Sabadell will launch a new strategy with a clear focus on its domestic market
The new strategic plan will be presented during the first quarter of 2021
The bank is strongly positioned and is on a solid path to increase profitability and generate value organically
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.
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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