Banco Santander, S.A. (BNC) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Santander's third quarter 2025 results presentation. For the call today, we will be joined by Hector Crusi, our group CEO, and Jose Garcia Cantera, our CFO. Hector, over to you. Thanks, Rahul. Good morning, everyone, and thank you for joining Santander results presentation. We will follow the usual structure. First, I will go over our results with a special focus on the performance of our global businesses. Then, Jose, our CFO, will then provide a detailed view of the financials, and then I will wrap up with some final remarks before we open for Q&A. Before we begin, a quick note that all figures in the presentation continue to include Poland until the disposal is completed. Q3 was another record quarter, reflecting the strength of our strategy and the resilience of our business model in a more demanding environment. Our quarterly profit hit a new record at $3.5 billion, making 9 months 25 the best 9-month period ever, driven by strong revenue growth across the global businesses and our solid customer base, which increased by $7 million year-on-year to $178 million as we enhanced customer experience by leveraging our global platforms. We achieved this while we continued to invest for the future through one transformation, making excellent progress towards a simpler and more integrated model. This has enabled further efficiency gains and a 70 basis points increase to our ROTE to 16.1. Our balance sheet remains also solid, with a strong capital ratio, which ended the quarter with an all-time high of 13.1% and a robust credit quality. All of this drove strong shareholder value creation with enough plus cash dividend per share growing 15% despite some currency headwinds. We are approaching the end of our 2023-2025 strategic plan well on track ...