Banco Santander reported a record underlying profit of €7.3 billion for the first half of 2026, a 15% increase driven by digital transformation and AI initiatives that raised RoTE to 15.6%. Following these results, Morgan Stanley raised its price target for the bank to €13.80. Additionally, State Street signed an agreement to acquire the Santander CACEIS Latam Securities Services joint venture to expand its presence in Brazil, Mexico, and Colombia. The transaction, expected to close in 2027, will add approximately $470 billion in assets under custody and $225 billion in assets under administration.
The Federal Reserve has cleared Banco Santander's $12 billion purchase of Webster Bank, with the deal scheduled to close on August 20, 2026.
Read the full storyState Street expands in Latin America by acquiring a joint venture, adding $470 billion in assets under custody.
The Spanish bank's H1 2026 report reveals a combination of operational strengths and weaknesses across its financial metrics.
The Spanish bank saw a 15% profit surge driven by digital transformation and the TSB acquisition, despite recent share price pressure.