Banco Santander, S.A. (SAN) Form 6-K — Oct 28, 2026
Banco Santander reported record nine-month 2026 underlying profit of €11.2 billion, up 16% year-on-year, with attributable profit of €12.4 billion (+20%) including a €1.9 billion gain from the Santander Bank Polska disposal. Revenue rose 8% to €46.8 billion while statutory EPS climbed 25%, and Q3 underlying profit reached €3.8 billion (+19%). The bank completed the Webster acquisition on 20 August, adding 4.2 million customers and cutting the CET1 ratio by 147 basis points to 12.7%, while customer numbers grew 17 million to 189 million including the TSB addition. RoTE improved to 16.0% and the efficiency ratio improved to 42.6% on ONE Transformation cost gains.
Key figures
- Eps
- Statutory EPS +25% YoY
- Revenue
- €46,807 million
- Guidance
- 2026 targets reiterated: mid-single-digit revenue growth, lower costs in constant euros, profit above €14.1 billion in 2025, CET1 ratio 12.8-13%. Three-year plan: RoTE >20%, profit >€20 billion and >210 million customers by 2028.
- Net Income
- €12,405 million attributable profit (+20%); underlying profit €11,176 million (+16%)
- Revenue Yoy
- +8%
- Cash Position
- 0
- Rote
- 16.0% (+1.1pp)
- Buyback
- c.€1.8 billion against H1 2026 results
- Customers
- 189 million (+17 million YoY)
- Npl ratio
- 2.90%
- Cet1 ratio
- 12.7%
- Cost of risk
- 1.16%
- Loans growth
- +16% in constant euros (+6% ex-M&A)
- Net fee income
- €10,349 million (+9%)
- Efficiency ratio
- 42.6% (-2.8pp)
- Interim dividend
- 12.70 euro cents per share
- Ai business value
- €194 million in 2026
- Net interest income
- €34,614 million (+10%)
- Webster cet1 impact
- -147 basis points
- Net operating income
- €26,882 million (+14%)
- Q3 underlying profit
- €3,848 million (+19%)
- Customer funds growth
- +16% in constant euros (+8% ex-M&A)
- Market capitalization
- €179 billion at end September 2026
- H1 2026 shareholder remuneration
- c.€3,660 million (~50% of H1 underlying profit)
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