Santander targets 20 billion euro profit boost by 2028

Santander (SAN.MC) aims to boost its profit to more than 20 billion euros by 2028, helped by growth in its US and UK markets, a rise in customer numbers and cost savings from its IT transformation, Spain’s number one bank said earlier this week.

Santander, which reported a record net profit of 14.1 billion euros for 2025, also lifted its profitability ratio target by almost four percentage points to above 20 per cent to reflect expected synergies from recent acquisitions of US bank Webster and Britain’s TSB.