Santander profit rises 20% to 12,405 million euros on Poland sale gain

Profit figures

Banco Santander reported a net profit of 12,405 million euros for the first nine months of 2026, up 20% on the same period a year earlier. Excluding corporate operations, its ordinary profit came to 11,176 million euros, a rise of 16.1%. The gap is a net capital gain of 1,895 million euros from selling the Polish business, partly offset by 666 million euros in charges, mainly for integrating TSB and Webster. LaVanguardia puts the reported increase at 14%, while the other reports give 20%. The figures were released on Wednesday, 28 October, with the quarterly accounts.

Reported net profit12,405

Ordinary net profit11,176

Reported net profit

12405 million euros

Ordinary net profit

11176 million euros

Data from the article text

Revenue, costs and asset quality

Sources differ slightly on total gross income, which is given as 46,713 million euros or 46,807 million, both up about 8%. Net interest income rose 9.5% to 34,545 million euros in most reports, while El Periódico gives 34,614 million, up 10%. Net fee income climbed 8.9% to 10,349 million euros. Trading income fell 34.7% to 1,079 million euros, and dividend income rose 35.8% to 759 million. ABC puts the net margin at 27,741 million euros, up 11.8%, while El Periódico gives 26,882 million, up 14%. LaVanguardia says costs rose 2% to 19,925 million euros, a rise the bank links to efficiencies from the One Transformation programme. El Periódico reports the efficiency ratio improved 2.8 points to 42.6%.

Loan-loss charges rose 13% (10% in constant euros), mainly because of market trends in Argentina, according to ABC. Excluding Argentina, those charges rose 6%. El Mundo reports that the non-performing loan ratio improved to 2.9%.

Capital, customers and AI

Return on tangible equity reached 17.4% in the figures cited by La Razón and ABC, while El Mundo puts the ordinary ROTE at 16%. The phased-in CET1 ratio stood at 12.7% at the end of September, after a 147 basis point impact from the Webster purchase, El Mundo reports. The group added 17 million customers over twelve months, reaching 189 million according to La Razón and El Periódico, and close to 190 million according to ABC. Eight million of the new customers came from TSB and Webster, whose acquisitions concluded on 30 April and 20 August respectively, with Webster alone adding 4.2 million. Botín also said artificial intelligence generated 194 million euros of business value during 2026.

Outlook and dividend

The bank said it reiterated all its 2026 targets. LaVanguardia lists them as raising revenue at a mid-single-digit rate, exceeding the 14,101 million euros of 2025 profit, and keeping the CET1 ratio between 12.8% and 13%. Botín addressed the outlook directly in a statement.

“I have more confidence than ever that we will meet our targets, both in 2026 and in our three-year plan.”

The interim cash dividend is 12.70 euro cents per share, payable on 2 November, and the total tied to first-half results comes to about 3,660 million euros. El Periódico reports that the interim dividend rises 10%.