April 25, 2024 05:49 GMT
Sabadell Results Initial Reaction: Beat On Revenues
FINANCIALS
Sabadell 1Q24 results headlines show revenues 4% above consensus, slightly lower costs than expected but a miss on loan losses (EUR208m vs. 190m est.) and that revenue beat has fed a c.25% net income beat (guidance also upgraded):
- SABADELL 1Q NET INCOME EU308M, EST. EU244.7M
- SABADELL 1Q CET1 RATIO FULLY-LOADED 13.3%, EST. 13.3%
- SABADELL 1Q NET INTEREST INCOME EU1.23B, EST. EU1.21B
- SABADELL SEES FY ROTE ABOVE +12%, SAW ABOVE +11.5%
- SABADELL SEES FY NII GROWTH ABOUT +3%
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