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Banco Sabadell passes the ECB comprehensive assessment in the run-up to Banking Union


26/10/2014
Banco Sabadell passed the comprehensive assessment conducted by the European Central Bank (ECB) in the framework of the Single Supervisory Mechanism, which examined the 128 largest banks in the euro area in cooperation with the national authorities and in close collaboration with the European Banking Authority (EBA).   The analysis, whose results were released today, concluded that the values of Banco Sabadell's assets, collateral and reserves are appropriate and that Banco Sabadell would not require additional capital in any of the scenarios considered.   José Oliu, Chairman of Banco Sabadell, considers that the outcome of the ECB's assessment "ratifies the strength of Banco Sabadell's capital and evidences, once again, that our active approach to managing the balance sheet and capital is appropriate; this rigorous exercise in transparency also sends a message of confidence to our shareholders, customers and employees; the outcome places us among Europe's soundest financial institutions following the severe crisis of recent years and at this historic moment, on the threshold of Banking Union".   Specifically, the Asset Quality Review did not lead to any adjustment in the valuations presented by Banco Sabadell as of 31 December 2013, while the stress test, which examined the balance sheet's ability to withstand stressed scenarios, revealed that Banco Sabadell would have surplus capital amounting to over 1.7 billion euro in the baseline scenario and over 2.2 billion euro in the most adverse scenario. Banco Sabadell is the only Spanish bank whose initial capital ratio was not adjusted as a result of the Asset Quality Review. Only 15 banks in all of Europe are in this position.   Overall, the ECB's comprehensive assessment revealed that Banco Sabadell's Common Equity Tier 1 (CET1) ratio is 10.26% and that it would be 8.33% in the most adverse scenario, amply exceeding the required minimum of 5.5%.  
The comprehensive assessment was a rigorous, exhaustive and homogeneous exercise in transparency which, in the case of Banco Sabadell, involved contributions from over 250 professionals in the finance, risk, legal, operations, technology and audit areas who, over the last eleven months, coordinated a review of transactions with a broad and significant sample of customers as well as real estate appraisals. 
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Banco de Sabadell, S.A. Avenida Óscar Esplá, 37, 03007 Alicante, registered with the Mercantile Register in Alicante, tome 4070, folio 1, page A-156980, Fiscal Identification Number (NIF) A08000143.
Financial institution under the supervision of the Bank of Spain and registered in the Special Administrative Register under number 0081
Email address info@bancsabadell.com - Banco de Sabadell, SA, 2014. All rights reserved.