Banco Santander, S.A.

Banco Santander, S.A. Earnings Recaps

SAN Financials 1 recap
Q3 2025 Oct 29, 2025

Santander achieved a record quarterly profit of EUR 3.5 billion in Q3 2025, reflecting robust revenue growth and a strategic focus on efficiency amid a challenging environment.

Key takeaways
  • Strong revenue growth of 4% in constant euros, driven by net interest income and a record 8% increase in fees.
  • Return on Tangible Equity (RoTE) improved by 70 basis points to 16.1%, on track to reach a post-AT1 target of around 16.5%.
  • Total customer base grew to 178 million, up 7 million year-on-year, enhancing overall customer engagement and experience.
  • Continued focus on digitalization and operational efficiency, with significant reductions in costs and a 17% decrease in non-commercial team activities.
  • Shareholder value creation through an accelerated EUR 10 billion share buyback program planned for 2025-2026, subject to regulatory approvals.
Full recap