Banco Santander (Brasil) SA (BSP:SANB4)

Q2 2026 Banco Santander Brasil SA Earnings Call (English, Portuguese) Transcript

Jul 29, 2026 / 01:00 PM GMT

Release Date Price: R$13.06 (-6.71%)

Transcript

Key Points

Positve

Banco Santander (Brasil) SA (BSBR) reported a recurring net income of BRL 3 billion with a ROAE of 12.5%, indicating a stable financial performance despite challenging conditions.
The customer base grew by 6% over the past 12 months, reaching 76.2 million clients, demonstrating successful customer acquisition strategies.
The Santander Rewards program has shown positive results, with increased customer engagement and card spending, enhancing customer loyalty.
The bank has maintained strict lending criteria, resulting in selective growth in loan portfolios, with notable increases in cards (13%), customer finance (15%), and small and mid-sized enterprises (11.5%).
Personnel and administrative expenses were well-controlled, with growth significantly below inflation, reflecting effective cost management strategies.

Negative

The macroeconomic environment remains challenging, with increased cost of risk impacting financial results.
Revenue growth was lower than expected, and the cost of risk increased, partly due to one-off items, affecting overall profitability.
The bank's focus on rebalancing its product and customer mix may have short-term impacts on revenue.
There is pressure on the portfolios of smaller companies in the agribusiness segment and among low-income individual clients, requiring higher provisioning levels.
The efficiency ratio closed at 39.3%, under pressure from lower revenue generation, indicating room for improvement in operational efficiency.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SANB3.SA - Banco Santander Brasil SA
Q2 2026 Banco Santander Brasil SA Earnings Call (English, Portuguese)
Jul 29, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone, and thank you for joining us for our second quarter 2026.

Earnings conference call. We are broadcasting live from our headquarters in Sao Paulo, and we will be dividing this event into two parts. First, our CFO, Carlos Muniz, will provide a detailed analysis of our performance and our strategic direction for the coming periods.

Next, we'll have the Q&A session.

Here are some instructions for you. We have three audio options on the screen: Portuguese, English, or the original audio.

To select your preferred option, simply click the button at the bottom center of your screen. To ask a question, click in the hand icon at the bottom. Of

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