Santander Reports Record Q4 Profits, Plans €10 Billion Buyback

Banco Santander has reported a significant increase in net profit, with a 75% jump in its fourth-quarter earnings to 3.85 billion reais ($668.62 million), exceeding market expectations. The positive results were driven by improved financial spreads and increased fees, alongside a 16% rise in net interest income. Santander also announced plans for 10 billion euros ($10.42 billion) in share buybacks over the next two years, reflecting strong overall performance across its global markets. For the full year, the bank achieved a 14% increase in net profit to 12.6 billion euros, with an overall income rise of 8%. Chief Executive Ana Botín emphasized the bank's ability to outperform peers in a challenging market and projected continued profitability growth in 2025. The bank's shares saw a substantial increase following the announcement, highlighting investor confidence in its strategic direction.