Banco Santander stock holds 2026 targets after profit rises 16%
Published on 11/06/2026 at 10:07 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSProfit growth supports unchanged targets
- Santander added 17 million customers year on year and reached 189 million customers.
- Revenue rose 8% to 46.8 billion euros, while the efficiency ratio improved to 42.6%.
- Management maintained its 2026 targets and its plan for return on tangible equity above 20% by 2028.
Banco Santander reported record underlying profit of 11.176 billion euros for the first nine months of 2026 and kept its full-year targets unchanged. The bank released the results on October 28, according to its 3Q 2026 financial results.
Growth broadens the earnings base
Underlying profit increased 16% from the year-earlier period. Attributable profit reached 12.405 billion euros, up 20%, but included a 1.895 billion euro capital gain from the disposal of Santander Bank Polska and 666 million euros of charges, including integration costs for TSB and Webster. The underlying measure excludes these non-recurring items and is intended to show operating performance more consistently.
Revenue rose 8% to 46.807 billion euros. Net interest income increased 10% to 34.614 billion euros, while net fee income advanced 9% to 10.349 billion euros. Santander said customer activity, higher volumes and deeper relationships supported the increase, while around 95% of group revenue was linked to customer activity.
The bank added 17 million customers in the past twelve months, taking the total to 189 million. Loans and customer funds each increased 16% in constant euros, although excluding TSB and Webster, loans rose 6% and customer funds 8%. The efficiency ratio improved to 42.6%, and underlying return on tangible equity reached 16.0%.
Targets and capital remain in focus
Santander reiterated its 2026 targets of mid-single-digit revenue growth, lower costs in constant euros, profit above the 14.1 billion euros reported in 2025 and a CET1 ratio between 12.8% and 13%. The targets exclude the impact of mergers and acquisitions. The bank also retained its longer-term objective of return on tangible equity above 20%, profit above 20 billion euros and more than 210 million customers by 2028.
The CET1 ratio stood at 12.7% after the completion of the Webster acquisition in August. Santander said it remained on track to reach the upper end of its year-end capital range. Shareholder distributions also remain material: the bank approved an interim cash dividend of 12.70 euro cents per share against 2026 results, payable on November 2, and continued a share buyback of up to 1.8 billion euros against first-half results.
Stock trades near the prior Xetra close
Banco Santander stock traded at 10.73 euros on Lang & Schwarz at 10:03 CET on Friday, November 6, 0.00 percent above the Xetra close of Thursday, November 5. Investors can follow the real-time quote of Banco Santander stock on the company page.
The broader Spanish market can be followed through the IBEX 35 market reports.
Further results, capital-allocation updates and analysis are available in more news and analyses on Banco Santander stock.
Banco Santander key figures
- Company: Banco Santander
- ISIN: ES0113900J37
- Xetra ticker: BSD2.DE
- Trading venue: Lang & Schwarz
- Quote: 10.73 euros at 10:03 CET on November 6, 2026
- Change versus Xetra close: 0.00% versus November 5, 2026
