Banco Santander (Brasil) S.A. (BSBR): Marketing Mix Analysis [Dec-2025 Updated]

You're trying to map out exactly where the Brazilian banking giant stands heading into 2026, and frankly, looking at their latest moves through the four P's-Product, Place, Promotion, and Price-is the fastest way to get a clear picture. After two decades analyzing these behemoths, I can tell you their strategy is a tightrope walk: balancing a massive physical footprint with a digital push where over 90% of transactions now happen on the mobile app. We'll break down how their specialized credit for agribusiness and SMEs, combined with aggressive digital pricing, is shaping their competitive edge right now. Dive in below to see the precise levers Banco Santander (Brasil) S.A. is pulling.

Banco Santander (Brasil) S.A. (BSBR) - Marketing Mix: Product

You're looking at the core offerings of Banco Santander (Brasil) S.A. (BSBR) as of late 2025. The product strategy here is about breadth-being a full-service provider-while aggressively pushing digital adoption and targeting specific, profitable niches within the credit space.

Full-service banking: retail, corporate, and investment services.

Banco Santander (Brasil) S.A. is structured to cover the entire financial spectrum. It functions as a multiple bank, meaning its operations span several core areas. This diversification is key to its scale; as of September 30, 2025, its total assets stood at $231.955B.

The product suite includes:

• Retail banking services for individuals.
• Corporate banking solutions for businesses.
• Investment banking activities.
• Operations in foreign exchange portfolios.

Furthermore, through its controlled entities, Banco Santander (Brasil) S.A. extends its product reach into specialized areas like payment institution services, securities brokerage, consumer financing, and benefits management.

Strong focus on digital account opening and mobile app features.

The bank has clearly prioritized digital interaction. In 2024, a significant 92% of all transactions were completed through digital channels. This focus culminated in the launch of the 'One App' in Brazil on September 10, 2025, which is positioned as a hyper-personalized, omnichannel mobile banking platform. This digital push aligns with the broader market trend, where, as of May 2025, over 94% of Brazilian adults have access to a bank account. To be fair, in this competitive landscape, customers juggle an average of five to six current accounts and three active credit cards, so convenience is non-negotiable.

Credit card portfolio expansion, targeting high-income segments.

Credit products are a major focus, with the Cards segment showing strong profitability. In Q1 2025, the Return on Tangible Equity (RoTE) for the Cards division was 19.2% (post-AT1). While the overall loan book growth was deliberately kept low at 1.5% YoY in FY25 year-to-date to manage risk in a tightening cycle, the allocation within the book is shifting. Management has explicitly stated a focus on high-income individuals for new credit card issuances. Premium card offerings reflect this targeting, with some cards showing annual fees around R$ 2,000 or R$ 4,000, often requiring monthly spending above R$ 30,000 or investments exceeding R$ 5 million for fee waivers.

Specialized credit lines for agribusiness (Agro) and SMEs.

Within the loan book, specific segments are seeing faster growth, indicating a strategic product push despite overall balance sheet caution. SME lending and consumer finance are leading this growth, up 11% YoY and 16% YoY, respectively. The bank has also reinforced its commitment to agribusiness, focusing on financing businesses that promote sustainable production practices. However, this higher-risk lending comes with trade-offs; the Non-Performing Loan (NPL) rate for SMEs is nearly 10 times that of the corporate portfolio. The 15-90 day NPL ratio for SMEs rose from 4.3% (annualized) in Q2 2024 to 5.0% in Q2 2025.

Here's a quick look at the performance and focus areas within the credit portfolio as of mid-2025:

Insurance and pension products for cross-selling opportunities.

The product strategy is rounded out by insurance and pension offerings managed through controlled companies, creating cross-selling avenues. The bank operates in the insurance brokerage and private pension markets. A related initiative, Prospera Santander Microfinance, supports financial inclusion, having amassed a loan portfolio of R$ 3.3 billion and serving 1.1 million active clients. This shows an effort to embed financial services across different customer life stages and needs.

Banco Santander (Brasil) S.A. (BSBR) - Marketing Mix: Place

You're looking at how Banco Santander (Brasil) S.A. (BSBR) gets its services to customers in late 2025. The distribution strategy is clearly weighted toward digital, but the physical footprint remains a key differentiator, albeit one that's actively being streamlined.

The physical presence is characterized by a network that is actively consolidating, reflecting the broader industry shift. As of the period ending June 2025, the bank closed 561 service units in one year, with 159 of those closures occurring in the last quarter alone. This shows a definite move away from the traditional branch model. Still, the bank maintains a physical footprint, which is crucial for certain high-touch services and trust-building. For context on the physical scale, a report referencing Q1 2025 data showed a network that included 7,910 ATMs as of March 2025, down from 8,011 in December 2024. Also, for specialized services like currency exchange, the bank counts on over 200 branches across 13 Brazilian states.

The digital channels are the primary engine for customer interaction. In 2024, 92% of all transactions were completed through digital channels, underscoring the dominance of the mobile and internet banking platforms. This aligns with the national trend, as a May 2025 survey indicated that over 94% of adults in Brazil now have access to a bank account. The bank manages a massive base of active cards, reporting over 16 million debit cards in Brazil as of Q1 2025.

The Santander Way app serves as the central digital hub. It is the interface for managing card features, viewing statements, and executing transfers like Pix and TED. The scale of this digital engagement is significant, with the app supporting services that range from opening a new account to accessing the Shopping Santander marketplace.

The distribution network is augmented by self-service options and strategic alliances. Customers use ATMs and self-service terminals for immediate cash access and basic operations. Furthermore, Banco Santander (Brasil) S.A. utilizes a multichannel distribution network that includes partner portals, indicating ongoing strategic partnerships, though specific fintech partnership numbers aren't public.

Here's a quick look at the scale of the digital vs. physical touchpoints based on the latest available figures:

The bank's digital adoption is further supported by the fact that customers in Brazil hold an average of between five and six current accounts and three active credit cards, making the primary app interface critical for wallet share.

• Mobile app and internet banking drive the vast majority of transaction volume.
• The bank closed 561 service units in the year leading up to June 2025.
• The ATM network saw a reduction from 8,011 in December 2024 to 7,910 by March 2025.
• Over 94% of adults in Brazil have access to a bank account as of May 2025.
• The Santander Way app facilitates card management and access to the Esfera points program.

Banco Santander (Brasil) S.A. (BSBR) - Marketing Mix: Promotion

The promotional activities for Banco Santander (Brasil) S.A. are heavily integrated with its digital transformation and sustainability commitments, aiming for customer preference and loyalty across its multi-channel platform.

Heavy investment in digital marketing and social media campaigns

The operational success of digital engagement is evident, with 92% of transactions conducted through digital channels as of the first half of 2025. While specific 2025 marketing spend is not publicly itemized here, the bank's strategic priority is to increase customer preference through targeted, simple, digital, and innovative products and services. Fee income, which often reflects the success of digitally driven product uptake, reached R$ 5.5 billion in the third quarter of 2025.

The bank actively posts about new launches, campaigns, and services on its social media platforms, including awareness posts and videos about its brand.

Loyalty programs like Esfera to drive card usage and retention

The Esfera loyalty program is central to driving card usage, being open and free to join. Cardholders accumulate points on eligible debit or credit card purchases, which can be redeemed for travel, products, and experiences. Discounts of up to 50% are available at Esfera partners. The program structure includes tiered membership clubs, such as the 'Pro' club, which costs R$ 3.90 per month and awards 1,000 points. The top-tier 'Exclusive' club allows members to purchase up to 1,250,000 points.

Sponsorships of major cultural and sporting events for brand visibility

Banco Santander (Brasil) S.A. leverages major global and local sponsorships to enhance brand visibility. Starting in 2025, Santander is the official bank sponsor of Formula 1 under a multi-year agreement. Formula 1 attracted approximately 1.35 billion viewers in 2023, with 60% of those viewers in Santander's key markets, including Brazil. The bank also maintains local sponsorships, including cultural initiatives in Brazil and multi-year partnerships for top League of Legends competitions in Latin America (LLA).

• Official Bank Sponsor of Formula 1 starting 2025.
• Sponsorship visibility reached approximately 1.35 billion viewers globally in 2023.
• Main sponsor of Liga Latinoamérica (LLA) for League of Legends.
• Involvement in local cultural initiatives in Brazil.

Targeted offers via the mobile app based on customer data analytics

A core strategic priority is to increase customer preference by offering targeted, simple, digital, and innovative products and services through a multi-channel platform, which inherently relies on customer data analytics for personalization. The expanded loan portfolio, a key metric reflecting product uptake, reached R$ 688.8 billion by the end of the third quarter of 2025.

Focus on sustainability and ESG initiatives in public relations

Public relations efforts strongly feature the bank's ESG agenda, which permeates its business from micro-entrepreneur programs to corporate work. The bank surpassed R$ 50 billion in sustainable businesses facilitated in the year prior to its 2025 targets announcement. Key ESG targets set for 2025 include powering 100% of operations with renewable energy. Furthermore, the bank aims to have 40% of its leadership roles held by women and 40% of the organization comprised of black individuals by 2025. In social development, the bank is working toward a target of 5 million people financially included by 2025, having already included 4.3 million since 2023.

• Sustainable businesses facilitated surpassed R$ 50 billion (prior year figure).
• Target: 100% of operations powered by renewable energy by 2025.
• Target: 40% of leadership roles held by women by 2025.
• Target: 5 million people financially included by 2025.
• Credit disbursed to underbanked entrepreneurs in Latin America: EUR 1.27 billion.

Banco Santander (Brasil) S.A. (BSBR) - Marketing Mix: Price

The pricing structure for Banco Santander (Brasil) S.A. (BSBR) reflects a strategy balancing competitive offers in high-volume retail segments with premium pricing and relationship-based terms in corporate and high-value retail segments. This is evidenced by recent promotional activity and overall fee income performance.

Competitive interest rates on mortgages and payroll loans are influenced by the prevailing economic environment, with Brazilian interest rates noted as remaining high as of Q2 2025. While specific late-2025 competitive mortgage rates aren't published here, historical data for a segment of this product line shows a pre-fixed monthly lending rate for Individuals: Credit Private Payroll as low as 2.480 % per Month in July 2019, though this is not a current rate.

For current accounts, the strategy involves a tiered approach, often waiving fees for higher-value clients. While specific Brazilian current account fee tiers for 2025 are not detailed, US-based Santander Select Checking indicates a $25 monthly fee waived with a minimum combined balance of $25,000 in bank deposits and eligible investments. The Simply Right® Checking account shows a $25 monthly fee waived by any deposit, withdrawal, transfer, or payment posted during the calendar month.

Corporate lending pricing is variable, tied to risk and relationship depth. The bank's overall Cost of Risk for Q1 2025 stood at 1.14%, with a target Cost of Risk of approximately c. 1.15% for the full year 2025. The Return on Equity (RoTE) for the Cards business in Q1 2025 was 19.2%, indicating strong returns in that specific lending area.

Aggressive promotional rates for new credit card sign-ups are a clear tactic. For instance, the 'Bateu Ganhou' promotion running from September 1 to November 30, 2025, offered cardholders up to 6.4 Esfera points per dollar spent or up to 1% cashback, with the cashback limited to R$ 1,000 per month for eligible cards.

Interchange fees on card transactions are a significant revenue component. Net fee income for Banco Santander (Brasil) S.A. (BSBR) showed robust growth of +10% in Q1 2025, which was explicitly driven by interchange fees in Latin America. The bank's Q2 2025 net income reached 3.7 billion reais, demonstrating the financial impact of its fee-based revenue streams.

The following table summarizes key pricing-related figures and promotional metrics available for late 2025 or the most recent reporting periods:

The bank's pricing in the cards segment is actively managed through promotions to drive transaction volume, which directly feeds the interchange fee revenue stream. For example, the 'Temporada de Férias' promotion offered 100% cashback on IOF on international purchases, capped at R$ 1,000 per CPF for select clients.

For high-value retail clients, fee structures are designed to encourage higher balances. The following list shows examples of fee waivers tied to client status or activity:

• $0 Paper Statement Fee for Santander Select Checking.
• $0 Monthly Fee for Santander Savings with any personal checking account.
• $0 Monthly Fee for Santander Savings if owner is under 26 years of age.
• $0 Monthly Fee for Simply Right® Checking with monthly account activity.

The overall revenue generation from fees is substantial, as indicated by the +3.6% growth in Net Fee Income for the first nine months of 2025 (constant euros) compared to the same period in 2024, totaling 9,666 million euros in the first nine months of 2025 for the entire Group, with Latin America being a key driver.