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Sabadell's Q3 underlying net profit up 18%, supported by lending income

By Reuters News

MADRID, Oct 29 (Reuters) - Spain's Sabadell SABE.MC said on Thursday its third-quarter underlying net profit rose 18% from the same period in 2025, supported by higher lending income.

Spanish banks are mainly retail lenders and have historically benefited from variable-rate lending. Higher interest rates are starting to support margins on their loan books, although that is being partially offset by a repricing in deposits paid out to clients.

  • The country's fourth-largest bank by market value reported a net profit of €405 million ($452 million) in the July to September period.

  • Analysts polled by Reuters expected a net profit of €375 million.

  • The bank provided a pro forma excluding TSB in the third quarter of 2025 for the comparison, as TSB was part of the perimeter then.

  • Attributable reported net profit fell 2% when taking into account TSB in the same quarter last year.

  • The Spanish bank's strategy has shifted to a standalone approach after TSB's sale in May, and analysts are now watching whether Sabadell will be able to maintain growth rates.

  • Sabadell's net interest income, or earnings on loans minus deposit costs, rose 2% year-on-year on a pro forma basis in the quarter to €920 million, slightly below analysts' forecasts of €923 million.


    ($1 = 0.8959 euros)

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