Banco Santander announces third-quarter earnings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2025
0mins
Should l Buy SAN?
Source: SeekingAlpha
Q3 Financial Performance: Banco Santander reported a Q3 GAAP EPS of €0.23, with net interest income of €10.35 billion, reflecting a 2% year-over-year increase. Profit attributable to the parent reached €3,504 million, marking a sixth consecutive quarterly record.
CET1 Ratio and Profit Growth: The CET1 ratio stood at 13.1% at the end of September 2025, slightly above the target range. Year-to-date, attributable profit increased by 11% to €10,337 million, driven by strong performances across revenue lines and controlled costs.
Impact of Argentina: Despite challenges in Argentina, profit growth remained resilient, with a 4% increase when excluding its impact. The bank's solid net fee income and lower provisions contributed to overall profitability.
Future Outlook: Banco Santander's strong profit growth across global businesses positions it well to meet its 2025 targets, supported by a solid increase in revenue and flat costs in real terms.
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Analyst Views on SAN
Wall Street analysts forecast SAN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SAN is 7.40 USD with a low forecast of 4.90 USD and a high forecast of 9.91 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
0 Buy
1 Hold
1 Sell
Moderate Sell
Current: 12.230
Low
4.90
Averages
7.40
High
9.91
Current: 12.230
Low
4.90
Averages
7.40
High
9.91
About SAN
Banco Santander, S.A. is a Spain-based company engaged as a retail and commercial bank. The Banks segments include Continental Europe, the United Kingdom, Latin America and the United States. The Continental Europe segment covers all businesses in the Continental Europe. The United Kingdom segment includes the businesses developed by various units and branches in the country. The Latin America segment embraces all its financial activities conducted through its banks and subsidiaries in the region. The United States segment includes the Intermediate Holding Company (IHC) and its subsidiaries Santander Bank, Banco Santander Puerto Rico, Santander Consumer USA, Banco Santander International, Santander Investment Securities, and the Santander branch in New York. The Company's commercial model satisfies the needs of all types of customers: individuals with various income levels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Buyback Program Launch: The bank announced a €5.03B share buyback program, with €1.83B corresponding to 25% of the underlying profit for the second half of 2025, aimed at enhancing shareholder returns and boosting market confidence.
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- Acquisition Strategy: Banco Santander has agreed to acquire Webster Financial Corp. for approximately $12.3 billion, which is expected to expand its market share and drive double-digit revenue growth by 2027, enhancing overall profitability.
- Commitment to Buybacks: The board has approved a €5 billion share buyback program aimed at returning capital to shareholders against FY 2025 and 2026 earnings, demonstrating confidence in future performance and a strong commitment to enhancing shareholder value.
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- Capital Adequacy Ratio: The CET1 ratio stood at 13.5% as of December 2025, comfortably exceeding the upper limit of the 12-13% operating range, demonstrating a robust capital structure that supports future business expansion and risk management.
- Acquisition Plans: Santander is set to acquire Webster Financial in a deal valued at approximately $12.3 billion in cash and stock, which not only aims to enhance its market share but also strengthens its competitive position in the U.S. market, driving long-term growth.
- Regulatory Fine: The bank faced a fine of over €40 million due to deficiencies in Openbank's internal processes, which may exert short-term financial pressure, but the company is expected to mitigate future risks through improved compliance measures.
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