Quarterly ResultJul 22, 2026, 06:16 AM
Banco Santander H1'26 Underlying Profit €7.3B, up 15%
AI Summary
Banco Santander reported a strong financial performance for the first half of 2026, with underlying profit reaching €7.3 billion, a 15% increase year-over-year. The bank also saw a 17% rise in Q2'26 underlying profit to €3.8 billion. This growth was supported by a 6% increase in total revenue, improved efficiency, and the addition of 12 million new customers. Strategic initiatives like the ONE Transformation and the integration of TSB in the UK are driving profitable growth and shareholder value creation.
Key Highlights
- H1'26 underlying profit reached €7.3 billion, a 15% increase year-over-year.
- Q2'26 underlying profit was €3.8 billion, up 17% year-over-year.
- Underlying EPS grew by 20% and TNAVps + DPS increased by 19%.
- Total revenue for H1'26 was €30,847 million, up 6% year-over-year.
- Efficiency ratio improved by 2.9 percentage points to 42.8%.
- CET1 ratio stood at 14.0%, an increase of 1.0 percentage point.
- Added 12 million new customers year-over-year, reaching 182 million total customers.
- Retail profit for H1'26 was €4,124 million, up 12%.
Price Impact
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