Sabadell Bank: No Mergers, No Headquarters Relocation in the Cards as Focus Remains on Profitability and Growth

Sabadell Bank has stated that they are not interested in pursuing any purchase or merger operations with other banks to further expand in Spain. Despite recent rumors suggesting negotiations with Unicaja for a potential merger, the bank’s president, Joseph Oliu, stated that they are not considering any such inorganic operations. While there are always contacts with competitors, there is no integration plan in place.

The bank also revealed that they have no plans to relocate their headquarters back to Catalonia from Alicante, where they moved to in 2017 due to political uncertainty. The upcoming regional elections in Catalonia do not seem to be causing concern among clients or investors, as business and politics are seen as separate entities.

Looking ahead, the bank’s focus is on profitability and consolidating the changes implemented under CEO César González-Bueno. The anticipated rate drop by the European Central Bank in the second half of the year poses a challenge for the sector, but Sabadell remains confident that it can offset the decline in interest margins with increased credit investment.

Overall, Sabadell is optimistic about the future, with plans for growth and internal profitability. They are committed to navigating the changing financial landscape and maintaining a strong position in the market.