Banco Santander completes share buy-back, reduces capital

MADRID - Banco Santander (BME:SAN) S.A. has announced the completion of its share buy-back program, resulting in a 1.76% reduction of its share capital. The bank has acquired a total of 267,166,950 own shares, reaching the maximum investment of EUR 1.587 billion set for the program.

The buy-back program, which was regularly disclosed in compliance with the Commission Delegated Regulation (EU) No. 2016/1052, has been concluded as planned. The shares acquired have now been cancelled, following the European Central Bank’s authorization on January 31, 2025, and the approval at Banco Santander’s ordinary general shareholders’ meeting on April 4, 2025.

As of June 2, 2025, the bank’s share capital stands at EUR 7,442,662,686, represented by 14,885,325,372 shares, after the capital reduction of EUR 133,583,475 through the cancellation of the acquired shares. This move is aimed at remunerating shareholders by increasing the profit per share due to the reduced number of shares in circulation. No contributions will be returned to shareholders as the bank owns the cancelled shares.

A reserve for amortised capital will be created, equivalent to the nominal value of the cancelled shares, which can only be used under conditions similar to those for capital reduction, as per the Spanish Companies Law. The bank’s creditors will not have the right of objection to this reduction.

The bank has also stated that since November 2021, after eight buy-back programs, the accumulated share capital reduction amounts to EUR 1,227,657,965, which is approximately 14.16% of its outstanding shares at that time.

The final transactions of the buy-back program were executed between May 29 and June 2, 2025, across various trading venues including XMAD, CEUX, TQEX, and AQEU.

The completion of the capital reduction and the amendment of the bank’s by-laws will be formally registered with the Commercial Registry of Santander. Additionally, the delisting of the cancelled shares from the Spanish and foreign stock exchanges and the cancellation of the book-entry records will be requested.

This announcement is based on a press release statement and provides investors with the latest developments regarding Banco Santander’s financial maneuvers.

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