|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.7270 - 0.7270|
|52 Week Range||0.0014 - 1.0000|
|Beta (5Y Monthly)||1.71|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Dec 20, 2019|
|1y Target Est||N/A|
Spain's Banco Sabadell said on Friday its British unit TSB swung back to a profit in the first quarter after speeding up a cost-cutting plan, however the group's bottom line fell 22% as lending income remained under pressure. The bank reported a net profit of 73 million euros ($88.5 million), above a 56 million euros forecast from analysts polled by Reuters, as it booked fewer provisions for loan losses. Sabadell's net interest income, earnings from loans minus deposit costs, fell 5.8% to 833 million, in line with market forecasts.
Sabadell is considering more job cuts and striking product distribution alliances with other European banks after merger talks with rival BBVA fell through last week, according to four sources with knowledge of the matter. Shares in the mid-sized Spanish lender slumped after the pair failed to agree on the price of their transaction, with investors now worried about Sabadell's ability to handle the expected pick-up in bad loans in the wake of the COVID-19 crisis if it goes it alone. Sabadell has said it is considering selling its British unit TSB, but sources said fresh cost saving measures are also under consideration.
Banco Bilbao (BBVA) and Banco de Sabadell's merger talks end on disagreement over financial terms.