banc sabadell

Barcelona Conde de Godó attracts world number one singles and doubles players

April 26, 2017 07:48 PM | ACN / David Riol

The 65th edition of the Barcelona Open Banc Sabadell -commonly called the Conde de Godó tournament- has begun this weekend and runs through until the 30th April. The tournament goes back a long way as it was held for the first time in 1953. The competition is organized by the Barcelona Royal Tennis Club (RCTB) and has a big impact on the city of Barcelona and the European clay court circuit given the presence each year of club member Rafael Nadal. In this 2017 edition, the Godó can count on the presence of world number one Andy Murray and Henri Kontinen, the leading players on the ATP single and doubles rankings respectively.

Banc Sabadell nearly doubled its profits in 2015 after integrating UK bank TSB

January 29, 2016 04:31 PM | ACN

The Catalan banking group Banc Sabadell earned €708.4 million in 2015, according to figures published by the company. This result is 90.6% higher than that obtained in 2014. The good result of Banc Sabadell in 2015 is mainly due to the integration of the UK bank TSB in June, which added accounts worth €122 million. Without this operation, Banc Sabadell’s net profits would only had grown by 57.8%. Thus, net interest income, which measures the bank’s ordinary activity of receiving deposits and authorising credit, was €3.203 billion, 41.7% higher than in 2014. The internationalisation of Banc Sabadell has already been consolidated and 32% of the credits were authorised abroad. In 2014, this percentage was 6%. The default rate, which has dropped to 7.79%, 5 points less than in 2014, also contributed to Banc Sabadell’s positive result.

Banc Sabadell acquires 100% of TSB shares

August 21, 2015 04:16 PM | ACN

The Catalan bank Sabadell has completed the process of compulsory acquisition of all TSB Banking Group (TSB) shares, thereby taking ownership of 100% of this British entity’s share capital. The move completes the takeover started last spring, when TSB accepted the 1.7bn-pound offer made by Banc Sabadell. Through buying TSB, Banc Sabadell has expanded its international presence, with its percentage of foreign assets growing from 5% to 22%. TSB has 631 branches, 4.6 million customers and 8,600 employees in the United Kingdom.

Catalan banking group Sabadell has already bought 81.23% shares of British TSB bank

May 11, 2015 04:47 PM | ACN

Last April, Banc Sabadell filed a takeover offer on 100% of the shares of the UK lender TSB, partially owned by LLoyds. On Monday, the Catalan bank announced it had already exceeded the 75% minimum bid of the takeover offer, reaching 81.23% of TSB shares. However, this percentage is still likely to increase in the upcoming days, since there are 14 remaining days till the end of the takeover's acceptance period. In order to fund the transaction, the Catalan corporation will carry out a €1.61 billion capital increase (€1,607 million). Current shareholders have a preference call in this capital increase. Banc Sabadell, is one of the few banks to emerge stronger from a financial crisis that has redrawn Spain’s banking sector. Unlike many of its Spanish rivals, the bank is in good shape reporting a 50% increase in annual profits at the end of 2014 to €371.7 million. Since 2007, it has doubled in size and is now Spain’s 5th largest bank. It achieved this mainly through an energetic programme of acquisitions in Spain and abroad. 

Banc Sabadell approves takeover of UK bank TSB for €2.4 billion after increasing capital by €1.6 billion

March 20, 2015 09:22 PM | ACN

Last week, TSB announced Banc Sabadell's interest in purchasing all of the shares of the British bank, which is partially owned by Lloyd's. The board of the 6th largest bank in the United Kingdom then said they would welcome the Catalan bank's takeover bid, which they set at £3.40 per share (equivalent to €4.80). This meant that Banc Sabadell would buy TSB for £1.7 billion, or €2.4 billion. At that time, the Catalan bank denied any definitive agreement had been reached and simply confirmed that there were some talks in progress. A week later, Banc Sabadell has finally announced and approved the takeover bid, on the same terms released last week. In order to fund the transaction, the Catalan corporation will carry out a €1.6 billion increase in capital. This purchase will significantly strengthen Banc Sabadell's internationalisation, dramatically increasing its presence in the UK and in London's financial circles.

Banc Sabadell may buy UK bank TSB, partially owned by Lloyds

March 12, 2015 09:04 PM | ACN

TSB, which is the seventh-largest bank in the United Kingdom, confirmed on Wednesday that they have received a preliminary takeover bid of £1.7 billion (equivalent to €2.35 billion) filed by Banc Sabadell. The Catalan bank would have offered £3.40 per share (€4.80) and would be ready to buy the entire British financial entity, 50% of which is still owned by Lloyds. Sources from Sabadell have confirmed takeover talks, but they stressed that they are still preliminary in nature. After the news was released, shares of TSB increased by 26.4% while those of Banc Sabadell dropped by 7.5%, causing the Spanish Stock Exchange Authority (CNMV) to temporarily suspend trading in the Catalan bank. When Banc Sabadell returned on the stock market, its shares continued to decrease, dropping by 10.5%, but they partially recovered and ended the day with a 6.6% loss.

All Catalan banks pass European Banking Authority stress test with a wide margin

October 27, 2014 07:37 PM | ACN

The Catalan banking system boasts a strong image after the publication on Sunday of the 2014 EU-wide stress test results, issued by the European Banking Authority (EBA). All the financial entities based in Catalonia have sailed through the EBA stress test, showing they could face the most adverse economic developments with only their own resources. In the most difficult scenario, Barcelona-based CaixaBank – which is the largest bank in the Spanish market – reached a 9.3% equity ratio (CET1), Banc Sabadell got an 8.3% and Catalunya Banc an 8%. The minimum required was 5.5%, which was not reached by 24 of the 123 European banks analysed. Only one Spanish entity, Madrid-based Liberbank, would need additional capital in the worst case scenario.

Banc Sabadell completes the acquisition of the US JGB Bank in Florida for $36 million

July 15, 2014 04:53 PM | ACN

Sabadell United Bank, the US subsidiary of Catalan Banc Sabadell, has strengthened its position in Florida, purchasing JGB Bank of Miami for 49.6 million dollars (€36.45 million). The Catalan company, chaired by Josep Oliu, has informed the Spanish Spanish Stock Market Authority (CNMV) about this operation on Monday. With the integration of JGB Bank, Sabadell United will become a benchmark in the U.S. state of Florida with a total of 40,000 clients, a turnover of close to 8,000 million dollars (€5,876 million) and 27 branches. The operation began in December and now, in July, the bank has received the necessary authorisation from regulatory bodies within schedule.

Investors are confident Spain and Catalonia will reach “an agreement” to avoid independence, says chairman of Banc Sabadell

July 3, 2014 05:06 PM | ACN

Josep Oliu admitted in an interview that the bank “does not have a plan B” in case of a break-up of Catalonia from Spain. The chairman of the Catalan financial institution admitted that they do not contemplate the independence of Catalonia as a feasible scenario. “Reaching agreements, changing some things, giving in a bit, trying to find a settlement suitable for everyone, that’s what we are all hoping for”, Oliu said. Commenting on the state of the economy, the banker regretted that politicians in government in Spain and Catalonia seem to be “ashamed” of the economic policies that they are introducing, when they should “explain to people that they are reasonable”.

Kei Nishikori wins Barcelona Open Banc Sabadell 2014

April 29, 2014 01:49 PM | Anders Ballegaard

The Japanese tennis player wins his first Godó Trophy in the 62nd edition of the tournament. Kei Nishikori, ranked 17th in the world, clinched his first clay court title after beating Columbian sensation Santiago Giraldo in straight sets and ascending five spots on the ATP rankings at the Barcelona Open Banc Sabadell. After just an hour and thirteen minutes of play the fourth seed defeated his opponent 6-2, 6-2, becoming the first Japanese player to win the title. The Asian no. 1 becomes the first non-Spanish tennis player to lift the trophy in twelve years. A surprising turn of events saw several high profile players exit early in both the Men’s Singles and Doubles Championship. The Men’s Doubles surprised the crowd as Dutchman Jesse Huta Galung and French player Stéphane Robert paired up on Friday amazingly clinched their first title.

Rafa Nadal competes for his 9th Godó Trophy against a strong lineup in Barcelona Open Banc Sabadell

April 23, 2014 01:29 PM | Anders Ballegaard

This week the ATP World Tour 500 series is in Barcelona for the 62nd  edition of the Conde de Godó Trophy, officially named Barcelona Open Banc Sabadell 2014. Rafael Nadal is the defending champion looking to retain his title, but the world no. 1 faces tough competition as the tournament features a strong lineup of some of the best clay court specialists in the world including fellow compatriot and four time finalist David Ferrer, one of the strongest contenders for the title. The lineup also includes former local resident Fabio Fognini, ranked 13th in the world and also a member of Real Club de Tennis Barcelona.

Catalan President urges employers “to work together” on the economic recovery and self-determination process

February 14, 2014 08:19 PM | ACN

The President of the Catalan Government, Artur Mas, has called on employers “to work together” on 3 objectives: lifting the economy, ensuring social cohesion through Welfare State public policies and driving forward the political process on Catalonia’s future. On Friday, Mas addressed over a hundred major employers in Catalonia at the Tower Sabadell, during the presentation of the book Capitans d'indústria (which would read as ‘Captains of industry’), written by journalist Francesc Canosa and Farran. During the event, the President of Banc Sabadell, Josep Oliu, called for a “stable political environment” and “peace of mind” so that employers could “focus” all of their energy on their businesses.

Banc Sabadell triples its net profit in 2013

January 23, 2014 07:23 PM | ACN

Banc Sabadell, the second largest banking company in Catalonia, has ended 2013 with a net profit of €247.8 million, three times more than in 2012, after consuming €1,736.6 million in provisions and allowances for non-payments of loans, impairment of property and other financial operations. Due to the new regulations of the Bank of Spain on credit repayment and the acquisitions of other banking companies, the percentage of delayed or unpaid loans has climbed to 13.63%, 46% more than in 2012. Without the refunding operations, it would have been fixed at 11.13 %. The bank’s core capital, which is the main solvency indicator, stood at 12% and, with the new Basel III, it was set at 10.1%. Jaume Guardiola, CEO of Sabadell, believes that this trend can be the “turning point” of a crisis that was first anticipated when the results for 2012 were announced.

Catalan Banc Sabadell concludes the integration of Caixa Penedès’ business and becomes Spain’s 4th largest bank

October 14, 2013 09:54 PM | ACN

Banc Sabadell has managed to integrate the entire network of Caixa Penedès’ branches in Catalonia and Aragón, as well as all the technological and operational platforms. With this last integration, Banc Sabadell has €170 billion in assets, around 6 million clients and 12% of Spain’s banking branches. This means that the Catalan bank is now the 4th largest retail financial entity in Spain, after the Barcelona-based CaixaBank, Santander and BBVA. Banc Sabadell bought Caixa Penedès’ banking business in Catalonia and Aragón to Banco Mare Nostrum (BNM) in May. In only 5 months, Banc Sabadell has added 376 branches to its network, along with 545 million client registers and 900,000 clients. In the last year, the Catalan bank has doubled the size of its network, since it also integrated the Caja de Ahorros del Mediterráneo (CAM) network.

Catalan Sabadell Bank approves a capital increase of €1.4 billion

September 10, 2013 07:53 PM | ACN

The Board of Directors of Catalonia-based Banc Sabadell has approved a capital increase operation of €1.4 billion. The transaction will take place in the form of two consecutive increases in order to “strengthen capital and allow new important shareholders to join the bank aiming [to reinforce] the future internationalisation process of the bank”. The decision by Sabadell, Spain’s fifth largest bank, to carry out this operation was taken after finding out about the “growing interest” of international investors to acquire stable assets of the Catalan financial entity. It is expected that at least €1.33 billion will be attracted, which will subsequently make Banc Sabadell to one of the best capitalised banks in Europe with a core capital beyond 11%.