Santander Guidance Confirmation is Positive Amid Brazil Weakness

Dow Jones07-22 17:32

0932 GMT - Banco Santander's confirmation that it is on track to meet its 2026 guidance is the main positive in its second-quarter results, in light of a slower-than-expected earnings improvement in Brazil, UBS's Ignacio Cerezo and Alvaro Fernandez-Garayzabal say. The results were in line with expectations overall, with the group's Spain and U.S. units showing positive underlying trends, the analysts say in a research note. Santander's Brazil business saved the day thanks to lower taxes, but pretax profit was weaker than anticipated and asset quality there worsened as well, they add. Still, the guidance confirmation should be enough to stabilize Santander's shares after their recent underperformance, UBS says. Shares rise 2.1%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 22, 2026 05:32 ET (09:32 GMT)

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Santander's Brazil business saved the day thanks to lower taxes, but pretax profit was weaker than anticipated and asset quality there worsened as well, they add. Still, the guidance confirmation should be enough to stabilize Santander's shares after their recent underperformance, UBS says. Shares rise 2.1%. 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