Banco Santander (Brasil) (SANB4) investor relations material

Executive summary

• Recurring managerial net profit was R$2.885bn, down 4.3% QoQ and 28.0% YoY; recurring ROAE was 11.9%.

• Total revenue was R$20.375bn, down 1.4% QoQ and 1.9% YoY; accounting net profit was R$2.833bn, down 28.2% YoY.

• Strategy emphasized client primacy, selective origination, portfolio risk management and sustainable profitability recovery.

Financial highlights

• Net interest income was R$14.958bn, down 2.5% QoQ and 1.6% YoY; client NII fell 4.2% YoY to R$15.853bn, while market NII was negative R$895m.

• Fees were R$5.417bn, up 1.6% QoQ and down 2.4% YoY; card and insurance fees rose 8.1% and 5.6% YoY, respectively.

• Result from loan losses was R$7.460bn, up 14.4% YoY; general expenses were R$6.383bn, down 0.6% YoY.

• 9M26 recurring managerial net income was R$9.7bn, down 16.0% YoY; revenue was R$62.3bn, down 0.2%, and expected credit losses rose 8.5% to R$21.5bn.

Outlook and guidance

• Priorities include stronger client primacy, portfolio mix, funding, efficiency, technology-enabled productivity and disciplined risk management.

• Management expects NII growth in 2027, with a more positive market NII outlook than in 2026; agribusiness market NII is expected to remain negative but less adverse.

• Credit growth will follow client and risk profiles; SME expansion depends on rates and the operating environment, with transactional and services-linked lending as a focus.

• GDP forecasts were 1.8% for 2026 and 1.3% for 2027; Selic forecasts were 13.50% and 12.50% at year-end, respectively.