Santander's Q3 Net Profit Rises Despite Drop in Brazil
The bank said gains in Britain and the United States offset weaker earnings in Brazil, while reported profit slipped on charges tied to Webster.
- On Wednesday, Spain's Santander reported a 19% rise in underlying third-quarter net profit to €3.85 billion, beating analyst forecasts of €3.75 billion.
- Contributions from recently acquired lenders in Britain and TSBand Webster bolstered results, although weaker earnings in Brazil weighed on performance.
- Quarterly net profit rose 48% in the Americas and 40% in Britain, but fell 15% in Brazil; impairment charges linked to Webster reduced reported net profit to €3.43 billion.
- Santander shares fell 3% on Tuesday following the surprise re-election of President Luiz Inacio Lula, with Citi analysts noting higher rates under Lula could delay bad-loan normalization.
- Executive Chair Ana Botin stated, 'At a time of heightened volatility, our combination of at-scale global businesses and diversification across Europe and the Americas is a distinctive source of strength,' as the bank targets profit growth exceeding 40% over three years.
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Santander’s Third-Quarter Profit Climbs 19% on US and UK Growth
Banco Santander recorded a 19% rise in underlying third-quarter profit to €3.85 billion, driven by stronger performances in Britain and the United States and supported by recent acquisitions. Gains in those markets helped counter weaker earnings in Brazil, while impairment and restructuring expenses contributed to a 2% decline in reported attributable net profit.
Santander's Q3 net profit rises despite drop in Brazil
Spain's Santander has today reported a 19% rise in underlying third-quarter net profit, helped by contributions from recently acquired lenders in Britain and the US, although weaker earnings in Brazil weighed on the results.
The result until September also reflects the purchase of the US Webster and British TSB, the latter acquired from SabadellWhere do the Spanish have their savings? The poorest households, in housing; the rich, in financial assets Banco Santander has closed the first nine months of the year with another record profit. The entity closed September with a profit attributed to 12,405 million euros, 20% more than in the same period of 2025, result that…
Santander has incorporated 17 million new customers to reach 189 million, thanks to the commercial activity, the incorporation of TSB and the purchase of the US Webster. The business in Spain recorded a profit of 3,695 million, the business that most contributed to the group
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