Santander reports record €8,973M net profit in first half of 2026

Banco Santander posted a record net profit of €8,973 million in the first half of 2026, up 31% year-on-year, driven by a €1,895 million capital gain from the sale of its Polish subsidiary Santander Polska. Excluding that one-time item, ordinary profit rose 15% to €7,328 million, also a record Source: lavanguardia, abces, infobae.

Results overview

Total income grew 6% to €30,847 million, supported by a 7% increase in net interest income (€22,711 million) and a 9% rise in fee income (€6,851 million) Source: elmundoes, abces. Costs fell 2% (excluding TSB), thanks to the ONE Transformation efficiency programme, improving the cost-to-income ratio by 2.9 percentage points to 42.8% Source: elespanol, elconfidencial. The bank added 12 million new customers year-on-year, reaching 182 million, including over 4 million from TSB Source: lavanguardia, infobae.

Key drivers and M&A activity

Santander completed the acquisition of TSB from Sabadell on 30 April, incurring €250 million in restructuring costs that partially offset the Poland gain Source: abces. The integration strengthens Santander's position in the UK, adding deposits and low-risk mortgages Source: elespanol. Meanwhile, the bank is preparing to acquire Webster Bank in the US for over €9 billion, already having the target's approval. Management aims to keep CET1 capital ratio between 12.8% and 13% post-acquisition; it currently stands at 14% Source: lavanguardia, elconfidencial.