EarningsQ2 2026 Earnings Report
DE:BSDK Q2 2026 EPS Results
Actual EPS€0.23
Consensus EPS€0.25
Beat/MissMissed by -€0.02
One Year Ago EPS€0.23
DE:BSDK Q2 2026 Revenue Results
Actual Revenue€34.23B
Expected Revenue€15.95B
Beat/MissBeat by +€18.28B
YoY Revenue Growth+130.95%
Earnings Announcement Details
QuarterQ2 2026
Date07/22/2026
TimeBefore Open
Conference CallWednesday, July 22, 2026
DE:BSDK Upcoming Earnings
Banco Santander SA's next earnings date is estimated for October 28, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:BSDK Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented broad and tangible progress: record profit, top‑line growth across multiple businesses, strong customer and capital metrics, and clear execution on ONE Transformation. Headwinds are present—notably Argentina‑related provisions, motor finance charges in Openbank Europe, transformation costs and localized pressures in Brazil and some CIB trading volatility—but these are described as manageable, often one‑off, and offset by diversified revenue growth and capital generation. Management reiterated targets (including synergies from TSB and expected Webster close) and highlighted continued asset‑mobilization and buybacks.Company Guidance
Record Profit and Best Half Ever
Quarterly profit reached a record EUR 3.8 billion and H1 2026 was the best half ever; underlying profit grew 14% year‑on‑year.
Top‑Line Growth and Revenue Mix
Total revenue grew 6% year‑on‑year driven by net interest income up 6% and record fees up 7%; fee growth outpaced NII supporting revenue diversification.
Customer and Franchise Expansion
Customer base reached ~182 million (up >12 million YoY, including 4 million TSB customers); active customers rising and fees per active customer up 3%.
Efficiency and Profitability Improvements
Group efficiency ratio improved to 42.8% (efficiency improved by ~3 percentage points); underlying RoTE rose to 15.6% and is close to 17% at normalized CET1 levels.
Strong Capital Position and Buybacks
CET1 ratio stood at 14% (includes TSB); generated 27 bps of net organic capital in the quarter; ECB approved a new buyback up to EUR 1.8 billion and total buybacks expected around EUR 9 billion.
Segmental Momentum — CIB, Payments, Wealth, Retail
CIB revenue up 16% with profit up 17% YoY and new business RoTE around 23%; Payments revenue up 17% with EBITDA margin ~33% and Ebury profit up four‑fold (Rule of 40 >50%); Wealth profit up 19% with customer assets & liabilities +15%; Retail & Openbank revenue +4% while costs fell 3%, retail underlying profit +12%.
Openbank & U.S. Performance
Openbank underlying PBT up 15% excluding motor finance impact; U.S. franchise profit strong (profit up 26% YoY to EUR 989m), efficiency improved and NII/funding optimization contributing positively.
ALCO & Balance Sheet Management
ALCO portfolio at ~EUR 60 billion, average yield ~3.3% and duration ~6 years; interest rate sensitivity around EUR 450 million per 100 bps; active asset mobilization (EUR 13.4bn mobilized this quarter) to manage RWA and capital.
DE:BSDK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed