EarningsQ2 2026 Earnings Report

Banco Santander Brasil (BSBRN) Q2 2026 Earnings Report

1 Followers

Previous Report: Q1 2026

MX:BSBRN Q2 2026 EPS Results

Actual EPS$2.87

Consensus EPS$3.54

Beat/MissMissed by -$0.67

One Year Ago EPS$3.27

MX:BSBRN Q2 2026 Revenue Results

Actual Revenue$173.64B

Expected Revenue$75.81B

Beat/MissBeat by +$97.83B

YoY Revenue Growth+21.26%

Earnings Announcement Details

QuarterQ2 2026

Date07/29/2026

TimeBefore Open

Conference CallWednesday, July 29, 2026

MX:BSBRN Upcoming Earnings

Banco Santander Brasil's next earnings date is estimated for October 28, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:BSBRN Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 29, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call conveyed a balanced but cautious tone: the bank shows clear execution on client growth, deposit mobilization, product-level expansion (cards, customer finance, home equity) and strong cost discipline plus rapid AI adoption. However, these positives are materially offset by elevated provisioning, NII/ spread pressure driven by deferred expenses and lower rates, DTAs pressuring tangible capital, and uncertainty around macro and regulatory scenarios that push meaningful recovery of risk‑adjusted profitability toward 2027. Management emphasizes deliberate, defensive balance-sheet management that sacrifices short-term revenue for longer‑term resilience.

Company Guidance

Management guided that Santander Brasil closed Q2 with recurring net income of BRL 3.0 billion and ROAE/ROE of 12.5%, serving 76.2 million clients (+6% YoY), with 15% of eligible customers enrolled in Santander Rewards and a 30% increase in registered PIX keys; transactional deposits grew 18% YoY. Portfolio moves: cards +13% YoY, consumer finance +15%, SME loans +11.5%, home‑equity mortgages +40% YoY while the sub‑BRL 4,000 income segment fell ~30% YoY; client NII was roughly flat YTD but declined in the quarter, with management attributing ~10 bps of the quarterly (≈20 bps YTD) spread compression to deferred correspondent expenses and lower average CDI that should fade by year‑end. Provisions were hit by BRL 700m of one‑offs (wholesale cases and a new write‑off method) on top of Q1 loan‑loss provisions of BRL 7.7 billion; efficiency ratio was 39.3%, 100% of employees now have AI tools, and low‑income cost‑to‑serve is down >30% over two years. Guidance: payout policy unchanged at ~50%, DTAs turnaround expected in 2027–28, and management expects risk‑adjusted NII and ROE to recover over the medium term (Camila suggested improvement by next year; Carlos was more conservative toward 2027).

Recurring Net Income and ROAE

Recurring net income of BRL 3.0 billion for the quarter and ROAE (ROE) of 12.5%, reflecting ongoing profitability despite macro challenges.

Customer Base Growth and Engagement

Client base reached 76.2 million, a 6% increase year-over-year. Early Santander Rewards adoption at 15% of eligible customers and card spending uplift in initial cohorts indicate stronger engagement and primacy.

Strong Deposit and Funding Trends

Transactional deposits grew 18% year-over-year, expanding retail funding share and improving funding composition and client loyalty.

Selective Loan Portfolio Growth by Product

Targeted, higher-quality origination produced year-over-year growth in key products: cards +13%, customer finance +15%, and small & midsized enterprises in retail banking +11.5%.

Mortgage and Home Equity Expansion

Home equity (mortgage) portfolio grew ~40% year-over-year, reflecting a shift toward secured, lower-risk lending products.

Cost Discipline and Efficiency Initiatives

Personnel and administrative expenses grew well below inflation; cost-to-serve in the low‑income segment declined by more than 30% over the past two years. Efficiency ratio closed at 39.3% but cost discipline remains in place.

Technology and AI Adoption

100% of employees have access to AI-powered tools; AI is being used both to reduce cost-to-serve and to deepen client monetization through more personalized offerings.

Non-credit Revenue Strength

Resilient performance in credit cards, consortiums and improved results in non-credit related insurance businesses, supporting diversification away from unsecured credit.

MX:BSBRN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 28, 2026	2026 (Q3)	3.16 / -	3.65	―
Jul 29, 2026	2026 (Q2)	3.54 / 2.87	3.269	-12.22% (-0.40)
Apr 29, 2026	2026 (Q1)	3.80 / 3.58	3.36	6.49% (+0.22)
Feb 04, 2026	2025 (Q4)	3.70 / 3.90	3.087	26.47% (+0.82)
Oct 29, 2025	2025 (Q3)	3.25 / 3.65	2.96	23.31% (+0.69)
Jul 30, 2025	2025 (Q2)	3.23 / 3.27	2.851	14.65% (+0.42)
Apr 30, 2025	2025 (Q1)	3.14 / 3.36	2.688	25.00% (+0.67)
Feb 05, 2025	2024 (Q4)	3.05 / 3.09	2.125	45.30% (+0.96)
Oct 29, 2024	2024 (Q3)	3.03 / 2.96	2.724	8.67% (+0.24)
Jul 24, 2024	2024 (Q2)	2.83 / 2.85	2.234	27.64% (+0.62)

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