banking

Business

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.

Business

1st China Construction Bank branch in Spain opens in Barcelona; trade deal with Fujian signed

July 3, 2015 08:47 PM | ACN

The month of July started with the strengthening of Catalonia's business and economic relations with China. On Wednesday, China Construction Bank Corporation (CCB) - the second largest bank in the world by market capitalisation (207.9 billion U.S. dollars) - opened its first Spanish branch in the Catalan capital with an official ceremony at the Palace of Pedralbes. The same day, the Catalan Government signed an agreement with the Chinese Province of Fujian, aimed at expanding export opportunities for Catalan agricultural products and promoting the exchange of market and legal information between the two partners.