Sabadell’s profit falls 29% in the first quarter due to the cost of the early retirement plan
Extraordinary minors and the drop in interest rates penalized Banc Sabadell in the first quarter of the year, with profits falling by 29.1%, down to 347 million euros. In the results for the January-March period, TSB continued to contribute dividends to the bank, and it will not be until the second quarter that the extraordinary profit (capital gain) of 300 million from the sale of that British subsidiary to Santander will be recorded.