Santander Projects Strong Q1 Growth, Reaffirms 2025 Targets

Banco Santander has projected strong growth for the first quarter of 2025, with a return on tangible equity (RoTE) anticipated to rise to approximately 15.7% and a common equity tier 1 (CET1) ratio of 12.9%. During its annual general meeting, the bank reaffirmed its revenue target of €62 billion and a RoTE goal of 16.5% for the year, despite ongoing global economic uncertainties and recent geopolitical tensions. Executive Chair Ana Botín highlighted the bank's diversification strategy and efficiency gains as stabilizing factors while emphasizing the importance of strong customer growth in maintaining profitability. The bank's performance is buoyed by a robust U.S. consumer unit and a favorable labor market in Spain, where GDP growth is expected to outpace the European average. Additionally, Santander announced plans for a 19% increase in dividends and two share buyback programs totaling €3.1 billion. Overall, Santander remains focused on enhancing customer experience and profitability through its 'ONE Transformation' plan.