Banco Santander S.A. plans to merge its wholly-owned subsidiaries, Return Capital Gestão de Ativos e Participações S.A. and Santander Leasing S.A., on November 28, 2025, aiming to streamline operations and reduce costs. The spun-off portion from Return's assets is valued at R$8.46 billion, while the implementation costs for the merger are estimated to be around R$450,000.