Banco Santander Reports Record First-Half Profit in 2025

SEC Filing 6-K (0000891478-25-000101)

Banco Santander, S.A. reported a record first-half profit of €6,833 million for 2025, marking a 13% increase year-on-year. The bank achieved a return on tangible equity (RoTE) of 16% post-AT1 and a CET1 capital ratio of 13%, driven by strong organic capital generation. Revenue remained stable at €31 billion, with record net fee income of €6,684 million (+3% year-on-year). Operating expenses decreased by 0.4%, improving the efficiency ratio to 41.5%, the best in over 15 years. Credit quality improved, with the cost of risk falling to 1.14%. The bank added eight million new customers, bringing the total to 176 million. Santander announced a new share buyback program of approximately €1.7 billion, equivalent to 25% of the first-half profit. The bank reaffirmed its 2025 targets and expects to deliver at least €10 billion in share buybacks from 2025 and 2026 earnings and excess capital.