Banco Santander stock holds focus on profit and capital returns
Published on 11/04/2026 at 10:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSantander Builds On Strong Nine Months
- Underlying profit reached a record level after customer numbers rose by 17 million year over year.
- Management reaffirmed its 2026 targets and its 2028 ambitions for profitability and scale.
- The November 2 interim dividend keeps shareholder returns central after the latest earnings update.
Banco Santander reported record underlying profit of EUR 11.176 billion for the first nine months of 2026, up 16% year over year, in results published on October 28. The bank said the performance reflected stronger customer activity and efficiency gains from its ONE Transformation programme.
Banco Santander stock traded at 10.69 euros on Lang & Schwarz at 10:33 CET on Wednesday, November 4, 4.44% above the Xetra close of Tuesday, November 3. The Xetra close was 10.236 euros, according to Bolsamania.
Profit Growth And Capital Strength
Revenue increased 8% to EUR 46.807 billion, while net interest income rose 10% to EUR 34.614 billion and net fee income gained 9% to EUR 10.349 billion. Net operating income advanced 14% to EUR 26.882 billion, and the efficiency ratio improved by 2.8 percentage points to 42.6%.
The bank added 17 million customers over the previous twelve months, bringing the total to 189 million. Loans and customer funds each increased 16% in constant euros, although excluding the acquisitions of TSB and Webster, loan growth was 6% and customer-fund growth was 8%.
Underlying return on tangible equity reached 16.0%, up 1.1 percentage points, while statutory earnings per share rose 25%. Santander also reported attributable profit of EUR 12.405 billion, up 20%. That figure included a EUR 1.9 billion capital gain from the disposal of Santander Bank Polska and EUR 666 million of charges, including integration costs linked to TSB and Webster. The underlying result excludes these non-recurring items and is intended to show operating performance more consistently.
Targets And Shareholder Returns
Santander reiterated its 2026 targets of mid-single-digit revenue growth, lower costs in constant euros, profit above the EUR 14.1 billion reported in 2025 and a year-end CET1 ratio between 12.8% and 13%. The CET1 ratio stood at 12.7% at the end of September, leaving the bank close to that range.
The board approved an interim cash dividend of 12.70 euro cents per share in September, 10% above the equivalent payment in 2025. The dividend was paid on November 2, while total remuneration linked to first-half 2026 results was expected to be about EUR 3.660 billion. Santander also has a share buyback programme of up to approximately EUR 1.8 billion under way.
For 2028, the group continues to target a return on tangible equity above 20%, profit above EUR 20 billion and more than 210 million customers. These targets depend on market conditions and exclude the impact of mergers and acquisitions from the 2026 operating targets.
Investors can follow the real-time quote of Banco Santander stock as the market weighs earnings momentum against acquisition integration and capital requirements.
The broader IBEX 35 market remains an important reference for Spain-listed financial stocks and the wider risk appetite affecting Santander.
More news and analyses on Banco Santander stock will follow as the bank reports its fourth-quarter and full-year 2026 results on February 3, 2027.
Banco Santander Key Figures
- Company: Banco Santander, S.A.
- ISIN: ES0113900J37
- Lang & Schwarz quote: 10.69 euros at 10:33 CET on November 4, 2026
- Xetra close: 10.236 euros on November 3, 2026
- Underlying profit: EUR 11.176 billion for the first nine months of 2026, up 16%
- CET1 ratio: 12.7% at September 30, 2026
- Sector: Financial Services
