Banco Santander (Brasil) S.A.

6-K 1 a6k-2t26.htm 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

For the month of September, 2026

Commission File Number: 001-34476

BANCO SANTANDER (BRASIL) S.A.

(Exact name of registrant as specified in its charter)

Avenida Presidente Juscelino Kubitschek, 2041 and 2235

Bloco A – Vila Olimpia

São Paulo, SP 04543-011

Federative Republic of Brazil

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F X Form 40-F _______

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

Dear Shareholders:

We present the Performance Commentary on the Condensed Consolidated Financial Statements of Banco Santander (Brasil) S.A. (Banco Santander or the Bank) for the period ended June 30, 2026, the Condensed Consolidated Financial Statements have been prepared in accordance with IAS 34 Interim Financial Reporting.

The Condensed Consolidated Financial Statements prepared in accordance with the international accounting standard issued by the International Accounting Standards Board (IASB) relating to the semester that ended in June 30, 2026, will be published on July 29, 2026, at www.santander.com.br/ri.

Economic Situation

The economic performance was highlighted by the following themes:

v Surprising Resilience of the U.S. Economy

The U.S. economy once again delivered a positive surprise, demonstrating resilience even amid higher oil prices and rising energy costs. The labor market remains the main highlight, with average job creation exceeding 100,000 positions in recent months, above the 75,000 recorded in Q1 2026 and well above the average of 25,000 observed in 2025. The combination of solid economic activity and persistent inflationary pressures has led the Federal Reserve to adopt a more cautious stance. Committee projections remain divided between further interest rate hikes and some degree of monetary easing, reflecting the high level of uncertainty surrounding the outlook, now further reinforced by Kevin Warsh’s appointment as Chair of the institution..

v Oil Remains at the Center of Global Macroeconomic Dynamics

The main driver of the second quarter of 2026 continued to be the strong volatility in oil prices. After reaching approximately USD 120 per barrel between late April and early May, Brent crude declined significantly, ending June at around USD 73 per barrel, essentially returning to the levels observed before the escalation of the conflict in the Middle East. This movement was driven primarily by developments in geopolitical tensions and the flow of oil through the Strait of Hormuz. As prices normalized, concerns about additional short-term inflationary impacts stemming from energy costs eased. Nevertheless, the outlook remains surrounded by uncertainty. Although the conflict has lost momentum compared to previous months and there has been some progress in negotiations toward a peace agreement, substantial differences between the parties remain. As a result, the risk of further disruptions to oil supply continues to be present, keeping price volatility elevated and maintaining uncertainty regarding its potential effects on inflation and global economic growth..

v Central Banks Respond Cautiously.

In terms of monetary policy, the quarter was marked by increased caution among major central banks. The Federal Reserve kept its policy rate unchanged at its January and March meetings, maintaining a data-dependent stance in an environment where inflation remained above target. Throughout the quarter, the Fed began signaling a less favorable inflation outlook, with higher inflation projections and less conviction regarding a potential resumption of the rate-cutting cycle, particularly following the energy shock, which added further upside risks to the scenario. The European Central Bank also left interest rates unchanged and explicitly acknowledged that the escalation of the conflict in the Middle East is expected to put upward pressure on inflation in the short term through energy prices. Overall, the global environment remained in a wait-and-see mode, as the interest rate outlook became subject to greater uncertainty in the face of an adverse supply shock.

v Activity Remains Resilient, but Signs of Moderation Are Becoming More Visible.

The Brazilian economy continued to perform better than expected throughout Q2 2026, supported by household consumption, a still-dynamic labor market, and the lingering impact of income-support measures implemented at the beginning of the year. At the same time, more consistent evidence of a slowdown began to emerge in segments that are more sensitive to monetary policy, particularly in credit markets and in some leading economic activity indicators. The quarter’s overall performance reinforced the assessment that the economy is moving toward a gradual deceleration. In this context, our GDP growth forecast remains at 1.8% for 2026, and we now expect growth of 1.3% in 2027, still consistent with a healthy moderation of domestic demand over the relevant forecast horizon.

v Inflation Shows Improvement Again, but Expectations Remain Unanchored.

Q2 2026 began under the lingering effects of the oil price shock, which continued to put pressure on production costs. This impact, however, was partially offset by the appreciation of the Brazilian real, which helped limit the pass-through to domestic prices. Throughout the quarter, the gradual normalization of international oil prices reduced pressures on fuel, freight, and industrial goods, allowing for an improvement in current inflation dynamics. Despite this relief, inflation remained above target and expectations continued to be unanchored, reflecting the resilience of economic activity and uncertainties surrounding the fiscal environment. In this context, we maintain our assessment that convergence toward the target will remain gradual and will depend on restrictive monetary conditions being maintained for an extended period. Our IPCA inflation forecast stands at 5.0% for 2026 and 4.0% for 2027

v Copom Reinforces a Cautious Stance.

Throughout the quarter, the Central Bank maintained the monetary easing process but reinforced the message that room for additional rate cuts has become more limited. The combination of persistently elevated inflation expectations, still-expansionary fiscal policy, and tighter global financial conditions led Copom to adopt a more conservative communication regarding the Selic rate path. The prevailing assessment became that the cost of bringing inflation back to target has increased, requiring interest rates to remain elevated for longer. In our baseline scenario, we project the Selic rate to end 2026 at 13.75% and 2027 at 12.75%, within a more gradual easing cycle conditioned on the evolution of inflation and expectations, as well as the fiscal stance and the degree of spare capacity in the economy going forward.

The first half of 2026 was marked by the continued execution of our strategy, maintaining customer centricity as a fundamental element of value creation. We continued to strengthen our relationships with customers, expand revenue diversification, and make progress in building an increasingly solid, efficient and resilient operation. In terms of results, we closed the first half with recurring managerial net profit of R$ 6.8 billion in the period, down 9.6% compared to the same period of 2025, reflecting a macroeconomic environment characterized by higher household indebtedness and the persistence of elevated interest rates.

Total revenues reached R$ 41.9 billion in the period, up 0.6% compared to the first half of 2025. Results performance was mainly supported by the performance of customer-related businesses and the growth in service revenues, reinforcing the consistency of our business model and the quality of our business.

Client NII increased 2.2% in the first half, totaling R$ 32.6 billion, reflecting the 5.8% growth in our loan portfolio, especially consumer finance operations, which grew 15.3%, as well as operations with SMEs, which increased 11.4%. Market NII, in turn, recorded a negative result, mainly due to the negative sensitivity to rising interest rates and lower treasury results.

Fees increased 4.1% in the first half, reaching R$ 10.8 billion, with highlights including cards, up 8.1% YoY, insurance, up 9.3% YoY, and capital markets, up 17.4% YoY. The result demonstrates the growing contribution of service businesses to recurring revenue generation and reinforces our diversification strategy.

In terms of asset quality, the result from loan losses totaled R$ 14.0 billion in the first half of 2026, up 5.6% compared to the same period of the previous year. This performance reflects the persistence of a challenging macroeconomic environment, marked by elevated interest rates, requiring higher levels of provisioning in the period.

In expenses, we continued to make progress in productivity and operational efficiency, totaling R$ 13.2 billion in the first half, an increase of 1.7% compared to the same period in 2025. This growth remained below inflation in the period, demonstrating disciplined cost management and a continued focus on the efficient allocation of resources.

We remain committed to delivering sustainable long-term results, supported by a more diversified operation, disciplined capital and risk management, and a continuous focus on offering the best solutions and experiences to our customers.

Strategy and Rating Agencies

For information regarding the Bank's strategy and ratings with rating agencies, please see the Earnings Report available at www.santander.com.br/ri.

Corporate Governance

The corporate governance structure of Banco Santander (Brasil) S.A. is based on an integrated model of decision-making, supervision, and risk management, aligned with the best national and international governance practices. This structure is composed of the Executive Board and the Executive Committee, which includes the CEO, Senior Executive Vice Presidents, and Executive Vice Presidents, as well as the Board of Directors and its Advisory Committees, responsible for supporting the Board in the performance of its duties. The Advisory Committees are: Audit, Risk and Compliance, Sustainability, Compensation and Nomination, and Governance.

The Bank continuously seeks to strengthen the diversity, independence, and qualification of its management bodies. Currently, the Board of Directors has five women among its members and 45% independent directors, reflecting the Institution's commitment to plural, transparent corporate governance aligned with best market practices. In 2026, Banco Santander (Brasil) S.A. joined the CONFIA Program – the Brazilian Federal Revenue's Cooperative Tax Compliance Program, an initiative that promotes a relationship based on transparency, mutual trust, and continuous dialogue between the Tax Administration and large taxpayers. Admission to the program recognizes the maturity of the Institution's tax governance, fiscal risk management, and internal controls, reinforcing its commitment to high standards of compliance, ethics, transparency, and legal certainty. (Services and Information from Brazil)

The additional information required by Law No. 15,177/2025 will be disclosed in the Management Report, to be made available to shareholders on the date of the Ordinary General Meeting, pursuant to Article 133 of Law No. 6,404/1976.

Additional information regarding the corporate governance practices adopted by Banco Santander, as well as the composition, operation, and main decisions of the Board of Directors and its Advisory Committees, is available on the Investor Relations portal at www.santander.com.br/ri.

Internal Audit

Internal Audit reports directly to the Board of Directors and is overseen by the Audit Committee, acting permanently, independently, and objectively in relation to the other functions and units of the Organization. Its mission is to provide the Board of Directors and Senior Management with independent assurance on the quality and effectiveness of governance, risk management, and internal control processes, contributing to the protection of the Organization's value, solvency, sustainability, and reputation.

The Internal Audit function has a quality certification issued by the Institute of Internal Auditors (IIA), in recognition of its adherence to international standards and best practices of the profession.

To fulfill its duties and ensure adequate coverage of the risks inherent in Banco Santander's activities, Internal Audit uses methodologies and tools developed internally. Of particular note is the risk matrix, used in the planning process to prioritize the auditable universe based on criteria such as inherent risk, results of previous assessments, level of implementation of audit recommendations, and relevance of processes to the Organization. Work programs are reviewed periodically to reflect the evolving risk environment, regulatory changes, and transformations in the business environment.

In line with its oversight role, the Audit Committee recommended approval of the 2026 Annual Audit Plan and Annual Internal Audit Report, which were subsequently approved by the Board of Directors.

People

Banco Santander continues to strengthen its organizational culture, which seeks to contribute to the prosperity of people and businesses. Autonomy, proactivity, and innovation gain space, accelerate digital transformation, and enhance the personalized offering for the most diverse segments of society.

There are 47,327 employees, considering the entire Group, committed to the ambition of generating unique and personalized customer experiences, so that we are the main bank for each of our clients.

To this end, the bank continuously invests in creating an environment where leadership is a benchmark in the organization's values, an inclusive culture ensures that each professional feels recognized and engaged in building their career, health and well-being are central, and continuous learning serves the constant improvement of the customer journey and the evolution of each employee. Growth opportunities are democratized and within everyone's reach.

Sustainability

Sustainability has been integrated into Santander's business strategy for over 20 years and guides our actions in risk management, the development of financial solutions, and the generation of positive impact for clients, communities, and society.

During the semester, we maintained our focus on the areas where we have the greatest capacity to contribute: assessment and mitigation of social, environmental, and climate risks in credit granting; support for clients in the transition to a low-carbon economy; and promotion of initiatives in education, employability, entrepreneurship, and financial inclusion.

Our actions are concentrated on the most relevant issues for the business, considering impacts, risks, and opportunities, and are accompanied by global goals in priority areas such as decarbonization, financial inclusion, and inclusive culture. This agenda is supported by robust policies, controls, and governance structures, with the support of senior leadership.

At the end of 2Q26, we highlight the following results:

Sustainable business

v We facilitated R$ 24.7 billion in sustainable business, including green bond issuances, clean energy financing, and dedicated products such as CDC Solar and CDC Electric and Hybrid Vehicles, reaching R$ 57.8 billion in the sustainable credit portfolio¹, with 43% growth(YoY).

¹ Considers operations that fall within our Sustainable Finance and Investment Classification System (SFICS).

v We maintained market leadership in CBIOS (decarbonization credits) with a 38% market share.

v Prospera Santander Microfinance, which provides financial solutions to entrepreneurs, achieved a microcredit origination volume of R$ 2.4 billion. Its total portfolio grew 3.1% year over year (YoY), reaching R$ 3.3 billion, supported by a total customer base of 1.1 million clients.

In addition, Prospera launched Credit Life Insurance for microloan operations. The product ensures the full repayment of the outstanding loan balance in the event of the death of the borrower or members of a solidarity lending group, preventing the debt from being transferred to the remaining members and strengthening protection for microentrepreneurs.

v Four operations were disbursed by Santander under the Eco Invest Brasil program, a Federal Government initiative within the Ecological Transformation Plan aimed at mobilizing private investment for long-term sustainable projects in the country, focusing on attracting national and foreign capital, totaling R$ 1.6 billion. The resources support initiatives aimed at our clients' transition to a low-carbon economy and sustainable development, including projects such as the construction of a new corn ethanol plant, the replacement of fossil fuel boilers with industrial steam generation using biomass, the construction of a new pharmaceutical industrial unit with LEED certification (a global sustainability seal for buildings), and the modernization of the electrical grid, with the implementation of smart grids, loss reduction, and increased resilience of the electrical infrastructure;

v Santander maintained its leadership in financing electrified vehicles, with a market share of 53% in electric vehicles and 31% in hybrids

.

Social

During the last quarter, Social Integrado Santander strengthened its presence across 30 municipalities in the states of Pernambuco and Maranhão through initiatives focused on education, culture, entrepreneurship, and sports. These actions benefited more than 26,000 children and adolescents and provided training to over 1,500 educators.

Through the Pensar program, we carried out financial education initiatives in public high schools, engaging 52 volunteersand benefiting 207 students.

In Gravatá (PE), we hosted the National Meeting of Amigo de Valor and Parceiro do Idoso, our social technologies aimed at safeguarding the rights of vulnerable children, adolescents, and older adults. The event brought together more than 350 participants, including council members and teams from supported projects, for training focused on strengthening public policies and protection networks.

Education, employability and entrepreneurship

We held Santander Top España 2026, an international academic mobility program that this year received 138,000 applications and awarded 100 scholarships to students and faculty members from partner Brazilian universities for an educational experience at the University of Salamanca, Spain.

We also promoted Santander Financial Certifications 2026 – First Semester, a free training program aimed at individuals aged 18 and over seeking to enter or advance in the financial sector, offering preparation for the ANBIMA CPA, C-Pro I, and C-Pro R certifications. By June, the program had registered 114,000 applicants, awarded 6,000 training slots, and provided 600 vouchers for the ANBIMA certification exam.

In addition, we developed Santander X Training for Business – AI for SMEs, a program conducted in partnership with IE University and Google, offering free training in Artificial Intelligence applied to business. In this edition,388 scholarships were awarded.

We also carried out Acelera Tech AWS – Training for SMEs and Startups, a program developed in partnership with Amazon Web Services (AWS), which provided free training in technology, cloud computing, and digital transformation, supporting companies at different stages of maturity in adopting innovative business solutions. In this edition,329 scholarships were awarded to SMEs and 135 scholarships to startups, totaling 464 training scholarships.

Independent Audit

Banco Santander’s policy, including its controlled companies, regarding the engagement of services unrelated to the audit of the Financial Statements by its independent auditors, PricewaterhouseCoopers, is based on Brazilian and international auditing standards that preserve auditor independence. This framework establishes that: (i) the auditor must not audit its own work; (ii) the auditor must not perform management functions for its client; (iii) the auditor must not advocate for its client’s interests; and (iv) any services must be approved by the Bank’s Audit Committee.

In compliance with Brazilian Securities and Exchange Commission (CVM) Instruction No. 162/2022, Banco Santander informs that, during the six-month period ended June 30, 2026, PricewaterhouseCoopers did not provide any services unrelated to the independent audit of the Financial Statements of Banco Santander and its relevant controlled companies that could create a conflict of interest, impair independence, or affect the objectivity of its independent auditors. PricewaterhouseCoopers maintains procedures, policies, and controls designed to ensure its independence, including an assessment of all services provided, encompassing any engagement other than the independent audit of Banco Santander’s Financial Statements and those of its controlled companies. Such assessment is based on applicable regulations and accepted principles that safeguard auditor independence.

Acknowledgments

We thank our customers, shareholders, and employees for the trust and support that have driven us to this point, and which have enabled the continuation of our history of evolution and transformation, on the path to building the Best Consumer Company in Brazil.

(Approved at the Board of Directors Meeting of July 28, 2026).

Report on review of consolidated condensed

interim financial statements

To the Board of Directors and Stockholders

Banco Santander (Brasil) S.A.

Introduction

We have reviewed the accompanying consolidated condensed balance sheet of the Banco Santander (Brasil) S.A. (the "Bank") and its subsidiaries, at June 30, 2026 and the related consolidated condensed statements of income and comprehensive income for the quarter and six-month period then ended, and the consolidated condensed statements of changes in equity and cash flows for the six-month period then ended, and explanatory notes.

Management is responsible for the preparation and presentation of the consolidated condensed interim financial statements in accordance with the International Accounting Standard (IAS) 34 - Interim Financial Reporting, of the International Accounting Standards Board (IASB). Our responsibility is to express a conclusion on these condensed interim financial statements based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Reviews of Interim Financial Information (NBC TR 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently did not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated condensed financial statements referred to above are not prepared, in all material respects, in accordance with the International Accounting Standard (IAS) 34 - Interim Financial Reporting, of the International Accounting Standards Board (IASB).

Other matters - Consolidated Condensed statement of value added

The condensed financial statements referred to above include the consolidated condensed statement of value added for the six-month period ended June 30, 2026. This statement is the responsibility of the Bank's management and presented as supplementary information. This statement was subjected to review procedures performed together with the review of the condensed financial statements for the purpose of concluding whether it is reconciled with the condensed financial statements and accounting records, as applicable, and if its form and content are in accordance with the criteria defined in the accounting standard

CPC 09 - "Statement of Value Added". Based on our review, nothing has come to our attention that causes us to believe that this consolidated condensed statements of value added has not been prepared, in all material respects, in accordance with the criteria established in this accounting standard, and that it is consistent with the consolidated condensed financial statements taken as a whole.

São Paulo, July 29, 2026