The president of Banco Santander, Ana Botín, stated this Tuesday that the Spanish financial institution will be until 2028, with the announced acquisition of Webster Bank in the United States, the fourth most profitable among the 25 largest in this country.
At a press conference following the announcement of the acquisition and early release of the group’s annual results, Botín declared that the acquisition of Webster Bank provides Santander with the necessary scale to be highly competitive in the North American market.
Together with the acquisition last year of the British bank TSB from Sabadell, it gives Santander sufficient scale in all its main markets, he said.
Banco Santander agreed to acquire the North American bank Webster Bank for 12.2 billion dollars (10.323 million euros), according to a statement to the Spanish National Securities Market Commission (CNMV).
The objective is to achieve a return on tangible capital (ROTE) of 18% in the United States by 2028, according to the same note, cited by Europa Press.
With this acquisition, Santander could position itself among the top ten retail banking institutions and companies in the United States in terms of assets and among the five largest deposit institutions in the main states in the northeast of the country.
This operation, which will be financed with excess capital and future capital generation, values Webster at 6.8 times its estimated profit for 2028, once cost synergies are taken into account, and at twice its tangible book value for the fourth quarter of 2025.
When asked about the choice to acquire Webster, Ana Botín indicated that there were several options, highlighting the complementarity of the acquired bank with Santander’s commercial banking business, in addition to the purchase opportunity.
Regarding the drop in Santander’s share price on Wall Street after the announcement of the acquisition of Webster, he stated that, once the transaction is understood, it will be very well received by the market.
Regarding the bank’s decision to carry out this type of transactions in the United States at a time of geopolitical uncertainty, Botín highlighted that it is the most attractive market in the world for financial services and that it has links with countries where Santander has significant business, such as Latin America and the United Kingdom, in addition to having a favorable regulatory environment.
Banco Santander recorded a record profit of 14,101 million euros in 2025, 12% more than in 2024, reaching 180 million customers for the first time.
In the fourth quarter, attributable profit reached 3,764 million euros, an increase of 15%, corresponding to the seventh consecutive quarter with record results.
In terms of total income, they remained at 62,390 million euros, with record commission income of 13,661 million, up 5%, and a financial margin that grew 3%.
Santander also announced a share buyback program worth 5 billion euros, which includes 1,800 million based on the results of the second half of 2025, and around 3,200 million from excess capital after the sale of 49% of Santander Poland.
In total, the bank reaffirms its commitment to distribute at least 10 billion euros in share buybacks in 2025 and 2026.
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