July 25, 2012 / 6:05 AM / 5 years ago

Spain's Sabadell net profit down 45 pct in H1

MADRID, July 25 (Reuters) - Sabadell said on Wednesday net profit fell 45 percent in the first half of the year to 90 million euros, well below forecasts of 113 million euros.

The lender said it set aside provisions worth 1.89 billion euros to cover potential losses on toxic real estate assets.

Non-performing loans edged up significantly to 7.82 percent at end of June from 6.02 percent in March after Sabadell took over smaller lender CAM, loaded with toxic property assets. (Reporting By Jesús Aguado; Editing by Julien Toyer)

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