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Jim Cramer highlights Banco Santander after strong H1 2026 results
Banco Santander reported €8.97 billion in net income in the first half of 2026, up 31% year over year, helped by a 2.71% net interest margin and cost cuts.
Yahoo Finance reports that CNBC host Jim Cramer has continued to favor Banco Santander, highlighting the bank as one of his top European stock picks. The article says Cramer previously pointed to Santander’s plan to reach 20% return on tangible equity by 2028, and also linked the bank to investor interest in non-US markets. It also notes that Santander’s shares have gained 67% over the past year and 19.7% year to date. According to Yahoo Finance, Santander’s first-half 2026 performance includes €8.97 billion in net income, representing 31% annual growth. The piece attributes the gain to a net interest margin of 2.71%, improvements in managing loan yields versus customer deposit costs, a customer base expansion of 12 million to 181 million, and cost discipline that reduced its product catalog from 10,000 to 4,000.
At the same time, Yahoo Finance says some investors are questioning whether expectations are already priced in, citing a forward P/E of 12.18 versus 8.64 a year earlier. The article also points to regional weakness, including Brazil second-quarter profit dropping 17.6%, as a potential challenge to maintaining strong performance across all markets.