MADRID (Reuters) – Spain’s Sabadell on Thurday said its third-quarter net profit rose 8% from the same period in 2023 thanks to lower loan loss provisions at a moment when it tries to fend off a hostile takeover bid from rival BBVA (BME:).
The country’s fourth-largest bank in terms of market value reported a quarterly record net profit of 503 million euros ($546.6 million) in the July to September period compared to 464 million euro in the same period last year. Analysts polled by Reuters expected a net profit of 447 million euros.
($1 = 0.9202 euros)