economy
Banc Sabadell plans overseas expansion
Banc Sabadell aims to become the 4th bank in Spain in the coming years according to chairman Josep Oliu who was speaking at a lunch with journalists in Alicante, where the bank yesterday held its first shareholders meeting since leaving Catalonia. The master plan envisaged by the Bank for the years 2018-2020 includes the development of international franchises. Oliu’s comments were backed by the CEO Jaume Guardiola who added that “In the UK, in addition to maintaining the strong growth of current business, we wish to take advantage of the excellence of the new platform to realize significant synergies, improve efficiency and launch a new line of business: banking on SMEs“. The SME sector in the UK is currently the fastest growing area of the economy and the bank is prepared to provide the services necessary to attract clients in that area. Sabadell is also looking to expand in Mexico.