MADRID, Jan 29 (Reuters) - Spanish lender Banco Sabadell on Friday posted a 91 percent jump in full-year net profit, boosted by the acquisition of British peer TSB which more than offset rising provisions against bad loans in the fourth quarter. Net profit came in at 708.4 million euros ($771.9 million), beating a Reuters forecast of 692 million euros while net interest income, or profit from loans minus funding costs, rose 42 percent to 3.2 billion euros. ($1 = 0.9177 euros) (Reporting by Julien Toyer; Editing by Paul Day)
Banco Sabadell has reported a FY15 net profit of €708.4m, up 91% YoY, with the result boosted by the acquisition of the UK bank TSB. This acquisition is reported to have offset provisions that the bank made against bad loans in 4Q. The company also announced today it will be raising its dividend for the first time since 2012 and plans to increase capital spending next year.