• Banco Santander, S.A average return on tangible equity for 2023 was 11.84, a 3.41% increase from 2022.
• Banco Santander, S.A average return on tangible equity for 2022 was 11.45, a 34.55% increase from 2021.
• Banco Santander, S.A average return on tangible equity for 2021 was 8.51, a 34.44% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.