
Sabadell targets profitability ratio of 16% in 2027 without TSB
Sabadell, which is trying to fend off a 13 billion euros ($15.31 billion) takeover bid by larger rival BBVA (BBVA.MC), opens new tab, said it aimed to boost profits thanks to cost controls in Spain and a 5% accumulated annual rise in overall loans over the period. This would allow it to book a net profit higher than 1.6 billion euros in 2027.
Its 2025-2027 strategy comes after agreeing to sell its British unit TSB to Santander (SAN.MC), opens new tab for 2.65 billion pounds, which still requires the approval by Sabadell shareholders.
The bank will also ask its shareholders to vote on a proposed extraordinary 2.5 billion euro cash dividend financed with the proceeds of the divestment.
Analysts see Sabadell's decision to dispose of TSB as defensive move to ward off BBVA.
In the second quarter, Sabadell said its net profit rose 0.6% to 486 million euros thanks to lower provisions, above analysts' forecasts of 444 million euros.
($1 = 0.8812 euros)
($1 = 0.7365 pounds)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Telegraph
10 minutes ago
- Telegraph
Telecoms boss lands record £131m payday
The boss of a little-known UK telecoms business was handed a record £131m last year, marking the highest-ever package paid by a London-listed business. Eamonn O'Hare, who runs Zegona Communications, received a £129m bonus in 2024, on top of £2m in annual pay and benefits. The company's operations chief, Robert Samuelson, also took home a total package of £66m. By contrast, the average remuneration for an FTSE 100 chief executive last year was £4.2m. The lucrative pay awards were made after Zegona acquired Vodafone's Spanish arm for £4.4bn last year. Mr O'Hare and Mr Samuelson, both former Virgin Media executives, launched Zegona a decade ago to buy up struggling assets in the telecoms sector and turn them around. Zegona went public in 2015 with a float on London's AIM junior exchange, when it raised £30m. However, its value has since soared after undertaking a series of deals, buying up unloved assets and selling them on for profit.


Daily Mail
10 minutes ago
- Daily Mail
Liverpool agree £65m deal to sell Luis Diaz to Bayern Munich after forward requested to leave and was dropped for pre-season
Liverpool have agreed to sell Luis Diaz to Bayern Munich in a £65million deal. Mail Sport understands the forward first requested to leave the club last summer and he will fly out from Tokyo in the next 24 hours to join up with his new team-mates. Colombian international Diaz has been a long-term target for the Bundesliga champions despite them seeing an initial bid worth £58.5m rebuffed. Negotiations resumed in recent days and a second official approach has now been accepted. Diaz, who arrived at Anfield for an initial £37m fee in January 2022, was dropped for the Reds' squad to play AC Milan in their latest pre-season friendly. Boss Arne Slot admitted his absence from the 4-2 defeat was directly linked to his uncertain future, saying: 'In Lucho's situation it was, yeah. 'There are a lot of rumours around it lately and I cannot go into that. But he is training really well with us and we have decided, for now, not to play him yet. More to follow.


Daily Mail
10 minutes ago
- Daily Mail
Bank a tidy profit by swerving the Big Four: Our shares guru's expert advice on the smaller fish financial firms to invest in - including one that's up 80% since she first tipped it two years ago
Banks are a bit of a hobby horse for me. My first job in journalism involved international banking and finance; I was a banking correspondent for years, and I've maintained a keen interest in the industry ever since. It's been a bumpy ride, particularly for the so-called Big Four – Barclays, HSBC, Lloyds and NatWest. Pummelled by the Global Financial Crisis, prodded and poked by online start-ups and squeezed by years of low interest rates, mainstream lenders disappointed investors for years.