Santander profits 8.8% less after paying for reforms and changing its network

Santander Portugal reported a profit of €663.8 million for the first nine months of 2026, an 8.8% decrease compared to the previous year. This decline is attributed to costs related to early retirements and agency modernization. The bank noted that without these non-recurring effects, profits would have only decreased by 1%. The financial margin fell by 1.3%, while commissions increased by 4.8% due to a growing customer base. The gross customer credit portfolio rose by 8.3% to €56.5 billion, and customer resources increased by 6.3% to €51.6 billion. The housing credit portfolio grew by 6.7% to €26.4 billion, with significant support for young buyers.