Banco Sabadell posts 1.376 billion euro profit through September, down 1 percent

Banco Sabadell reported a net profit of 1.376 billion euros for January through September, down 1 percent compared with the same period in 2025, according to figures published with Spain's securities regulator CNMV. The result includes the contribution of British subsidiary TSB, which was part of the group for four months before its sale to Banco Santander in May.

Excluding TSB, the bank's profit rose to 1.297 billion euros, up 13 percent from 1.148 billion euros in the first nine months of 2025. Recurring profit through September was 1.096 billion euros, down 5.3 percent from a year earlier, though it has grown quarter by quarter since spring.

“The results show the strength of the business in Spain.”

The bank announced a cash interim dividend of 325 million euros, the second of the year, equivalent to 7 euro cents per share, to be paid on December 29. It had already paid an extraordinary dividend of 50 euro cents per share in May linked to the TSB sale.

A share buyback program launched in July worth 331 million euros remains under way, with about 57 million euros, or 17 percent of the total, still to be executed.

Banking business revenues, combining net interest income and commissions, reached 3.677 billion euros in the first nine months, up 0.1 percent from a year ago. Of that, 1.260 billion euros came in the third quarter, a 2.4 percent increase over the second quarter.

Net interest income totaled 2.694 billion euros from January to September, down 0.6 percent, while commissions reached 983 million euros, up 2.1 percent. The bank expects to close the year with an increase in net interest income.

The sale of TSB reduced the group's total assets by 18.5 percent over the year to 199.258 billion euros. The transaction generated capital gains of 322 million euros, offset partly by extraordinary costs such as an early retirement plan, leaving a net favorable balance of 201 million euros.