Santander earnings rose on an underlying basis in the third quarter of 2026, even as reported attributable profit fell. The bank said on October 28 that underlying profit increased 19% from a year earlier to €3.848 billion, and it reiterated its full-year targets.

Santander earnings and customer growth

Third-quarter attributable profit fell 2% to €3.43 billion, or 5% excluding foreign-exchange effects. Total income rose 12% to €15.96 billion, or 8% excluding currency effects.

For the first nine months of 2026, underlying profit increased 16% to €11.18 billion, while attributable profit rose 20% to €12.41 billion. Santander’s nine-month results included a net gain from the sale of Santander Bank Polska, partly offset by charges including integration costs for TSB and Webster; underlying results exclude those non-recurring items.

The bank added 17 million customers over the preceding 12 months, reaching 189 million. It said the additions included eight million customers from TSB and Webster. Loans and customer funds each grew 16% in constant euros, or 6% and 8%, respectively, excluding the acquisitions.

Targets and dividend

Santander reiterated its 2026 targets for mid-single-digit revenue growth, lower costs in constant euros, profit above the €14.1 billion reported in 2025 and a common equity tier 1 capital ratio of 12.8% to 13%. The targets exclude Poland, TSB and Webster, although the capital-ratio target incorporates the effects of inorganic transactions. The ratio stood at 12.7% after the Webster acquisition.

For 2028, the bank retained targets for return on tangible equity above 20%, profit above €20 billion and more than 210 million customers. A 2026 interim cash dividend of 12.70 euro cents per share is scheduled for payment on November 2.

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