Banco Santander (GB:BNC)
LSE:BNC
Want to see GB:BNC full AI Analyst Report?
Earnings Data
Report Date
Apr 29, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.23Last Year’s EPS
0.18Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong set of 2025 operating and financial results (record profit, customer growth, improved RoTE, higher CET1 and robust fee and NII growth) and a decisive strategic step via the Webster bolt-on to accelerate U.S. scale and profitability. Management outlined clear synergy targets, accretion and capital plans while reiterating shareholder return commitments. The main negatives are the near-term capital hit (~140 bps CET1), dilution from share issuance, notable one-off restructuring costs, and integration/execution risks tied to aggressive EUR 800m synergy targets and concurrent program delays. On balance, the positives—sustained organic momentum, strengthened capital ratios, clear targets for U.S. RoTE (18% by 2028), and material shareholder returns—outweigh the risks disclosed, though successful delivery of integration and capital targets is critical.Company Guidance
Record Annual Profit and Customer Growth
Reported best-ever annual profit of EUR 14.1 billion in 2025; customer base increased by 8 million to 100 million customers.
Strong Profit and EPS Momentum
Group profits up 12% year-on-year (15% ex Argentina); earnings per share rose 17% supported by profit generation and buybacks.
Top-Line Growth and Fee Momentum
Revenue grew 4% in constant euros; fee income increased 9% in constant euros, driven by network effects across global businesses (CIB, Wealth, Payments).
Improved Profitability and Efficiency
Post-AT1 RoTE reached 16.3% (up nearly 1 percentage point year-on-year); record net operating income of ~EUR 37 billion; group fully-loaded CET1 rose to 13.5% (+70 bps year-on-year).
Cost Control and Operating Leverage
Expenses declined 1% in absolute terms despite growth; positive operating leverage from transformation initiatives with 265 bps efficiencies from One Transformation, 108 bps from global businesses and 87 bps from global tech capabilities.
Strong Retail / Consumer Performance
Retail profit up 9% year-on-year with cost-to-income ratio at c.39%; consumer profit up 8% year-on-year; consumer NII up 5% year-on-year.
Wealth, CIB and Payments Outperformance
Wealth profit increased 27% in 2025; CIB delivered record revenue with high-single-digit fee growth; payments volume up 9% and PagoNxt EBITDA margin closed above 34%.
Capital Allocation and Shareholder Returns
TNAV plus cash dividend per share grew 14%; committed to at least EUR 10 billion share buybacks for 2025-26 (new EUR 5 billion program approved); maintaining a 50% ordinary payout guideline.
Openbank and Digital Progress
Openbank scale: ~EUR 5 billion deposits and over 200,000 customers; strategic consolidation of Santander Consumer Finance and Open Banking Europe under Openbank to simplify structure and scale digital distribution.
Strategic Webster Acquisition (Key Commercial Benefits)
Announced acquisition of Webster: headline consideration EUR 12.2 billion (EUR 10.3 billion in euros disclosed later); expected pretax cost synergies of ~EUR 800 million (~19% of combined cost base); 65% cash / 35% shares; combined U.S. RoTE expected to reach 18% by 2028 and deliver 7–8% EPS accretion in 2028; expected ROIC ~15%.
Webster Integration Advantages
Transaction to improve U.S. deposit share to ~8% in Northeast footprint, reduce combined cost of deposits by ~40 bps (2.7% -> 2.4%), bring loan-to-deposit ratio to ~100% and target combined efficiency ratio below 40% by 2028.
GB:BNC Earnings History
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
GB:BNC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 03, 2026 | 945.00 p | 962.00 p | +1.80% |
Oct 29, 2025 | 743.25 p | 785.81 p | +5.73% |
Jul 30, 2025 | 663.09 p | 653.19 p | -1.49% |
Apr 30, 2025 | 533.44 p | 517.60 p | -2.97% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Banco Santander (GB:BNC) report earnings?
Banco Santander (GB:BNC) is schdueled to report earning on Apr 29, 2026, TBA (Confirmed).
What is Banco Santander (GB:BNC) earnings time?
Banco Santander (GB:BNC) earnings time is at Apr 29, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Banco Santander stock?
The P/E ratio of Banco Santander is N/A.
What is GB:BNC EPS forecast?
GB:BNC EPS forecast for the fiscal quarter 2026 (Q1) is 0.23.