Banco Santander, S.A. filed a Form 6-K on November 12, 2026, reporting the November 11, 2026 registration of a capital reduction deed involving the cancellation of 150,595,100 own shares, reducing share capital by EUR 75,297,550.

Key Highlights

  • Capital reduction registered: The public deed of capital reduction was registered with the Commercial Registry of Santander on November 11, 2026.
  • Shares cancelled: 150,595,100 own shares were cancelled, representing approximately 1.03% of the Bank's share capital.
  • Reduction amount: The capital reduction totals EUR 75,297,550.
  • New share capital: Following the reduction, the Bank's share capital is set at EUR 7,202,943,850.50, represented by 14,405,887,701 shares with a nominal value of EUR 0.50 each.
  • Cumulative buyback activity: Across eleven buyback programmes carried out against results since 2021, the accumulated capital reduction amounts to EUR 1,632,300,019.50, with 3,264,600,039 shares repurchased since November 2021, approximately 18.8% of shares outstanding at that date.
  • Executive committee decision: The capital reduction was executed by decision of the Bank's executive committee at its meeting held on 4 November 2026.

Banco Santander Completes Latest Share Cancellation Under Buyback Programme

According to the filing, Banco Santander communicated the completion of a capital reduction first announced via a notice registered with Spain's Comisión Nacional del Mercado de Valores on 28 October 2026 (registry number 43376). The Bank's executive committee approved execution of the reduction at its meeting on 4 November 2026, and the corresponding public deed - which also entailed a Bylaw amendment - was registered with the Commercial Registry of Santander on November 11, 2026.

The filing disclosed that the cancellation of 150,595,100 own shares, representing approximately 1.03% of the Bank's share capital, reduced capital by EUR 75,297,550. As a result, the Bank's share capital now stands at EUR 7,202,943,850.50, divided into 14,405,887,701 shares, each with a nominal value of EUR 0.50. The filing stated that "all of the shares belong to the same class and have the same rights."

The Bank also disclosed the cumulative effect of its repurchase activity. According to the filing, once the eleven buyback programmes carried out against results since 2021 are considered in aggregate, the total accumulated capital reduction amounts to EUR 1,632,300,019.50, with 3,264,600,039 shares repurchased since November 2021, equating to approximately 18.8% of shares outstanding as of that date. The filing was signed by Pedro de Mingo Kaminouchi, Head of Corporate Compliance, on behalf of Banco Santander, S.A.

What Was Disclosed

Banco Santander reported the registration of a capital reduction deed cancelling 150,595,100 shares for EUR 75,297,550, setting new share capital at EUR 7,202,943,850.50 across 14,405,887,701 shares, and noted cumulative repurchases of approximately 18.8% of shares outstanding since November 2021.