Banc de Sabadell: A History of Success in the Financial Market

Banc de Sabadell has a rich history that spans over 130 years, dating back to 1881 when it was founded by Angel Feliu i Codina in Sabadell, a city in the province of Barcelona, Spain.

The bank's early years were marked by a focus on serving the local community, with a strong emphasis on providing financial services to small businesses and individuals.

In 1905, Banc de Sabadell became one of the first savings banks in Spain, offering a range of deposit accounts and loans to its customers.

Today, the bank is a leading financial institution in Spain, with a presence in over 40 countries worldwide.

Banco Sabadell was founded on December 31, 1881, by 127 entrepreneurs and merchants from Sabadell, led by the Gremi de Fabricants de Sabadell (Manufacturers' Guild). They created the bank to finance local industry and supply raw materials on more favorable terms.

The bank's initial share capital was set at 10 million pesetas, contributed by the 127 shareholders, the majority from Sabadell, with a handful from Barcelona and one from Barberà del Vallès. This capital was used to establish the bank and provide financial support to local manufacturers.

In its early years, Banco Sabadell not only offered traditional banking services but also engaged in other business activities, including buying and selling raw materials, importing machinery, and establishing electrical installations.

The story of BBVA and Banco Sabadell's attempted merger is one that repeats itself.

In 2020, BBVA tried to merge with Banco Sabadell, but it didn't work out.

The two banks had initiated a review process and even designated external advisors, but they couldn't agree on the price of the shares.

At that time, Banco Sabadell was struggling due to the pandemic, making it an attractive option for a merger.

BBVA, on the other hand, had just sold its US subsidiary for 9.7 billion euros, giving it a significant boost.

This time around, however, Banco Sabadell is in a stronger position, making it harder to reach an agreement.

In fact, on May 6th, Banco Sabadell rejected the merger proposal without even negotiating.

At the end of the 19th century, Sabadell was a bustling "factory city" with approximately 18,000 residents, 4,000 of whom were employed in the wool industry.

The city's industrialists specialized in financial operations, but no institution offered the long-term credit necessary for purchasing raw materials, such as wool imported from Argentina or Australia.

A group of 127 entrepreneurs and merchants from Sabadell, led by the Gremi de Fabricants de Sabadell (Manufacturers' Guild), founded Banco Sabadell on December 31, 1881.

The bank's initial share capital was set at 10 million pesetas, contributed by 127 shareholders, the majority from Sabadell, with a handful from Barcelona and one from Barberà del Vallès.

The bank's first office was located in the ground floor of the guild's building, and it initially engaged in traditional banking, as well as buying and selling raw materials, importing machinery, and establishing electrical installations.

Banco Sabadell decided to divest its non-banking activities and focus solely on commercial banking operations in 1907.

Banco Sabadell's company structure is quite complex, but let's break it down.

The bank has a subsidiary in Andorra, Banco Sabadell de Andorra, which focuses on affluent individuals and companies in the principality. It's owned by Banco Sabadell with a 50.97% stake.

Banco Sabadell also has a subsidiary called BanSabadell Fincom, which specializes in consumer finance and is 100% owned by the bank.

In addition to these subsidiaries, Banco Sabadell has a stake in Dexia Sabadell, a company that specializes in funding local government, with a 30% ownership stake.

The bank's international presence is also notable, with a commercial banking brand in the United States called Sabadell United Bank, which resulted from the acquisition of several banks in south Florida and the integration of TransAtlantic Bank.

Here are some of Banco Sabadell's key subsidiaries:

The Board of Directors plays a crucial role in shaping the company's direction and decision-making process.

The Chairman of the Board is Josep Oliu Creus, who oversees the entire board and ensures the company's goals are being met.

Javier Echenique Landiribar serves as the Deputy Chairman, providing support to the Chairman and helping to make key decisions.

Jaime Guardiola Romojaro is the Managing Director, responsible for the day-to-day operations of the company.

Here is a list of the other directors on the board:

Miquel Roca i Junyent serves as the Secretary to the Board, handling administrative tasks and ensuring the board's meetings run smoothly.

María José García Beato is the Deputy Secretary, supporting the Secretary and helping with the day-to-day tasks of the board.

The shareholder structure of a company is a crucial aspect of its overall organization.

About 37% of the equity is held by shareholders who own up to 120,000 shares.

The number of shares in this category is 4,024,460,614.

Shareholders who own more than 120,000 shares make up the remaining 63% of the equity.

There are 231,481 shareholders in this category.

Here's a breakdown of the shareholder structure by tranche:

Banco Sabadell has a diverse range of brands that cater to different customer needs. These brands are designed to provide specialized services to individuals and businesses in various regions of Spain.

SabadellAtlántico is the group's primary brand in the Spanish market, operating across the country except in SabadellGuipuzcoano and Banco Herrero territories. It focuses on commercial banking for individuals and companies.

SabadellGuipuzcoano is the group's brand in Navarre, La Rioja, and the Basque Country, focusing on commercial and corporate banking. Banco Herrero is the bank's only brand in Asturias and León, providing commercial banking services to individuals and companies.

Sabadell Solbank focuses on commercial banking for Europeans living in Spanish tourist areas, with branches in Mediterranean coastal areas and Spanish Islands. ActivoBank, on the other hand, caters to clients who operate exclusively electronically, using the internet and telephone.

SabadellUrquijo is the group's private banking unit, a merger of Sabadell Banca Privada and Banco Urquijo, with branches in main economic and wealth hotspots. SabadellGallego is the group's reference brand in Galicia, following the acquisition of Banco Gallego, focusing on commercial and corporate banking.

SabadellCAM is the group's reference brand in the Valencian Community and Murcia, following the Banco CAM acquisition, focusing on commercial banking.

Here is a summary of the main brands: