Santander aims to generate €1bn from AI, emphasising its focus on digital transformation to drive growth and operational efficiency.
Banco Santander has unveiled ambitious plans to generate more than €1 billion (£870 million) in value annually from artificial intelligence and data investments by 2028, aiming to create new opportunities and strengthen its market position as part of a wider cost-reduction and growth strategy.
The global banking giant, which serves customers across Europe and the Americas, aims to harness AI technology to improve operational efficiency, automate processes, and deliver more personalised digital services that meet evolving customer expectations.
Under its new 2026–2028 roadmap, Santander is targeting revenue growth every year, progressive cost reduction across the business, pre-tax profit exceeding €20 billion (£17.4 billion) by 2028 and the expansion of its global customer base from 180 million to 210 million.
Santander’s strategy aligns with industry-wide efforts to combine scale expansion with automation-driven cost control, highlighting its competitive positioning.
Santander expects its investment in artificial intelligence and advanced data analytics to deliver both direct cost savings through automation and new revenue streams via enhanced financial products and customer personalisation.
Bank executives said the organisation aims to use AI systems to streamline back-office operations, fraud detection, risk modelling and customer interaction services.
Like other major lenders, Santander is positioning itself to benefit from the global AI technology boom while managing operating expenses.
The bank has also continued restructuring its physical presence, reflecting its commitment to adapting to digital trends and ensuring sustainable growth in a changing banking landscape.
Santander recently confirmed plans to close 44 additional UK branches, reducing its high-street network to 244 full branches by early next year.
This reflects a long-term shift in consumer behaviour away from traditional branch banking.
Rival lender Lloyds Banking Group is expected to maintain roughly 610 branches after its own closure programme is completed.
Industry-wide, banks are reducing physical networks as customers increasingly use mobile and online services for everyday transactions.
Ana Botin, the executive of the wider Banco Santander group, said: “Our strategic plan for 2026-28 sets a new standard for profitable growth, with the aim to serve more than 210 million customers across Europe and the Americas.”
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