Banco Sabadell achieved a net profit of €971 million in the first half of 2026, virtually unchanged from the previous year. The entity has completed a share buyback programme of €365 million.
Banco Sabadell recorded a net profit of €971 million in the first half of 2026, a figure almost identical to the same period last year, with a decrease of 0.5%. These results are the first under the leadership of the new CEO, Marc Armengol, who took over in February from César González-Bueno.
The interest margin grew by 3.4% compared to the first quarter, reaching €902 million, driven by commercial activity. Lending increased by 5.5% year-on-year, reaching €125.184 billion, thanks to a surge in loans to businesses, which grew by 38%; mortgages, by 22%; and consumer credit, by 9%.
The entity has completed a share buyback programme of €365 million, which involved the cancellation of nearly 120 million own shares, equivalent to 2.45% of its capital. This was communicated by the bank on Friday to the National Securities Market Commission (CNMV).
Regarding solvency, the capital ratio stood at 13.11%, down from 13.56% a year ago. Despite this slight decline, Sabadell is confident in its ability to generate organic capital. The sale of the UK subsidiary TSB to Santander generated over 400 basis points of capital, allowing for the issuance of an extraordinary dividend of €0.50 per share.
This semester marks a turning point for Sabadell, which, after divesting TSB, is primarily focused on the Spanish market. The new, more agile capital structure and the improvement in credit activity are the pillars on which the bank aims to base its future growth.
For investors, the share buyback and the extraordinary dividend represent a direct return. The evolution of credit, especially in the business segment, will be key to maintaining profitability in the coming quarters. The bank expects to continue generating capital organically, which opens the door to new distributions to shareholders.
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