April 26, 2019 / 5:06 AM / 23 days ago

Spain's Sabadell Q1 net profit flat, beats expectations on lower costs

MADRID, April 26 (Reuters) - Spain’s Banco Sabadell on Friday said its first-quarter net profit was almost unchanged against the same quarter in 2018 due to lower overall costs and provisions.

Net profit came in at 258.3 million euros ($287.77 million) compared to 259.3 million euros in 2018 but above analysts’ forecasts of 221 million euros in a Reuters poll, while net interest income (NISI), or profit on loans minus funding costs, fell 1.2 percent in the quarter to 901 million euros.

$1 = 0.8982 euros Reporting By Jesús Aguado; editing by Tomás Cobos

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