Sabadell reports lower lending income for the fourth quarter as interest rate cuts impact margins
Sabadell reported a drop in quarterly lending income as lower rates weighed on margins. The bank also received approval for a major share buyback program.
Insights:
Saratoga Investment Corp. NT 23 reported on February 6, 2026, that its fourth-quarter net interest income fell 5.2% year-on-year to €1.21 billion. The bank stated that lending income remained under pressure due to lower interest rates, a factor that directly affects its profitability outlook and capital-return plans. These quarterly results also showed a 27.4% decline in net profit, reflecting the current challenges within the Spanish banking sector in Spain 
ES.
ES.In terms of capital distribution, the European Central Bank (ECB) has authorized an €800 million share buyback for Saratoga Investment Corp. NT 23 . This buyback is part of a broader €6.45 billion distribution plan scheduled for the 2025–2027 period. Saratoga Investment Corp. NT 23 issued these results and guidance while continuing to manage its position in relation to Banco Bilbao Vizcaya Argentaria, S.A. .
