Santander Targets More Than €1 Billion in AI-Generated Value by 2028 as Four of Spain's Largest Banks Run Agent Programs

Santander's AI-first strategy aims to generate more than €1 billion in business value between 2026 and 2028, combining new revenue sources with cost reduction, after the bank reported €35 million in the first quarter alone.

The bank said in June that it expects the figure to keep growing and to pass €200 million by the end of the year. Santander also says 40% of its code is now developed with AI.

Spain’s banks move on the same axis

Its peers are moving on the same axis. More than 100,000 BBVA employees use AI. Through its Akira project, the bank is adding AI and agent capabilities across the software development cycle to increase execution capacity, cut analysis and build times and improve the quality of deliveries. CaixaBank launched its GenIAI program in 2023 and about six months ago introduced an agent system that combines conversational AI with human oversight in digital contracting. The agent accompanies customers through pre-approved loans in the bank's app, answering questions and simulating terms. At Bankinter, CEO Gloria Ortiz leads an "AI First" strategy aimed at maximizing return on investment, and employees have built 7,000 AI agents of their own, with the most productive now being selected.

Four of Spain's largest banks are now running agent programs with targets and owners, not pilots waiting on a business case.

“Four of Spain’s largest banks are now running agent programs with targets and owners, not pilots waiting on a business case.”