Santander Reports 14% Growth in Underlying Profit for First Nine Months of 2026
Banco Santander (SAN) reported strong financial results for the first nine months of 2026, with underlying profit reaching EUR 11.2 billion, a 14% increase year-over-year in constant euros. The bank achieved its best efficiency ratio in 17 years at 42.6%, driven by automation and simplification efforts. Despite the capital impact from the Webster acquisition, the Common Equity Tier 1 (CET1) ratio stood at 12.7%. Growth was diversified across several segments: Corporate and Investment Banking profit rose 15%, while Santander US profit grew 24% excluding M&A impacts. Customer numbers reached 189 million active users, supported by digital adoption. While the bank faces localized risks in Argentina and regulatory headwinds regarding electric vehicle incentives in the U.S., overall profitability remains on track toward its 2028 Return on Tangible Equity (RoTE) target of above 20%.
Tickers: $SAN
Topics: capital ratios customer acquisition earnings report net interest income profit growth
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