Santander Q3 underlying profit climbs 19%, 2026 targets kept

what happened

Spain's Banco Santander posted third-quarter attributable profit of 3.43 billion euros, 2% below a year earlier and 5% lower excluding currency effects. Underlying profit, however, climbed 19% to 3.8 billion euros, according to TradingView, which cited RTTNews and dpa-AFX. Total income rose 12% to 15.96 billion euros.

For the first nine months, underlying profit hit a record 11.18 billion euros, up 16%, while attributable profit reached 12.41 billion euros, a 20% gain, and revenue rose 8% to 46.81 billion euros. Chair Ana Botín said the bank added 17 million customers over the past twelve months, helped by the TSB and Webster acquisitions, and that loans and customer funds each grew 16%.

Santander kept all of its 2026 goals and the three-year plan presented at its February Investor Day, targeting a RoTE above 20%, profit over 20 billion euros and more than 210 million customers by 2028. The shares closed at 11.27 euros on Bolsa de Madrid.

why it matters

Two points stand out for markets: reported profit fell on currency effects, while underlying figures grew sharply. Reaffirmed targets and a larger customer base support confidence in the bank, and the swings show how exchange rates shape results at European lenders with international operations.

market impact

Santander shares: stronger underlying profit supports interest, while currency effects weigh on reported earnings

• ↔Santander shares mixed — underlying profit rose, but reported profit fell on currency effects

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