Banco Santander (SAN) FY25 earnings call

Banco Santander delivered record full-year 2025 results, driven by strong customer growth, improved efficiency, and robust capital generation. The company announced the strategic acquisition of Webster Financial Corporation, a bolt-on transaction expected to significantly enhance U.S. profitability and efficiency, accelerating the group's transformation and hard currency earnings mix. Management reiterated its commitment to substantial shareholder returns while maintaining strong capital levels.