A woman with a surprised expression in front of a Santander bank branch. — Banco Santander is celebrating after unveiling its 2024 profits | Banco Santander, Dean Drobot

Camara — Banco Santander is celebrating after unveiling its 2024 profits | Banco Santander, Dean Drobot

Absolute euphoria at Banco Santander: its clients hadn't seen anything like it

Banco Santander achieves a historic record that millions of customers and shareholders applaud wildly

06/02/2025 10:31:00h

Miguel Cuartas Ortego

Banco Santander announced this Wednesday, February 5, 2025, a record profit of 12.574 billion euros in 2024. An amount that exceeds by 14% the 11.076 billion obtained in 2023. News that has caused absolute euphoria among the shareholders and clients of the bank led by Ana Patricia Botín.

This achievement keeps Banco Santander as one of the most robust banks in the world. The truth is that this fact has boosted the bank's shares on the stock market, registering an 8% increase.

Banco Santander celebrates the 2024 record: more profits than ever

This growth is due to the increase in the interest margin and commissions, which each rose by 8%. Additionally, the gross margin grew by 12%, while operating costs only increased by 2%. The return on tangible equity (ROTE) reached 16.3%, and efficiency improved to 41.8%, the best figure in 15 years.

Banco Santander has brought a smile to its customers and shareholders | Getty Images, Banco Santander

Looking ahead, Banco Santander has ambitious plans for 2025 and 2026. The entity plans to distribute 10 billion euros among its shareholders during these two years, combining dividends and a share buyback program. This buyback program will amount to 25% of the earnings, approximately 1.587 billion euros, and will be added to the planned complementary payment.

These results exceed the expectations created, analysts indicate

The market has reacted positively to these results and plans. Banco Santander's shares soared more than 8% at the start of the session, reaching their highest level since 2018.

A woman with a surprised expression and her hands on her cheeks, dressed in red, stands inside a Santander bank office.

Banco Santander is stronger than ever | Billion Photos, Google Maps, Banco Santander

Analysts like Jefferies highlight that these results exceed expectations, especially in Spain, Mexico, and Brazil. They also positively value the proposed objectives for 2025 and the share buyback plans.

Overall, Banco Santander has achieved a record profit of 12.574 billion euros in 2024, 14% more than in 2023. In these next two years, it plans to distribute 10 billion euros among its shareholders and has launched a share buyback program. This news has caused a very positive reaction in the market, reflected in the rise of its shares.

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