Banco Sabadell

On 31 December 1881, a group of 127 businessmen and traders from Sabadell, in the province of Barcelona, founded the Bank with the purpose of financing local industries and providing them with raw materials 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 and computer were incorporated as new channels for communication and service prodivision. 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.

In 1996, Banco Sabadell started a new expansion phase, increasing its size and operating capacity.

Banco Sabadell went public in 2001 and became a member of the IBEX 35 in 2004.

Since 2007, the Bank has doubled in size and is currently Spain's fifth largest bank. Acquisitions include NatWest Spain, Banco Herrero, Banco Atlántico, Banco Urquijo, TransAtlantic Bank, Private Banking Business of BBVA , Mellon United National Bank, Banco Guipuzcoano, Lydian Private Bank, Banco CAM, Banco Mare Nostrum network in Catalonia and Aragon, Lloyds TSB Spain, Banco Gallego, Lloyds TSB Miami and JGB Bank.

On 5 October 2017, the board of Banco Sabadell decided in an emergency session to move their legal base to Alicante in response to growing political insecurity in Catalonia. A few days later, the bank decided to move its fiscal domicile to Alicante too.In December 2018, it was announced the selling of 80% of Solvia to Intrum.

Timeline

1881: Founded in Sabadell, province of Barcelona, on 31 December 1881.

1965: Territorial expansion.

1978: London, first branch of the international network.

1986: Remote banking.

1987: International branch in Paris.

1988: Created Sabadell Banca Privada.

1996: Acquired Banco NatWest España: Solbank project.

2000: Acquired Banco Herrero.

2001: Floated on the stock market.

2002–2004: Introduced multi-brand strategy.

2004: Acquired Banco Atlántico.

2004: Included in IBEX 35.

2006: Acquired Banco Urquijo.

2007: Acquired TransAtlantic Bank, Miami.

2008: Zurich, new Bancassurance partner.

2009: Acquired Mellon United National Bank .

2010: Founded Sabadell United Bank.

2010: Acquired Banco Guipuzcoano.

2010: New plan CREA 2010–2013.

2011: Launched SabadellGuipuzcoano brand.

2011: Acquired Lydian Private Bank .

2011: Selected as winning bidder for Caja de Ahorros del Mediterráneo .

2012: Acquired Caja de Ahorros del Mediterráneo .

2012: Banco Sabadell Urquijo BP creation.

2013: Acquired 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: Acquired JGB Bank .

2014: Banco Sabadell starts independent operation in Mexico.

2014: Triple announced.

2015: Acquired TSB, a retail bank based in the United Kingdom.