Sabadell Q1 profit misses estimates as costs rise
Sabadell reported a first quarter profit of 347 million euros, missing estimates as costs rose and income fell. The bank is now pursuing a standalone strategy.
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BANCO DE SABADELL SA reported a first-quarter net profit of 347 million euros, missing the 424 million euro average analyst estimate. The results in Spain follow a 13.4% rise in costs and a 3.5% drop in net interest income. Investors are assessing Sabadell’s standalone viability after selling its United Kingdom unit and surviving a failed takeover bid.
