Santander Brasil filed exchange documents for Banco Santander Brasil stock

Published on 10/08/2026 at 19:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

A Form F-4 and B3 request were included. Banco Santander Brasil stock costs EUR 5.18 on October 8, 2026 versus EUR 5.25, down 1.33 percent.

Key points in brief

Banco Santander Brasil advanced exchange-offer filings on September 21, 2026, including a Form F-4 and a B3 listing request.
HSBC had cut its target from BRL 36.00 to BRL 31.00 and downgraded the stock to Hold on September 15, 2026.
BSBR was at EUR 5.18 at Lang & Schwarz on October 8, 2026, down 1.33 percent from EUR 5.25.
Santander Brasil reported recurring net income of BRL 3.0 billion and return on average equity of 12.50 percent for the second quarter of 2026.

BSBR, US05967A1079, Illustration mit AI erstellt.

Santander Brasil stock was trading at EUR 5.18 at Lang & Schwarz on October 8, 2026 at 7:29 p.m. CEST, down 1.33 percent versus the prior close of EUR 5.25. On September 21, 2026, the bank had advanced its voluntary exchange-offer process through regulatory filings, including a Form F-4 with the U.S. SEC and a request to create and list Brazilian Depositary Receipts on B3, as The Globe and Mail reported.

Three filings shaped the timeline

On July 29, 2026, Banco Santander Brasil reported recurring net income of BRL 3.0 billion and return on average equity of 12.50 percent for the second quarter of 2026, according to Investing.com. The same report said loan-loss provisions included BRL 700.0 million in one-off items.

On September 15, 2026, HSBC downgraded Banco Santander Brasil from Buy to Hold and cut its price target from BRL 36.00 to BRL 31.00, citing expected pressure on liquidity as the exchange process advances, Investing.com reported. On September 21, 2026, the new filings added the U.S. and Brazilian regulatory steps to that process, according to The Globe and Mail.

What does the exchange process mean for liquidity?

The central market issue is the future trading structure, not only the exchange ratio. HSBC said the parent group's transaction could reduce liquidity to minimal levels and eliminate the ADR program, while Banco Santander Brasil may continue to trade in Brazil under SANB11, according to Investing.com. That creates a clear counterweight to the second-quarter earnings picture: recurring net income reached BRL 3.0 billion, but the reported BRL 700.0 million one-off provision item and the proposed listing changes complicate comparisons with earlier periods.

October 28 results date

Banco Santander Brasil is scheduled to release its third-quarter 2026 BR GAAP results on October 28, 2026, at 10:00 a.m. Sao Paulo time and 9:00 a.m. New York time, according to the bank's Santander RI calendar. The release will provide the next reported test of profitability after the second-quarter return on average equity of 12.50 percent.

After-hours price falls 1.33 percent

On the NYSE, BSBR was last at USD 5.83 on October 8, 2026 at 1:32 p.m. EDT during regular trading. Its 52-week range was USD 4.94 to USD 7.32, while the Lang & Schwarz quote was EUR 5.18 after the Xetra session and below the prior close of EUR 5.25.

The further course of trading is shown by the continuously updated real-time quote of Banco Santander Brasil stock.