BCDRF · Banco Santander, S.A.

Banco Santander reported strong first-quarter 2026 results, with net profit attributable to the parent surging 60% to €5,455 million from €3,402 million in the same period last year. The improvement was driven by a 3.8% increase in total income to €15,140 million, supported by higher net interest income (€11,019 million vs. €10,621 million) and commission income (€4,543 million vs. €4,317 million). Operating profit before tax rose 7.3% to €5,029 million. However, impairment losses on financial assets increased to €3,198 million from €3,077 million, reflecting higher provisioning costs. A notable contributor was profit from discontinued operations, which jumped to €1,895 million from €376 million, likely related to the sale of non-core assets. Basic earnings per share improved to €0.36 from €0.21. The balance sheet remained solid with total assets of €1.86 trillion and equity of €112.5 billion. The results underscore Santander's ability to grow revenue while managing credit costs, though the elevated impairment charge warrants monitoring.