Non-performing loans declined by a record 1,047 million euro. The NPL ratio declined by 106 basis points in the first three months of the year, from 12.74% to 11.68% currently, and the doubtful asset coverage ratio was 51.4%.

Net interest revenues, which have increased steadily for the last seven quarters, rose by 21.3% in the first quarter in year-on-year terms.

New mortgage production increased by 66% year-on-year. Net commercial loans expanded for the fourth consecutive quarter, increasing by 7.1% in the last twelve months.

Customer funds increased by 6.2%. Off-balance sheet customer funds increased by 27.4% year-on-year. Assets in mutual funds and investment companies expanded by 51.6%.

24 April 2015.At the end of the first quarter, Banco Sabadell group's key balance sheet and income statement figures reflect the positive impact of the Triple Plan and the bank's accelerating progress quarter on quarter, outstripping market consensus expectations.

As of 31 March 2015, attributable net profit amounted to 174.6 million euro, 115.2% more than in the same period last year, after applying IFRIC 21 on accounting for levies. This result was obtained after allocating 906.5 million euro to provisions for NPLs, the securities and real estate portfolio, and other contingencies.

If IFRIC 21 had not been applied and, therefore, the contribution to the Deposit Guarantee Fund was being accrued in 2015, net attributable profit in the first quarter of 2015 would have amounted to €142.1 million (+75.2% y/y).

The first quarter was marked by the outstanding performance of customer funds, stronger demand for loans (especially among SMEs), and a faster pace of reduction in the portfolio of problem assets; Banco Sabadell also launched a takeover bid for UK bank

TSB and a rights issue for 1,600 million euro.

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