News

• The bank will allocate 54 million euros to this digital banking model.
• It will be launched officially in January 2018.
• Jaime Guardiola, CEO, opens the new corporate branch office of Banco Sabadell in Guadalajara (Jalisco).

Banco Sabadell continues to develop its business in Mexico with the launch of retail banking in the country, scheduled for January 2018. Jaime Guardiola, CEO of the Group, is currently visiting the country and has opened the new corporate branch office of Banco Sabadell Mexico in the city of Guadalajara (Jalisco). He is confident that this project will be well received by the Mexican population: “We are continuing to build our business in the country, which is why we plan to invest 750 million pesos (34 million euros) over the next few years, in addition to the 450 million (20 million euros) that we have already invested to date. We want to build a modern bank that incorporates the latest technology in order to offer an improved service, in terms of both customers’ digital interactive experience and customer service.”

The upcoming launch comes at a time when digital banking has become an absolute necessity for users. The banking sector has had to adapt to the current situation in which customers demand the ability to carry out their bankiBanco Sabadell continues to develop its business in Mexico with the launch of retail banking in the country, scheduled for January 2018. Jaime Guardiola, CEO of the Group, is currently visiting the country and has opened the new corporate branch office of Banco Sabadell Mexico in the city of Guadalajara (Jalisco). He is confident that this project will be well received by the Mexican population: “We are continuing to build our business in the country, which is why we plan to invest 750 million pesos (34 million euros) over the next few years, in addition to the 450 million (20 million euros) that we have already invested to date. We want to build a modern bank that incorporates the latest technology in order to offer an improved service, in terms of both customers’ digital interactive experience and customer service.”ng activities from a mobile device.

Banco Sabadell’s 100% digital retail banking in Mexico offers a sight account with a balance that is always available and with no minimum balance requirement. Customers pay for the service with a gross annual fee of 4.00%, with zero opening and handling fees and free SPEI (electronic transfer) transactions, and can access promissory notes with an annual return of up to 7.35%.

The digital banking model has been designed based on the current requirements of Mexican customers. It is a project that has been started from scratch, which has allowed the bank to create procedures and build a platform that are aligned with customers’ expectations without having to overhaul its operating systems. In other words, an agile model has been developed which is similar to that of start-ups but with the experience of traditional banking, which will develop over time in line with changes in customers’ needs.

Banco Sabadell’s value proposition for personal banking in Mexico is based on a digital model, in which the main channel is a mobile device, combined with an important element of human touch, which gives customers a new and unique experience that is different from what the Mexican market is accustomed to.

Personal banking is based on simplicity, convenience, agility and personalisation. The response time will be below the market average. In terms of security, the platform will use the latest technology standards, including facial biometrics to authenticate users, the automatic data capture by taking a photo of their INE document and the ability to acquire products with a simple ‘swipe’.

Inauguration of the new corporate branch office in Guadalajara (Jalisco)

This week, the CEO of Banco Sabadell, Jaime Guardiola, opened the corporate branch office of Banco Sabadell in the city of Guadalajara (Jalisco), which to date had operated as a business banking centre.

Jalisco generates 6.3% of Mexico’s GDP and is home to a large part of the country’s commerce and services, as well as manufacturing industries and agri-industry.

In terms of Mexican states receiving funding from Banco Sabadell, Jalisco is the second largest recipient. Between its two entities, the bank and the SOFOM, at the end of October Banco Sabadell Mexico had placed 302 million euros (6,675 million Mexican pesos) and acquired 25.3 million euros (558 million pesos) between corporate and business banking.

This growth is the result of a sound deployment of its value proposition and the successful management of its customer portfolio. The Bank currently has over twenty employees, who will continue to lend support to the development of customers in the region.

In the words of Guardiola, “the opening of the corporate branch office in Guadalajara confirms that the Bank was right to decide to operate in Mexico all those years ago and shows our confidence in the opportunities that the market in Jalisco provides. Banco Sabadell is ready to support the various industrial sectors in the region and help them grow”.

About Banco Sabadell in Mexico

Banco Sabadell has been present in Mexico since 1991, first with a representative office in the capital of the country and then through the operation of its SOFOM Sabcapital. Later, on 4 January 2016, it obtained a licence to operate as a financial institution in the country.

In terms of the growth of its lending portfolio in corporate and business banking, the bank has already significantly exceeded the growth forecast of its lending volumes. It has placed loans and credit of over 9 billion Mexican pesos (407 million euros) in Business Banking and over 41 billion pesos (more than 1,855 million euros) in Corporate Banking. It already has a significant presence in the market, with over 250 partners as well as 13 business and corporate banking centres in key cities such as Mexico City, Monterrey, Guadalajarra, León, Querétaro and Cancún.