October 25, 2019 / 5:19 AM / a month ago

Sabadell almost doubles Q3 net profit due to lower one-off costs

MADRID, Oct 25 (Reuters) - Spain’s Banco Sabadell said on Friday it almost doubled its third quarter net profit against the same period a year earlier when it suffered one-off costs of 88 million euros ($97.8 million) related to an IT outage at its British unit TSB.

Net profit for the quarter came in at 251 million euros ($279 million), above an average of 231 million euros forecast by a Reuters poll, while net interest income fell 2.9% to 906 million euros from a year earlier.

$1 = 0.9007 euros Reporting By Jesús Aguado; editing by Ashifa Kassam

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