Banco de Sabadell
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| Sociedad Anónima | |
| Traded as | BMAD: SAB |
| Industry | Financial services |
| Founded | Sabadell, Spain (December 31, 1881) |
| Headquarters | Sabadell, Spain |
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Key people
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| Products | Banking, bancassurance, asset management |
| Total assets | €208.6 billion (2016) |
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Number of employees
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26,090 (2016) |
| Website | www |
Banco de Sabadell, S.A. (Catalan: Banc Sabadell) is a banking group headquartered in Sabadell, Spain. It is the fifth-largest Spanish banking group. It includes several banks, brands, subsidiaries and associated banks. It is a universal bank and specialises in serving small and medium enterprises (SMEs) and the affluent with a bias towards international trade.
As of January 2016, the total assets of Banco Sabadell Group amounted to €208,628 billion. It has a network of 2,873 branches (2,204 domestic and 669 international), 26,090 employees and 11.4 million customers. It is quoted on the Bolsa de Madrid and forms part of the IBEX 35.
In February 2014, Banco Sabadell started its 2014-2016 business plan, Triple, that aims to leverage 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 and resources and entering new markets).
On 31 December 1881, a group of 127 businessmen and traders from Sabadell Barcelona founded the Bank with the purpose of financing local industries and providing them with raw materials (wool and coal) under more favourable conditions.
In 1907, Banco Sabadell began a new stage: it ended its non-banking businesses to focus on commercial banking. In 1953, in order to preserve the organisation's independence, the shareholders created a share syndication agreement.
In 1965, Banco Sabadell slowly spread to nearby towns. In 1975, it expanded beyond Catalonia, opening a branch in Madrid. In 1978, Banco Sabadell expanded internationally, initially in the City of London.
The bank is a pioneer in bank computing in Spain. In 1968, it automated accounting and administrative processes. In 1986, it introduced remote banking: the telephone (FonoBanc) and computer (InfoBanc) were incorporated as new channels for communication and service providision. In 1998, it launched BancSabadell Net, Spain's first Internet banking service.
In 1988, Sabadell MultiBanca, later Sabadell Banca Privada, opened, specialising in equity management and private banking and the Banco Sabadell group was formed.
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Wikipedia