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Banco Santander, S.A. vs Lloyds Banking Group: SAN and LYG compared
Banco Santander, S.A. is the larger company: $14.3B of revenue in its latest quarter (Q3 2025) against $5.5B for Lloyds Banking Group (Q3 2026). Lloyds Banking Group is more profitable, with an operating margin of 42.7% against 32.5%.
Where the money goes: SAN and LYG
Banco Santander, S.A. (SAN) · Q3 2025
Banco Santander, S.A., Q3 2025: revenue $14.3B, operating margin 32.5%, net earnings $3.5B. The chart follows the revenue to costs, profit and cash.
Lloyds Banking Group (LYG) · Q3 2026
Lloyds Banking Group, Q3 2026: revenue $5.5B (+12% year over year), operating margin 42.7%, net earnings $1.6B. The chart follows the revenue to costs, profit and cash.
| Banco Santander, S.A. (SAN) | Lloyds Banking Group (LYG) | |
|---|---|---|
| Latest quarter | Q3 2025 | Q3 2026 |
| Revenue | $14.3B | $5.5B |
| Revenue growth, Y/Y | — | +12% |
| Operating margin | 32.5% | 42.7% |
| Net earnings | $3.5B | $1.6B |
| Net margin | 24.5% | 29.2% |
Where the revenue comes from
Banco Santander, S.A.
- Spain: $5.5B (38%)
- US: $4.2B (30%)
- Poland: $2.1B (15%)
- Chile: $1.3B (9%)
Questions
Which is bigger, Banco Santander, S.A. or Lloyds Banking Group?
Banco Santander, S.A. is the larger company: $14.3B of revenue in its latest quarter (Q3 2025) against $5.5B for Lloyds Banking Group (Q3 2026).
Is Banco Santander, S.A. or Lloyds Banking Group growing faster?
Lloyds Banking Group is more profitable, with an operating margin of 42.7% against 32.5%.
More: Banco Santander, S.A. earnings · how Banco Santander, S.A. makes money · Lloyds Banking Group earnings · how Lloyds Banking Group makes money
From the companies' latest 10-Q, 10-K or earnings release (6-K filed Oct 29, 2025; 6-K filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.