Banco Santander SEC Filings

Banco Santander provides an update on its share buyback programme. As of 4 March 2026, the bank has spent 1,816,349,835 Euros repurchasing its own shares, which is about 36.1% of the programme’s approved maximum investment.

These repurchases correspond to approximately 16.3% of Banco Santander’s outstanding shares as of 2021, indicating a sizable reduction in its share count over time. Between 27 February and 4 March 2026, the bank bought a total of 24,084,830 shares in multiple transactions on Spanish and European trading venues at weighted average prices around 9.6–10.9 Euros per share.

Banco Santander, S.A. filed an amended Form 13F disclosing holdings reported originally on Form 13F filed 08-01-2025 with confidential treatment that expired on 03-04-2026. The amendment adds new holdings entries and the report lists 1 information table entry with a total value of $1,103,613.

Banco Santander, S.A. uses this Form 20-F to present its 2025 annual report, combining financial, governance and sustainability disclosures for the Group. The bank reports record results for the fourth consecutive year, with FY 2025 attributable profit of €14.1bn, supported by revenue of €62.4bn and a cost efficiency ratio of 41.2%.

Return on tangible equity reached 16.3% post-AT1 (17.1% pre-AT1), while the fully loaded CET1 capital ratio improved to 13.5%, above the stated 12–13% operating range. The Group added 8 million total customers to reach 180 million, with 106 million active customers, reflecting its digital bank-with-branches model.

The filing highlights a strong sustainability and climate agenda. Since 2019, Santander has raised or facilitated €174bn in green finance and achieved €129.9bn in socially responsible investment assets under management. It has met its targets of 100% renewable electricity in core markets and green finance and SRI milestones ahead of schedule, while outlining a climate transition plan and double materiality framework aligned with CSRD and ESRS.

Banco Santander presents its 2025 Pillar 3 disclosures showing another record year, with attributable profit of €14.1 bn, up 12%, and revenue of €62.4 bn. Return on tangible equity reached 16.3%, while the efficiency ratio improved to 41.2%.

The Common Equity Tier 1 ratio rose to an all-time high of 13.46% (CET1 capital €84.7 bn) on risk‑weighted assets of €629.4 bn. Liquidity remained strong, with a leverage ratio of 4.9%, liquidity coverage ratio of 147% and net stable funding ratio of 126%.

After year-end, Santander completed the sale of 49% of Santander Bank Polska and 50% of its Polish asset manager for about €7,000 m, generating an expected capital gain of roughly €1,900 m in 2026. It also agreed to acquire Webster Financial Corporation for approximately $12,200 m in cash and shares, with closing targeted for the second half of 2026, subject to shareholder and regulatory approvals.

Banco Santander, S.A. has called its 2026 ordinary general shareholders’ meeting to be held exclusively by remote means, expected on second call on 27 March 2026 at 12:30 p.m. CET. Shareholders must hold shares registered in their name by 22 March 2026 to participate.

The agenda covers approval of 2025 financial statements and non‑financial reporting, corporate management, shareholder remuneration and several capital measures. Proposals include two share capital reductions of up to €663,227,913 and €734,465,975 via cancellation of up to 1,326,455,826 and 1,468,931,950 own shares, respectively.

Further items seek authorization to increase share capital up to a nominal €3,672,329,875.50, to issue convertible securities up to €10,000 million, and to execute a capital increase of €167,404,608 by issuing 334,809,216 new shares in exchange for common shares of Webster Financial Corporation. The meeting will also vote on auditor matters, director appointments and re‑elections, and director and employee remuneration policies, all supported by detailed documentation available on the company’s website.

Banco Santander, S.A. outlines a 2026–2028 strategic plan focused on profitable growth, capital strength and higher shareholder payouts. The group is targeting a return on tangible equity above 20% by 2028, with profit of more than €20 billion and a Common Equity Tier 1 ratio of about 13% within a 12–13% operating range.

The plan calls for double‑digit annual EPS growth from 2026 to 2028, low‑ to mid‑single‑digit revenue growth, and cost reductions each year, helped by its ONE Transformation program. Santander expects net interest income to grow at low‑ to mid‑single‑digit rates, supported by active balance sheet, ALCO and hedging management, and a loan book mix shift toward lower‑risk segments.

Shareholder remuneration is planned at about 50% of underlying profit for 2026–2028, with an increased cash dividend payout of around 35% from 2027 and roughly 15% in share buybacks, plus the return of any excess capital above 13% at the end of the period, all subject to future corporate and regulatory approvals. Operationally, Santander aims to grow total customers to over 210 million by 2028, lift fee income at high single‑digit rates and keep group cost of risk around 1–1.10% on average, while integrating the pending TSB and Webster transactions.

Banco Santander, S.A. used this 6‑K to share its Group CEO’s Investor Day strategy and financial targets for 2026–2028, emphasizing its “ONE Transformation” model and network businesses. The bank is aiming for a RoTE above 20% and profit over <money>€20bn</money> by 2028, supported by mid‑single‑digit revenue growth and yearly cost reductions in constant euros. Management highlights an operating CET1 ratio range of 12–13%, with capital above 13% intended to be returned at the end of the plan, subject to corporate and regulatory decisions.

The board intends to apply an ordinary shareholder remuneration policy allocating roughly 125 million active customers and more than 210 million total customers by 2028, with cost per active customer reduced from <money>€264</money> in 2025 to about <money>€220</money> in constant euros.

Banco Santander uses this investor presentation to lay out 2026–2028 strategic and financial targets, supported by its ONE Transformation program and planned bolt-on deals TSB and Webster, both still subject to customary approvals.

The group aims for underlying profit of more than €20bn and RoTE above 20% by 2028, while keeping its CET1 ratio in a 12–13% operating range and returning any capital above 13% at the end of the plan. Management targets mid-single-digit revenue growth with total costs falling each year in constant euros, helped by €4–5bn of transformation efficiencies and cost synergies, including more than £400mn from TSB and about $800mn from Webster at full run rate.

The bank plans to cut its efficiency ratio from 45.3% in 2025 to about 36% in 2028 and to grow customers from 180mn to more than 210mn, with active customers rising to about 125mn. The board intends to apply a shareholder remuneration policy of around 50% payout of underlying profit for 2026–2028, split between cash dividends and share buybacks, with approximately 35% in cash dividends and 15% in buybacks from 2027 results.