July 26, 2019 / 5:12 AM / a month ago

Sabadell books Q2 profit of 273 mln euros after loss last year due to TSB costs

MADRID, July 26 (Reuters) - Spain’s Banco Sabadell on Friday announced a net profit of 273 million euros ($304.50 million) in the second quarter compared to a loss in the same period last year due to its IT outage at its British unit TSB.

Net interest income — a measure of earnings on loans minus deposit costs — was slightly down 0.2% in the first six months of 2019 to 1.81 billion euros compared to the first half last year, in line with analysts’ forecasts

$1 = 0.8584 euros Reporting By Jesús Aguado; Editing by Jose Elías Rodriguez

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