A Spanish bank has revealed positive figures for mortgage lending and net profit, providing another rebuff to cynics about the country’s property market.

Mortgage lending at Catalan-based Banco Sabadell was up 18.6 percent – a figure claimed by the bank to be totally in line with the market for property financing.

The bank’s mortgage lending makes up over 20 per cent of its loans portfolio, with Banco Sabadell asserting the high quality of its mortgage standings.

On the strength of its robust lending, the bank saw its nine-month net profits rise above €600 million (£418 million) beating analyst forecasts and sending out a strong message about the health of the financial and property markets.

Forbes.com reported the comments of bank chairman Jose Oliu, who read the positive property lending figures at Sabadell as evidence that “the Spanish financial system can more than weather the crisis sparked by the US subprime loans performance”.

Prices in Spanish property have risen at rapid rates over recent years, with interest from overseas buyers keeping values afloat even at difficult times.