February 11, 2014 / 11:27 AM / 4 years ago

Spain's Sabadell says targets 1 bln euro profit in 2016

MADRID, Feb 11 (Reuters) - Spain's Banco Sabadell said on Tuesday it expects profit to quadruple to 1 billion euros ($1.4 billion) in 2016 with a new business plan.

In a presentation, Sabadell also said it expected credit to rise an accumulated 1 percent between 2013 and 2016, adding that it is targeting a 'fully-loaded' Basel III capital ratio of 11.2 percent in 2016.

Sabadell posted a net profit of 248 million euros in 2013, boosted by lower provisions against losses on real estate assets, which had gutted earnings in 2012. ($1 = 0.7327 euros) (Reporting by Tracy Rucinski; Editing by Sonya Dowsett)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below