Banco Santander SA (SAN) reports a record EUR 12.6 billion profit, robust customer growth, and strategic capital management in its full-year 2024 earnings call.

We have announced record results for the third consecutive year as we continue to grow revenue, profitability and returns," Executive Chair Ana Botin said.

Santander has said that it intends to return €10bn to investors over the next two years through buybacks after reporting record annual profits.

Santander on Wednesday announced 10 billion euros ($10.40 billion) in share buybacks for 2025 and 2026 and forecast higher profitability on the back of stronger growth in its U.S. consumer unit and efficiency gains.