Sabadell Q3 Net Profit Rises 18 Percent
Banco Sabadell reported an 18 percent increase in third quarter underlying net profit, beating analyst expectations. The growth was driven by higher lending income following a shift to a standalone strategy.
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BANCO DE SABADELL SA posted an 18% rise in underlying net profit to €405 million ($452 million) during the July to September period, driven by higher lending income. The result topped the €375 million average estimate from analysts polled by Reuters. Stronger loan margins helped the fourth-largest lender in Spain by market value offset higher deposit payout costs.
