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Santander's Q2 Net Profit up 17% on Revenues and TSB
Mahesh Aditya said branches remain central to strategy as the bank targets at least 400 million euros in savings by 2028.
- On Wednesday, July 22, 2026, Santander reported a 17% year-on-year rise in underlying net profit to $4.3 billion for the second quarter, supported by higher revenues and two months of contribution from British lender TSB.
- The Spanish-owned Santander completed its £2.65 billion acquisition of TSB in May, an expansion into Britain that Santander Executive Chair Ana Botin called 'another important milestone in the execution of our strategy.'
- Despite quarterly growth, the bank reported a 31% fall in pre-tax profits to £528 million for the six months to June 30, following an extra £179 million set aside for motor finance mis-selling costs.
- New boss Mahesh Aditya pledged to maintain 305 Santander and 175 TSB branches across Britain until 2028, calling the network an 'important part of our strategy' despite cost-cutting plans.
- Bad debt charges rose by £173 million due to a worsening economic outlook in 2026 linked to the Iran war, with the group warning of further cuts 'driven by simplification and automation of our business.
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44 Articles
44 Articles
ObservadorReposted by 
IOL Portugal
IOL PortugalResults include selling the bank's Polish subsidiary worth more than EUR 1,895 million. "Our strategy will continue to drive profitable growth," says CEO Ana Botín.
·Lisboa, Portugal
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Santander Shoots Its Profit 15% in the First Semester and Reaches the Record Figure of 7,328 Million
The entity that presides Ana Botín reaches 182 million customers after incorporating 12 million new ones in the last year
·Madrid, Spain
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YorkshireLiveReposted by 
Bristol Post
Bristol PostSantander and TSB make announcement on 480 branches
It comes after Santander announced a wave of branch closures at the start of the year
·London, United Kingdom
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Total News Sources44
Leaning Left6Leaning Right7Center11Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 25%
C 46%
R 29%
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