Santander's geographic diversification across Brazil, Mexico, Spain, UK, US, and Poland provides earnings stability that Spain-only peers lack. LatAm operations benefit from EM rate normalization tailwinds. Openbank digital franchise scaling profitably. Capital return discipline restored under Botin. Trades at deep discount to UK and Italian peers despite better returns.
Thesis reviewed May 29, 2026
Banco Santander SA is headquartered in Spain, which is currently showing moderate signals.
🇪🇸Spain64NEUTRALView Spain risk detail →🏦Financials100NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| MELI | MercadoLibre | 90 | -14% | ↓99% | AVOID |
| VIV | Telefonica Brasil (Vivo) | 90 | +8% | ↓99% | ENTRY |
| UBS | UBS Group AG | 90 | +17% | ↓99% | ENTRY |
| CIB | Bancolombia S.A. | 90 | +9% | ↓99% | NEUTRAL |
| DB | Deutsche Bank AG | 90 | -13% | ↓99% | AVOID |
| SAN | Banco Santander SA | 90 | +16% | ↓99% | ENTRY |
| KB | KB Financial Group Inc. | 90 | +17% | ↓99% | ENTRY |
Investors who hold SAN may also have indirect exposure through these country funds.
Santander Brazil delivers 18% ROE on credit normalization
Mexico delivers double-digit loan growth as nearshoring boosts demand
Santander announces EUR 3B buyback program
Estimates · Yahoo Finance · Not audited figures
| Politician | Party | Type | Amount | Trade Date | Return |
|---|---|---|---|---|---|
| Gilbert CisnerosCA | D | Buy | $1k–$15k | Feb 3, 26 | +6.5% |