Banco de Sabadell will launch a new strategy that will prioritise its Spanish domestic business to generate efficiencies using the Group's capital and resources, thereby increasing profitability and creating value for its shareholders, after its Board of Directors unanimously agreed to end talks with BBVA given both parties did not reach an agreement on the exchange ratio of their shares.
While the main components and objectives of the new strategy will only be published in the first quarter of 2021, Banco de Sabadell is prepared to say that it will launch a transformation programme in its retail banking business which will have a neutral impact on capital and generate more efficiencies in this segment. Sabadell will also analyse strategic alternatives for creating shareholder value with regard to the Group's international assets, including TSB.
Sabadell’s leadership in Spain’s SME segment and top customer satisfaction ratings provide for a highly profitable solid domestic franchise. The bank looks forward to implementing its new strategic plan which will improve its efficiency and organic capital generation, focusing on the segments that generate greater profitability and added value.
