Quarterly ResultApr 29, 2026, 06:13 AM
SAN Q1 Attributable Profit +60% to EUR 5.46B; Poland Disposal & Webster Acq.
AI Summary
Banco Santander (SAN) reported a Q1 2026 attributable profit of EUR 5,455 million, a 60% increase year-over-year, significantly boosted by a EUR 1,895 million capital gain from the completion of the Poland disposal. Underlying attributable profit reached a record EUR 3,560 million, up 12% YoY. The company also announced an agreement to acquire Webster Financial Corporation for USD 12.2 billion, aiming to enhance its US market position. The CET1 ratio improved to 14.4%, and the bank is on track to meet its 2026 targets.
Key Highlights
- Completion of Poland disposal generated EUR 1,895M net capital gain, increasing CET1 by 95 bps.
- Agreement to acquire Webster Financial Corporation for USD 12.2B (EUR 10.3B).
- Q1 2026 attributable profit rose 60.3% YoY to EUR 5,455 million.
- Underlying attributable profit increased 12.5% YoY to EUR 3,560 million.
- Phased-in CET1 ratio improved to 14.4% in Q1 2026, up 0.9 pp QoQ.
- Return on Tangible Equity (RoTE) reached 17.3%; underlying RoTE was 15.2%.
- Net interest income grew 3.7% YoY to EUR 11,019 million.
- Total costs decreased 2.3% YoY to EUR 6,130 million, improving efficiency to 42.8%.