Banco Santander Posts 19% Rise in Q3 Underlying Profit, Reiterates 2026 Targets

Banco Santander (SAN) reported third-quarter underlying profit of 3.8 billion euros, up 19% from a year earlier, and reaffirmed its full-year 2026 targets. Attributable profit fell 2% to 3.43 billion euros, or 5% ex-FX, while underlying EPS was 0.26 euros. Third-quarter total income rose 12% to 15.96 billion euros, or 8% ex-FX. For the first nine months of 2026, the bank posted record underlying profit of 11.18 billion euros, up 16%, and attributable profit of 12.41 billion euros, up 20%. Revenue grew 8% to 46.81 billion euros. Executive Chair Ana Botín said the bank added 17 million customers over twelve months, aided by the TSB and Webster acquisitions, with loans and customer funds each up 16% year-on-year. Santander reiterated targets of mid-single-digit revenue growth, profit above 14.1 billion euros and a CET1 ratio of 12.8% to 13%, plus its 2028 plan for a RoTE above 20% and profit above 20 billion euros. Shares last closed at 11.27 euros in Madrid.