Banco Sabadell defends the value of its “solo project.” And he does it by presenting a record benefit of 1,827 million euros in 2024, 37.1% more“After having exceeded in each of the last two quarters the historical level of the 500 million euros, thanks to the great dynamism that the business is registering in Spain with both individuals and companies, and the growing contribution of TSB.”
These historical results for the Catalan Bank are also reflected in remuneration to the shareholder. The entity has decided to raise its estimate of compensation to the shareholder charged to the results of 2024 and 2025 from the 2.9 billion announced last July to 3,300 million euros. «This figure is equivalent to distributing 61 cents per share in the whole of the two exercises. This compensation includes cash dividends by 20.44 cents per share with a charge to 2024 and an amount planned at least the same for each title by 2025, and also shares of shares to distribute the capital that exceeds 13%. This year, 1,002 million euros will dedicate to this purpose, upon approval by the Board of Shareholders, ”said the bank.
After paying eight cents in cash as a dividend on account last October, the entity plans to distribute to its shareholders a total of 53 cents per share in the next 13 months, equivalent to 22% of its current value in the stock exchange. This next March 28 will arrive the first cast with a complementary dividend of 12.44 cents of Euro Grutos per share with charge to the results of exercise 2024.
With these record results and with the increase in the dividend, the Sabadell sends the message that the bank has value and potential to continue alone, without the need to get together with BBVA. The president of Banco Sabadell, Josep Oliu, explained: «In 2024, we have tripled the cash dividend, and in the next 13 months, the shareholders will have a remuneration equivalent to 22% of the value of their actions. None of the great banks in Spain plans to deliver a similar proportion ».
«We started a new year with confidence and ambition, convinced that Banco Sabadell’s solo project will generate value recurrent and sustainable For shareholders, customers, employees and society as a whole, ”added the leader. The CEO, César González-Bueno, said that these results demonstrate “that in recent years we have made the right decisions, that we are on the right path and that we have an encouraging future, with high and sustainable levels of profitability, with Excellent risk of risk and with a high capacity to continue generating capital to distribute among shareholders ».
Going to the detail of the results account, this is driven by the growth of 6.3% of the interest margin up to 5,021 million euros. The bank’s forecast is to finish 2025 in a figure above 4.9 billion, “supported by the growth of volumes, the resistance that allows it to have more than 60% of the credit portfolio at a fixed type and for the contribution of its subsidiary British TSB, which this year plans to increase its interest margin at the rhythms of a high digit ».
For their part, the net commissions amounted to 1,357 million euros in the whole year, which implies a reduction of 2.1% year -on -year. Banking business income (more interest margin of net commissions) rose to 6,378 million euros in the accumulated of 2024, 4.4% more, while total costs were 3,084 million euros in the year, a 2.3% interannual more.
In terms of capital, Sabadell has announced that it has generated 83 basic capital points in the year, which reached 13% of CET1, after announcing the sharing repurchase program. The profitability also grew at 343 basic points (Rote), which rose to 14.9% at the end of 2024, above the market consensus. «The bank plans to maintain these positive trends in a recurring basis in the present and subsequent exercise. His forecast is that the profitability is maintained at 14% in 2025 and above that level in 2026, ”said the entity.
In terms of problematic assets, the balance was reduced at 1,068 million euros in the last twelve months (-16% year-on-year), until closing December at 5,680 million euros, of which 4,844 million correspond to doubtful loans and 836 million euros of to adjudicated assets. Fruit of that decrease, the delinquency ratio fell to 2.84% in December 2024, signing its lowest level since 2009.
With regard to business outside Spain, its British subsidiary TSB finished 2024 with a benefit of 208 million pounds, almost 19% more, and the contribution to the group’s result was 253 million euros in the year, almost a 30% more.
#Sabadell #defends #solo #project #record #benefit #million #increased #dividend
