The Spanish major bank Santander ES0113900J37 sees itself on track to achieve its annual targets after a good first quarter.

Bank CEO Ana Botin also confirmed the dividend payout plans on Wednesday when presenting the figures for the first three months. At the beginning of the year, she announced that she would invest a further €1.5 billion in buying back her own shares. She intends to spend €10 billion for this purpose in 2025 and 2026. The dividends will be on top of that. In the first three months, the bank, which is listed on the EuroStoxx 50 EU0009658145, earned €3.4 billion, almost a fifth more than a year ago. This is significantly more than experts expected. The Spanish bank, which has a strong presence in Mexico and the United States, among other countries, more than offset the decline in net interest income with rising commission income and lower costs.