Banco Sabadell has reported a FY15 net profit of €€692mm, 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 result also beat analysts' estimates, which has forecast that the bank would report a yearly net profit of 708.4.
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 result also beat analysts' estimates, which has forecast that the bank would report a yearly net profit of €692m.