Banco Santander and Webster Financial received the required approval from the Board of Governors of the Federal Reserve System for Santander’s previously announced acquisition of Webster, the holding company for Webster Bank, a diversified U.S. retail and commercial bank. This follows the approval by the Office of the Comptroller of the Currency on June 12, 2026, and the authorization granted by the European Central Bank on July 21, 2026. The transaction is now expected to close on Aug. 20, 2026.
“Santander US and Webster are a perfect match,” Ana Botín, executive chair of Santander, said. “Together, supported by Santander’s global platforms, technology and expertise, we will create a stronger bank with the scale to better serve our customers and communities. This combination will strengthen our position in one of the world’s most attractive banking markets and put us firmly on track to build one of the highest-performing banks among our U.S. peers.”
Christiana Riley, president and CEO of Santander, said: “We are pleased to be one step closer to this important, strategic acquisition that will expand our scale and round out our U.S. business model. Bringing together these two highly complementary businesses, Santander will be well positioned to better serve our customers and clients, while helping local communities prosper. We are excited for this next chapter for Santander.”
John Ciulla, chairman and CEO of Webster, added, “This is an exciting moment that will allow us to soon bring together our two great organizations to benefit our customers and communities. Santander’s expanded scale, enhanced capabilities and financial strength will help us to deepen local relationships and build upon the trusted partnership that Webster customers have come to expect from us.”
The transaction is expected to strengthen Santander’s U.S. franchise and accelerate the delivery of its financial objectives. Once integrated, Santander expects its U.S. business to achieve a return on tangible equity (RoTE) of around 18% by 2028, while the transaction is expected to generate approximately 7–8% earnings per share accretion and an estimated 15% return on invested capital, all by 2028.
Upon closing, most Webster’s businesses will become part of Santander Bank, Santander’s banking franchise in the United States. Until the transaction closes, Santander and Webster will continue to operate independently.
