Sabadell Bank makes a profit of 1.38 billion by September

O Sabadell Bank made a profit of €1.38 billion by September, less 1% than in the previous year, due to the lower contribution of TSB, the British bank that the group sold in May.

According to information sent today to the Spanish National Securities Market Commission (CNMV), not counting on the TSB nor the extraordinary effects, the bank recorded a profit of 405 million in the third quarter, more 13% than between April and June, thanks to increased interest and commission revenues and stable recurring costs.

The entity, whose recurring profitability has risen to 14.2%, will pay on December 29 a provisional dividend in cash of 7 cents per share, totaling EUR 325 million.

“ We have once again demonstrated our ability to grow the business in a sustainable way, while improving revenues and counting costs,” said Marc Armengol.

The TSB contributed EUR 79 million in the four months in which it was part of the group this year, against the 242 million it generated in the first nine months of 2025.

Excluding the British subsidiary, Sabadell's profit rose from 1,148 million in the first nine months from 2025 to 1,297 million this year, but without the extraordinary effects of this exercise it would have been lower than the previous year.

With the sale of the TSB, the bank recorded capital gains of 322 million, although it also incurred extraordinary expenses, such as the pre-retirement plan, so the net balance was 201 million in its favour.

Excluding these effects, the recurrent profit amounted to 1,096 million by September, minus 5.3% than in the previous year, according to the bank, although it has been growing quarter by quarter since spring.

The departure of the subsidiary is also reflected in the balance sheet: the total group asset was reduced to 18.5% in one year, to 199. 258 million.

The interest margin stood at 2,694 million by September, a reduction of 0.6%, although in the third quarter it increased 2% compared to the previous, reaching 920 million, due to a higher credit volume.

The commissions grew by 2.1%, reaching 983 million, driven by asset management following the extension of the agreement with French manager Amundi, and in the third quarter there was an increase of 3.7% compared to the previous quarter.

As a result, income from banking, which includes interest and commissions, reached 3,677 million, an increase of 0.1%, thus resuming growth in homologous terms.

The gross margin amounted to 3.777 million plus 1%, but the pre-supply margin fell by 5.3% to 1.981 million because the total costs increased by 9.1% to 1.797 million.

These costs include 88 million non-recurrents resulting from the pre-retirement plan; without them, expenses increased by 3.8% by September and remained stable in the third quarter.

The institution plans to close the year with an increase of around 1% in the interest margin, around 4% in commissions and 2% in recurrent costs.