Spanish financial services leader Banco Santander S.A. announced Wednesday stronger second-quarter earnings supported by rising underlying income.

Looking ahead, Santander confirmed it is positioned to achieve its 2026 targets. These include mid-single-digit revenue growth and reduced costs in constant euros, profit above the 14.1 billion euros posted in 2025, and a CET1 ratio in the 12.8 percent to 13 percent range.

The outlook excludes effects from any M&A activity during 2025 and 2026.

Revenue expansion should continue to benefit from customer activity, with net fee income increasing at a faster pace than net interest income.

Santander also repeated its three-year plan. By 2028 the group aims for RoTE above 20 percent, profit exceeding 20 billion euros, and more than 210 million customers.

Second-quarter profit attributable to the parent rose 3 percent year-over-year to 3.52 billion euros. Underlying profit attributable reached 3.77 billion euros, climbing 17 percent from the prior year.

Underlying profit before tax advanced 14 percent to 5.32 billion euros, while underlying net operating income grew 15 percent to 8.98 billion euros.

Total income for the quarter stood at 15.58 billion euros.

Total underlying income increased 9 percent on a reported basis and 6 percent at constant currency to 15.71 billion euros.

In the first half, profit attributable to the parent reached 8.97 billion euros, up 31 percent, and earnings per share rose 37.6 percent to 0.60.

The results included a 1.9 billion euro net capital gain from the January disposal of Santander Bank Polska, partly offset by 250 million euros in restructuring costs tied to TSB integration.

Banco Santander posted underlying profit of 7.33 billion euros for the first half of 2026, up 15 percent. Underlying earnings per share increased 20 percent.

Total revenue grew 6.4 percent to 30.85 billion euros, helped by solid net interest income and net fee income gains from higher customer numbers and greater volumes across global businesses.