July 27, 2018 / 4:58 AM / 2 months ago

Spain's Sabadell books Q2 net loss after TSB's IT-failure costs

MADRID, July 27 (Reuters) - Spain’s Banco Sabadell on Friday announced a loss of 138.7 million euros ($161.6 million) in the second-quarter after extraordinary costs of 203.1 million euros related to its IT outage at its British unit TSB.

A botched migration of TSB computer systems in April saw thousands of users locked out of their accounts and a surge in attacks by fraudsters, prompting a regulatory investigation and criticism of its chief executive.

$1 = 0.8584 euros Reporting By Jesús Aguado; Editing by Paul Day

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