Quarterly ResultApr 29, 2026, 06:13 AM
SAN Q1 Underlying Profit €3.6B (+12%); Revenue +4%; EPS +17%
AI Summary
Banco Santander reported a strong start to 2026 with underlying profit reaching €3.6 billion, a 12% increase, and attributable profit of €5.5 billion, up 60%, boosted by a €1.9 billion gain from the Poland disposal. Revenue grew 4% to €15.1 billion, while costs decreased 3%, driving a 17% rise in underlying EPS. The bank added eight million customers, improved its efficiency ratio to 42.8%, and achieved a CET1 ratio of 14.4%. Shareholders approved a final cash dividend of 12.5 euro cents, bringing the total 2025 cash dividend to 24 euro cents, and a €5 billion share buyback program was approved. The company reiterated its 2026-2028 targets.
Key Highlights
- Underlying profit (ex-M&A) for Q1 2026 was €3.6 billion, up 12%.
- Attributable profit reached €5.5 billion, up 60%, including €1.9 billion from Poland disposal.
- Revenue rose 4% to €15.1 billion; net interest income +4%, net fee income +6%.
- Total costs decreased 3% to €6.484 billion; efficiency ratio improved to 42.8%.
- Underlying EPS increased 17%; underlying RoTE rose 0.5 percentage points to 15.2%.
- CET1 capital ratio increased to 14.4%, up 1.5 percentage points year-on-year.
- Final cash dividend of 12.5 euro cents per share approved, total 24 euro cents for 2025 results.
- Board approved a €5 billion share buyback program.