Banco Santander stock: 9M profit rises as targets hold

Published on 11/06/2026 at 17:57 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banco Santander stock faces a sharper investor focus after detailed nine-month figures. Management kept its 2026 targets intact while capital returns continue.

Profitability and capital remain in focus

Santander reported record underlying profit for the first nine months of 2026 and reiterated its full-year targets.
The Webster acquisition expanded the customer base while weighing on the CET1 ratio through its initial capital impact.
Shareholder remuneration remains central as the bank combines dividends with ongoing buybacks.

Banco Santander, ES0113900J37, Illustration mit AI erstellt.

Banco Santander published its third-quarter 2026 results on October 28, reporting record underlying profit for the first nine months and reaffirming its full-year targets. The official Santander release said underlying profit rose 16 percent to 11.176 billion euros.

Growth meets acquisition effects

Attributable profit reached 12.405 billion euros, but the statutory figure included a 1.9 billion euro net capital gain from the disposal of Santander Bank Polska and 666 million euros of charges, including integration costs linked to TSB and Webster. Santander therefore presents underlying results as the clearer measure of operating performance.

Underlying profit in the third quarter reached 3.8 billion euros, up 19 percent year on year. Revenue increased 8 percent to 46.807 billion euros, while the efficiency ratio improved to 42.6 percent. Loans and customer funds each rose 16 percent in constant euros, although excluding acquisitions the increases were 6 percent and 8 percent.

Capital and shareholder returns

The Webster acquisition was completed on August 20 and added 4.2 million customers to Santander's US franchise. The group had 189 million customers after adding 17 million over the previous twelve months. Underlying return on tangible equity reached 16.0 percent, while statutory earnings per share increased 25 percent.

The CET1 ratio stood at 12.7 percent after absorbing a 147-basis-point impact from Webster. Santander targets a year-end CET1 ratio of 12.8 to 13 percent and reiterated its 2026 goals for mid-single-digit revenue growth, lower costs in constant euros and profit above the 14.1 billion euros reported in 2025.

Banco Santander stock traded at 10.65 euros on Lang & Schwarz at 17:48 CET on Friday, November 6, 2026. The real-time quote of Banco Santander stock is available separately.