The entity chaired by Marc Armengol achieved a net profit of €971 million in the first half of 2026, 0.5% less than the previous year, but expects sustained improvement. Additionally, it will launch a new share buyback programme worth €331 million.
Banco Sabadell closed the first half of 2026 with a net profit of €971 million, a figure slightly lower (0.5%) than the €975 million from the same period last year. Despite the slight decline, the entity based in Sant Cugat del Vallès is confident that results will improve in the coming quarters thanks to business growth, cost containment, and high asset quality.
The CEO, Marc Armengol, described the results as a demonstration of the strength of the bank's project. “Income is increasing and will increase further in the coming quarters thanks to the strong boost from our commercial activity,” he stated. Armengol added that the entity is approaching the second half of the year with confidence and focused on generating value for clients, employees, and shareholders.
The group's banking business income, excluding TSB, reached €2.417 billion in the half, of which €1.230 billion corresponds to the second quarter. The interest margin grew by 3.4% on a quarterly basis, while commissions increased by 4%. Management defines the first quarter as a valley that is now behind.
Commercial activity has also performed well, with annual increases of 5.5% in credit and 6.4% in customer resources at the group level. In Spain, new financing grew across all segments: SMEs and companies (+38%), mortgages (+22%), and consumer (+9%).
In terms of shareholder remuneration, the bank announced a new share buyback programme with a maximum amount of €331 million, equivalent to approximately 2.1% of its share capital. The buyback will be activated next week, after an extraordinary dividend of €0.50 per share was paid in May from the funds obtained from the sale of TSB.
The CFO, Sergio Palavecino, highlighted the strength of the balance sheet and capital generation capacity. “We have robust solvency levels and confidence in the improvement of our results to achieve the committed profitability in the 2026 and 2027 financial years,” he stated.
The entity expects RoTE (return on tangible equity) to rise from the current 13.6% to 14.5% by the end of 2026 and reach 16% in 2027. These forecasts are supported by the upward trend in income and cost discipline.
For Banco Sabadell clients in the province of Barcelona, the bank's evolution is relevant, as the entity maintains a strong presence in the area, with offices and services tailored to SMEs and individuals. The improvement in profitability and the share buyback are signs of the bank's confidence in its own growth.
The share buyback programme will be executed in the coming months, which could have a positive impact on the stock price. Shareholders will receive more details through the bank's official channels.
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