Banco Sabadell

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Banco Sabadell, S.A.
Sociedad Anónima
Traded as BMADSAB
Industry Financial services
Founded Sabadell, Spain (December 31, 1881 (1881-12-31))
Headquarters Sabadell, Spain
Key people
Products Banking, bancassurance, asset management
Number of employees
17,529 (end 2013)
Website www.grupbancsabadell.com

Banco Sabadell, S.A. (Catalan: Banc Sabadell) is a banking group headquartered in Sabadell, Spain. It is the fifth-largest Spanish banking group.[1] It includes several banks, brands, subsidiaries and associated banks. It is a universal bank and specialises in serving SMEs and affluent individuals with a bias towards international trade.

The strategic lines of Banco Sabadell are set forth in its three-year strategic plans. In February 2014, Banco Sabadell started its 2014-2016 business plan, Triple, that aims to extract value from the customer base by leveraging its new size and margin-generating capability. The main goal of the 2014-2016 Triple Plan is profitability. Key themes of the new plan are transformation (transformation of the business, transformation of the production process and transformation of the balance sheet) and internationalization (laying the foundations for becoming more international in terms of structure, resources, etc. and entering new markets).

As of December 2014, the total assets of Banco Sabadell Group amounted to €163,346 million. It has a network of 2,320 branches (2,267 domestic and 53 international),17,529 employees and 6.4 million customers. It is quoted on the Madrid Stock Market (SAB) and forms part of the IBEX 35.

History[edit]

Banc Sabadell headquarters in Sant Cugat del Vallès

On 31 December 1881, a group of 127 businessmen and traders from Sabadell Barcelona founded the Bank with the purpose of financing local industry and providing it with raw materials (wool and coal) under more favourable conditions.

In 1907, Banco Sabadell began a new stage: it wound up the non-banking businesses to focus its activities on commercial banking. In 1953, in order to preserve the organisation's independence, the shareholders constituted a share syndication agreement.

In 1965 Banco Sabadell started its territorial expansion, slowly spreading to the nearby towns. In 1975, it started to expand beyond Catalonia, opening a branch in Madrid. In 1978, Banco Sabadell started the International expansion: the first branch abroad was opened in the heart of the City of London.

Banco Sabadell is well known for being a pioneer in bank computing in Spain. In 1968, it incorporated new technology in accounting and administrative processes. In 1986, it introduced remote banking: the telephone (FonoBanc) and computer (InfoBanc) were incorporated as new channels for communication and providing service to clients. In 1998, it launched BancSabadell Net, the first Internet banking service.

In 1988, Sabadell MultiBanca, subsequently known as Sabadell Banca Privada, a bank specialising in equity management and private banking was set up and the Banco Sabadell group was formed.

In 1996 Banco Sabadell started a new expansion phase, increasing its dimension and operating capacity. Since 2007 the Bank has doubled in size and become fifth bank in Spain. Since that moment, Banco Sabadell has acquired and integrated other entities to the Group (NatWest Spain, Banco Herrero, Banco Atlántico, Banco Urquijo, TransAtlantic Bank, Private Banking Business of BBVA (US), Mellon United National Bank, Banco Guipuzcoano, Lydian Private Bank, Banco CAM, Banco Mare Nostrum (BMN) network in Catalonia and Aragon, Lloyds TSB network in Spain, Banco Gallego, Lloyds TSB Miami and JGB Bank).

Banco Sabadell was floated on the stock market, in 2001 and became a member of the IBEX 35 in 2004.

Key dates[edit]

  • 1881: Founded in Sabadell, province of Barcelona, on 31 December 1881.
  • 1965: Starts territorial expansion.
  • 1978: London, first branch of the international network.
  • 1986: Introduction of remote banking.
  • 1987: New international branch in Paris.
  • 1988: Creation of Sabadell Banca Privada.
  • 1996: Acquisition of NatWest España: Solbank project.
  • 1998: Hired Mario Eskenazi to develop a new graphic/logo.[2]
  • 2000: Incorporation of Banco Herrero.
  • 2001: Floated on the stock market.
  • 2002-2004: Introduction of multi-brand strategy.
  • 2004: Acquisition of Banco Atlántico.
  • 2004: Inclusion in IBEX 35.
  • 2006: Acquisition of Banco Urquijo.
  • 2007: Acquisition of TransAtlantic Bank, Miami.
  • 2008: Zurich, new Bancassurance partner.
  • 2009: Acquisition of Mellon United National Bank (Miami).
  • 2010: Founding of Sabadell United Bank.
  • 2010: Acquisition of Banco Guipuzcoano.
  • 2010: New plan CREA 2010-2013.
  • 2011: Launching of the SabadellGuipuzcoano brand.
  • 2011: Acquisition of Lydian Private Bank (Miami).
  • 2011: Selected as winning bidder for Caja de Ahorros del Mediterráneo (CAM).
  • 2012: Acquisition of Caja de Ahorros del Mediterráneo (CAM).
  • 2012: Banco Sabadell Urquijo BP creation.
  • 2013: Acquisition of Banco Gallego and Lloyds Banking Group's retail and private banking business and the local investment management business in Spain, Lloyds Bank International. Lloyds is selling its loss-making Spanish operations for a 1.8% stake in Sabadell, worth about €84 million, plus an additional sum of up to €20 million euros over the next five years.
  • 2014: Acquisition of JGB Bank (Miami).
  • 2014: Banco Sabadell starts independent operation in Mexico.
  • 2014: New business plan Triple is presented to the market.

Brands[edit]

  • SabadellAtlántico: the group’s leading brand in the Spanish market. Present throughout Spain except in SabadellGuipuzcoano and Banco Herrero territories. Focused on commercial banking for individuals and companies.
  • SabadellGuipuzcoano: formerly Banco Guipuzcoano. The group’s brand in Navarre, La Rioja and the Basque Country. Focused on on commercial and corporate banking.
  • Banco Herrero: the bank’s only brand in Asturias and León. following the acquisition of Banco Herrero. Focused on commercial banking for individuals and companies. It is the top banking network in Asturias and one of the leading networks in León.
  • SabadellSolbank: Focused on commercial Banking for European individuals living in Spanish tourist areas. Branches in Mediterranean coastal areas and Spanish Islands. Lloyds Bank International was the trading name of Sabadell Solbank, owned by Banco Sabadell. The bank was established as Banco Halifax in 1993, as the Spanish subsidiary of Halifax. Banco Halifax became part of the Lloyds Banking Group in 2009 and was renamed Lloyds Bank International. Lloyds Banking Group reached an agreement in April 2013 to sell the bank to Banco Sabadell.[3] The Lloyds Bank name was used under temporary licence.[4] The bank was renamed Sabadell Solbank in November 2013, and was fully integrated into Sabadell on 15 March 2014.[5]
  • ActivoBank: Focused on clients operating exclusively online (internet and telephone).
  • SabadellUrquijo: Private banking unit, a merger of Sabadell Banca Privada and Banco Urquijo. Branches in main economic and wealth hotspots.
  • SabadellGallego: It is the group’s reference brand in Galicia, following the acquisition of Banco Gallego. Focused on commercial and corporate banking.
  • SabadellCAM: It is the group’s reference brand in the Valencian Community and Murcia, following the acquisition of Banco CAM. Focused on commercial banking.

Subsidiaries[edit]

  • Solvia: Focused on the Real Estate Activity of the group. It has concentrated all the servicing capabilities and keeps their Real Estate Investment Department, where strategies for foreclosed assets and real estate debt are defined, and implemented.
  • Banco Sabadell de Andorra: it is an entity established in the Principality of Andorra. Banco Sabadell has an ownership of 50,97% of the bank’s capital. It is focused to affluent individuals and to the main companies in the Principality of Andorra.
  • SabadellUnitedBank: commercial banking brand in the United States. Resulting from the acquisition of Mellon United National Bank in south Florida (15 January 2010) and the integration of TransAtlantic Bank (9 August 2010), acquired in 2007.
  • Dexia Sabadell: subsidiary specialising in funding local administrations. Ownership divided between Banco Sabadell (40%) and the Dexia Group (60%).
  • BanSabadell Fincom: Focused on consumer finance of individuals. 100% owned by Banco Sabadell.

Branch network[edit]

At the end of the year 2014 Banco Sabadell operates through 2,310 branches and has 17,529 employees.[2]

Banco Sabadell has also an international presence (53 branches) and representative offices in Argel, Peking, Caracas, Dubai, Istanbul, México DF, New York, New Delhi, Santo Domingo, São Paulo, Shanghai, Singapore and Warsaw.

Banco Sabadell also has subsidiaries and associated Banks in Andorra, United States, Portugal; and branches in London, Miami, Paris, Hendaye and Casablanca.

Board of Directors[edit]

The members of the Board of Directors of Banco Sabadell are:

Position Name
Chairman Josep Oliu Creus
Deputy Chairmen Javier Echenique Landiribar
Managing Director Jaime Guardiola Romojaro
Director Héctor María Colonques Moreno
Director Joaquín Folch-Rusiñol Corachán
Director Mª Teresa García-Milà Lloveras
Director Joan Llonch Andreu
Director David Martínez Guzmán
Director Aurora Catá Sala *
Director José Manuel Martínez Martínez
Director José Ramón Martínez Sufrategui
Director António Vitor Martins Monteiro
Director José Luis Negro Rodríguez
Director José Permanyer Cunillera

Secretary to the Board Miquel Roca i Junyent. Deputy Secretary María José García Beato.*To be ratified at the next shareholders' meeting .

Shareholder structure[edit]

By tranches (n. % of equity) Other information
Up to 120,000 shares 37% Number of shares 4.024.460.614
More than 120,000 shares 63% Number of shareholders 231.481

References[edit]

  1. ^ "TSB confirms £1.7bn takeover move by Spain's Sabadell". BBC News. 12 March 2015. Retrieved 14 March 2015. 
  2. ^ Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN 978-1-118-17176-9. 
  3. ^ "Lloyds to sell Spanish retail division to Sabadell". BBC News. 29 April 2013. Retrieved 29 April 2013. 
  4. ^ "Legal Documentation". Lloyds Bank International. 2013. Retrieved 19 September 2013. 
  5. ^ "Information on the integration process with Banco Sabadell". Banco Sabadell. February 2014. Retrieved 2 March 2014. 

External links[edit]