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Banco Sabadell raises its estimates and points to record results
Banco Sabadell today revised its estimates, now expecting a record result this year, after posting 1,332 million euros in 2023.
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Economia Sabadell
The financial institution also raised its financial profitability target from 11.5% to 12%.
At the press conference to present its quarterly results, the bank's CEO, César González-Bueno, said that the good start to the year and the recovery of credit dictated the revision of its profitability target.
"With a financial profitability of 12% and higher capital, the results of 2024 should be the best in the bank's history, just as the results of 2023 were. It's pure mathematics," he said.
Sabadell reported earnings of 308 million euros through March, a figure that includes the payment of the bank tax (192 million euros).
González-Bueno was asked about the political situation in Spain, but declined to comment.
On Wednesday, Spanish Prime Minister Pedro Sánchez said he was considering resigning.
The government leader's public agenda has been canceled until Monday, when he is expected to publicly announce his decision.
A Madrid court confirmed the opening of a preliminary investigation involving Sánchez's wife, Begoña Gómez, for alleged influence peddling and corruption.
Read Also: Sánchez threatens to resign, but Spain cannot hold elections now. Understand (Portuguese version)
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