Santander Brasil publishes Q3 2026 earnings call transcript
BSBR•Santander Brasil reported recurring net profit of R$ 2.9 billion and return on equity of 11.9% for the third quarter of 2026, below management’s targeted profitability.
1. Profit and provisions
Santander Brasil’s third-quarter 2026 earnings call featured CEO Gilson Finkelsztain, CFO Carlos Muñiz and Camila Stolf. Wholesale banking cases triggered approximately R$ 500 million in provisions, while underlying provision expenses were stable excluding one-off effects in both quarters.
2. Outlook and spreads
Management expects the ALCO portfolio’s loss to narrow significantly in 2027, saying hedging has locked in the negative result. Customer spreads compressed 33 basis points, and management expects further near-term pressure as lending shifts toward higher-income customers and secured loans.
