Results presentation
Q3 2026
Banco Sabadell delivers net profit of €1,376m, maintaining its solid commercial momentum, and announces a €325m interim cash dividend
Banco Sabadell Group recorded a net profit of €1.376 billion between January and September 2026, down 1% compared with the same period of the previous year. This figure includes TSB’s contribution, as TSB was part of the Group for four months during the current financial year, until its sale.
In the third quarter, the bank achieved a recurring net profit of €405 million, up 13% compared with the previous quarter. This performance reflects the strength of its business in Spain and the bank’s ability to continue driving profitable and sustainable growth, bringing cumulative recurring net profit for the first nine months of the year to €1.096 billion.
Presentation of 3Q 2026 Results
Marc Armengol explains the key points of the third quarter
Key figures
Third quarter in figures
We are consolidating a high-value trajectory: combining steadily accelerating profitability with sustained momentum in fees, backed by unwavering capital strength and continuously improving asset quality.
14.2 %
Recurring RoTE
-5.3 %
Quarterly growth in fees
13.12 %
CET1 fully loaded
40 bps
Total cost of risk
Key Highlights
Banking business revenue reaffirms its upward trend
Banking business revenue (net interest income plus fees), excluding TSB, reached €3,677 million between January and September (+0.1% year-on-year). The third quarter contributed €1,260 million, 2.4% more than the second.
Net interest income rises 2% quarter-on-quarter, to €920 million (€2,694 million in 9M26, -0.6% year-on-year). The bank expects to close the year with a rise of around 1%.
Fees improve 3.7% quarter-on-quarter, to €340 million (€983 million in 9M26, +2.1% year-on-year), driven by the higher contribution from asset management following the extension of the fund distribution agreement with Amundi, renewed until 2035. A rise of around 4% is expected for the full year.
Recurring costs remain stable in the quarter (-0.1%); they are expected to grow by around 2% in 2026.
Lending grows in Spain across all segments
The Group’s outstanding loan balance grows 4% year-on-year, to €124,913 million. In Spain it grows 3% year-to-date, to €106,434 million, with gains across all segments.
SMEs and large corporates: €45,599 million (+3% year-to-date).
Mortgages: €40,716 million (+3.5% year-on-year), with new quarterly production up 5%.
Consumer lending: €5,880 million (+12.7% year-on-year), with new quarterly production up 13%.
The Group’s customer funds reach €189,449 million (+5.6% year-on-year): on-balance-sheet funds of €133,569 million (+4.6% year-on-year) and off-balance-sheet funds of €55,880 million (+8.1% year-on-year), supported by the good performance of investment funds and wealth management.
The NPL ratio improves to 2.40% (-35 bps year-on-year), with stage 3 coverage from total provisions of 70.1% (+80 bps year-on-year).
Shareholder remuneration and BPCE’s entry as a strategic shareholder
The bank announces a cash interim dividend of 7 cents per share (€325 million), payable on 29 December: the second shareholder remuneration charged to 2026 results.
The €331 million share buyback programme, launched in July, is 83% executed (€57 million remaining).
The capacity for shareholder remuneration is underpinned by organic capital generation: the fully loaded CET1 ratio remains stable at 13.12%.
FEATURED QUOTES
The vision of Banco Sabadell
Once again, we’ve shown our ability to grow the business in a sustainably, improve revenue and contain costs. In a challenging environment, Banco Sabadell’s strong position allows us to continue generating value for our clients and shareholders, while at the same time forging ahead with the transformation of our Institution
Our third-quarter results demonstrate the quality and recurring nature of our generation of profits. The combination of growing RoTE, a solid solvency and our continuously improving credit quality puts us in a strong position to maintain an attractive remuneration policy for our shareholders
