Santander Posts Lower Net Profit on Effects of TSB, Poland Deals
By Adria Calatayud
Banco Santander said its second-quarter net profit fell from the prior quarter due to nonrecurring gains and charges arising from its recent deals in the U.K. and Poland.
Net profit for the second quarter was 3.52 billion euros ($4.01 billion), down 36% compared with the prior quarter, the Spanish bank said Wednesday. Analysts polled by Visible Alpha had forecast a profit of 3.53 billion euros.
The bank attributed the decline to restructuring charges recorded in the second quarter linked to its recently closed acquisition of U.K. lender TSB, and to a gain on the sale of a big stake in its Polish unit booked in the previous quarter. Excluding those, underlying profit was up 6% on quarter at 3.77 billion euros, it said.
Santander, the eurozone's biggest bank by market capitalization, has moved to reshape its portfolio through dealmaking. It also agreed to buy Webster Financial in the U.S. in a $12.3 billion deal.
Total income, the bank's top-line figure, rose 3.6% from the prior quarter to 15.68 billion euros. Analysts had expected 15.70 billion euros, according to the same consensus.
The bank said it is on track to meet its 2026 targets, which exclude the effects of recent deals.
Write to Adria Calatayud at adria.calatayud@wsj.com
Corrections & Amplifications
This article was corrected at 0549 GMT to reflect Banco Santander's targets for 2026 exclude the effects of recent deals. The original version incorrectly said Santander's targets for 2026 include the effects of recent deals in the last paragraph.
(END) Dow Jones Newswires
July 22, 2026 01:43 ET (05:43 GMT)
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