Banco de Sabadell, S.A. (OTCPK:BNDSF) Q3 2024 Earnings Conference Call October 31, 2024 8:00 AM ET
Company Participants
Gerardo Artiach – Head, Investor Relations
César González-Bueno – Chief Executive Officer
Leopoldo Alvear – Chief Financial Officer
Conference Call Participants
Maksym Mishyn – JB Capital
Pablo de la Torre – RBC Capital Markets
Carlos Peixoto – CaixaBank
Britta Schmidt – Autonomous
Borja Ramirez – Citi
Sofie Peterzens – JPMorgan
Gerardo Artiach
Good afternoon. Thank you for joining us on Banco Sabadell’s Third Quarter 2024 Results Audio Webcast. Please be welcome. As in previous occasions, the presentation will be given by César and Leo. They will cover the main highlights and details of the commercial and financial performance in the third quarter of the year.
The presentation will be followed up by a Q&A session. We are aware that it is a very busy day, so we will try to squeeze the whole session in one hour.
With no further ado, let me hand it over to César. César the floor is yours.
César González-Bueno
Thank you, Gerardo. Good afternoon everyone and welcome to Sabadell’s third quarter 2024 results presentation. Once again Sabadell has delivered a set of excellent results.
Let’s begin with the key messages on Slide 4. First of all, commercial activity has continued to show positive momentum during the year, despite the typical third quarter seasonality. As a result, performing loans have grown by 2% year-on-year and 3% year-to-date.
Secondly, the structure of our balance sheet and our management actions provide for a relatively lower NII sensitivity to interest rates. So, as our NII remained resilient with a slight decline of 0.7% quarter-on-quarter, while NIM slightly increased by four basis points.
Thirdly, asset quality metrics continue to improve with a remarkable 3% reduction in NPAs in just one quarter. Coverage has increased
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