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Create a more balanced business model, blending Santander’s consumer finance strengths with Webster’s commercial banking expertise
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Improve the combined net loan-to-deposit ratio from 109% to roughly 100%
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Enhance funding efficiency through Webster’s deposit base
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Generate about $800 million in cost synergies, equal to roughly 19% of the combined cost base
Santander U.S. projects its efficiency ratio will fall below 40% by 2028.
Capital Strength and Returns
Santander expects the acquisition to deliver a return on invested capital of approximately 15% and boost group earnings per share by 7% to 8% by 2028.
Santander U.S. is projected to achieve a return on tangible equity of 18% by 2028. The group’s common equity Tier 1 ratio is expected to stand at 12.8% post-closing, rising above 13% by 2027 — maintaining capital at the upper end of its 12%–13% operating range while preserving buyback targets.
The transaction will be funded through excess capital and future capital generation.
