SAN

Banco Santander, S.A. (SAN) Q2 2026 Earnings Call Transcript

Santander's digital transformation and targeted deployment of artificial intelligence helped it achieve record profits in the first half, the bank said in a Wednesday (July 22) earnings release. The bank's underlying profit rose 15% to reach a record 7.3 billion euros (about $8.3 billion) in the first half.

Banco Santander NYSE: SAN reported what executives described as its strongest first half ever, with record quarterly profit in the second quarter and record underlying profit for the first half of 2026, supported by revenue growth across its global businesses, lower costs and continued customer expansion.

Net profit was down 36% compared with the prior quarter, which the bank attributed to restructuring charges arising from recent deals.

Spain's Santander said on Wednesday its ​net profit in the ‌second quarter rose 3% from the same period in ​2025, supported by ​higher revenues and two months' ⁠contributions of British lender ​TSB, which was partly ​offset by restructuring charges in Britain.

The partnership, a first of its kind for the artificial intelligence company, will use the prediction market's data to power some search results about the soccer tournament.

Spain's Santander has overhauled its Asia-Pacific ​business under new management, removed its ‌top banker in Beijing, and tightened employee oversight in the region, the Financial Times reported on ​Wednesday, citing people familiar with the matter.

Santander Brasil has sold off sharply, but the weakness looks more transitional than structural. Loan growth is weak by design, as Santander Brasil is prioritizing better clients and portfolio quality over volume. ROE is still pressured, which explains the below-book valuation, but management still sees a path back toward 20%.

Europe's largest banks have urged regulators not to intervene in equity markets, saying there is no evidence that a decline in trading on traditional ​stock exchanges has harmed price-setting.

European banks delivered their best performance in years in 2025, and investors have been tempted to take profits during the sector's recent pullback. But this rally is no bubble, and there's plenty of evidence international bank stocks are still undervalued compared to their domestic peers.