Reported by Consejeros Editorial Team
Banco Santander and Webster Financial Corporation have announced that they have receivedapproval from the US Federal Reserve forSantander’s acquisition of Webster, announced last February. Webster is theparent company of Webster Bank, N.A., a US retail and commercial bank. This authorisation follows that granted by the Office of the Comptroller of the Currency (OCC), the US banking regulator, on 12 June 2026, and that of the European Central Bank (ECB), received on 21 July 2026. The transaction is expected to be completed on 20 August 2026.
Ana Botín, Chair of Santander, said: “Santander US and Webster are a perfect fit. Together we will create a more robust bank with the scale needed to offer a better service to our customers and the communities in which we operate. This combination will strengthen our position in one of the world’s most attractive banking markets”.
Christiana Riley, Chief Executive Officer and Managing Director of Santander Holdings USA, Inc., said: “We are delighted to be one step closer to completing this important strategic acquisition, which will enhance our scale and complement our business model in the United States. The integration of two such complementary businesses will enable Santander to offer a better service to retail and corporate customers“.
The transaction is expected to strengthen Santander’s business in the United States and accelerate the achievement of its financial objectives. Once the integration is complete, Santander expects this market to achieve a return on tangible equity (RoTE) of around 18% in 2028. Furthermore, the transaction is estimated to generate an increase in earnings per share of around 7% or 8%, as well as a return on invested capital of close to 15%, also by 2028.
Once the transaction is complete, the majority of Webster’s businesses will be integrated into Santander Bank, N.A., Santander’s banking entity in the United States. Until the closing date, Santander and Webster will continue to operate independently. Customers do not need to take any action at this stage: their accounts, products and services will continue to function as normal. Any future changes will be communicated well in advance of them taking effect.
