Santander targets over 20 billion euros profit by 2028, tweaks dividend policy

Core Insights - Santander aims to achieve a profit exceeding 20 billion euros ($23.61 billion) by 2028, driven by a profitability ratio increase to above 20% through synergies from recent acquisitions in the U.S. and Britain [1][1][1] Financial Targets - The bank's strategic plan includes a target cost-to-income ratio of around 36% by the end of 2028, down from 41.2% in 2025, and from 45.3% when accounting for additional costs like banking tax [1][1] - Santander plans to operate with a core tier-1 capital ratio of approximately 13% by 2028 [1] Dividend Policy - The current remuneration policy includes a 50% payout ratio, distributed equally in cash and shares. From 2027, the cash proportion will increase to 35%, with around 15% in shares [1][1] Strategic Goals - The bank aims to serve over 210 million customers across Europe and the Americas, focusing on customer growth and disciplined execution of its global business model to drive higher revenues and lower costs [1][1][1]