01 February 2021 12:00 PM

Banc Sabadell profit drops by 99.7% in 2020 due to Covid-19 provisions

2 million euros in earnings also tied to sale of troubled assets and restructuring plan

Disagreements over split of shares prevent formation of Spain's second largest lender

Resulting banking group would have assets of €600bn, close to that of CaixaBank and Bankia

CaixaBank and Banc Sabadell make 67% and 72% less in the first half of 2020, while Spanish GDP collapses 18.5%

Banc Sabadell earns €532 million so far this year, a rise of 341%

Rise attributed to strength of core business, while Banc Sabadell registers 54% fall in gains last year

Madrid regrets "important damage" caused to economy after referendum

Ara newspaper says state authorities and crown put orchestrated pressure on firms to flee the country immediately after October referendum

Ara newspaper says state authorities and crown put orchestrated pressure on firms to flee the country immediately after October referendum

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