Banco Santander, S.A. (SAN) Q2 FY2026 Financial Statements: Revenue $18.24B, Net income $4.09B
More for Banco Santander, S.A.: Company index · 20-F and 6-K summary · 6-K filings and events
PeriodQ2 FY2026
Published
Banco Santander reported net income attributable to shareholders of $4.09 billion, or $0.27 per diluted share, on total income of $18.24 billion for Q2 FY2026, the quarter ended June 30, 2026. Excluding an after-tax restructuring charge for integrating TSB, the UK bank it bought in April, underlying attributable profit was $4.38 billion, up 20.3% from a year earlier in US dollar terms. The phased-in CET1 capital ratio was 14.0% at the end of the quarter, down from the end of March because of the TSB purchase, and management expected the acquisition of US lender Webster Financial, completed in August after the quarter closed, to reduce it in the second half.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $18,241,013,550 | |
| Net income | $4,092,072,801 | |
| Diluted EPS | $0.27 | |
| Underlying attributable profit | $4,382,868,196 | up 20.3% |
| CET1 ratio | 14.0% | up 1.0 points |
Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.
About this file
| Ticker | SAN |
|---|---|
| CIK | 0000891478 |
| Company | Banco Santander, S.A. |
| Business type | bank |
| Schema template | bank |
| Reporting currency | EUR |
| Converted to USD | yes |
| Units | actual US dollars (not millions), converted from euros; per-share figures in US dollars per American Depositary Share (1 ADS = 1 ordinary share); share counts are actual numbers of ordinary shares; ratios in percent |
SAN annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 20-F | 20-F | 20-F |
| Income statement | |||
| Net interest income | 47,810,870,007 | 47,377,555,415 | 43,969,523,117 |
| Net fee income | 14,649,897,261 | 13,390,838,053 | 12,433,694,175 |
| Gains on financial assets and liabilities and exchange differences | 2,666,696,773 | 2,392,303,081 | 2,774,460,684 |
| Dividend income | 807,234,629 | 768,220,347 | 614,383,496 |
| Share of results of equity method entities | 750,784,655 | 743,334,336 | 639,261,701 |
| Other operating income and expenses net | -447,083,794 | -1,505,062,680 | -1,750,127,636 |
| Total income | 66,238,399,530 | 63,167,188,552 | 58,681,195,538 |
| Operating expenses | 27,898,706,167 | 27,211,230,299 | 26,643,475,853 |
| Administrative expenses | 24,310,745,817 | 23,771,550,745 | 23,305,469,744 |
| Staff costs | 15,391,649,920 | 14,958,656,761 | 14,359,050,907 |
| Other general administrative expenses | 8,919,095,897 | 8,812,893,983 | 8,946,418,836 |
| Depreciation and amortization | 3,587,960,350 | 3,439,679,555 | 3,338,006,109 |
| Provisions net | 3,081,039,583 | 3,749,131,695 | 2,606,803,216 |
| Credit impairment charges | 14,164,427,484 | 13,131,157,935 | 13,302,268,027 |
| Impairment of other assets | 283,378,870 | 675,168,305 | 256,353,677 |
| Gains on non financial assets and investments | 0.0 | 398,176,180 | 337,478,259 |
| Negative goodwill recognised | 24,837,989 | 0.0 | 42,184,782 |
| Gains on non current assets held for sale | 255,153,883 | -29,214,013 | -21,633,222 |
| Profit before tax | 21,090,839,298 | 18,769,462,484 | 16,230,324,585 |
| Tax expense | 5,332,264,547 | 5,241,210,369 | 4,196,845,011 |
| Profit from continuing operations | 15,758,574,751 | 13,528,252,115 | 12,033,479,574 |
| Profit from discontinued operations | 1,740,917,199 | 1,342,762,607 | 1,144,397,428 |
| Profit for the period | 17,499,491,950 | 14,871,014,722 | 13,177,877,002 |
| Profit attributable to non controlling interests | 1,579,470,273 | 1,265,940,572 | 1,197,398,821 |
| Net income attributable to parent | 15,920,021,677 | 13,605,074,149 | 11,980,478,181 |
| Interest income | 114,830,537,178 | 117,951,037,314 | 110,050,362,140 |
| Interest expense | 67,019,667,171 | 70,573,481,899 | 66,080,839,023 |
| Basic EPS | 1.0217 | 0.8342 | 0.7074 |
| Diluted EPS | 1.0161 | 0.8310 | 0.7042 |
| Net income attributable to common shareholders | 15,217,784,000 | 12,934,233,846 | 11,448,300,927 |
| Weighted average basic shares | 14,890,304,840 | 15,497,607,269 | 16,172,084,714 |
| Weighted average diluted shares | 14,975,574,487 | 15,567,717,839 | 16,247,265,121 |
| Key metrics | |||
| Return on equity % | 13.9% | 13.0% | 11.9% |
| Return on tangible equity % | 16.3% | 15.5% | 14.4% |
| Return on assets % | 0.84% | 0.76% | 0.69% |
| Return on risk weighted assets % | 2.44% | 2.18% | 1.96% |
| Npl ratio % | 2.91% | 3.05% | 3.14% |
| Npl coverage ratio % | 66% | 65% | 66% |
| Tangible book value per share | 6.7738 | 5.4444 | 5.2655 |
| Regulatory capital | |||
| Cet1 ratio phased in % | 13.5% | 12.8% | 12.3% |
| Total capital ratio phased in % | 17.8% | 17.4% | 16.4% |
| Shares | |||
| Period end shares outstanding | 14,689,000,000 | 15,152,000,000 | 16,184,000,000 |
| Balance sheet | |||
| Cash and balances at central banks | 179,082,484,653 | 199,704,092,828 | 243,742,228,948 |
| Financial assets held for trading | 296,726,015,476 | 239,232,844,034 | 195,709,936,770 |
| Financial assets at fair value through oci | 87,743,726,039 | 93,404,013,033 | 92,155,275,023 |
| Financial assets at amortised cost | 1,414,362,490,298 | 1,250,651,452,937 | 1,317,929,504,113 |
| Intangible assets | 20,354,211,257 | 20,010,099,079 | 21,981,291,953 |
| Goodwill | 14,062,610,250 | 13,962,080,660 | 15,505,599,582 |
| Non current assets held for sale | 88,212,950,114 | 4,158,077,601 | 3,334,085,549 |
| Total assets | 2,196,197,991,392 | 1,908,726,975,762 | 1,987,909,238,536 |
| Financial liabilities at amortised cost | 1,671,312,651,410 | 1,542,210,409,948 | 1,624,678,649,021 |
| Liabilities associated with non current assets held for sale | 74,082,131,853 | 0.0 | 0.0 |
| Total liabilities | 2,063,606,322,177 | 1,797,214,233,467 | 1,872,597,887,601 |
| Shareholders equity | 165,985,370,558 | 140,468,630,515 | 144,295,992,460 |
| Accumulated other comprehensive income | -44,657,431,145 | -38,022,201,350 | -38,739,109,465 |
| Noncontrolling interests | 11,263,729,802 | 9,066,313,130 | 9,754,467,940 |
| Total equity | 132,591,669,215 | 111,512,742,295 | 115,311,350,935 |
| Loans and advances to customers | 1,219,850,883,176 | 1,095,177,585,863 | 1,146,408,833,667 |
| Customer deposits | 1,224,451,395,912 | 1,097,117,398,677 | 1,158,377,913,177 |
| Cash flow | |||
| Net cash from operating activities | -16,748,707,296 | -26,135,721,813 | 5,424,530,343 |
| Net cash from investing activities | 602,885,723 | -4,016,385,815 | -5,804,193,384 |
| Payments for tangible assets | 6,609,162,960 | 9,190,512,154 | 12,380,692,782 |
| Payments for intangible assets | 2,037,844,063 | 2,276,529,029 | 2,376,409,404 |
| Net cash from financing activities | -16,035,179,624 | -5,961,822,695 | -2,226,058,514 |
| Dividends paid | 3,771,987,265 | 3,264,395,476 | 2,445,635,714 |
| Acquisition of own equity instruments | 4,607,446,881 | 4,369,117,975 | 3,362,884,314 |
| Effect of exchange rate differences | -10,057,127,374 | 5,672,928,564 | -348,294,869 |
| Net change in cash and cash equivalents | -42,238,128,570 | -30,441,001,759 | -2,954,016,424 |
| Cash and cash equivalents at end of period | 182,040,125,126 | 199,704,092,828 | 243,742,228,948 |
| Conversion | |||
| Currency | EUR | EUR | EUR |
| Average | |||
| Eur per USD | 0.88574 | 0.924214 | 0.924504 |
| Ads ratio | 1.0 | 1.0 | 1.0 |
| Closing | |||
| Eur per USD | 0.85034 | 0.962464 | 0.903996 |
- Accounting basis. IFRS as adopted by the EU, audited consolidated financial statements in the FY2025 Form 20-F
- Conversion: average source, FY2025. FY2025 Form 20-F (accession 0000891478-26-000030), 'Exchange rates: 1 euro/currency parity' table: US dollar 1.129 (2025 average, income statement); inverted to euros per US dollar
- Conversion: average source, FY2024. FY2025 Form 20-F (accession 0000891478-26-000030), 'Exchange rates: 1 euro/currency parity' table: US dollar 1.082 (2024 average, income statement); inverted to euros per US dollar
- Conversion: average source, FY2023. FRED DEXUSEU, average of 249 daily rates 2023-01-01 to 2023-12-31
- Conversion: closing source, FY2025. FY2025 Form 20-F (accession 0000891478-26-000030), 'Exchange rates: 1 euro/currency parity' table: US dollar 1.176 (2025 period-end, balance sheet); inverted to euros per US dollar
- Conversion: closing source, FY2024. FY2025 Form 20-F (accession 0000891478-26-000030), 'Exchange rates: 1 euro/currency parity' table: US dollar 1.039 (2024 period-end, balance sheet); inverted to euros per US dollar
- Conversion: closing source, FY2023. FRED DEXUSEU, rate on 2023-12-29 (last before 2023-12-31)
SAN quarterly income statement, balance sheet and cash flow
| Q2 2026 | Q1 2026 | Q2 2025 | |
|---|---|---|---|
| Fiscal quarter | 2 | 1 | 2 |
| Period start | 2026-04-01 | 2026-01-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2026-03-31 | 2025-06-30 |
| Period type | three months | three months | three months |
| Source accession | 0000891478-26-000078 | 0000891478-26-000078 | 0000891478-26-000078 |
| Income statement | |||
| Net interest income | 13,599,919,043 | 12,893,872,164 | |
| Net fee income | 4,064,156,443 | 3,928,190,294 | |
| Gains on financial assets and liabilities and exchange differences | 94,217,708 | 761,767,019 | |
| Dividend income | 621,138,964 | 105,313,413 | |
| Share of results of equity method entities | 189,598,598 | 366,256,646 | |
| Other operating income and expenses net | -328,017,206 | -339,343,219 | |
| Total income | 18,241,013,550 | 17,716,056,317 | |
| Operating expenses | 7,450,178,025 | 7,173,013,555 | |
| Administrative expenses | 6,474,268,679 | 6,204,130,158 | |
| Staff costs | 4,130,457,793 | 3,953,933,573 | |
| Other general administrative expenses | 2,343,810,885 | 2,250,196,585 | |
| Depreciation and amortization | 975,909,346 | 968,883,397 | |
| Provisions net | 1,145,733,857 | 895,164,008 | |
| Credit impairment charges | 3,923,411,472 | 3,742,136,599 | |
| Impairment of other assets | 9,305,453 | 25,743,279 | |
| Gains on non financial assets and investments | 3,489,545 | 15,211,937 | |
| Negative goodwill recognised | 5,815,908 | 0.0 | |
| Gains on non current assets held for sale | 15,121,361 | -10,531,341 | |
| Profit before tax | 5,736,811,556 | 5,884,679,473 | |
| Tax expense | 1,386,512,444 | 1,462,686,288 | |
| Profit from continuing operations | 4,350,299,112 | 4,421,993,185 | |
| Profit from discontinued operations | 0.0 | 2,217,432,412 | |
| Profit for the period | 4,350,299,112 | 6,639,425,597 | |
| Profit attributable to non controlling interests | 258,226,311 | 256,262,638 | |
| Net income attributable to parent | 4,092,072,801 | 6,383,162,960 | |
| Basic EPS | 0.2675 | 0.4213 | |
| Diluted EPS | 0.2675 | 0.4213 | |
| Non GAAP | |||
| Underlying net interest income | 13,599,919,043 | 12,893,872,164 | |
| Underlying total income | 18,270,093,089 | 17,716,056,317 | |
| Underlying net operating income | 10,445,370,595 | 10,128,810,005 | |
| Underlying profit before tax | 6,185,799,647 | 5,884,679,473 | |
| Underlying profit attributable to parent | 4,382,868,196 | 4,165,730,547 | 3,642,912,879 |
| Underlying EPS | 0.2908 | 0.2691 | |
| Efficiency ratio % | 42.8% | 42.8% | |
| Underlying return on tangible equity % | 16.0% | 15.2% | |
| Cost of risk % | 1.15% | 1.14% | 1.13% |
| Key metrics | |||
| Return on equity % | 13.7% | 15.1% | |
| Return on tangible equity % | 15.8% | 17.3% | |
| Return on assets % | 0.82% | 0.92% | |
| Return on risk weighted assets % | 2.56% | 2.80% | |
| Npl ratio % | 2.93% | 3.00% | 2.90% |
| Npl coverage ratio % | 64% | 66% | 67% |
| Tangible book value per share | 7.2238 | 7.0679 | 6.4625 |
| Regulatory capital | |||
| Cet1 ratio phased in % | 14.0% | 14.4% | 13.0% |
| Total capital ratio phased in % | 18.8% | 18.9% | 17.2% |
| Shares | |||
| Period end shares outstanding | 14,689,000,000 | 14,689,000,000 | 14,885,000,000 |
| Balance sheet | |||
| Cash and balances at central banks | 157,743,078,852 | ||
| Financial assets held for trading | 327,973,427,547 | ||
| Financial assets at fair value through oci | 86,149,017,420 | ||
| Financial assets at amortised cost | 1,525,162,563,108 | ||
| Intangible assets | 21,456,387,139 | ||
| Goodwill | 15,022,442,796 | ||
| Non current assets held for sale | 3,275,836,647 | ||
| Total assets | 2,233,952,572,378 | 2,140,687,856,493 | 2,133,667,973,266 |
| Financial liabilities at amortised cost | 1,764,535,239,247 | ||
| Liabilities associated with non current assets held for sale | 0.0 | ||
| Total liabilities | 2,101,481,213,088 | ||
| Shareholders equity | 163,744,969,373 | ||
| Accumulated other comprehensive income | -38,762,542,991 | ||
| Noncontrolling interests | 7,488,932,907 | ||
| Total equity | 132,471,359,289 | 129,767,797,413 | 128,057,349,389 |
| Loans and advances to customers | 1,313,491,623,528 | 1,234,642,333,763 | 1,187,603,987,479 |
| Customer deposits | 1,295,889,430,798 | 1,221,327,494,543 | 1,184,668,838,066 |
| Source accessions | 0000891478-26-000078, 6-K | ||
| Conversion | |||
| Currency | EUR | EUR | EUR |
| Average | |||
| Eur per USD | 0.859711 | 0.854592 | 0.881712 |
| Ads ratio | 1.0 | 1.0 | 1.0 |
| Closing | |||
| Eur per USD | 0.874891 | 0.867303 | 0.851064 |
- Accounting basis, Q2 2026. IFRS; three-month figures from the summarized statutory income statement and key consolidated data in the H1 2026 report on Form 6-K; 30 June 2026 balance sheet from the interim condensed consolidated balance sheet
- Accounting basis, Q1 2026. IFRS; three-month figures from the summarized statutory income statement and key consolidated data (Q1'26 and Mar-26 columns) in the H1 2026 report on Form 6-K
- Accounting basis, Q2 2025. Balance sheet and capital figures at 30 June 2025 from the key consolidated data (Jun-25 column) of the H1 2026 report on Form 6-K; underlying attributable profit for the quarter from the H1 2026 earnings presentation on Form 6-K (accession 0000891478-26-000073). The filings do not print a statutory income statement for this quarter.
- Conversion: average source, Q2 2026. FRED DEXUSEU, average of 63 daily rates 2026-04-01 to 2026-06-30
- Conversion: average source, Q1 2026. FRED DEXUSEU, average of 61 daily rates 2026-01-01 to 2026-03-31
- Conversion: average source, Q2 2025. FRED DEXUSEU, average of 63 daily rates 2025-04-01 to 2025-06-30
- Conversion: closing source, Q2 2026. H1 2026 report on Form 6-K (accession 0000891478-26-000078), 'Exchange rates: 1 euro / currency parity' table: US dollar 1.143 (Jun-26 period-end, balance sheet); inverted to euros per US dollar
- Conversion: closing source, Q1 2026. H1 2026 report on Form 6-K (accession 0000891478-26-000078), 'Exchange rates: 1 euro / currency parity' table: US dollar 1.153 (Mar-26 period-end, balance sheet); inverted to euros per US dollar
- Conversion: closing source, Q2 2025. H1 2026 report on Form 6-K (accession 0000891478-26-000078), 'Exchange rates: 1 euro / currency parity' table: US dollar 1.175 (Jun-25 period-end, balance sheet); inverted to euros per US dollar
SAN year-to-date income statement and cash flow
| H1 2026 (six months ended 30 June 2026) | H1 2025 (six months ended 30 June 2025) | |
|---|---|---|
| Period start | 2026-01-01 | 2025-01-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | six months | six months |
| Source accession | 0000891478-26-000078 | 0000891478-26-000078 |
| Income statement | ||
| Net interest income | 26,481,023,934 | 23,162,409,869 |
| Net fee income | 7,988,265,377 | 6,925,463,363 |
| Gains on financial assets and liabilities and exchange differences | 853,511,933 | 1,126,943,896 |
| Dividend income | 727,583,943 | 514,331,953 |
| Share of results of equity method entities | 555,015,957 | 362,543,967 |
| Other operating income and expenses net | -666,951,948 | -447,719,959 |
| Total income | 35,938,449,197 | 31,643,973,089 |
| Operating expenses | 14,615,808,860 | 13,538,614,754 |
| Administrative expenses | 12,672,087,012 | 11,763,022,918 |
| Staff costs | 8,080,379,370 | 7,355,711,323 |
| Other general administrative expenses | 4,591,707,642 | 4,407,311,595 |
| Depreciation and amortization | 1,943,721,848 | 1,775,591,837 |
| Provisions net | 2,040,499,841 | 1,105,103,898 |
| Credit impairment charges | 7,661,785,402 | 7,124,207,345 |
| Impairment of other assets | 34,979,997 | 160,523,985 |
| Gains on non financial assets and investments | 18,655,999 | -34,943,997 |
| Negative goodwill recognised | 5,830,000 | 24,023,998 |
| Gains on non current assets held for sale | 4,664,000 | 236,963,978 |
| Profit before tax | 11,614,525,094 | 9,941,567,085 |
| Tax expense | 2,847,371,778 | 2,584,763,762 |
| Profit from continuing operations | 8,767,153,316 | 7,356,803,323 |
| Profit from discontinued operations | 2,209,569,828 | 792,791,927 |
| Profit for the period | 10,976,723,144 | 8,149,595,250 |
| Profit attributable to non controlling interests | 514,205,960 | 687,959,937 |
| Net income attributable to parent | 10,462,517,184 | 7,461,635,314 |
| Interest income | 61,023,771,240 | 56,061,090,842 |
| Interest expense | 34,542,747,306 | 32,898,680,973 |
| Basic EPS | 0.6996 | 0.4696 |
| Diluted EPS | 0.6996 | 0.4696 |
| Net income attributable to common shareholders | 10,091,729,213 | 7,123,115,345 |
| Weighted average basic shares | 14,458,003,078 | 14,995,834,683 |
| Weighted average diluted shares | 14,540,065,782 | 15,076,878,405 |
| Non GAAP | ||
| Underlying net interest income | 26,481,023,934 | 23,190,801,866 |
| Underlying total income | 35,967,599,195 | 31,630,869,090 |
| Underlying net operating income | 20,563,574,396 | 17,160,778,421 |
| Underlying profit before tax | 12,064,601,059 | 10,197,095,062 |
| Underlying profit attributable to parent | 8,544,447,334 | 6,963,683,359 |
| Underlying EPS | 0.5597 | 0.4368 |
| Efficiency ratio % | 42.8% | 45.7% |
| Underlying return on tangible equity % | 15.6% | 14.9% |
| Key metrics | ||
| Return on equity % | 15.1% | 13.6% |
| Return on tangible equity % | 17.4% | 16.0% |
| Return on assets % | 0.91% | 0.81% |
| Return on risk weighted assets % | 2.81% | 2.35% |
| Cash flow | ||
| Net cash from operating activities | -22,455,992,248 | 2,843,567,738 |
| Net cash from investing activities | 7,314,317,429 | -614,795,943 |
| Payments for tangible assets | 3,316,103,741 | 3,496,583,678 |
| Payments for intangible assets | 797,543,938 | 886,703,918 |
| Net cash from financing activities | -6,712,661,476 | -8,799,335,190 |
| Dividends paid | 2,098,799,836 | 1,794,155,835 |
| Acquisition of own equity instruments | 5,410,239,578 | 2,206,931,797 |
| Effect of exchange rate differences | 2,279,529,822 | -8,938,019,178 |
| Net change in cash and cash equivalents | -19,574,806,473 | -15,508,582,573 |
| Cash and cash equivalents at end of period | 157,743,078,852 | 209,157,008,169 |
| Conversion | ||
| Currency | EUR | EUR |
| Average | ||
| Eur per USD | 0.857633 | 0.915751 |
| Ads ratio | 1.0 | 1.0 |
| Closing | ||
| Eur per USD | 0.874891 | 0.851064 |
- Accounting basis, H1 2026 (six months ended 30 June 2026). IFRS as adopted by the EU, IAS 34 interim condensed consolidated financial statements (unaudited), H1 2026 report on Form 6-K
- Accounting basis, H1 2025 (six months ended 30 June 2025). IFRS as adopted by the EU, IAS 34 interim condensed consolidated financial statements (unaudited), H1 2026 report on Form 6-K; comparative column, as re-presented in the H1 2026 report
- Conversion: average source, H1 2026 (six months ended 30 June 2026). H1 2026 report on Form 6-K (accession 0000891478-26-000078), 'Exchange rates: 1 euro / currency parity' table: US dollar 1.166 (H1'26 average, income statement); inverted to euros per US dollar
- Conversion: average source, H1 2025 (six months ended 30 June 2025). H1 2026 report on Form 6-K (accession 0000891478-26-000078), 'Exchange rates: 1 euro / currency parity' table: US dollar 1.092 (H1'25 average, income statement); inverted to euros per US dollar
- Conversion: closing source, H1 2026 (six months ended 30 June 2026). H1 2026 report on Form 6-K (accession 0000891478-26-000078), 'Exchange rates: 1 euro / currency parity' table: US dollar 1.143 (Jun-26 period-end, balance sheet); inverted to euros per US dollar
- Conversion: closing source, H1 2025 (six months ended 30 June 2025). H1 2026 report on Form 6-K (accession 0000891478-26-000078), 'Exchange rates: 1 euro / currency parity' table: US dollar 1.175 (Jun-25 period-end, balance sheet); inverted to euros per US dollar
SAN trailing twelve month income statement and cash flow
| Twelve months ended 30 June 2026 (derived) | |
|---|---|
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | 0000891478-26-000078 |
| Source accessions | 20-F, 0000891478-26-000078 |
| Income statement | |
| Net interest income | 51,148,412,985 |
| Total income | 70,170,424,720 |
| Profit before tax | 22,790,952,675 |
| Profit for the period | 20,356,480,455 |
| Net income attributable to parent | 18,945,023,155 |
| Conversion | |
| Currency | EUR |
| Average | |
| Eur per USD | 0.85727 |
- Derivation. FY2025 plus H1 2026 less H1 2025, computed in euros before conversion. Net interest income, profit before tax and profit attributable to the parent use the FY2025 Form 20-F figures, which the H1 2026 report's 2025 column repeats unchanged; total income uses the H1 2026 report's re-presented 2025 figure (EUR 58,311 million) so that all three terms share the 2026 presentation
- Conversion: average source. FRED DEXUSEU, average of 250 daily rates 2025-07-01 to 2026-06-30
Adjustments
| Splits applied | none |
|---|---|
| Splits note | No share splits in the periods covered; no per-share restatement applied. |
| ADR ratio | 1 |
| ADR note | The FY2025 Form 20-F cover lists 'American Depositary Shares, each representing the right to receive one Share of Capital Stock of Banco Santander, S.A.' on the New York Stock Exchange. One ADS therefore equals one ordinary share, and every per-share figure here (earnings per share, underlying earnings per share, tangible book value per share) is stated per ADS, which at this ratio equals the per-share amount the filings print, converted to US dollars. Totals and share counts are as filed. |
| FX | Santander reports in euros. Every money figure is converted to US dollars: income statement, cash flow and per-share earnings at the average rate for the period, balance sheet figures and tangible book value per share at the rate on the balance sheet date, and cash at the end of a period at that date's rate. Where the filings state a rate, it is used: the FY2025 Form 20-F gives 1 euro = US$1.129 (2025 average), US$1.082 (2024 average), US$1.176 (31 December 2025) and US$1.039 (31 December 2024); the H1 2026 report gives US$1.166 (H1 2026 average), US$1.092 (H1 2025 average), US$1.143 (30 June 2026), US$1.153 (31 March 2026) and US$1.175 (30 June 2025). The filings state no rate for the three-month periods, for FY2023 or for the trailing twelve months, so those use the US Federal Reserve euro rate (FRED series DEXUSEU). Each period records the rate it used under 'conversion'. Percentages, ratios and share counts are not converted. |
Notes
- Template: bank. Banco Santander reports under IFRS as adopted by the European Union, in euros. The income statement follows Santander's own summarized statutory income statement: net interest income, net fee income, gains or losses on financial assets and liabilities and exchange differences, dividend income, share of results of entities accounted for using the equity method and other operating income and expenses (net) make up total income; below it come operating expenses, provisions, impairment of financial assets (credit_impairment_charges, the loan-loss charge), impairment of other assets and smaller gains and losses, then profit before tax, tax, profit from continuing and discontinued operations, profit attributable to non-controlling interests and profit attributable to the parent.
- Sign convention: charges are stored as positive amounts (interest expense, operating expenses and their components, provisions_net, credit_impairment_charges, impairment_of_other_assets, tax_expense and profit attributable to non-controlling interests). Lines that can be either a gain or a loss (other_operating_income_and_expenses_net, gains_on_non_financial_assets_and_investments, gains_on_non_current_assets_held_for_sale, negative_goodwill_recognised) keep the sign the filing prints.
- Sources: the annual periods come from the FY2025 Form 20-F (accession 0000891478-26-000030), whose statements print the 2025, 2024 and 2023 income statements and cash flows and balance sheets as of 31 December 2025, 2024 and 2023. The grouped income statement lines for those years come from the 20-F's condensed income statement in its economic and financial review, which groups the lines of the consolidated income statement and carries the same total income, profit before tax and profit attributable to the parent. The half-year and quarterly periods come from the January-June 2026 report on Form 6-K (accession 0000891478-26-000078, filed 24 July 2026), which contains the interim consolidated directors' report and the unaudited interim condensed consolidated financial statements. The same half-year financial report was also furnished on Form 6-K on 22 July 2026 (accession 0000891478-26-000071, without the condensed financial statements) and on 24 July 2026 (accession 0000891478-26-000076); the figures used here are identical in all three.
- Santander's interim financial statements cover half-years. The three-month figures for Q2 2026 and Q1 2026 come from the H1 2026 report's summarized statutory income statement, which prints Q2'26 and Q1'26 columns alongside H1'26 and H1'25; Q1 2026 plus Q2 2026 equals the half-year 2026 figure on every line. The 30 June 2026 balance sheet sits on the Q2 2026 entry. For 31 March 2026 and 30 June 2025 the report prints only total assets, loans and advances to customers, customer deposits and total equity (key consolidated data), so those entries carry only those balance sheet lines.
- Q2 2025: the filings for this period print no statutory income statement for the three months to 30 June 2025; the H1 2026 report compares Q2 2026 with Q1 2026, and H1 2026 with H1 2025. The Q2 2025 entry therefore carries the 30 June 2025 balance sheet, capital and credit quality figures from the report's key consolidated data, and one income figure: underlying profit attributable to the parent of EUR 3,212 million, from the H1 2026 earnings presentation on Form 6-K (accession 0000891478-26-000073). That figure, together with the presentation's Q1 2025 figure of EUR 3,165 million, adds up to the H1 2025 underlying profit of EUR 6,377 million printed in the H1 2026 report. A year-on-year comparison for the second quarter is therefore only possible on the underlying basis.
- Statutory versus underlying results: the income_statement blocks are statutory IFRS figures. Santander also reports 'underlying' results, an alternative performance measure that excludes items it considers outside the ordinary course of business; these sit under non_gaap. In H1 2026 statutory profit attributable to the parent was EUR 8,973 million and underlying profit EUR 7,328 million. The EUR 1,645 million difference is the EUR 1,895 million net capital gain on completing the sale of Santander Bank Polska, booked in Q1 2026 in profit from discontinued operations, less EUR 250 million (net of tax) of restructuring costs for the TSB acquisition booked in Q2 2026. That gain is why Q1 2026 statutory profit attributable (EUR 5,455 million) is well above Q2 2026 (EUR 3,518 million), while underlying profit rose from EUR 3,560 million to EUR 3,768 million.
- Poland disposal: from its announcement in May 2025, the business subject to the sale of Santander Bank Polska is reported as a discontinued operation, so its results sit in a single line, profit from discontinued operations, in every 2025 period and in the FY2024 and FY2023 figures as presented in the FY2025 Form 20-F. The 20-F notes that its 2024 and 2023 income statements therefore differ from those filed with the SEC in February 2025. At 31 December 2025 the business's assets (within EUR 75,011 million of non-current assets held for sale) and liabilities (EUR 62,995 million) were held for sale. The sale was completed on 9 January 2026.
- TSB: Santander completed the acquisition of TSB Banking Group plc on 30 April 2026, and TSB's results are consolidated from 1 May 2026. The 30 June 2026 balance sheet includes TSB (about EUR 53 billion of total assets, according to the H1 2026 report), which affects comparisons with earlier dates.
- Re-presented comparatives: from 2026 Santander changed the presentation of certain charges (mainly levies), applying it retrospectively. In the H1 2025 comparative, EUR 238 million of charges were re-presented, of which EUR 204 million moved from 'other provisions' to 'other operating expenses'. The H1 2025 figures here are as re-presented in the H1 2026 report. FY2025, FY2024 and FY2023 are as reported in the FY2025 Form 20-F. The H1 2026 report's 2025 column shows total income of EUR 58,311 million and net operating income of EUR 33,532 million on the new presentation, against EUR 58,670 million and EUR 33,959 million in the 20-F. Net interest income, profit before tax and profit attributable to the parent are unchanged. FY2025 total income is therefore not strictly comparable with the 2026 periods.
- Earnings per share: Santander computes earnings per share on profit attributable to the parent less the remuneration of its contingently convertible preferred securities (net_income_attributable_to_common_shareholders: EUR 8,655 million in H1 2026, EUR 13,479 million in FY2025). Diluted shares are the 'adjusted number of shares' in the earnings per share notes. Three-month earnings per share are printed to two decimals of a euro (EUR 0.23 for Q2 2026, EUR 0.36 for Q1 2026), so the converted quarterly figures carry that rounding. Q1 2026 earnings per share include the Poland capital gain.
- Profitability ratios (key_metrics) are Santander's own, as printed; ratios for a quarter or half-year are annualized by Santander. Santander's RoTE deducts the cost of its AT1 instruments from the numerator. For the annual periods the 20-F's 'RoTE (post-AT1)' line is used, because that is the definition the H1 2026 report applies. The 20-F's headline RoTE for 2025 (17.1%) does not deduct AT1 costs.
- The efficiency ratio, cost of risk and underlying RoTE are alternative performance measures on Santander's underlying basis. They are given only for the periods in the H1 2026 report, because the 20-F calculated its 2025 versions including the Poland business (for example, an efficiency ratio of 41.2% in the 20-F against 45.3% for 2025 in the H1 2026 report). Cost of risk is a twelve-month measure at each date: underlying loan-loss provisions over the last twelve months divided by average loans and advances to customers and debt securities issued by non-financial institutions over the same twelve months.
- Loans and advances to customers and customer deposits are Santander's totals across all balance sheet categories (held for trading, at fair value and at amortised cost), net of impairment for loans, as printed in its key consolidated data; the 20-F's notes 10 and 21 print the same year-end totals. At 31 December 2025 they exclude the Poland business held for sale. Customer deposits include repurchase agreements (EUR 96,791 million at 31 December 2025, per note 21).
- Shares: period_end_shares_outstanding is the number of shares printed in Santander's key data ('Shares (millions)'; 14,689 million at 30 June 2026). This is Santander's issued share capital (14,689 million shares of EUR 0.50 each, share capital of EUR 7,345 million), and it includes own shares the bank has bought back and not yet cancelled. The H1 2026 condensed consolidated balance sheet (accession 0000891478-26-000078) carries own shares at EUR 3,815 million at 30 June 2026, against EUR 96 million at 31 December 2025, so at 30 June 2026 the figure overstates the number of shares actually outstanding. The filings print the own-share holding as a euro amount only, not as a share count. Earnings per share use the weighted average number of shares outstanding from the earnings per share notes (14,458 million for H1 2026).
- Cash flow: Santander publishes cash flow statements only for half-years and full years, so the quarterly entries carry no cash flow figures. payments_for_tangible_assets is the cash flow statement's 'Tangible assets' payments line. Santander's tangible assets include assets leased out under operating leases, so this line is not comparable with an industrial company's capital expenditure, and no free cash flow is shown. cash_and_cash_equivalents_at_end_of_period is the cash flow statement's closing figure. At 31 December 2025 it includes EUR 2,515 million associated with assets held for sale, so it exceeds the balance sheet's cash line (EUR 152,281 million).
- The trailing twelve months to 30 June 2026 are derived as FY2025 plus H1 2026 less H1 2025, in euros before conversion. Total income uses the re-presented FY2025 figure (EUR 58,311 million) so that every term shares the 2026 presentation.
Uncertainties
- Q2 2025 has no statutory three-month income statement in the filings for this period, so the quarter's net interest income, total income, costs and statutory profit are absent. The one income figure it carries, underlying attributable profit of EUR 3,212 million, comes from a chart in the earnings presentation. It is consistent with the H1 2025 underlying total in the H1 2026 report.
- Annual income statement figures are as originally reported in the FY2025 Form 20-F. Santander's 2026 change in the presentation of certain charges moves total income and operating expenses for 2025 (total income EUR 58,311 million rather than EUR 58,670 million). Only the 2025 summary lines are re-presented in the filings for this period, so FY2025, FY2024 and FY2023 are not restated here.
- Quarterly earnings per share are converted from amounts printed to two decimals of a euro, so they carry rounding of up to half a euro cent before conversion.
- Filing-stated exchange rates are printed to three decimals (for example 1.143 US dollars per euro at 30 June 2026), which limits the precision of the converted figures to about 0.05%.
Company details
| Name | Banco Santander, S.A. |
|---|---|
| Ticker | SAN |
| CIK | 0000891478 |
| Exchange | NYSE |
| State | Spain |
| Incorporation | Spain |
| SIC | 6029 |
| Office | Finance |
| Industry | Commercial Banks, NEC |
Fiscal period
| Fiscal year | 2026 |
|---|---|
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 6-K |
| Accession | 0000891478-26-000073 |
| Fiscal year end | 1231 |
| Source | derived |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Source |
|---|---|---|---|---|---|---|---|---|---|
| annual | no | 20-F | 2025 | FY | FY25 | 2025-12-31 | 2026-02-27 | 0000891478-26-000030 | reported |
| quarterly | yes | 6-K | 2026 | Q2 | FY26Q2 | 2026-06-30 | 2026-07-22 | 0000891478-26-000073 | derived |
FAQ · Banco Santander, S.A. financial statements
How much did Banco Santander earn in Q2 FY2026?
Banco Santander reported net income attributable to shareholders of $4.09 billion for Q2 FY2026, the quarter ended June 30, 2026, or $0.27 per diluted share. Excluding an after-tax restructuring charge for integrating TSB, its underlying attributable profit was $4.38 billion.
What was Banco Santander's revenue in Q2 FY2026?
Banco Santander's total income, its revenue after interest expense, was $18.24 billion for Q2 FY2026, the quarter ended June 30, 2026.
How did Banco Santander's underlying profit compare with a year ago?
Banco Santander's underlying attributable profit was $4.38 billion in Q2 FY2026, up 20.3% from $3.64 billion in the same quarter a year earlier. Santander reports in euros, so the change in US dollar terms also reflects exchange-rate movements.
What is Banco Santander's CET1 capital ratio?
Banco Santander's phased-in common equity tier 1 (CET1) capital ratio was 14.0% at June 30, 2026, up 1.0 points from a year earlier, but down from the end of March because of the TSB purchase. Management expected the acquisition of Webster Financial, completed in August, to reduce the ratio in the second half.
Where can I get Banco Santander, S.A. (SAN) financial data in machine-readable form?
Ticker Scout publishes Banco Santander, S.A.'s financial statements as JSON at https://tickerscout.ai/san/financials.json, free, with no API key and no signup. The 20-F and 6-K narrative and the 6-K events digest are published as Markdown at https://tickerscout.ai/san/narrative.md and https://tickerscout.ai/san/events.md. Banco Santander, S.A.'s SEC CIK is 0000891478. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Banco Santander, S.A. (SAN) next file with the SEC?
Banco Santander, S.A. (SAN) is expected to file its next Form 6-K with the SEC on or around October 28, 2026. That date is a projection rather than a company-announced date: it is derived from Banco Santander, S.A.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 6-K for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000891478-26-000073.
How this page was built
This page was built from five of Banco Santander, S.A.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names four such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Banco Santander, S.A.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.