Santander Has Received Authorization From ECB For Webster Purchase
WBS•ECB approval advances Santander's Webster purchase
July 22 (Reuters) - Chief Executive Officer of Banco Santander SA, Hector Grisi:
- Bank has received authorization from the ECB to progress with the purchase of Webster, and expects closing in the second half of 2026.
- The bank expects positive trends to continue in the second half of the year.
- It expects some improvement in cost of risk in Argentina in the second half.
- The bank is on track to deliver its €14.1 billion profit target ex-M&A for the year.
- The bank has signed an agreement with Spanish unions on an early retirement programme.
- It expects business performance in Brazil to improve over coming years and to meet profitability targets.
- The bank sticks to cost savings of around 400 million pounds from the TSB acquisition.
- It sees another €250 million restructuring charge related to British unit TSB over coming quarters.
- Mexico is an opportunity and could deploy capital in some business segments.
- Chief Financial Officer Jose Cantera sticks to low to mid-single digit net interest income growth in Spain in 2026.
- Cantera said the bank expects approval on the Danish compromise in August.
- Cantera said the bank remains optimistic for the outlook in the UK.
