Sabadell Q1 net profit falls 29% to 347 million euros
Spain's Sabadell reported a 29% drop in Q1 net profit to 347 million euros. The result missed analyst estimates due to higher costs and lower lending income.
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BANCO DE SABADELL SA reported a 29% drop in first-quarter net profit to 347 million euros. The result missed the 424 million euro Reuters poll estimate and fell from 489 million euros in the previous year. Rising extraordinary costs and declining lending income are squeezing margins at the fourth-largest bank in Spain.
