Santander Flags Strong First Quarter, Sticks to Targets
By Elena Vardon
Banco Santander said it has had a strong start to the year, with growth in customers and revenue, and backed its targets despite increasing global economic uncertainty.
The Spanish bank has seen a continuation of the positive trends seen in previous years over the first quarter, with performance supporting its full-year and midterm targets, Chair Ana Botin said ahead of its annual general meeting Friday.
"The world now faces the scenario of higher inflation and lower growth, threats that become more likely with each passing day. Their severity will depend on the duration of the conflict [in the Persian Gulf] and its impact on global energy supply," Botin said. Santander's geographic diversification mitigates risk by reducing volatility, she said.
At the meeting, shareholders are set to vote to approve a dividend of 12.5 European cents (14.4 U.S. cents) a share on last year's earnings as well as a capital increase for its acquisition of Webster in the U.S.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
March 27, 2026 03:45 ET (07:45 GMT)
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