Banco Santander (Brasil) S.A.

What it is

Banco Santander (Brasil) is a full-service bank. It takes deposits, makes loans, issues credit and debit cards, and sells insurance to individuals, small businesses, and large corporations.

It operates in two main segments: Commercial Banking for everyday customers and companies, and Global Wholesale Banking for large corporate clients and capital markets. The bank is one of Brazil’s “big three” private lenders, alongside Itaú Unibanco and Bradesco.

Who owns it

The controlling shareholder is Spain’s Banco Santander S.A., which holds approximately 90% of the Brazilian unit’s total capital. The remaining shares trade freely on the B3 exchange in São Paulo.

Institutional investors hold only about 2.4% of the free float, according to the structured data. The bank’s units (SANB11) combine common and preferred shares into a single tradable instrument.

Who runs it

The bank is led by CEO Mario Leão, who took the role in January 2023 after serving as head of Santander Brasil’s corporate and investment banking division. He reports to the board of directors, which is chaired by a representative of the Spanish parent group.

The CFO is Angel Santodomingo, a long-time Santander executive who oversees financial planning, treasury, and investor relations. The bank’s governance follows Brazilian central bank rules for listed financial institutions.

The money, in plain words

The bank generated R$48.3 billion (US$9.4 bn) in revenue over the past twelve months, equivalent to US$9.4 billion. From that, it kept R$12.8 billion (US$2.5 bn) in net profit, or US$2.5 billion.

That works out to a net profit margin of 28.7% — for every real of revenue, about 29 centavos becomes profit. Return on equity is 11.2%, meaning each real shareholders have invested earns roughly 11 centavos a year, a moderate level for a Brazilian bank.

The bank trades at 14.6 times its annual earnings, and pays a dividend yield of 3.6%. Total assets stand at R$1.27 trillion (US$247.8 billion), making it one of the largest financial institutions in Latin America.

Revenue grew from R$121.4 billion (US$23.7 bn) in 2023 to R$151.5 billion (US$29.6 bn) in 2025, an increase of about 25% over two years (our calculation). Net profit rose from R$9.4 billion (US$1.8 bn) to R$12.8 billion (US$2.5 bn) over the same period.

What it is doing now

Santander Brasil has been expanding its digital banking and agribusiness lending. The bank has invested heavily in its mobile app and online platform, aiming to compete with digital-first rivals like Nubank.

In 2024, the bank reported a recovery in profitability after a difficult 2023, when provisions for bad loans weighed on results. Management has focused on improving credit quality and controlling costs.

What to watch

The key question is whether Santander Brasil can sustain its profit recovery while Brazil’s central bank keeps interest rates high. Higher rates tend to increase funding costs and loan defaults, but also boost income from the bank’s own investments.

Competition from digital banks remains intense, particularly in credit cards and personal loans. Watch for the bank’s quarterly net interest margin and loan-loss provisions as indicators of how well it is navigating this environment.

This is news, not investment advice.