Santander maintains plans for Brazil after elections and aims for 20% profitability by 2028

Santander does not intend to change its plans for Brazil after the presidential elections. In an interview with CNBC Internacional, the bank's global financial director, José García Cantera, stated that the result of the election does not change the institution's prospects or plans for the country, according to Times Brasil.

The same report informs that the Brazilian operation remains strategic for the group, despite the recent volatility in the markets. The speech has weight because it comes from the bank's financial area, responsible for monitoring results and the allocation of capital between operations.

The target for the Brazilian operation is profitability of around 20% by 2028. The chosen indicator is RoTE, the return on tangible assets, which leaves out intangible assets. In 2025, the operation's profitability was 15.3%, which shows the distance to be covered to the goal.

The ambition goes beyond Brazil. The Santander group targets a RoTE above 20% by 2028, which places the Brazilian target within a broader profitability objective for the bank.

What is at stake is the bank's ability to sustain Brazil's profitability amid market volatility, cited by the executive himself. The facts found do not provide details about the measures planned to reach the goal, so the reading will depend on the results that the bank publishes.

What changes for the investor

For those who invest in banks, the message is of continuity, without changing course after the election. The reference number is clear: the 15.3% profitability recorded in 2025 needs to increase to something close to 20% by 2028 for the target to be met. As a result, the next balance sheets tend to be read in light of this indicator. This article does not provide a purchase or sale recommendation or price projections.

Automatically translated from Portuguese.