Banco Santander SA (SAN) Company Overview

We have just put together a list of 10 companies that are seeing improved earnings and forecasts. In this article, we will examine how Banco Santander SA (NYSE:SAN) compares to other stocks. The stock market continued its positive trend on Wednesday, finishing higher as investors appeared to have anticipated the news.

Banco Santander attributed its record results in 2024 to the effectiveness of its technology platforms.

Banco Santander, S.A. (NYSE:SAN) held its Q4 2024 Earnings Conference Call on February 5, 2025, at 4:00 AM ET. Key participants included Raul Sinha, Ana Botín, Hector Grisi, and José García Cantera, along with various representatives from major financial institutions. The call began with Raul Sinha thanking everyone for attending the presentation of Santander's 2024 results.

Banco Santander announced a record profit for the fourth quarter and revealed plans for 10 billion euros ($10.4 billion) in share buybacks for 2025 and 2026, thanks to expected extra capital. The bank highlighted an increase in customer activity, strong management of profit margins, and growth in its operations, especially in its main retail sector.

Banco Santander's shares rose more than 6% on Wednesday after the bank announced a €10 billion (£8.3 billion) buyback plan following its record full-year profit. The bank's profit increased by 14% to €12,574 million in 2024, with revenue also up by 10% to €62.2 billion.

On Wednesday, the Polish branch of Santander Bank reported a 7% decrease in its initial net profit for the fourth quarter, affected by increasing expenses linked to foreign exchange mortgage loans. However, the results were better than what analysts had predicted.

On Wednesday, Spain's Santander announced that its net profit for the fourth quarter increased by 11% compared to the same time in 2023. This growth was driven by strong results in its retail operations in Europe, especially in Spain, as well as in Brazil.

Santander's American digital banking platform has reached over $2 billion in deposits just four months after it started. The Spanish bank stated in a news release on February 3 that this success is an important step in their strategy to increase deposits across the country, which will support their auto lending business and improve their retail banking services.

Santander, a major bank, has announced a new CEO for its U.S. operations as part of a bigger reorganization. Christiana Riley will take over from Tim Wennes, according to Executive Chair Ana Botin's announcement on Friday (January 31), as reported by Reuters.