July 31, 2020 / 5:25 AM / 6 days ago

Spain's Sabadell second-quarter net profit falls 81% on coronavirus-related provisions

MADRID (Reuters) - Spain’s Banco Sabadell (SABE.MC) reported second quarter net profit fell 81% from the same period a year ago after it set aside 635 million euros (575.11 million pounds) in provisions to anticipate the COVID-19 pandemic’s fallout, the bank said on Friday.

The country’s fifth-largest bank in terms of total assets reported a net profit of 52 million euros in the April to June period. Analysts polled by Reuters expected a net profit of 74 million euros.

Reporting by Jesús Aguado, Editing by Emma Pinedo and Inti Landauro

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