Overview
- Santander surpassed Inditex in session market value on Friday, June 19, 2026, reaching about €175.6 billion while Inditex was near €174.5 billion.
- The bank's strong first-quarter result reported a net profit of €5,455m, a 60% year-on-year increase that includes a €1,895m gain from the January sale of its Polish unit.
- Rising interest rates have widened banks' net interest margins, which investors have rewarded with higher valuations across the Spanish banking sector.
- Santander shares were up modestly that day to €11.93, reflecting roughly a 20% gain year-to-date, but the market-cap ranking is based on session prices and can change with trading.
- The shift ends Inditex's run as Spain's largest listed company since 2018 and signals a market rotation toward financial stocks that could affect where investors put money and how retail firms are valued.