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Spain's Sabadell sees profitability rising 80 pct in 3 years

05 March 18 - RE+D Magazine
Spain's Sabadell sees profitability rising 80 pct in 3 years

COMPANIES

Solum Property Solutions

Consultant - GREECE

Eurobank Property Services

Consultant - GREECE

PEOPLE

Dimitris Andritsos

CEO of Eurobank Property Services S.A Eurobank Property Services
Spain’s Banco Sabadell aims to increase its profitability by almost 80 percent over the next three years, buoyed a gentle rise in interest rates and steady growth in banking fees and lending income.

 

Spain’s fifth-biggest lender said it planned to end 2020 with a return on tangible equity ratio (ROTE) of around 13 percent, up from 7.27 percent at the end of 2017.

Over 2017-2020, Sabadell expects net interest income - profit from loans minus funding costs - to achieve a compound annual growth rate of more than 4 percent.

Spanish banks have been struggling to lift earnings from loans as interest rates hover at historic lows and increasing competition erodes margins. To offset pressure at home, they have been expanding abroad in search of higher revenues, and cutting costs.

Source: Reuters

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