonioNeto" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Transferencias Entre Componentes Del Patrimonio Neto</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_TransferenciasEntreComponentesDelPatrimonioNeto" xlink:to="lab_san_TransferenciasEntreComponentesDelPatrimonioNeto" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_EquityMember_b98b7de6-9a9b-4ec6-acb8-0d09247007bb_verboseLabel_es" xlink:label="lab_ifrs-full_EquityMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Patrimonio neto [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_EquityMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_EquityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityMember" xlink:to="lab_ifrs-full_EquityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax_b82c3df4-97f5-49e7-88eb-c38e2c3ca4c4_verboseLabel_es" xlink:label="lab_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias (pérdidas) por diferencias de cambio en la conversión, antes de impuestos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationBeforeTax"/>
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    <link:label id="lab_ifrs-full_ReductionOfIssuedCapital_81c3237b-d004-41ab-a0ea-6422a248c1ad_verboseLabel_es" xlink:label="lab_ifrs-full_ReductionOfIssuedCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Reducción del capital emitido</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ReductionOfIssuedCapital" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ReductionOfIssuedCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReductionOfIssuedCapital" xlink:to="lab_ifrs-full_ReductionOfIssuedCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AssetsAndLiabilitiesAxis_c68bb124-008e-4de0-a094-7623905037d4_verboseLabel_es" xlink:label="lab_ifrs-full_AssetsAndLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos y pasivos [eje]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AssetsAndLiabilitiesAxis" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AssetsAndLiabilitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAndLiabilitiesAxis" xlink:to="lab_ifrs-full_AssetsAndLiabilitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosPagosRelacionadosConActividadesDeInversion_9244b882-0e44-4d74-b79c-647946c12cfd_verboseLabel_es" xlink:label="lab_san_OtrosPagosRelacionadosConActividadesDeInversion" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Pagos Relacionados Con Actividades De Inversión</link:label>
    <link:label id="lab_san_OtrosPagosRelacionadosConActividadesDeInversion_label_es" xlink:label="lab_san_OtrosPagosRelacionadosConActividadesDeInversion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Pagos Relacionados Con Actividades De Inversion</link:label>
    <link:label id="lab_san_OtrosPagosRelacionadosConActividadesDeInversion_documentation_es" xlink:label="lab_san_OtrosPagosRelacionadosConActividadesDeInversion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Pagos Relacionados Con Actividades De Inversion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_OtrosPagosRelacionadosConActividadesDeInversion" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_OtrosPagosRelacionadosConActividadesDeInversion"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrosPagosRelacionadosConActividadesDeInversion" xlink:to="lab_san_OtrosPagosRelacionadosConActividadesDeInversion" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_PurchaseOfTreasuryShares_7a42c064-c12d-4a80-a51d-76e9e5c2c70a_verboseLabel_es" xlink:label="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Adquisición de acciones propias</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_PurchaseOfTreasuryShares" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_PurchaseOfTreasuryShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfTreasuryShares" xlink:to="lab_ifrs-full_PurchaseOfTreasuryShares" xlink:type="arc" order="1"/>
    <link:label id="lab_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion_c0031289-0c82-4821-ad81-98d4c60ba721_terseLabel_es" xlink:label="lab_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Cobros Relacionados Con Actividades De Financiación</link:label>
    <link:label id="lab_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion_label_es" xlink:label="lab_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Cobros Relacionados Con Actividades De Financiacion</link:label>
    <link:label id="lab_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion_documentation_es" xlink:label="lab_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros Cobros Relacionados Con Actividades De Financiacion</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion" xlink:to="lab_san_OtrosCobrosRelacionadosConActividadesDeFinanciacion" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_b33befa9-1806-45a1-8872-8a90ee1aa567_terseLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cash flows from (used in) investing activities [abstract]</link:label>
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    <link:label id="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosDesignadosAValorRazonableConCambiosEnResultados_0ef72452-0cdd-4367-a8f8-65a02f8c95ad_verboseLabel_es" xlink:label="lab_san_AumentoDisminucionNetaDeLosPasivosDeExplotacionPasivosFinancierosDesignadosAValorRazonableConCambiosEnResultados" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Aumento/ (Disminución) Neta De Los Pasivos De Explotación, Pasivos Financieros Designados A Valor Razonable Con Cambios En Resultados</link:label>
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    <link:label id="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_8d7b05ce-06ea-4bf6-8445-c968219ec7d0_verboseLabel_es" xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por incremento (decremento) de otros pasivos</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:to="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados_c408c7d8-b47e-4581-a464-22193c22756f_terseLabel_es" xlink:label="lab_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras Ganancias o Pérdidas sobre activos y pasivos financieros no negociables obligatoriamente a valor razonable con cambios en resultados</link:label>
    <link:label id="lab_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados_label_es" xlink:label="lab_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias O Perdidas Sobre Activos Y Pasivos Financieros No Negociables Obligatoriamente A Valor Razonable Con Cambios En Resultados</link:label>
    <link:label id="lab_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados_documentation_es" xlink:label="lab_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ganancias O Perdidas Sobre Activos Y Pasivos Financieros No Negociables Obligatoriamente A Valor Razonable Con Cambios En Resultados</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:to="lab_san_GananciasOPerdidasSobreActivosYPasivosFinancierosNoNegociablesObligatoriamenteAValorRazonableConCambiosEnResultados" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherCashAndCashEquivalents_4c1285ae-d3d1-4f6d-bd98-48ebdd333427_verboseLabel_es" xlink:label="lab_ifrs-full_OtherCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otros elementos de efectivo y equivalentes al efectivo</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherCashAndCashEquivalents" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherCashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCashAndCashEquivalents" xlink:to="lab_ifrs-full_OtherCashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AddressOfRegisteredOfficeOfEntity_04bba296-d49e-43e9-8e43-be54bac4baaf_verboseLabel_es" xlink:label="lab_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Dirección de la sede social de la entidad</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AddressOfRegisteredOfficeOfEntity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:to="lab_ifrs-full_AddressOfRegisteredOfficeOfEntity" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading_7495af98-4587-4370-8fa3-960698bcd2f9_verboseLabel_es" xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Ajustes por incremento (decremento) de los pasivos financieros mantenidos para negociar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:to="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInFinancialLiabilitiesHeldForTrading" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_Inventories_3ddec8c5-280e-40b1-8319-85451eaa1dc9_terseLabel_es" xlink:label="lab_ifrs-full_Inventories" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Existencias corrientes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_Inventories" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_Inventories"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Inventories" xlink:to="lab_ifrs-full_Inventories" xlink:type="arc" order="1"/>
    <link:label id="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura_8077bfc3-5572-45d5-a801-4e21fb2ad933_terseLabel_es" xlink:label="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambios del valor razonable de los instrumentos de patrimonio valorados a valor razonable con cambios en otro resultado global (instrumento de cobertura)</link:label>
    <link:label id="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura_label_es" xlink:label="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambios del valor razonable de los instrumentos de patrimonio valorados a valor razonable con cambios en otro resultado global (instrumento de cobertura)</link:label>
    <link:label id="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura_documentation_es" xlink:label="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Cambios del valor razonable de los instrumentos de patrimonio valorados a valor razonable con cambios en otro resultado global (instrumento de cobertura)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura" xlink:to="lab_san_CambiosDelValorRazonableDeLosInstrumentosDePatrimonioValoradosAValorRazonableConCambiosEnOtroResultadoGlobalInstrumentoDeCobertura" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DebtSecuritiesMember_4603e4bb-c1e8-456b-a718-5eac54038743_terseLabel_es" xlink:label="lab_ifrs-full_DebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Valores representativos de deuda [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DebtSecuritiesMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DebtSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DebtSecuritiesMember" xlink:to="lab_ifrs-full_DebtSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashOnHand_d9cdf062-517f-4f19-82b6-7302f40f6662_verboseLabel_es" xlink:label="lab_ifrs-full_CashOnHand" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Efectivo en caja</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashOnHand" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashOnHand"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashOnHand" xlink:to="lab_ifrs-full_CashOnHand" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities_1f1aa05d-c222-4402-84c7-f32035ce21fb_totalLabel_es" xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Flujos de efectivo procedentes de (utilizados en) actividades de inversión</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_OtherReserves_493a0367-e9a6-48cd-b0cc-9f76c09cc6bb_verboseLabel_es" xlink:label="lab_ifrs-full_OtherReserves" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Otras reservas</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_OtherReserves" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_OtherReserves"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherReserves" xlink:to="lab_ifrs-full_OtherReserves" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialAssetsCategoryMember_d79867a7-6a28-401d-89c8-3240bdd7af50_terseLabel_es" xlink:label="lab_ifrs-full_FinancialAssetsCategoryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos financieros, categoría [miembro]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialAssetsCategoryMember" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialAssetsCategoryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssetsCategoryMember" xlink:to="lab_ifrs-full_FinancialAssetsCategoryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_StatementOfComprehensiveIncomeAbstract_5952f411-0363-4f07-baff-8af77638b72d_terseLabel_es" xlink:label="lab_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Statement of comprehensive income placeholder - this item MUST be used as a starting point for the statement of comprehensive income if it is disclosed separately or when the statement of profit or loss and other comprehensive income statements are combined in a single statement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:to="lab_ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_san_PrestamosYAnticiposEntidadesDeCreditoMember_f80e5b18-edd4-4f25-8da5-069b6063d221_terseLabel_es" xlink:label="lab_san_PrestamosYAnticiposEntidadesDeCreditoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Préstamos y anticipos, Entidades de crédito [Member]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposEntidadesDeCreditoMember_label_es" xlink:label="lab_san_PrestamosYAnticiposEntidadesDeCreditoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prestamos Y Anticipos, Entidades De Credito [Member]</link:label>
    <link:label id="lab_san_PrestamosYAnticiposEntidadesDeCreditoMember_documentation_es" xlink:label="lab_san_PrestamosYAnticiposEntidadesDeCreditoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Prestamos Y Anticipos, Entidades De Credito</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_san_PrestamosYAnticiposEntidadesDeCreditoMember" xlink:href="5493006QMFDDMYWIAM13-2020-12-31.xsd#san_PrestamosYAnticiposEntidadesDeCreditoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_san_PrestamosYAnticiposEntidadesDeCreditoMember" xlink:to="lab_san_PrestamosYAnticiposEntidadesDeCreditoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification_9269001e-6c65-4389-84c8-db882736d9d3_verboseLabel_es" xlink:label="lab_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Nombre de la entidad que informa u otras formas de identificación</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:to="lab_ifrs-full_NameOfReportingEntityOrOtherMeansOfIdentification" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_AdministrativeExpense_2e26b691-285f-4ded-b3d0-862394b23d02_totalLabel_es" xlink:label="lab_ifrs-full_AdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Gastos de administración</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_AdministrativeExpense" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_AdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdministrativeExpense" xlink:to="lab_ifrs-full_AdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_DeferredTaxAssets_99123b3a-d5da-4917-9f58-bed87fb59d7a_terseLabel_es" xlink:label="lab_ifrs-full_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos por impuestos diferidos</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_DeferredTaxAssets" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_DeferredTaxAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxAssets" xlink:to="lab_ifrs-full_DeferredTaxAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill_5b42fb41-e378-4a36-b645-c9016c4afc7e_verboseLabel_es" xlink:label="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pérdida por deterioro del valor reconocida en el resultado, activos intangibles y fondo de comercio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:to="lab_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_11aa7c54-aa4d-4866-90d7-178db5a599ab_terseLabel_es" xlink:label="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Activos no corrientes o grupos enajenables de elementos clasificados como mantenidos para la venta</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:to="lab_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_865cb08c-31d3-4eb8-aad8-0de0da542496_terseLabel_es" xlink:label="lab_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="es">Pasivos financieros al valor razonable con cambios en resultados que se atienen a la definición de mantenidos para negociar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading" xlink:href="http://xbrl.ifrs.org/taxonomy/2019-03-27/full_ifrs/full_ifrs-cor_2019-03-27.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading"/>
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