Banco Sabadell Calls August 6 Meetings to Approve TSB Sale, €0.07 Dividend Amid BBVA Takeover Defense

Banco Sabadell has announced the convening of two extraordinary general meetings of shareholders scheduled for August 6, 2025. The meetings aim to approve the sale of its UK subsidiary TSB and to authorize the payment of an extraordinary dividend. This decision follows regulatory pressure from Spain's National Securities Market Commission (CNMV), which mandated the separate votes on the transaction and the dividend. The move comes as part of Sabadell's broader strategy to fend off a takeover attempt by larger rival BBVA. In its second-quarter 2025 earnings report, Banco Sabadell posted a net income of €486 million, surpassing estimates of €439.8 million, with net interest income at €1.21 billion and a fully loaded CET1 ratio of 13.6%. The bank declared an interim dividend of €0.07 per share payable on August 29. Looking ahead, Sabadell projects a net profit exceeding €1.6 billion by 2027, excluding contributions from TSB, and plans to distribute a total of €6.3 billion to shareholders through 2027. The bank also anticipates a 16% rate by 2027.