Banco Sabadell
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Banco Sabadell is a major Spanish bank headquartered in Barcelona. Together with Banco de Asturias, Sabadell Banca Privada, Banco Herrero, Solbank and ActivoBank, it is part of the Banco Sabadell Group, which is the fourth largest banking group in Spain after Santander Central Hispano, BBVA and Banco Popular. Sabadell has branches in London, Miami, Paris and the Cayman Islands, and representative offices in Frankfurt, Beijing, Havana, Guatemala, Teheran, Milan, Singapore, Mexico City, and Caracas.
History
- 1881: A group of local businessmen from Sabadell (Barcelona) founded the bank to finance local industry and supply it with raw materials such as wool and coal.
- 1907: Banco Sabadell exited its non-banking businesses to focus on commercial banking.
- 1975: Sabadell expanded beyond Catalonia by opening a branch in Madrid.
- 1978: Sabadell opened its first foreign branch, in London.
- 1988: Sabadell Group was formed.
- 1994: Banco del Bajío was established in León, Guanajuato, Mexico, and now is allied with Sabadell.
- 1995: Sabadell opened a representative office in Havana and a 50-50 joint venture - Financiera Iberoamericana - with Cuba’s Grupo Nueva Banca.
- 1996: Sabadell acquired National Westminster Bank’s operations and renamed them Solbank. Sabadell acquired Banco de Asturias.
- 1999: The Andorran government authorized the establishment of BancSabadell Andorra. It began operating in 2000.
- 2000: Sabadell established an alliance with Banco Comercial Portugués (BCP). BCP acquired 8.5% of Sabadell. Sabadell also entered into another alliance with La Caixa. La Caixa exchanged its shares in Banco Herrero for a 15% stake in Sabadell, making La Caixa Sabadell’s largest shareholder and giving Sabadell 99% of Herrero. (Banco Herrero,founded in 1911 in Oviedo, had acquired Banca Masaveu in 1984 from the failed Rumasa group, which had acquired Masveu in 1982. Masavaeu, also based in Oviedo, was about 140 years old at the time.)
- 2003: Sabadell merged Banco Asturias into Banco Herrero. Sabadell acquired Banco Atlántico from Arab Banking Corporation. Sabadell also sold its Geneva subsidiary, BanSabadell Finance to EFG Private Bank, part of the EFG Banking Group, the 5th largest in Switzerland in terms of capitalization.
- 2004: The Banco Sabadell Group adopted SabadellAtlántico as the new brand name of the commercial bank for the whole of Spain.
External link
- Banco Sabadell (http://www.grupobancosabadell.com/en/)