Santander Brazil Q3 2026 slides: profit falls 28% as NII pressured

European shares fell 0.16% early Wednesday, with oil prices rising 2% and bank stocks diverging. Deutsche Bank shares rose 3.5% after reporting record quarterly profit, while Santander shares dropped 3.3% despite a 19% rise in underlying profit. The ECB's policy decision is expected Thursday.

Banco Santander, S.A. (SAN) furnished an SEC Form 6-K — earnings release. BANCO SANTANDER, S.A. ________________________ TABLE OF CONTENTS Item 1. Press Release regarding January - September 2026 Results Corporate Communications Ciudad Grupo Santander, edificio Arrecife, planta 2 28660 Boadilla del Monte (Madrid) comunicacion@gruposantander.com www.san

Banco Santander reported a 16% increase in underlying profit to €11.176 billion for the first nine months of 2026, with attributable profit up 20% to €12.405 billion. Revenue grew 8% to €46.8 billion, driven by higher customer activity and acquisitions. Costs fell 1% excluding M&A, improving the efficiency ratio to 42.6%.

Santander UK reported a 6% drop in pre-tax profit to £1.2bn for the first nine months of the year, citing restructuring costs and motor finance provisions. The decline occurred despite a 17% rise in net interest income to £3.9bn, driven by the TSB acquisition. The bank plans further cost cuts in 2026. The wider group's Q3 profit fell 2.4% to €3.4bn, impacted by M&A impairments. Santander completed its $12.2bn acquisition of Webster Financial in August.

Santander reported a 19% rise in Q3 underlying net profit to €3.85B, beating forecasts, driven by strong performance in Spain and acquisitions in the US and UK. However, reported net profit fell 2% to €3.43B due to impairment charges. Brazil's weaker earnings and currency depreciation impacted results, with shares falling 3% yesterday. The bank expects acquisitions to boost profits by over 40% in the next three years.

Banco Santander reported Q3 attributable profit of €3.43B, down 2% YoY, but underlying profit rose 19% to €3.8B. Nine-month underlying profit hit a record €11.18B, up 16%. The bank added 17M customers and reiterated 2026 targets, including profit above €14.1B and a CET1 ratio of 12.8%-13%. Shares closed at €11.27 on Bolsa de Madrid.