Banco Santander, the Spain-based global banking group, has unveiled a new strategic plan targeting more than €20 billion in annual profit by 2028, following its Webster deal and broader expansion efforts across key markets.
The updated financial targets were presented during the bank’s Investor Day in London, where Santander outlined its three-year strategic roadmap for 2026 through 2028. The plan calls for sustained revenue growth, improved efficiency, and disciplined capital allocation as the bank integrates recent acquisitions and strengthens its position in Europe and the Americas.
Santander is aiming to grow its customer base to more than 210 million globally by 2028. As part of the plan, the bank is targeting a return on tangible equity above 20% by 2028, alongside double-digit annual growth in earnings per share. Management also set an efficiency ratio target of approximately 36%, reflecting ongoing cost optimization initiatives and scale benefits.
The bank’s capital return framework is also evolving under the new strategy. Santander expects to increase its cash dividend payout to around 35% of group profit beginning with 2027 results, while maintaining total shareholder remuneration of approximately 50% of group profit through a combination of dividends and share buybacks. The bank also intends to more than double its cash dividend per share compared with 2025 levels by the end of the plan period.
The Webster transaction is part of Santander’s broader push to reinforce its presence in core markets and drive higher profitability. By combining organic growth with selective acquisitions, the bank is positioning itself to deliver stronger returns while maintaining capital discipline and operational efficiency.
With the new targets, Santander is signaling confidence in its diversified business model and its ability to scale earnings across retail, commercial, and digital banking operations over the next several years.
