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Banco Santander Brasil
(NYSE:BSBR)
Banco Santander Brasil (BSBR) vs. SPDR S&P 500 ETF (SPY)
Banco Santander Brasil Business Overview & Revenue Model
Banco Santander Brasil Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 151.54B | 129.02B | 121.36B | 110.90B | 75.34B |
| Gross Profit | 41.70B | 43.92B | 35.54B | 41.96B | 46.50B |
| EBITDA | 19.35B | 21.92B | 14.66B | 22.16B | 27.18B |
| Net Income | 12.77B | 13.37B | 9.45B | 14.29B | 15.53B |
Balance Sheet | |||||
| Total Assets | 1.27T | 1.24T | 1.12T | 985.45B | 931.21B |
| Cash, Cash Equivalents and Short-Term Investments | 271.43B | 296.96B | 253.04B | 205.07B | 202.81B |
| Total Debt | 129.96B | 135.37B | 144.02B | 126.66B | 98.68B |
| Total Liabilities | 1.14T | 1.12T | 1.00T | 874.77B | 825.23B |
| Stockholders Equity | 125.17B | 119.49B | 114.45B | 110.18B | 105.64B |
Cash Flow | |||||
| Free Cash Flow | 1.34B | -23.74B | 33.26B | 3.98B | 4.44B |
| Operating Cash Flow | 4.99B | -21.13B | 36.61B | 6.85B | 6.81B |
| Investing Cash Flow | -3.32B | -2.02B | -2.58B | -2.71B | -1.93B |
| Financing Cash Flow | 4.40B | 930.18M | 5.82B | 12.75B | -658.51M |
Banco Santander Brasil Technical Analysis
Banco Santander Brasil Risk Analysis
Banco Santander Brasil Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $26.61B | 11.79 | 19.28% | 4.82% | 8.72% | 27.70% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $19.55B | 14.56 | 21.25% | 5.56% | -11.64% | -8.75% | |
65 Neutral | $4.48B | 28.90 | 4.69% | 2.37% | -55.81% | -78.94% | |
64 Neutral | $35.76B | 8.31 | 13.55% | 2.48% | 5.89% | 34.68% | |
57 Neutral | $21.82B | 8.16 | 11.15% | 4.98% | 1.13% | -11.93% | |
56 Neutral | $14.95B | 12.58 | 21.37% | 4.29% | 12.43% | 56.30% |
Banco Santander Brasil Corporate Events
On March 2, 2026, the board of directors of Banco Santander (Brasil) S.A. met by conference call in São Paulo and formally accepted the resignation of Enrique Cesar Suarez Fragata Lopes from his position as an officer without specific designation. The decision, approved unanimously with all board members in attendance, signals a limited management adjustment rather than a broader strategic shift, with remaining executives continuing to oversee the bank’s operations and corporate governance.
The minutes of the meeting, signed electronically by the chairwoman, vice chairman and directors, confirm that the resignation letter was filed at the company’s headquarters on the same day. The filing of this decision with the U.S. Securities and Exchange Commission on March 3, 2026, underscores the Brazilian lender’s adherence to disclosure obligations for foreign private issuers and provides transparency to international investors about changes in its executive lineup.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
Banco Santander (Brasil) S.A. announced that on February 27, 2026 it filed its 2025 Annual Report on Form 20-F with both the U.S. Securities and Exchange Commission and the Brazilian Comissão de Valores Mobiliários, and made the document available on its investor relations website. The filing includes detailed financial and operational information for 2025, Sarbanes-Oxley certifications attesting to the effectiveness of the bank’s internal controls, and an unqualified audit opinion from PricewaterhouseCoopers on its financial statements and internal control over financial reporting as of December 31, 2025, underscoring the bank’s commitment to transparency and regulatory compliance for investors in Brazil and abroad.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
Banco Santander (Brasil) S.A. has released its consolidated financial statements for the fiscal year ended December 31, 2025, prepared under IFRS and accompanied by a management report and independent auditor’s opinion. The publication, which includes detailed disclosures on balance sheet composition, income, cash flows, risk management and segment reporting, reinforces the bank’s adherence to international accounting standards and provides investors with a comprehensive view of its financial position and performance at year-end 2025.
The management report situates the 2025 results within a macroeconomic backdrop of resilient global growth of around 2.8–3% and gradually moderating inflation, even as major central banks, led by the Federal Reserve, shifted toward interest-rate cuts. It also notes that the prolonged 43-day U.S. government shutdown between October 1 and November 12, 2025, and evolving geopolitical dynamics added uncertainty and data gaps to the international environment, factors that could influence risk assessment and planning for Santander Brasil and its stakeholders going into 2026.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On February 27, 2026, the board of directors of Banco Santander (Brasil) S.A. met by conference call in São Paulo with full attendance, chaired by Deborah Stern Vieitas. The meeting was formally recorded as part of the bank’s governance as a foreign private issuer with securities registered in the United States.
At the meeting, the board unanimously approved the election of Christian George Egan as a Vice-President Executive Officer for a complementary term extending until the first board meeting after the 2027 ordinary shareholders’ meeting. His appointment, recommended by the Nomination and Governance Committee, will only become effective once it receives authorization from the Central Bank of Brazil, underscoring regulatory oversight and the bank’s adherence to local governance rules.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On February 27, 2026, Banco Santander Brasil’s board met by conference call in São Paulo and unanimously approved the management report and the bank’s IFRS financial statements for the fourth quarter and full year ended December 31, 2025. The directors also approved the prudential conglomerate’s financial statements, all accompanied by an unqualified opinion from PricewaterhouseCoopers and backed by a favorable recommendation from the audit committee, reinforcing the lender’s reporting transparency and regulatory compliance.
The board’s resolutions formalize 2025 results as the reference set of numbers for shareholders, regulators, and investors, clearing the way for subsequent corporate governance steps such as shareholder review and potential capital management decisions. The unqualified audit report supports market confidence in the bank’s risk management and accounting practices, which can be significant for funding costs and the institution’s positioning within Brazil’s competitive banking sector.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On February 27, 2026, the board of directors of Banco Santander (Brasil) S.A. met by conference call in São Paulo and unanimously approved the dismissal of Vice-President Executive Officer Renato Ejnisman from his position. The board formally recorded the decision in its minutes, expressed thanks for Ejnisman’s contributions during his tenure on the executive board, and closed the meeting without announcing an immediate replacement, signaling a notable change within the bank’s senior leadership team.
The minutes were signed electronically by Chairwoman Deborah Stern Vieitas, Vice Chairman Javier Maldonado Trinchant and the other directors, underscoring that the move was a collective and consensual board action. The corporate filing, submitted to U.S. securities regulators on February 27, 2026, indicates that Santander Brasil has initiated an adjustment in its top executive ranks, a development closely watched by investors and stakeholders given the strategic importance of executive leadership in Brazil’s competitive banking market.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On its BRGAAP earnings release for the fourth quarter of 2025, Santander Brasil reported net profit of R$4.1 billion, the bank’s highest quarterly result in four years, with a return on average equity of 17.6% and an expanded loan portfolio of R$708.2 billion, up 2.8% quarter-on-quarter and 3.7% year-on-year. Net interest income reached R$15.3 billion, slightly higher sequentially but down 4.0% year-on-year, while fee income rose 3.6% quarter-on-quarter and 4.3% year-on-year to R$5.8 billion; funding from clients grew to R$670.4 billion amid a deliberate shift in the funding mix toward individual customers to lower funding costs. Management highlighted that cost of risk remains stable but pressured by Brazil’s macroeconomic environment, and reiterated strict capital allocation, disciplined cost management and active risk management. The bank expanded its customer base by 6% over 12 months to 73.9 million, with higher Net Promoter Scores in both individual and corporate segments, and continued to push a customer‑centric strategy centered on transactionality, credit and investments, supported by intensive use of technology, data and analytics. Strategic initiatives in 2025 included the launch of the OneApp multi‑bank solution, an integrated payments journey that unifies transfers and payments and adds new Pix‑based features, and the ongoing development of a unified cloud‑based global card platform with the Santander Group, all aimed at deepening engagement, boosting fee generation and improving productivity as the bank enters 2026 focused on sustaining ROAE and profitable growth.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On February 4, 2026, Banco Santander (Brasil) S.A. submitted a Form 6-K to the U.S. Securities and Exchange Commission for the month of February 2026, confirming its status as a foreign private issuer that files annual reports on Form 20-F. The filing, executed by officer Reginaldo Antonio Ribeiro and Vice-President Executive Officer Gustavo Alejo Viviani, is largely procedural and does not disclose new operational or financial developments, but it reinforces the bank’s ongoing compliance with U.S. reporting requirements, supporting transparency for its international shareholders and maintaining its positioning in U.S. capital markets.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
At a board meeting held on February 2, 2026, Banco Santander (Brasil) S.A.’s directors unanimously approved the election of banker Carlos Ignacio Muñiz Gonzalez Blanch as a new Vice President Executive Officer, to serve a complementary term lasting until the first board meeting following the 2027 Ordinary Shareholders’ Meeting. The appointment, recommended by the bank’s Nomination and Governance Committee, is still contingent on formal approval from the Central Bank of Brazil and the granting of a work visa by the Ministry of Justice and Public Security, underscoring the regulatory and governance steps required before the new executive can effectively assume his role in the bank’s senior leadership team.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.50 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On January 15, 2026, Banco Santander (Brasil) S.A. held an Extraordinary General Meeting and has now released the final detailed voting map consolidating all distance and in-person votes cast on the meeting’s agenda items. The disclosure, made in accordance with Brazilian securities regulator CVM Resolution 81/22, provides a granular breakdown of shareholder participation by registration number, shareholding position and voting decisions, underscoring the bank’s adherence to local corporate governance and transparency requirements for its investors.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On January 15, 2026, Banco Santander (Brasil) S.A. announced that its 2026 Ordinary General Shareholders’ Meeting has been scheduled for April 29, 2026. The bank said that further information and documentation related to the meeting will be released in due course, signaling the start of its annual corporate governance and decision-making cycle for shareholders for the 2026 fiscal year.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
At an Extraordinary General Meeting held on January 15, 2026, in São Paulo, Banco Santander (Brasil) S.A. shareholders, representing 95.91% of the bank’s voting capital, approved changes to the composition and size of its Board of Directors. Investors voted to fix the board at 11 members and elected economist Antonio Carlos Quintella as a new independent director for a supplementary term running until the 2027 Ordinary General Meeting, subject to Central Bank of Brazil authorization, and then confirmed the full board slate led by independent chair Deborah Stern Vieitas. The move reinforces Santander Brasil’s governance structure with a high proportion of independent directors and signals continued alignment with Brazilian corporate law and regulatory requirements, which may bolster investor confidence in the bank’s oversight and strategic direction ahead of its next full board renewal in 2027.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On January 14, 2026, Banco Santander (Brasil) S.A. disclosed the consolidated remote voting results ahead of its Extraordinary General Meeting scheduled for January 15, 2026, detailing shareholder positions on key governance matters. Holders of common shares overwhelmingly approved fixing the number of board members and confirmed the composition of the Board of Directors, including support for independent director candidate Antonio Carlos Quintella and, in the event of cumulative voting, the proportional distribution of votes among selected candidates. The voting map also showed that while a significant minority of shareholders supported the request to establish a fiscal council under Brazilian corporate law, most votes were cast as abstentions, meaning the proposal did not advance to the meeting’s formal agenda, underscoring strong shareholder backing for the bank’s current governance structure with limited momentum for additional oversight bodies at this time.
The most recent analyst rating on (BSBR) stock is a Buy with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On January 9, 2026, Banco Santander (Brasil) S.A.’s board of directors approved a proposal to distribute R$2 billion in interest on equity for the 2026 fiscal year, subject to ratification by the 2027 annual shareholders’ meeting. The payout, equivalent to a net R$1.65 billion after withholding tax, will count toward the bank’s mandatory 2026 dividends and will be allocated per common share, preferred share and unit as specified, with shareholders on record at the close of trading on January 20, 2026 eligible and the shares trading ex‑interest as of January 21, 2026; payments are scheduled to begin on February 5, 2026, with ADR holders receiving funds via The Bank of New York Mellon in line with local market rules, underscoring Santander Brasil’s ongoing policy of returning capital to investors while maintaining its dividend commitments.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
At a board meeting held by conference call on January 9, 2026, Banco Santander (Brasil) S.A.’s directors approved the executive board’s proposal to declare and pay R$2 billion in interest on equity for the 2026 base year, equivalent to R$0.25517315448 per common share, R$0.28069046993 per preferred share and R$0.53586362441 per unit before withholding tax. After income tax, the net distribution amounts to R$1.65 billion, or R$0.21051785245 per common share, R$0.23156963769 per preferred share and R$0.44208749014 per unit, and will be fully deducted from the mandatory dividend for 2026. Shareholders of record at the close of trading on January 20, 2026 will be entitled to the payment, with the shares trading ex-interest on equity from January 21, 2026 and cash disbursement scheduled for February 5, 2026, underscoring the bank’s continued commitment to shareholder remuneration within the limits of Brazilian tax legislation.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On January 2, 2026, Banco Santander (Brasil) S.A.’s board of directors met by videoconference and approved governance changes in its executive team, electing Denis Ferro Junior, Maurício Caliggiuri Inforçati, and Nicolás Vergara as officers without specific designation for a complementary term that runs until the first board meeting following the 2027 ordinary general meeting. At the same meeting, the board promoted existing officer Cezar Augusto Janikian to the role of Vice-President Executive Officer, with all appointments recommended by the bank’s Nomination and Governance Committee and subject to formal authorization from the Central Bank of Brazil, underscoring ongoing adjustments to the bank’s leadership structure and regulatory compliance in its executive management. The minutes were executed in São Paulo and later furnished to the U.S. Securities and Exchange Commission via Form 6-K dated January 6, 2026, reflecting the bank’s continued adherence to disclosure obligations for foreign private issuers in the U.S. capital markets.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On January 2, 2026, the board of directors of Banco Santander (Brasil) S.A. met by conference call and unanimously approved the dismissal of two officers without specific designation, Sandro Kohler Marcondes and Marilize Ferrazza, formalizing their exoneration from their roles at the bank. The move reflects a targeted adjustment in the bank’s management structure at the officer level, but the minutes provide no indication of broader strategic shifts or operational changes arising from these personnel decisions, suggesting limited direct impact on day-to-day operations or the bank’s overall strategic positioning.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On December 22, 2025, Banco Santander (Brasil) S.A.’s board of directors approved the executive board’s proposal, subject to ratification at the 2026 ordinary shareholders’ meeting, to distribute R$620 million in interest on equity for the 2025 financial year, corresponding to a net amount of R$527 million after withholding tax. The approved payment, which forms part of the bank’s mandatory dividend for 2025, will be based on the shareholder record at the close of trading on January 2, 2026, with the stock trading ex-interest from January 5, 2026 and cash disbursement starting February 5, 2026; holders of ADRs listed on the NYSE will receive the payment through BNY Mellon under local market rules, underlining the bank’s continued commitment to shareholder remuneration in both domestic and international markets.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On December 22, 2025, the board of directors of Banco Santander (Brasil) S.A. met by conference call in São Paulo and approved the executive board’s proposal to declare and pay R$620 million in interest on equity related to fiscal year 2025, equivalent to R$0.07910367789 per common share, R$0.08701404568 per preferred share and R$0.16611772357 per unit, resulting in a net amount of R$527 million after withholding tax, except for immune or exempt shareholders. Shareholders of record at the close of trading on January 2, 2026 will be entitled to this interest, the shares will trade ex‑interest from January 5, 2026, and payment is scheduled for February 5, 2026, with the distribution to be fully credited toward the bank’s mandatory 2025 dividend and structured to comply with tax legislation, underscoring the institution’s ongoing capital return policy to shareholders.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On December 22, 2025, Banco Santander Brasil announced a planned leadership transition in its finance and investor relations functions, with long-serving executive vice president and Investor Relations Officer Gustavo Alejo Viviani set to step down from his roles, including Chief Financial Officer, at the end of April 2026, subject to regulatory approvals for his successor. The bank will realign its organizational structure to mirror the Santander Group’s model in other markets by consolidating the accounting function under the Chief Financial Officer, and has nominated Carlos Muñiz González-Blanch, currently Global CFO of Santander Corporate & Investment Banking, as the new CFO and Investor Relations Officer, signaling a continuity-focused, globally aligned governance approach intended to preserve operational stability and strategic execution during and after the transition.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On December 12, 2025, the Board of Directors of Banco Santander Brasil S.A. held a meeting to reappoint Adriana Cristina Papafilipakis Grazian as the company’s Ombudsman for another year. This decision, unanimously approved by the board, reflects the company’s commitment to maintaining consistent leadership in its governance structure, as recommended by the Nomination and Governance Committee.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On December 15, 2025, Banco Santander Brasil’s Board of Directors convened via videoconference to approve a Management Proposal for an Extraordinary General Meeting scheduled for January 15, 2026. The meeting aims to address the composition of the Board of Directors, including fixing the number of members and electing a new board member, which could impact the company’s governance and strategic direction.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
Banco Santander Brasil has announced an Extraordinary General Meeting (EGM) scheduled for January 15, 2026, to address key governance matters. The agenda includes fixing the number of board members, electing a new board member, and confirming the board’s composition. This meeting underscores the company’s commitment to robust governance practices, encouraging shareholder participation through various channels, including remote voting, to ensure inclusive decision-making.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
Banco Santander Brasil has announced an Extraordinary General Meeting (EGM) scheduled for January 15, 2026, to address key matters regarding its Board of Directors. The agenda includes fixing the number of board members, electing a new board member, and confirming the board’s composition. This meeting reflects the company’s ongoing commitment to effective governance and stakeholder engagement, potentially impacting its strategic direction and operational oversight.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
Banco Santander Brasil has announced an Extraordinary General Meeting (EGM) scheduled for January 15, 2026. The meeting will address the composition of the company’s Board of Directors, including fixing the number of members and electing a new member. This EGM is significant as it allows shareholders to engage closely with the company’s management and participate in decision-making processes, ensuring transparency and security in the transmission of information.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.
On December 4, 2025, Banco Santander Brasil announced the issuance of financial bills amounting to BRL 2.3628 billion. These financial bills, which include a subordination clause, are intended to enhance the company’s Tier II Reference Equity, with a maturity term of ten years and a repurchase option starting in 2030. This strategic move is expected to impact the company’s Tier II capitalization ratio, aligning with BCB Resolution No. 122.
The most recent analyst rating on (BSBR) stock is a Hold with a $7.00 price target. To see the full list of analyst forecasts on Banco Santander Brasil stock, see the BSBR Stock Forecast page.