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Corporate

Banco Sabadell will lend MXN 44 billion to corporates during 2017


15/02/2017

•        These lending figures represent a 30% increase compared with 2016.

•        2017 is a key year in terms of both the bank’s business development and its endeavours to consolidate itself as a key player in the Mexican market.

•        Banco Sabadell has recorded growth that exceeded expected volume growth during its first 12 months of activity.

•        The banking institution has also officially launched the Mobile App for Corporates, allowing its corporate customers to view and confirm their financial transactions through their mobile devices in a fast, simple and safe way.

 

Banco Sabadell expects to end 2017 with lending of MXN 44 billion to corporate customers (between the Bank and SOFOM), which will allow it to increase its customer portfolio by 92% and its turnover by 32% to MXN 47,024M, as part of its process of consolidation as a key player within the banking sector in this country.

2017 is a key year for the institution’s development. The institution is planning an ambitious deployment of 12 new commercial banking products (for businesses and organisations) and corporate banking products.

It also plans to start a first stage in its personal banking service, which will be 100% digital in line with current consumer trends.

Similarly, Banco Sabadell intends to continue growing at a steady rate and expand its market footprint, particularly in highly industrial and urban geographies. It hopes to open 7 new commercial banking centres in 2017 in Mexico City (3), Guadalajara (1), Monterrey (1) and the Bajío region (2), and aims to increase its workforce by 68%.

On this note, Jaime Guardiola, CEO for Banco Sabadell, stated: “The operation in Mexico has performed outstandingly, and has made positive contributions to Banco Sabadell Group's P&L. We continue to see this operation as a long-term project, with high growth projections and an increasing lending rate in the short-term”.

Francesc Noguera, General Manager of Banco Sabadell in Mexico, added: “In Mexico we have found an enormous appetite for corporate lending and extremely positive acceptance by corporates, and we have detected lending opportunities which we will seek to continue expanding through a value proposition focused on closeness, commitment and quality of service”.

 

First anniversary in Mexico

Little more than a year since operations formally began in this country, Banco Sabadell has recorded growth figures that exceeded expected volume growth during its first 12 months of activity.

At the end of 2016, the Bank had captured over 360 Commercial Banking customers (businesses and organisations) and Corporate Banking customers (85% of which were Mexican companies) through a portfolio largely made up of Tier 1 and Tier 2 companies with high credit ratings. The Institution recorded MXN 29,744M in lending and MXN 1,098M in deposits for Corporate Banking, and MXN 4,224M in lending and MXN 573M in deposits for Commercial Banking, becoming a key player in the sector.

Banco Sabadell also opened 6 business centres in Mexico City, Monterrey, Guadalajara and Cancun, increased its portfolio to over 15 products and services and ended the year with a workforce of 178 employees, almost double that at the end of 2015.

Launch of Mobile App for Corporates

In parallel to presenting its plans and results, Banco Sabadell officially launched the Mobile App for Corporates, offering its corporate customers the chance to view and confirm their financial transactions through their mobile devices in a fast, simple and safe way.

The app can be used to manage a corporate account from anywhere, financial transactions and the investment status of a company can be viewed and authorised instantly and remotely, and users can instantly contact the banking officers and directors through a visual, intuitive and avant-garde interface.

Speaking about the launch, Francesc Noguera said: “The Mobile App for Corporates is the first novelty of our new deployment of products which focus on providing all of our customers with the highest possible quality of service. With this app, we aim to provide a service which is in line with contemporary digital trends and the mobile needs of our customers, which not only provides them with security and privacy in their activities, but also allows us to be closer to them”.

About Banco Sabadell

Banco Sabadell (www.bancosabadell.com) is currently the fourth largest Spanish bank, with over 2,760 branches and close to 26,000 employees. Its total assets already stand above €212 billion. With headquarters in Barcelona, it has been operating in the Spanish market since 1881 and is a leading franchise in the segment of corporates and employers with international activity.

On 4 January 2016, the Bank obtained a banking licence to operate as a financial institution in Mexico. In terms of the growth of its lending portfolio in corporate and commercial banking, the entity has already significantly exceeded the growth forecast of its volumes. It has placed loans in excess of MXN 4 billion in Commercial Banking and over MXN 29 billion in Corporate Banking, with a portfolio largely made up of Tier 1 and Tier 2 companies with high credit ratings.

It already has a notable market footprint, with over 200 partners and 6 commercial banking and corporate banking centres.

The institution is well acquainted with the local market thanks to its presence in Mexico since 1991 through its representative office in the country’s capital city, a 20% stake in Banco del Bajío which it held for 14 years and its operations with its SOFOM, Sabadell Capital. Since 4 January 2016, Banco Sabadell has had a banking licence to operate as a full-service bank. It should be noted that the current CEO of Banco Sabadell, Jaime Guardiola, is an experienced banker who has excellent and profound knowledge of the Mexican market.

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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
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