Business · Companies · 1 hr ago
Santander forecast to lead European bank profit growth through 2028
UBS expects Santander to lead European banks in profit growth between 2026 and 2028.
The Spanish bank’s earnings per share are forecast to rise 48%, from 0.94 euros this year to 1.39 euros in 2028.
The estimate is more than double the projected average growth for major European banks, which UBS puts above 20%.
Santander’s strategy focuses on profitability and global platforms, and Deutsche Bank says its steady returns support that approach.
Webster and TSB are expected to add to results, strengthening Santander’s presence in the United States and the United Kingdom.
Banks across Europe are also expected to benefit from higher interest rates, low loan defaults and strong demand for financing.
These are forecasts, and the sources give no specific next step beyond Santander continuing to implement its strategy.
UBS and Deutsche Bank forecast that Santander will lead earnings-per-share growth among major European banks from 2026 to 2028.
UBS estimates Santander’s earnings per share will rise 48% over that period, from €0.94 at the end of 2026 to €1.39 in 2028.
The forecast attributes potential growth to Santander’s strategic transformation and its planned acquisitions of Webster and TSB.
European banks are expected to benefit from higher interest rates, low loan defaults and strong financing needs through at least 2028.
- Who
- Santander, with UBS and Deutsche Bank making the forecasts.
- What
- UBS and Deutsche Bank expect Santander to lead European banks in earnings-per-share growth through 2028.
- When
- The forecast period is 2026 to 2028. The article was published on October 14, 2026.
- Where
- Europe; the planned acquisitions of Webster and TSB would expand Santander’s presence in the United States and the United Kingdom.
- Why
- Analysts cite Santander’s transformation, the acquisitions and favorable conditions for European banking, including higher interest rates and low loan defaults.
This story does not have two clearly opposing sides.
UBS estimates Santander will earn €0.94 per share by the end of the year.
UBS forecasts Santander’s earnings per share will increase by 48% over the period.
UBS estimates Santander will earn €1.39 per share, with Barclays forecast to be the closest challenger at 45% growth.
- Santander EPS growth forecast
- 48% from 2026 to 2028
- Santander earnings per share
- €0.94 at the end of 2026; €1.39 in 2028
- European bank average EPS growth
- More than 20% from 2026 to 2028, according to UBS
- Barclays forecast
- 45% EPS growth from 2026 to 2028
- Planned acquisitions
- Webster in the United States and TSB in the United Kingdom
What people are saying
Santander’s consistent profitability [...] confirms the success of its strategic transformation.
Together with the positive effects of mergers and acquisitions, it should allow the bank to remain among the European banks with the best prospects for earnings-per-share growth in the future, supported by the successful implementation of its current transformation strategy, especially in cost control and fee generation.
Earnings momentum remains solid, and earnings expectations could even rise in an ideal environment of resilient growth and more persistent inflation that drives interest rates higher than most forecasts currently suggest.