Santander (SAN) adds 17 million customers as TSB and Webster deals deliver
As seen on the 24/7 Wall St. homepage on October 28, 2026.
We once again delivered strong results in the first nine months, with earnings per share up 25% and growing momentum across the group. We added 17 million customers over the last twelve months, driven by strong commercial activity and the addition of TSB and Webster, while loans and customer funds both increased 16% year-on-year. Alongside this commercial growth, ONE Transformation continued to improve our operating model, supporting top-line growth and lower costs (excluding M&A), while AI…
The TSB and Webster deals are already paying off at Santander: 17 million customers added in twelve months, with loans and customer funds both up 16% year over year. Botín is also putting a euro figure on AI for the first time, crediting it with €194 million of business value in 2026.
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Ana Botín's third-quarter earnings statement for 2026 shows the two acquisitions pulling their weight quickly. The addition of TSB and Webster, combined with what Botín called strong commercial activity, drove the 17 million net new customers Santander accumulated over the last twelve months.
The balance sheet growth that came with that customer expansion is notable. Loans and customer funds both rose 16% year-on-year, a parallel move that suggests the new relationships are translating into actual business rather than just headline user counts.
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Earnings per share climbed 25% across the first nine months of 2026, giving investors a bottom-line confirmation that the top-line momentum is not being eaten up by integration costs. Botín specifically noted that the ONE Transformation program is lowering costs when M&A expenses are excluded, pointing to operating leverage building underneath the acquisition activity.
Perhaps the most closely watched new data point is the explicit valuation Santander placed on artificial intelligence. Botín credited AI with generating €194 million of business value during 2026, the first time the bank has attached a concrete euro figure to its AI efforts. That number gives analysts a baseline to measure against in future quarters.