Banco Santander, S.A. (Santander) and Webster Financial Corporation (Webster) have announced that they have received approval from the United States Federal Reserve for Santander’s acquisition of Webster, announced last February.
Webster is the parent company of Webster Bank, N.A., an American retail and commercial bank. This authorization comes after that granted by the Office of the Comptroller of the Currency (OCC), the United States banking regulatory agency, on June 12, 2026, and that of the European Central Bank, received on July 21, 2026. The transaction is expected to close on August 20, 2026.
This is what Ana Botín, Executive Chair of Santander, noted: “Santander US and Webster are a perfect fit. Together, with the support of Santander’s global platforms, technology, and experience, we will create a stronger bank with the scale necessary to offer a better service to our clients and the communities in which we operate. This combination will reinforce our position in one of the most attractive banking markets in the world and puts us in a privileged position to build one of the best-performing banks among our competitors in the United States.”
For her part, Christiana Riley, CEO and General Manager of Santander Holdings USA, Inc., points out: “We are pleased to be one step closer to completing this important strategic acquisition, which will improve our scale and complete our business model in the United States. The integration of two such complementary businesses will allow Santander to offer a better service to individual and corporate clients, and will contribute to the development of local communities. We look forward with enthusiasm to this new stage for Santander.”
“This is a very important milestone that will allow us to join our two organizations very soon for the benefit of our clients and the communities in which we operate. Santander’s greater scale, improved capabilities, and financial strength will help us strengthen our relationships with local communities and improve the trust that Webster’s clients have placed in us,” points out John Ciulla, Chairman and CEO of Webster.
The transaction is expected to reinforce Santander’s business in the United States and accelerate the fulfillment of its financial goals. Once the integration is completed, Santander foresees that market reaching a return on tangible equity (RoTE) of around 18% in 2028. Likewise, the operation is estimated to generate an increase in earnings per share of around 7% or 8%, as well as a return on invested capital close to 15%, also for 2028.
Upon completion of the transaction, most of Webster’s businesses will integrate into Santander Bank, N.A., Santander’s banking entity in the United States. Until the closing, Santander and Webster will continue to operate independently. Clients do not need to do anything at this time: their accounts, products, and services will continue to operate normally. Any future changes will be communicated far enough in advance before taking effect.
