Banco Sabadell

Last updated
Banco de Sabadell, S.A.
Company type Sociedad Anónima
BMAD:  SAB
ISIN ES0113860A34
Industry Financial services
Founded Sabadell, Spain (31 December 1881;142 years ago (1881-12-31))
Headquarters Alicante, Barcelona, Spain
Key people
  • Josep Oliu Creus, Chairman
  • César González-Bueno Mayer, CEO
Products Financial services
Revenue35,165,000,000 Euro (2022)  OOjs UI icon edit-ltr-progressive.svg
Increase2.svg €213 million (2022 1Q) [1]
Total assets Increase2.svg €253.256 billion (2022 1Q) [1]
Number of employees
Decrease2.svg 18,985 (2022 1Q)
Website www.grupbancsabadell.com

Banco de Sabadell, S.A. (Catalan : Banc Sabadell) is a Spanish multinational financial services company headquartered in Alicante and Barcelona, Spain. It is the 4th-largest Spanish banking group. [2] It includes several banks, brands, subsidiaries and associated banks. It is a universal bank and specialises in serving small and medium enterprises (SMEs) and the affluent with a bias towards international trade.

Contents

As of March 2022, the total assets of Banco Sabadell Group amounted to €253,256 billion. It has a network of 1,594 branches, 18,985 employees and 12.1 million customers.

Since 2001, it is floated on the Bolsa de Madrid and is part of the IBEX 35.

Banco Sabadell has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank. [3] [4]

Strategic plan

In February 2014, Banco Sabadell started its 2014–2016 business plan, Triple, that aims to leverage its new size and margin-generating capability. The main goal of the 2014–2016 Triple Plan is profitability. Key themes of the new plan are transformation (transformation of the business, transformation of the production process and transformation of the balance sheet) and internationalization (laying the foundations for becoming more international in terms of structure and resources and entering new markets).

History

On 31 December 1881, a group of 127 businessmen and traders from Sabadell, in the province of Barcelona, founded the Bank with the purpose of financing local industries and providing them with raw materials (wool and coal) under more favourable conditions.

In 1907, Banco Sabadell began a new stage: it ended its non-banking businesses to focus on commercial banking. In 1953, in order to preserve the organisation's independence, the shareholders created a share syndication agreement.

In 1965, Banco Sabadell slowly spread to nearby towns. In 1975, it expanded beyond Catalonia, opening a branch in Madrid. In 1978, Banco Sabadell expanded internationally, initially in the City of London.

The bank is a pioneer in bank computing in Spain. In 1968, it automated accounting and administrative processes. In 1986, it introduced remote banking: the telephone (FonoBanc) and computer (InfoBanc) were incorporated as new channels for communication and service prodivision. In 1998, it launched BancSabadell Net, Spain's first Internet banking service.

In 1988, Sabadell MultiBanca, later Sabadell Banca Privada, opened, specialising in equity management and private banking and the Banco Sabadell group was formed.

In 1996, Banco Sabadell started a new expansion phase, increasing its size and operating capacity.

Banco Sabadell went public in 2001 and became a member of the IBEX 35 in 2004.

Since 2007, the Bank has doubled in size and is currently Spain's fifth largest bank. Acquisitions include NatWest Spain, Banco Herrero, Banco Atlántico, Banco Urquijo, TransAtlantic Bank, Private Banking Business of BBVA (US), Mellon United National Bank, Banco Guipuzcoano, Lydian Private Bank, Banco CAM, Banco Mare Nostrum (BMN) network in Catalonia and Aragon, Lloyds TSB Spain, Banco Gallego, Lloyds TSB Miami and JGB Bank.

On 5 October 2017, the board of Banco Sabadell decided in an emergency session to move their legal base to Alicante in response to growing political insecurity in Catalonia. [5] A few days later, the bank decided to move its fiscal domicile to Alicante too. [6]

In December 2018, it was announced the selling of 80% of Solvia to Intrum. [7]

Timeline

Brands

Subsidiaries

Branch network

At the end of the year 2014, Banco Sabadell operated through 2,310 branches and had 17,529 employees.

Banco Sabadell 53 international branches and representative offices in Algiers, Peking, Caracas, Dubai, Istanbul, México DF, New York, New Delhi, Santo Domingo, São Paulo, Shanghai, Singapore and Warsaw.

Banco Sabadell has subsidiaries and associated Banks in Andorra, United States, Portugal, United Kingdom; and branches in London, Miami, Paris, Hendaye and Casablanca.

Board of directors

The members of the Board of Directors of Banco Sabadell are:

PositionName
ChairmanJosep Oliu Creus
Deputy ChairmenJavier Echenique Landiribar
Managing directorJaime Guardiola Romojaro
DirectorHéctor María Colonques Moreno
DirectorJoaquín Folch-Rusiñol Corachán
DirectorMª Teresa García-Milà Lloveras
DirectorJoan Llonch Andreu
DirectorDavid Martínez Guzmán
DirectorAurora Catá Sala *
DirectorJosé Manuel Martínez Martínez
DirectorJosé Ramón Martínez Sufrategui
DirectorAntónio Vitor Martins Monteiro
DirectorJosé Luis Negro Rodríguez
DirectorJosé Permanyer Cunillera
Secretary to the BoardMiquel Roca i Junyent
Deputy SecretaryMaría José García Beato

* To be ratified at the next shareholders' meeting

Shareholder structure

By tranches (n. % of equity)Other information
Up to 120,000 shares37%Number of shares4,024,460,614
More than 120,000 shares63%Number of shareholders231,481

See also

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References

  1. 1 2 Banco Sabadell, Ver Informe Financiero 1T 2022
  2. "TSB confirms £1.7bn takeover move by Spain's Sabadell". BBC News. 12 March 2015. Retrieved 14 March 2015.
  3. "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  4. "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  5. "Spanish lender Sabadell to transfer legal base to Alicante – El Pais". Reuters. 5 October 2017. Retrieved 2017-10-05.
  6. "CaixaBank y Sabadell también trasladan su sede fiscal a la Comunidad Valenciana". ABC (in Spanish). 10 October 2017. Retrieved 2017-10-10.
  7. "Banco Sabadell Sells 80% of Solvia to Intrum" . Retrieved 20 December 2018.
  8. "Lloyds to sell Spanish retail division to Sabadell". BBC News. 29 April 2013. Retrieved 29 April 2013.
  9. "Legal Documentation". Lloyds Bank International. 2013. Retrieved 19 September 2013.
  10. "Information on the integration process with Banco Sabadell". Banco Sabadell. February 2014. Retrieved 2 March 2014.