Quarterly ResultJul 22, 2026, 06:07 AM
Santander H1 Underlying Profit +15% to €7.3B; Adds 12M Customers
AI Summary
Banco Santander reported a strong first half of 2026, with underlying profit increasing 15% to €7.3 billion and revenue up 6% to €30.8 billion. The bank added 12 million customers, bringing its total to 182 million, and completed the acquisition of TSB, enhancing its UK presence. Santander also confirmed significant progress on its share buyback program and reiterated its positive 2026 financial targets.
Key Highlights
- Underlying profit rose 15% to €7.3 billion in H1 2026.
- Added 12 million customers, reaching a total of 182 million.
- Revenue increased 6% to €30.8 billion, driven by NII (+7%) and net fee income (+9%).
- Completed TSB acquisition, strengthening UK franchise with over 4 million customers.
- CET1 ratio stood at 14.0%, with 20 basis points organic capital generation in Q2.
- Committed €9 billion towards €10 billion share buyback target for 2025-2026.
- Reiterated 2026 targets: mid-single-digit revenue growth, lower costs, higher profit.
Price Impact
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