Results presentation
2Q 2026
Banco Sabadell delivers net profit of €971m through June, boosted by strong business momentum, and launches a new share buyback worth €331 million.
Strong commercial activity is driving the improvement in banking business revenue, with lending and customer funds growing 5.5% and 6.4% year-on-year respectively, alongside a notable pickup in new financing in Spain during the quarter.
Net interest income and fees confirm the change in trend, with quarterly growth expected to continue in the second half of the year. The bank, with a fully-loaded CET1 ratio of 13.11%, kicks off shareholder remuneration with a new share buyback program, and expects profitability to keep improving, reaching an RoTE of 14.5% in 2026 and 16% in 2027.
Presentation of 2Q 2026 Results
Marc Armengol explains the key points of the second quarter
Key figures
Second quarter in figures
Second quarter marked by high profitability and a solid capital position, with growth in fees and an improvement in risk quality.
14.5 %
RoTE
4 %
Quarterly fee growth
13.11 %
CET1 fully loaded
40 bps
Total cost of risk
Key data
01
Banking business revenue confirms the anticipated change in trend
Sabadell (excluding TSB) generated €2.417 billion in banking business income (net interest income + fees) in the first half of the year; €1.230 billion corresponded to the second quarter, up 3.6% on the first quarter due to strong commercial momentum, a trend the bank expects to continue rising.
Net interest income grew 3.4% quarter-on-quarter to €902 million, driven by lending growth. It reached €1.774 billion for the half-year, and the bank expects to close the year with an increase of more than 1%.
Fees rose 4% quarter-on-quarter to €328 million (€643 million for the half-year), on higher service revenue; the bank expects to close the year with a mid-single-digit increase.
02
Lending grows in Spain across all segments
Group live lending grows 5.5% year-on-year to around €125.2 billion; in Spain it rises 3.6% to €107.1 billion, with gains across all segments: SMEs and large corporates stand at around €45.7 billion (+1.9% year-on-year, +2.1% quarter-on-quarter, with new quarterly production surging 38%); mortgages reach €40.2 billion (+3.4% year-on-year, +0.9% quarter-on-quarter, new production +22% quarter-on-quarter); and consumer lending reaches €5.6 billion (+12.7% year-on-year, +2.7% quarter-on-quarter, new production +9% quarter-on-quarter).
Group customer funds rise 6.4% year-on-year to €188.110 billion, driven by both on-balance-sheet funds (+4.7% year-on-year) and off-balance-sheet funds (+11% year-on-year), the latter supported by mutual funds, wealth management, and insurance.
FEATURED QUOTES
The vision of Banco Sabadell
These results reflect the strength of our model. Income is growing and is set to accelerate in the coming quarters, driven by strong commercial momentum. We look to the second half with confidence and remain focused on creating value for our customers, employees and shareholders.
The resilience of our balance sheet and our capital generation capacity remain among the key strengths of the Group. We maintain robust capital ratios and are confident in the continued improvement of our results, providing strong foundation for the profitability targets we have set for 2026 and 2027.
