Banco Santander H1 2025 Earnings: Record Profit and Strategic Progress

SEC Filing 6-K (0000891478-25-000105)

Banco Santander reported record H1 2025 attributable profit of €6.8 billion, an 18% YoY increase in constant euros, driven by strong performances across all global businesses. Key achievements include a 16.0% RoTE post-AT1 (up 0.9pp YoY), a CET1 ratio of 13.0%, and 16% growth in TNAVps + Cash DPS. The ONE Transformation strategy improved efficiency (41.5% ratio) and added 8 million new customers. Retail profit rose 14% YoY, CIB achieved 20.8% RoTE, and Payments grew profit by 47% (excluding prior write-downs). The bank maintained robust credit quality (CoR 1.14%) and advanced capital productivity, with plans for €10bn in share buybacks (2025-26). Strategic highlights include the Poland stake sale and TSB acquisition, aligning with capital discipline and growth targets. The outlook reaffirms 2025 goals: mid-high single-digit revenue growth, CET1 range of 12-13%, and double-digit shareholder value growth.