April 30, 2020 / 5:06 AM / 3 months ago

Sabadell's Q1 net profits falls 64% on coronavirus-related provisions

MADRID, April 30 (Reuters) - Spain’s Banco Sabadell reported a 64% fall in first-quarter net profit against the same period a year ago due to extraordinary provisions of 213 million euros to cover the potential impact on its books from the COVID-19 disease, the bank said on Thursday.

The country’s fifth-largest bank in terms of total assets reported a net profit of 94 million euros in the January to March period. Analysts polled by Reuters expected a net profit of 116 million euros.

$1 = 0.9219 euros Reporting By Jesús Aguado; editing by Inti Landauro

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