Sabadell closes the BBVA takeover bid with a record profit of 1,390 million until September

Banco Sabadell buries the chapter of the BBVA takeover bid with record profits of 1,390 million, which represents 7.3% more compared to the same period in 2024. Despite being a historical figure, the figure is slightly below forecasts, given that analysts predicted that it would slightly exceed 1,400 million. In the note sent to the National Securities Market Commission (CNMV), they explain that this increase responds to the greater commercial pull, mainly due to the greater granting of credit, as well as lower provisions for provisions.

Despite this, the income of the banking business, which includes interest margin plus net commissions, experienced a cut of 2% and stood at 4,659 million, while the interest margin – the difference between what it charges for lending and what it pays for deposits – also decreased by 3.2% to 3,628 million, derived from the fall of the Euribor. The bank compensates for this decline with a rise in net commissions, which stand at 1,032 million, 2.1% more at the group level and 3.7% without including TSB, its British business, due to higher asset and waste management rates.

Specifically, credit grows in all segments, among which the granting of mortgages stands out (+26%), which reaches 5,062 million, while consumer credit reaches 2,216 million, 19% more. Likewise, card billing also stands out, which increased by 6%, up to 19,575 million at the end of September; and databanks or POS terminals, which increased by 2% in the first nine months of the year, with 43,683 million.

“Once the takeover bid is concluded, the solid results of the third quarter reaffirm the entity in its year-end objectives established in the 2025-2027 Strategic Plan, and confirm our shareholder remuneration forecasts of 6,450 million euros in the three-year period, comments the CEO, César González-Bueno. In this sense, the bank’s chief executive has recalled that the dividend per share will be higher in the next three years than the 20.44 cents paid against the 2024 results, with a profitability above 16% at the end of said roadmap, which will have Spain as its central market of action.

The closing of the operation with Banco Santander is scheduled for March 2026 for an amount of 3.1 billion euros, a figure that rises to 3.4 billion if the profits estimated by TSB until then are taken into account. Regarding delinquency, this indicator improves to 2.45%, two tenths below and the efficiency ratio, which measures the expenditure necessary to generate income, stood at 48.1% at the end of September.