Banco Santander (Brasil) S.A. (BSBR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la banca brasileña, Banco Santander (Brasil) S.A. surge como una potencia de innovación financiera, combinando estratégicamente los principios bancarios tradicionales con transformación digital de vanguardia. Al aprovechar un modelo de negocio sofisticado que abarca servicios financieros integrales, destreza tecnológica y enfoques centrados en el cliente, el banco se ha posicionado como una institución financiera líder que conecta perfectamente experiencias bancarias físicas y digitales para millones de clientes brasileños en diversos segmentos de mercado.

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocios: asociaciones clave

Alianza estratégica con Santander Group

Banco Santander (Brasil) mantiene una asociación integral con Santander Group, con las siguientes métricas financieras clave:

Métrico de asociación	Valor
Inversión grupal total en Brasil	R $ 38.2 mil millones
Infraestructura de tecnología compartida	92% de sistemas integrados
Servicios financieros transfronterizos	17 países conectados

Asociaciones tecnológicas

Banco Santander (Brasil) colabora con múltiples empresas de tecnología brasileña:

• Asociación con Pagamentos de Stone
• Colaboración con Cielo para soluciones de pago
• Integración tecnológica con plataforma digital Nubank

Colaboración de fintech

Detalles clave de la asociación Fintech:

Socio de fintech	Monto de la inversión	Enfoque de servicio
Loggi	R $ 125 millones	Tecnología logística
Quintoandar	R $ 250 millones	Servicios financieros inmobiliarios
Ebanx	R $ 85 millones	Soluciones de pago internacionales

Acuerdos comerciales corporativos y minoristas

Las asociaciones comerciales estratégicas incluyen:

• Asociación con Petrobras para la banca corporativa
• Colaboración de productos financieros con Vale
• Acuerdos de banca minorista con los principales minoristas brasileños

Inversión total de asociación en 2023: R $ 503.2 millones

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocio: actividades clave

Servicios de banca minorista y comercial en todo Brasil

A partir del tercer trimestre de 2023, Banco Santander Brasil operaba con 3.310 ramas y 16,415 cajeros automáticos en Brasil. El banco atendió aproximadamente 35.7 millones de clientes, con una cartera total de préstamos de BRL 424.1 mil millones.

Categoría de servicio bancario	Volumen total (BRL)
Préstamos bancarios corporativos	BRL 178.6 mil millones
Préstamos bancarios individuales	BRL 245.5 mil millones

Desarrollo y mantenimiento de la plataforma de banca digital

En 2023, Santander Brasil invirtió BRL 1.2 mil millones en infraestructura de tecnología digital. El banco reportó 23.4 millones de clientes digitales, con el 85% de las transacciones realizadas a través de canales digitales.

• Descargas de aplicaciones de banca móvil: 12.6 millones
• Usuarios bancarios en línea: 18.9 millones
• Volumen de transacción digital: 92% de las transacciones totales

Gestión de riesgos y servicios de asesoramiento financiero

El banco mantuvo un Ratio de préstamo sin rendimiento del 3.2% en 2023, con un equipo de gestión de riesgos de 1.247 profesionales especializados.

Métrica de gestión de riesgos	Valor
Disposiciones de pérdida de préstamo	BRL 22.3 mil millones
Presupuesto de gestión de riesgos	BRL 487 millones

Gestión de la cartera de crédito y préstamos

Santander Brasil manejó una cartera de crédito total de BRL 424.1 mil millones en 2023, con diversificación en múltiples sectores.

• Préstamo corporativo: 42% de la cartera
• Préstamo individual: 58% de la cartera
• Tasa de crecimiento promedio de préstamos: 8.7% año tras año

Ofertas de inversión y gestión de patrimonio

El banco administró BRL 256.8 mil millones en activos de gestión de patrimonio a partir del tercer trimestre de 2023.

Producto de inversión	Activos totales bajo administración
Fondos mutuos	BRL 142.3 mil millones
Fondos de pensiones privadas	BRL 114.5 mil millones

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocios: recursos clave

Red de sucursal extensa

A partir del tercer trimestre de 2023, Banco Santander Brasil opera:

Tipo de rama	Número total
Sucursales bancarias físicas	3,198
Canales bancarios digitales	7,830
Red de cajeros automáticos	13,531

Infraestructura de tecnología de banca digital

Inversión y capacidades tecnológicas:

• Inversión de tecnología anual: R $ 1.2 mil millones
• Usuarios de la plataforma de banca digital: 12.4 millones
• Descargas de aplicaciones de banca móvil: 8.7 millones

Capital financiero y liquidez

Métricas financieras a partir de septiembre de 2023:

Métrica financiera	Cantidad
Activos totales	R $ 1.04 billones
Relación de capital de nivel 1	14.2%
Equidad de los accionistas	R $ 89.3 mil millones

Fuerza laboral hábil

Composición de recursos humanos:

• Total de empleados: 45,621
• Edad promedio del empleado: 36 años
• Empleados con educación superior: 82%

Base de datos y análisis de clientes

Métricas de la base de clientes:

Segmento de clientes	Total de clientes
Total de clientes individuales	27.4 millones
Clientes corporativos	332,000
Usuarios bancarios digitales	18.6 millones

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocio: propuestas de valor

Soluciones financieras integrales para individuos y empresas

Banco Santander Brasil ofrece una amplia gama de productos financieros con el siguiente desglose de la cartera:

Categoría de productos	Valor total de la cartera (2023)	Cuota de mercado
Banca personal	R $ 237.4 mil millones	15.3%
Banca corporativa	R $ 189.6 mil millones	12.7%
Préstamos para pequeñas empresas	R $ 45.2 mil millones	8.9%

Experiencias bancarias digitales y físicas integradas

Rendimiento de los canales bancarios digitales:

• Usuarios de banca móvil: 12.7 millones
• Transacciones bancarias en línea: 487 millones por año
• Volumen de transacción digital: R $ 672.3 mil millones

Tasas de interés competitivas y productos financieros

Producto	Tasa de interés	Volumen anual
Préstamos personales	1.89% mensual	R $ 56.8 mil millones
Préstamos hipotecarios	0.99% mensual	R $ 34.2 mil millones
Líneas de crédito corporativas	1.45% mensual	R $ 89.7 mil millones

Servicios bancarios personalizados con conveniencia tecnológica

Inversión tecnológica y servicios digitales:

• Inversión de tecnología anual: R $ 1.2 mil millones
• Interacciones de servicio al cliente con IA: 67% de las interacciones totales
• Usuarios de autenticación biométrica: 8.9 millones

Asesoramiento financiero integral y gestión de patrimonio

Servicio de asesoramiento	Activos totales bajo administración	Cartera promedio de clientes
Gestión de patrimonio	R $ 127.6 mil millones	R $ 2.3 millones
Aviso de inversión	R $ 89.4 mil millones	R $ 1.7 millones
Planificación de jubilación	R $ 45.2 mil millones	R $ 875,000

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocio: Relaciones con los clientes

Interacción del cliente multicanal

Banco Santander Brasil opera a través de múltiples canales de interacción:

Canal	Número de puntos de acceso	Usuarios activos mensuales
Ramas físicas	3,780	1.2 millones
Plataforma de banca digital	N / A	14.5 millones
Aplicación de banca móvil	N / A	12.3 millones
Red de cajeros automáticos	14,500	8.7 millones

Servicio y soporte al cliente personalizado

Métricas de servicio al cliente:

• Tiempo de respuesta promedio: 24 horas
• Tasa de satisfacción del cliente: 86.4%
• Gerentes de relaciones dedicadas para clientes corporativos y de alto nivel de red

Programas de fidelización y ofertas financieras específicas

Programa de fidelización	Totales miembros	Valor anual
Santander recompensas	2.6 millones	R $ 340 millones

Plataformas de autoservicio digital

Capacidades de servicio digital:

• 100% de las transacciones bancarias básicas disponibles en línea
• Proceso de apertura de cuenta digital: tiempo de finalización promedio de 12 minutos
• Funcionalidad de depósito de cheques móviles

Participación proactiva del cliente a través de la tecnología

Método de participación tecnológica	Tasa de adopción
Servicios de chatbot	68% de las interacciones del cliente
Recomendaciones financieras personalizadas	42% de los usuarios de plataforma digital
Atención al cliente impulsada por IA	53% de las interacciones de servicio al cliente

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocio: canales

Sucursales bancarios físicos en todo el país

A partir de 2023, Banco Santander Brasil opera 3.352 sucursales bancarios físicos en Brasil. El banco mantiene una presencia física significativa con la distribución de sucursales de la siguiente manera:

Región	Número de ramas	Porcentaje de total
São Paulo	1,456	43.4%
Río de Janeiro	512	15.3%
Otras regiones	1,384	41.3%

Aplicación de banca móvil

La aplicación de banca móvil de Santander Brasil informó las siguientes métricas en 2023:

• Usuarios de banca móvil activa total: 12.4 millones
• Volumen de transacción mensual: 87.6 millones de transacciones
• Estadísticas de descarga de aplicaciones móviles: 6.2 millones de descargas activas

Sitio web de banca en línea

Rendimiento de la plataforma bancaria en línea en 2023:

Métrico	Valor
Usuarios en línea registrados	15.8 millones
Usuarios activos diarios	7.3 millones
Transacciones en línea anuales	1.200 millones

Red de cajeros automáticos

Detalles de la infraestructura de cajeros automáticos de Santander Brasil:

• Total de cajeros automáticos: 12,486
• Cobertura geográfica: 2,587 municipios
• Volumen mensual de transacciones de cajeros automáticos: 45.3 millones de transacciones

Centros de llamadas de servicio al cliente

Estadísticas operativas del centro de llamadas para 2023:

Categoría	Volumen
Agentes de centro de llamadas totales	4,782
Interacciones anuales del cliente	38.6 millones
Tiempo de respuesta promedio	47 segundos

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocio: segmentos de clientes

Clientes de banca minorista individual

A partir del tercer trimestre de 2023, Banco Santander Brasil atiende a 33.8 millones de clientes de banca minorista individual.

Desglose del segmento de clientes	Número de clientes
Usuarios bancarios digitales	22.5 millones
Usuarios de banca móvil	18.3 millones

Empresas pequeñas y medianas

Santander Brasil admite 536,000 empresas pequeñas y medianas (PYME) a ​​partir de 2023.

• Portafolio de crédito total para las PYME: R $ 56.4 mil millones
• Tamaño promedio del préstamo: R $ 105,000

Grandes clientes corporativos

El banco atiende a 2.800 grandes clientes corporativos en varios sectores.

Segmento corporativo	Exposición total del crédito
Banca corporativa	R $ 184.6 mil millones
Banca de inversión	R $ 42.3 mil millones

Individuos de alto nivel de red

Santander Brasil administra 45,000 clientes individuales de alto patrimonio neto.

• Valor promedio de la cartera: R $ 3.2 millones por cliente
• Activos totales bajo administración: R $ 144 mil millones

Inversores institucionales

El banco atiende a 1.200 inversores institucionales.

Tipo de inversor	Activos bajo administración
Fondos de pensiones	R $ 62.7 mil millones
Fondos de inversión	R $ 38.5 mil millones

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

En 2023, Banco Santander Brasil invirtió R $ 1.2 mil millones en infraestructura tecnológica y plataformas digitales. El desglose de los gastos de tecnología del banco incluye:

Categoría de costos tecnológicos	Gasto anual (R $)
Mantenimiento de sistemas de TI	528 millones
Infraestructura de ciberseguridad	312 millones
Plataformas de banca digital	360 millones

Salarios y capacitación de los empleados

Los gastos totales de personal para 2023 fueron R $ 4.8 mil millones, con la siguiente asignación:

• Salarios base: R $ 3.2 mil millones
• Programas de capacitación de empleados: R $ 96 millones
• Beneficios y contribuciones sociales: R $ 1.5 mil millones

Gastos operativos de la red de sucursales

Categoría de costos operativos	Gasto anual (R $)
Alquiler y mantenimiento de la sucursal	672 millones
Utilidades e infraestructura	240 millones
Logística de la red de sucursales	408 millones

Costos de cumplimiento regulatorio

Los gastos relacionados con el cumplimiento para 2023 totalizaron R $ 612 millones, que incluyen:

• Consultoría legal y regulatoria: R $ 186 millones
• Sistemas de gestión de cumplimiento: R $ 216 millones
• Auditoría y gestión de riesgos: R $ 210 millones

Gastos de marketing y adquisición de clientes

Categoría de costos de marketing	Gasto anual (R $)
Campañas de marketing digital	312 millones
Publicidad de medios tradicional	228 millones
Programas de adquisición de clientes	180 millones

Banco Santander (Brasil) S.A. (BSBR) - Modelo de negocios: Flujos de ingresos

Ingresos por intereses de préstamos y productos de crédito

A partir del tercer trimestre de 2023, Banco Santander Brasil reportó una cartera de préstamos totales de BRL 395.5 mil millones. Los ingresos por intereses netos llegaron a BRL 13.8 mil millones durante los primeros nueve meses de 2023.

Categoría de préstamo	Volumen total (BRL mil millones)	Porcentaje de ingresos por intereses
Préstamos corporativos	172.3	43.5%
Préstamos individuales	138.7	35.1%
Crédito de consumo	84.5	21.4%

Tarifas de servicio bancario

Los ingresos de la tarifa de servicio para Banco Santander Brasil en 2023 totalizaron BRL 7.2 mil millones.

• Tarifas de mantenimiento de la cuenta: BRL 1.8 mil millones
• Tarifas de procesamiento de transacciones: BRL 2.5 mil millones
• Tarifas relacionadas con la tarjeta: BRL 2.9 mil millones

Comisiones de inversión y gestión de patrimonio

Los ingresos de gestión de patrimonio para 2023 fueron BRL 3.6 mil millones, con activos bajo administración que alcanzan los 247 mil millones de BRL.

Producto de inversión	Ingresos de la Comisión (BRL Millones)
Fondos mutuos	1,450
Pensión privada	890
Aviso de inversión	1,260

Tarifas de transacción bancaria digital

Las tarifas de transacción digital generaron BRL 1.5 mil millones en 2023, lo que representa el 22% de las tarifas totales de servicio bancario.

• Transacciones bancarias móviles: BRL 780 millones
• Tarifas de pago en línea: BRL 420 millones
• Tasas de transferencia digital: BRL 300 millones

Venta de seguros y productos financieros

Los ingresos por ventas de seguros y productos financieros llegaron a BRL 2.7 mil millones en 2023.

Categoría de productos	Ingresos (Brl Millions)
Seguro de vida	890
Seguro de propiedad	650
Productos de garantía extendidos	420
Planes de protección de crédito	740

Banco Santander (Brasil) S.A. (BSBR) - Canvas Business Model: Value Propositions

You're looking at the core value Banco Santander (Brasil) S.A. (BSBR) delivers to its customers as of late 2025. It's about offering a complete financial ecosystem, blending digital speed with human presence.

Comprehensive banking: Full suite of loans, investments, and credit facilities

Banco Santander (Brasil) S.A. (BSBR) provides a full spectrum of financial tools, from basic transactional accounts to complex investment vehicles. The scale of their operations supports this breadth, as seen in their Q3 2025 performance metrics.

The expanded loan portfolio reached R$ 688.801 billion as of the end of Q3 2025, showing measured credit expansion. Furthermore, fee income, which diversifies revenue streams beyond pure lending, totaled R$ 5.552 billion in that quarter alone, marking a 6.7% increase quarter-over-quarter. The bank is clearly focused on driving value through client activity and service fees. Overall, the bank attracted more customers, exceeding 73 million total clients in October 2025, a 7% year-on-year growth.

Metric (Q3 2025)	Value	Change Indicator
Managerial Net Profit	R$ 4.0 billion	Up 9.6% QoQ
Return on Average Equity (ROAE)	17.5%	Solid Profitability
Client Net Interest Income (NII)	R$ 16.556 billion	Up 11.1% YoY
Fee Income	R$ 5.552 billion	Up 4.1% YoY

Digital-physical blend: Seamless experience via the One app and physical branches

Banco Santander (Brasil) S.A. (BSBR) positions itself as both a digital leader and a bank with a genuine physical footprint. This blend is central to their strategy to be the customer's bank of choice in a market where customers hold an average of between five and six current accounts. The goal is convenience and trust at every touchpoint. You see this commitment in their transaction habits; in 2024, 92% of transactions were already conducted through digital channels. The bank is actively pushing this integration with the launch of the new Santander app, the OneApp, which was aimed at consolidating various services by Q3 2025.

The value proposition here is not just digital access, but the combination:

• The One app for transactional ease and hyper-personalization.
• Physical branches and remote channels for complex needs and trust-building.
• Focus on flawless PIX and payment experiences, including PIX via credit card.
• Individual Net Promoter Score (NPS) reached a record level of 61 points, suggesting digital and service improvements are resonating.

Specialized credit: Strong growth in consumer finance (up 16%) and SME lending (up 11%)

Banco Santander (Brasil) S.A. (BSBR) is strategically increasing exposure to higher-yield segments, even as the overall loan book growth is managed carefully. This focus on specialized credit is a key driver for fee growth and higher spreads, though it comes with a monitored increase in risk mix.

The growth figures in these areas are quite telling of the near-term strategy. Consumer finance has seen a year-on-year increase of 16%, and SME lending has grown by 11% year-on-year, according to Q2 2025 data. The cards business, a component of consumer finance, posted a 16% annual increase in Q4 2024. The bank is prioritizing wealth, SMEs, and auto/consumer finance through technology and service.

Financial inclusion: Microfinance through Prospera Santander Microfinance

Financial inclusion is a tangible value proposition through the Prospera Santander Microfinance program. This initiative supports micro-entrepreneurs often invisible to the traditional system. This is about more than just credit; it includes training and support for sustainable local economic growth.

The scale of Prospera demonstrates this commitment:

• Loan portfolio size reached R$ 3.3 billion as of 2024/early 2025.
• Served over 1.1 million active clients as of 2024.
• The bank has a goal to financially empower 5 million people between 2023 and 2026.
• The program operates in over 1,700 municipalities, with a strong presence in underserved regions like the north and northeast.

Global access: Leveraging the international network of the parent company

As part of the global Grupo Santander, Banco Santander (Brasil) S.A. (BSBR) offers its clients the benefit of an international network. This connectivity is leveraged to strengthen positioning in core markets and foster collaboration between the bank's global businesses, such as Global Banking and Global Transactional Banking (GTB). This structure allows for the offering of solutions that benefit from global expertise and reach.

Banco Santander (Brasil) S.A. (BSBR) - Canvas Business Model: Customer Relationships

You're looking at how Banco Santander (Brasil) S.A. (BSBR) keeps its customers engaged, which is critical given the competitive landscape where Brazilian customers hold an average of between five to six current accounts and three active credit cards as of late 2025. The bank's strategy balances high-tech automation with high-touch relationship management.

Automated service: High reliance on digital self-service channels

The push toward digital is defintely strong here. Banco Santander (Brasil) S.A. reported that in 2024, 92% of its transactions were completed through digital channels. This reliance on self-service channels supports the bank's efficiency ratio, which stood at 37.5% in Q3 2025. This digital-first approach helps manage costs while serving a massive user base.

The ecosystem is rapidly evolving with new instant payment features, which you should track closely:

• Pix por Aproximação (Contactless Pix) launched on February 28, 2025.
• Pix Automático (Automatic Pix) is set for official launch in June of 2025.
• Innovations like Pix via credit card are aimed at improving transactionality.

Dedicated relationship managers: For high-value and corporate clients

While digital handles the volume, personalized service remains key for the most valuable clients. The bank's focus on its Corporate & SME segment, which drove loan portfolio growth, means dedicated managers are essential relationship anchors. The expanded loan portfolio reached R$688.8 billion by the end of Q3 2025. This segment relies on the high-value advice that digital platforms can't fully replicate, ensuring that the bank remains a strategic partner beyond simple transactions.

Community focus: Social programs like the Amigo de Valor Program

Banco Santander (Brasil) S.A. uses its community involvement to build deeper, values-based relationships with employees and customers. The Amigo de Valor Program, which supports child and adolescent protection projects, shows concrete results. In 2024, this program mobilized over R$ 25 million, supporting 65 projects across 64 municipalities. In a specific prior action, the mobilization reached R$ 25.2 million, sourced 42% from Santander (Brasil) S.A. itself, 29% from employees, and 29% from customers. To date, the program has benefited approximately 1.6 million children and adolescents.

Digital engagement: Improving NPS via new payment experiences like PIX

The bank is actively using technological advancements to drive customer satisfaction metrics. Banco Santander (Brasil) S.A. noted that its Net Promoter Score (NPS) has grown consistently over the past 12-18 months in both retail and corporate banking, directly linking this to new product launches and digital improvements. The broader market context shows high digital penetration, with over 94% of Brazilian adults having access to a bank account as of May 2025.

Here's a quick look at the scale of digital adoption and transaction activity influencing these relationships:

Metric Category	Data Point	Value/Amount
Digital Transaction Share (2024)	Percentage of total transactions via digital channels	92%
Q3 2025 Fee Income	Total fees generated	R$ 5.552 billion
Customer Base Penetration (May 2025)	Adults with bank accounts in Brazil	Over 94%
Q3 2025 Client NII	Net Interest Income from clients	R$ 16.556 billion

The bank's Q3 2025 managerial net profit was R$ 4.0 billion, with a Return on Equity (ROAE) of 17.5%, showing that these customer-centric digital and relationship strategies are translating to solid financial performance.

Banco Santander (Brasil) S.A. (BSBR) - Canvas Business Model: Channels

You're looking for the hard numbers on how Banco Santander (Brasil) S.A. reaches its customers as of late 2025. Here's the breakdown based on the latest available figures, focusing purely on the channel statistics.

Digital platforms: Mobile banking via the One app and internet banking.

The digital channel is a core focus, with the new One App being rolled out globally, originating from Brazilian development teams. The public beta for this new platform saw initial adoption numbers.

• Public beta users for the new One App: more than 100,000 users.
• Total customer base as of October 2025: exceeded 73 million.
• Active customer base growth: 7% up year-on-year as of October 2025.

Physical network: Traditional branches and service points across Brazil.

Despite the digital push, the physical footprint remains a key component of the distribution strategy, providing a genuine presence across the country.

Here is a snapshot of the physical infrastructure as reported at the end of the 2024 fiscal year, which serves as the most granular data point found for the network size:

Channel Type	Count (As of December 31, 2024)
Traditional Branches	1,239
Mini-branches	1,025

ATMs: Proprietary and shared network access.

Access to cash and basic transactions is supported by a mix of proprietary and shared ATM infrastructure.

ATM Network Type	Count (As of December 31, 2024)
Proprietary ATMs	7,615
Shared ATMs	24,214

Sales force: Direct sales for corporate and investment products.

The bank supports its Commercial Banking and Global Wholesale Banking segments with a dedicated workforce. The total employee count provides a measure of the scale supporting all channels.

• Total employees for Banco Santander (Brasil) S.A. as of October 31, 2025: 51,747.
• Trailing Twelve Month Revenue as of September 30, 2025: $8.27B.

The strength of the franchise is measured by client Net Interest Income (NII) and fees, which saw a year-on-year increase of 11.1% and growth of 6.7% quarter-on-quarter in fees for Q3 2025, respectively.

Banco Santander (Brasil) S.A. (BSBR) - Canvas Business Model: Customer Segments

You're looking at the client base of Banco Santander (Brasil) S.A. (BSBR) as of late 2025. The bank has a broad reach, with its total customer base hitting 72.8 million in the third quarter of 2025, marking a 7% year-over-year increase, with some reports noting over 73 million clients. Of that total, 33.7 million customers are considered active, meaning they effectively use the bank's products.

The strategy clearly targets growth across the spectrum, from the everyday user to large institutions. Here's how the segments stack up based on recent financial activity:

• Individual retail clients form the largest part of the loan book.
• Small and Medium-sized Enterprises (SMEs) are a key growth area, showing strong loan portfolio expansion.
• Corporate and Institutional clients are served through the Corporate & Investment Banking (CIB) division.
• Microentrepreneurs are specifically targeted through the Prospera microfinance unit for financial inclusion.

The bank's overall expanded loan portfolio reached R$ 688.8 billion by the end of Q3 2025.

Individual Retail and High-Value Personal Clients

This segment represents the bank's largest lending exposure. The portfolio for pessoas físicas (individuals) stood at R$ 249.025 billion annually. Within this, the consumer finance area is a significant driver, with its loan financing growing 12.6% year-on-year to reach R$ 89.008 billion. The focus here is on digital engagement, as the bank saw a 43% year-on-year growth in Consumer Finance fees, achieving a high Net Promoter Score (NPS) of 90 in that area.

Small and Medium-sized Enterprises (SMEs)

SMEs are explicitly a key growth segment, and the numbers show it. The loan portfolio dedicated to SMEs increased by 13% year-on-year, totaling R$ 81.675 billion in Q3 2025. To be fair, the delinquency rate for legal entities (Pessoa Jurídica) did tick up to 2.1% (90-day NPL), driven by smaller companies where the rate hit 5.1%. Still, Santander was recognized as the 'Best Bank for SMEs' in Latin America.

Corporate and Institutional Clients

This segment is handled by the Corporate & Investment Banking (CIB) business, which offers global products to corporate and institutional customers. While specific lending figures for only the largest corporations aren't isolated from the SME data, the overall loan book growth reflects activity across commercial banking. The bank is a top 3 player in Brazil for lending, deposits, and mutual funds.

Microentrepreneurs (Prospera Unit)

The Prospera Microcrédito programme focuses on financial inclusion for microentrepreneurs. As of a recent report, Prospera maintained an active portfolio of over R$ 3.3 billion, serving 1.1 million active clients. The program has a wide footprint, operating in over 1,700 municipalities. Historically, 68% of the programme's portfolio comprised loans to women.

Here's a quick look at the loan book composition as of Q3 2025:

Segment	Loan Portfolio Amount (R$ Billion)	Year-on-Year Growth
Pessoas Físicas (Individuals - Largest Segment)	249.025	-0.7%
Financiamento ao Consumo (Consumer Finance)	89.008	12.6%
Pequenas e Médias Empresas (SMEs)	81.675	13%
Total Carteira de Crédito (Expanded Loan Book)	688.801	3.8%

Finance: draft the next section on Value Propositions by Tuesday.

Banco Santander (Brasil) S.A. (BSBR) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving Banco Santander (Brasil) S.A.'s operations as of late 2025. These are the necessary outflows to keep the lights on and the digital engines running.

Loan Loss Provisions: The macroeconomic climate in Brazil has kept credit costs elevated, even with selective lending. Managerial provisions for loan losses totaled R$ 6,524 million in the third quarter of 2025. While this represented a slight quarterly decrease of 4.9%, the year-over-year comparison showed an increase of 10.9%, directly attributed to the macroeconomic scenario and regulatory implementation of CMN Resolution No. 4,966/21. The cost of risk for the period settled at 3.86%, which was virtually stable quarter-over-quarter but marked an increase of 0.2 p.p. year-over-year. Asset quality signals were mixed, with the over-90 day Non-Performing Loan (NPL) ratio rising to 3.4%.

Personnel and administrative costs: Expense management remains a key focus area for Banco Santander (Brasil) S.A. The disciplined approach to costs resulted in an efficiency ratio of 37.5% in Q3 2025. This performance reflects an improvement of about 140 basis points year-over-year, showing that operational leverage is being gained despite inflationary pressures. Keeping administrative overhead tight helps offset other rising costs.

Technology investment: The push for digital transformation, especially through the One app and AI integration, requires significant, often fixed, capital outlay. For instance, a Master Agreement signed in August 2025 for IT services, including network infrastructure management, was valued at R$163,458,335 for the full year 2025. This follows a reported 30% increase in technological investments compared to previous years, underscoring the commitment to building out digital and AI infrastructure. This investment is strategic for improving efficiency and customer engagement.

Cost of funding: The prevailing high Selic interest rate environment continues to pressure the cost of funds. As of July 2025, the Selic rate was at 15%, which directly impacts funding costs and overall financial operations. This pressure was evident in the Net Interest Income (NII) figures, which saw a decline in the market NII component due to the carryover cost associated with these higher rates. However, the bank managed to widen spreads, with Client NII growing to R$ 16.556 billion in Q3 2025, up 11.1% year-over-year, as the funding mix shifted positively toward the individual segment, suggesting a more balanced and cost-effective structure overall.

Here's a quick look at some of the key cost and efficiency metrics from the Q3 2025 reporting period:

Cost/Efficiency Metric	Amount/Value	Period/Context
Efficiency Ratio	37.5%	Q3 2025
Managerial Provisions for Loan Losses	R$ 6,524 million	Q3 2025
Cost of Risk	3.86%	Q3 2025
Over-90 day NPL Ratio	3.4%	Q3 2025
IT Services Agreement Value	R$163,458,335	2025 Estimate
Year-over-Year Provision Increase	10.9%	vs. Q3 2024

You'll note the tension between managing administrative costs tightly and the necessary, high fixed costs for technology modernization. It's a balancing act that defines much of the bank's current expense strategy.

• Cost control improved efficiency by 140 basis points YoY.
• Provisions increased 10.9% YoY due to macro factors.
• The Selic rate environment directly impacted market NII carryover costs.
• Technology investment for 2025 is anchored by a specific agreement of over R$163 million.

Finance: draft 13-week cash view by Friday.

Banco Santander (Brasil) S.A. (BSBR) - Canvas Business Model: Revenue Streams

You're looking at how Banco Santander (Brasil) S.A. (BSBR) actually brings in the money as of late 2025. It's all about the spread between what they pay for funds and what they earn on loans, plus the fees that keep rolling in, even when the macro picture is a bit bumpy.

Net Interest Income (NII): Primary revenue source from lending activities.

The core engine here is the Net Interest Income, but you've got to look past the headline total. Total NII for the third quarter of 2025 was R$ 15.208 billion, which was actually down a hair, about 0.1% year-over-year. But that total masks a real story of strength in the core business. Client NII-that's the good stuff from your actual lending book-climbed to R$ 16.556 billion, showing a solid 11.1% jump year-over-year, helped by wider spreads. That's the franchise working right. The drag, as you can see, came from the market side of things.

Here's a quick look at the main interest and fee drivers from Q3 2025:

Revenue Component	Q3 2025 Amount (R$ Billion)	Quarter-over-Quarter Change	Year-over-Year Change
Total Net Interest Income (NII)	15.208	-1.2%	-0.1%
Client Net Interest Income (NII)	16.556	+2.7%	+11.1%
Fee and Commission Income	5.552	+6.7%	+4.1%

Fee and Commission Income: Resilient growth, reaching R$ 5.5 billion in Q3 2025.

Fee income is definitely showing resilience. For Q3 2025, it hit R$ 5.552 billion. That's a 6.7% increase from the previous quarter and a 4.1% increase compared to the same time last year. They noted a very good diversification across the different fee line items, so no single area is carrying all the weight. It's a healthy sign of transaction volumes picking up across the customer base.

Credit products: Interest and fees from cards, consumer finance, and real estate loans.

The growth in the loan book is what fuels that strong Client NII. The expanded loan portfolio reached R$ 688.801 billion by the end of Q3 2025, up 3.8% year-on-year. You can see where that growth is concentrated, which is important for understanding future risk and return profiles. The key drivers in the loan book growth year-on-year were:

• Cards: 14.5% growth.
• Financing to consumption: 12.6% growth.
• SMEs: 12.4% growth.

Also, on the fee side specifically related to credit, Consumer Finance fees saw a massive 43% year-on-year growth. That's a big number to watch.

Insurance and Asset Management: Fees from selling third-party and proprietary products.

Banco Santander (Brasil) S.A. (BSBR) definitely generates revenue from its insurance and asset management arms, collecting fees for distributing both proprietary funds and products from third parties. While the overall fee income is strong, the specific breakdown for Q3 2025 for this segment isn't explicitly detailed in the top-line disclosures I have access to, but it contributes to the overall fee pool.

Treasury and Market Operations: Income from trading and market-making.

This is the part that can be volatile, and in Q3 2025, it was a headwind. Income from Treasury and Market Operations, specifically the Market NII component, was negative at -R$ 1.348 billion. This negative result is what pulled the Total NII down slightly, even as the core Client NII was up significantly. It shows the bank is managing market exposure, but that segment didn't contribute positively to the overall revenue this quarter.

Finance: Draft a sensitivity analysis on the impact of a 50 basis point shift in the Selic rate on Client NII for Q4 2025 by next Tuesday.