Santander Bank is ramping up AI deployment to enhance cross-selling and deepen customer relationships.  

Santander generated 35 million euros ($41 million) in business value with AI in the first quarter, according to today’s earnings presentation. The bank expects its AI investments to generate more than $1 billion in value in the coming years through revenue growth and efficiency gains, according to its earnings report. 

Santander is working to increase the scale and efficiency of its digital banking division, Openbank, accelerating the bank’s AI initiatives, Chief Executive Hector Grisi Checa said during today’s earnings call.  

“Our global approach to technology is enhancing productivity by building once and deploying across the group, while we start to capture the benefits from AI, even in an initial investment phase,” he said. “All of this is something that is entirely under our control.” 

According to the presentation, the $2.2 trillion bank’s AI initiatives include:

• Maximizing cross-selling across businesses; 
• Strengthening customer relationships; and
• Agentic commerce.  

Gravity, the bank’s cloud-native platform that supports AI initiatives, developed in partnership with Google Cloud, is now deployed in Spain, Mexico and Chile, with Brazil to follow this year, Checa said. 

BY THE NUMBERS: Madrid-based Santander reported in Q1:

• Revenue totaled $17.7 billion, up 4% year over year; 
• Efficiency ratio was 42.8%, compared with 45.8% in Q1 2025;
• Information technology expenses rose 4% YoY to $733.7 million;
• Headcount totaled 185,243, down 5.7% YoY; and
• Net operating income increased 9.7% YoY to $10.1 billion. 

Shares of Santander Bank [NYSE: SAN] were down 0.8% from market open to $11.98 as of market close today. It has a market capitalization of $177.1 billion. 

Editor’s note: All amounts have been converted to U.S. dollars.  

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