Banco Santander (Brasil) SA

Latest Results (29.04.2026):

Banco Santander (Brasil) S.A. — 4Q24: The bank reported solid fourth-quarter 2024 results and a strong full-year performance. Accounting net income for 4Q24 was R$3.746 billion (up 5.5% versus 3Q24) and accounting net income for FY2024 was R$13.477 billion (up ~50% versus 2023). On a managerial basis, net income was R$3.854 billion in 4Q24 and R$13.872 billion for 2024, reflecting higher financial margin, growth in fees and controlled credit costs.

Profitability

Accounting net income: R$3.746 billion in 4Q24 (+5.5% q/q). Full-year 2024 accounting net income: R$13.477 billion (+50.2% y/y). Managerial net income was R$3.854 billion in 4Q24 and R$13.872 billion in 2024 (+47.8% y/y managerial).

Revenues and margin

Gross financial margin (managerial) was R$15,978 million in 4Q24 and R$60,746 million in 2024 (+14.2% y/y). Total managerial revenues in 4Q24 were R$21,493 million. Commissions (fees) continued expanding: R$5,515 million in 4Q24 and R$20,917 million in 2024 (+13.3% y/y), supporting revenue diversification.

Credit costs and asset quality

Provision for expected credit losses (managerial ALL) in 4Q24 was R$(5,932) million; FY2024 ALL result was R$(23,755) million, improving 5.7% versus 2023. The bank states loan quality remained good with non-performing ratios under control.

Loan book and balance sheet

Bank lending operations at 12/31/2024: R$366.3 billion; consolidated lending: R$455.2 billion. Total Bank assets were ~R$1.350 trillion and consolidated assets ~R$1.335 trillion at year-end 2024. Provisions for expected losses (Bank) stood at ~R$30.8 billion.

Funding and liquidity

Customer deposits were R$495.3 billion (Bank). Market funding, securities issuance and other funding lines remain material; the Group reports active wholesale and retail funding management and a larger, less volatile balance sheet objective.

Capital and shareholders’ equity

Bank stockholders’ equity at 12/31/2024 was R$90.105 billion (versus R$85.914 billion at 12/31/2023). Capital was increased during 2024 to R$65.0 billion (from R$55.0 billion).

Operating efficiency and costs

General/administrative expenses rose modestly q/q; managerial results show continued focus on productivity and selective, higher-return growth. Total managerial general expenses and other operating items were controlled while revenues expanded.

Macro outlook and commentary

Banco Santander (Brasil) highlighted a tougher macro backdrop in 4Q24: higher Selic (12.25% at end‑2024) and exchange rate volatility; the Bank expects a further tightening path into 2025 (management’s baseline: Selic rising toward mid‑2025 and IPCA ~5.5% in 2025). Management emphasizes building a less volatile, sustainable earnings profile.

Sustainability & governance

The 4Q24 report also highlights sustainability achievements (R$32.2 billion in sustainable business enabled, leadership in decarbonization credits, social and education programs) and governance metrics (Board 45% female, 55% independent).