Banco Santander posted a record quarterly profit of EUR 3.8 billion, contributing to the best first half in the bank's history. Total customers reached 182 million, up 12 million over the past year including 4 million from the TSB acquisition. The efficiency ratio improved 3 percentage points to 42.8%, while underlying return on tangible equity rose to 15.6%. Revenue grew 6% in constant euros, supported by a 7% increase in fee income, and underlying earnings per share jumped 20% year over year. The bank's CET1 ratio stood at 14% after absorbing a 55-basis-point impact from the TSB deal, and management reaffirmed 2026 profit guidance of more than EUR 14.1 billion, excluding M&A. A new EUR 1.8 billion share buyback was approved, bringing total committed distributions to approximately EUR 9 billion.
Banco Santander S.A.Record quarterly profit, improved efficiency, higher EPS, and new share buyback announced.