Banco Santander, S.A.

SAN: Is Banco Santander, S.A. Halal?

Banco Santander, S.A.

NYSEFinancial ServicesES

$13.55

-0.51%

Market Cap: 198.9B

Compliance Status

Not Halal

Screened on Jul 20, 2026 · AAOIFI Standard 21

F

Non-Compliant

0Score

Is Banco Santander, S.A. (SAN) halal? Not Halal. Based on AAOIFI screening, Banco Santander, S.A. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Business activity

Involved in prohibited business activities.

Failed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

249.7% of 30.0% limit

What this means for you

Most scholars advise not holding SAN

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Banco Santander, S.A.

Banco Santander, S.A. operates as a global financial institution, delivering a comprehensive suite of retail and commercial banking products and services. It caters to a diverse clientele, including individual consumers, small and medium-sized enterprises (SMEs), and major corporations across the world. The bank's extensive offerings encompass various deposit options, such as checking, savings, and fixed-term accounts. Its lending solutions span mortgages, consumer finance, syndicated corporate loans, and structured financing. Additionally, Santander provides critical business services like cash management, export and agency finance, trade and working capital solutions, and corporate finance, alongside a range of insurance products. The institution further specializes in cash, asset, and wealth management, as well as private banking services. Its operations also extend to corporate banking, treasury functions, risk hedging, foreign trade services, confirming, custody, and investment banking. These services are facilitated by its expansive network of 9,879 branches. Established in 1856 and based in Madrid, Spain, the company adopted its current name, Banco Santander, S.A., in June 2007, having previously been known as Banco Santander Central Hispano S.A.

Sector: Financial Services · Industry: Banks - Diversified

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 20, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

  • Prohibited industry: Banks - Diversified

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: FY 2025Data source: FMP

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

SPDR Gold Shares
GLDA+

SPDR Gold Shares

$368.41

+0.17%

iShares Silver Trust
SLVA+

iShares Silver Trust

$50.78

+0.47%

Sprott Physical Silver Trust
PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

Sprott Physical Gold Trust
PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

AllianceBernstein Holding L.P.
ABA+

AllianceBernstein Holding L.P.

$36.03

-1.13%

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Frequently Asked Questions

Is Banco Santander, S.A. (SAN) halal to invest in?
Banco Santander, S.A. (SAN) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.
Why did Banco Santander, S.A. get a F compliance rating?
Banco Santander, S.A. (SAN) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 249.7% (limit 30%); interest-bearing deposits of 160.0% (limit 30%); prohibited income of 84.83% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change Banco Santander, S.A.'s Shariah verdict?
Banco Santander, S.A.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.
How often is Banco Santander, S.A. re-screened for Shariah compliance?
Banco Santander, S.A. (SAN) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 20, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.