Banco Santander, S.A. (BNC) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:06.699 Good morning, everyone, and thank you for this Q1 2026 results presentation. 00:00:06.699 -- 00:00:09.863 Today's presentation will follow the usual structure. 00:00:09.863 -- 00:00:14.108 First, Hector will talk about our results with a special focus on the performance of 00:00:14.108 -- 00:00:18.373 our global businesses in the context of our new strategic cycle. 00:00:18.373 -- 00:00:23.859 Then, Jose will give a deep dive on our financials, and then Hector will close the presentation 00:00:23.859 -- 00:00:27.419 with his final remarks before opening up for Q&A. 00:00:27.419 -- 00:00:31.464 Before we start, let me remind you that this is the first quarter that we are presenting 00:00:31.464 -- 00:00:36.550 our results after the disposal of Santander Polska and using the new 00:00:36.550 -- 00:00:39.794 group reporting structure we announced in February. 00:00:39.794 -- 00:00:45.100 As a result, all underlying metrics exclude impacts from Poland, both in 2025 00:00:45.100 -- 00:00:47.083 and 2026, 00:00:47.083 -- 00:00:52.867 to make the accounts comparable. Now, Hector, the floor is yours. 00:00:52.951 -- 00:00:58.337 Thanks, Raúl, and good morning, everyone. Q1 was another excellent quarter for Santander, 00:00:58.337 -- 00:01:03.724 demonstrating the strength of our strategy and the resilience of our business model. 00:01:03.724 -- 00:01:08.209 Profit reached a new record of 3.6 billion, 00:01:08.209 -- 00:01:13.736 up 12% versus Q1 2025, supported by all of our global businesses, 00:01:13.736 -- 00:01:18.862 even after a 210 million modern finance provision in the 00:01:18.862 -- 00:01:24.034 U.K. on the back of our solid franchise with a growing customer base as we continue 00:01:24.034 -- 00:01:28.901 to enhance customer ex...