Finance
Spain's Santander Says It Is on Track to Meet 2026 Targets
Published by Global Banking & Finance Review®
Posted on March 27, 2026
2 min readLast updated: March 27, 2026
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Santander reaffirmed its targets for 2026—mid‑single‑digit revenue growth, higher profits, lower costs in constant euros and a CET1 ratio of 12.8–13%—after strong Q1 customer growth and continued momentum following a record €14.1 billion profit in 2025.
Spain's Santander reaffirms financial targets despite global uncertainty
Santander's Financial Outlook and Strategic Positioning
Reaffirmation of 2026–2028 Financial Targets
MADRID, March 27 (Reuters) - Spain's Santander said on Friday it had reaffirmed its 2026–2028 financial targets despite global economic uncertainty, citing its diversified business model after a strong start to 2026.
Progress Towards 2026 Goals
Continued Positive Trends and Client Growth
The euro zone's largest lender by market value said it was also on track to meet its 2026 goals as positive trends from previous years continued into the first quarter, supported by client growth and rising revenues. Costs were expected to fall year on year in constant euros.
Profit Target Increase and Market Contributions
Last month, Santander hiked its profit target by over 40% to above 20 billion euros in 2028 compared to 2025, helped by growth in its U.S. and UK markets.
Executive Leadership Perspective
Ana Botin's Statement on Risk Mitigation
Executive Chair Ana Botin said in a statement as part of a speech she was expected to deliver during the bank's shareholders' meeting on Friday that its balanced presence across different countries would "significantly" mitigate risk by reducing volatility in a global environment that was becoming increasingly complex.
Global Economic Challenges
Inflation, Growth, and Geopolitical Risks
"The world now faces the scenario of higher inflation and lower growth, threats that become more likely with each passing day. Their severity will depend on the duration of the conflict (in the Gulf) and its impact on global energy supply," Botin said in the statement.
(Reporting by Jesús Aguado; editing by Emma Pinedo)
Key Takeaways
- •In 2025, Santander delivered a record attributable profit of €14.1 billion, added eight million customers (180 million total), achieved €62.4 billion in revenue, and improved efficiency and RoTE to 16.3% post‑AT1, with CET1 at 13.5% (santander.com).
- •For 2026, the bank targets mid‑single‑digit revenue growth and lower costs in constant euros, higher profits than 2025, and a CET1 ratio of 12.8–13%, excluding perimeter impacts (santander.com).
- •Santander’s positive Q1 performance—growing both customer base and revenue while expecting lower costs in constant euros—signals the bank is on track to meet its 2026 full‑year targets, per Executive Chair Ana Botín (santander.com).
References
- Santander Results 2025 - Santander delivers record full-year results, adding eight million customers to 180 million, with earnings per share up 17%
- 2025 Santander Annual General Meeting- Santander expects continued growth in the first quarter, with RoTE post-AT1 improving to c.15.7%, CET1 rising to 12.9% and all 2025 targets reaffirmed
Frequently Asked Questions about Spain's Santander says it is on track to meet 2026 targets
1What financial targets has Santander set for 2026?
Santander aims for higher profits compared to its record in 2025 and mid-single digit revenue growth in constant euros by 2026.
2How is Santander performing in early 2026?
Santander reported ongoing customer and revenue growth in the first quarter of 2026, continuing positive trends from previous years.
3Which income streams are expected to grow fastest for Santander?
Fee income is expected to grow faster than net interest income according to Santander's outlook.
4What cost expectations does Santander have for 2026?
Santander expects costs to decline year-on-year in constant euros.
5Who commented publicly regarding Santander's 2026 progress?
Executive Chair Ana Botin made statements on Santander's positive trends and financial outlook for 2026.
