8 Most Profitable Bank Stocks To Buy According to Analysts

5. Banco Santander, S.A. (NYSE:SAN)

Average Upside Potential: 19.33%

TTM Net Income: $9.121 Billion

Banco Santander, S.A. (NYSE:SAN) is a Spanish multinational financial services company. Santander was founded in 1857 and it became Spain’s seventh-largest financial institution by its 100^th  anniversary in 1957. The company is structured under five global businesses including Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking, Wealth Management & Insurance, and Payments.

SAN’s business model is based upon unique competitive advantages including diversification, a global scale, and customer focus. While Banco Santander, S.A. (NYSE:SAN) focuses on achieving well-balanced diversification between businesses and markets, its in-market and global scale helps enhance local banks’ profitability. As of September 2024, SAN boasts 171 million customers and €1,802 total assets. In recent years, the company has expanded its customer base with balanced growth by business and regions.

Recent news circulating regarding the company is that it is reviewing its presence in Britain according to a person familiar with the matter. While Santander left a statement referring to the UK as a core market, the bank is looking into strategic options, including leaving Britain to focus on larger growth regions such as the United States, as reported by the Financial Times. The higher costs of business for banks in Britain have been mentioned as a concern by several financial trade bodies, relative to international competitors.