April 26, 2018 / 5:22 AM / a month ago

Spain's Sabadell Q1 net profit rises 33 pct on lower provisions

MADRID, April 26 (Reuters) - Spain’s Banco Sabadell said on Thursday its first-quarter net profit rose 33 percent thanks to lower loan loss provisions, though lending income remained under pressure because of ultra-low interest rates.

Net profit came in at 259 million euros ($315.31 million), above analysts’ forecasts of 211 million euros in a Reuters poll.

Its net interest income, or profit from loans minus funding costs, rose 1.9 percent in the quarter to 912 million euros, below forecasts of 920 million euros and was 1.4 percent lower than in the previous quarter.

$1 = 0.8214 euros Reporting By Jesús Aguado; editing by Paul Day

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