"The past six months have been among the most challenging in our history. The impact of the pandemic has tested us all and I am proud of how Santander has responded.

During the second quarter, we lent an average of €1.6 billion every day, supporting millions of individuals and businesses. Our teams have raised over €100 million to help communities respond to the pandemic, and we continued to serve our customers while keeping our people safe.

Our resilient model has delivered strong operating performance, with capital increasing, costs falling ahead of plan, and credit quality remaining healthy. While our statutory profit reflects a non-cash revaluation of goodwill and DTAs due to the impact of the pandemic on the economic outlook, it has no impact on the group’s balance sheet strength. The foundations of our business remain extremely strong, with capital at the top end of our target range."

ANA BOTÍN, GROUP EXECUTIVE CHAIRMAN OF BANCO SANTANDER