October 26, 2018 / 5:31 AM / 25 days ago

Spain's Sabadell Q3 net profit down 37.4 pct on charges due to TSB costs

MADRID, Oct 26 (Reuters) - Spain’s Banco Sabadell on Friday announced a 37.4 percent decline in third-quarter net profit to 127.2 million euros ($144.6 million) after extraordinary costs of 87.7 million euros related to an IT outage at its British unit TSB.

Analysts had expected a net profit of 123 million euros.

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 = 0.8799 euros Reporting By Jesús Aguado; editing by Sonya Dowsett

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