February 1, 2019 / 6:04 AM / 22 days ago

Spain's Banco Sabadell 2018 net slumps 54 pct, hit by TSB

MADRID, Feb 1 (Reuters) - Spain’s Banco Sabadell posted on Friday a 54 percent slump in 2018 net profit, hit by 292 million euros ($333.81 million) in costs from an IT outage at its British bank TSB.

Net profit fell to 328.1 million euros in 2018 from 717 million euros a year earlier.

Net interest income, a measure of earnings on loans minus deposit costs, rose 0.3 percent to 3.68 billion euros in 2018 from a year earlier. ($1 = 0.8747 euros) (Reporting By Axel Bugge; Editing by Paul Day)

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