Sabadell's Q1 net profit falls 29% hit by higher costs and lower lending income

Sabadell's first-quarter net profit fell 29% year over year, pressured by lower fees, weaker lending income, and higher costs. The bank said its focus is shifting to a standalone strategy after selling its British unit TSB, highlighting a post-divestiture transition period with softer near-term earnings momentum.

Analysis

Sabadell's first-quarter net profit fell 29% year over year, pressured by lower fees, weaker lending income, and higher costs. The bank said its focus is shifting to a standalone strategy after selling its British unit TSB, highlighting a post-divestiture transition period with softer near-term earnings momentum.