Santander Confirms Guidance After First-Quarter Growth
Santander said it expects to report growth for the first quarter of 2025 and confirmed its guidance for the year.
The Spanish bank should deliver a return on tangible equity of around 15.7% for the first three months and is on track to reach its 16.5% target for the year, it said in a statement ahead of its annual general meeting on Friday. This compares with 15.5% RoTE for 2024, according to a spokesperson.
The lender's common equity Tier 1 ratio–a key measure of capital strength–should come in at 12.9% for the period, a touch under its 13% view for the year, it added.
'We maintained the positive trend seen in previous years by growing customers, with revenues expected to remain flattish and costs to decrease in current euros compared to the same period last year,' Chair Ana Botin said.
Santander targets around 62 billion euros ($68.54 billion) in revenue for 2025 with a fall in costs and stable cost of risk.
The bank's markets remain resilient, Botin said, referring to this week's U.S. tariff announcements and escalating trade tensions. 'The employment data–which is the cornerstone of asset quality–is very good,' she said.
Write to Elena Vardon at elena.vardon@wsj.com
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