Banco de Sabadell to Prioritize Spanish Market in New Plan
November 27 2020 - 2:00AM
Dow Jones News
By Mauro Orru
Banco de Sabadell SA said Friday that it would prioritize the
Spanish market as part of a new plan aimed at increasing
profitability and creating value for shareholders, after talks over
a potential merger with Banco Bilbao Vizcaya Argentaria SA came to
an abrupt end.
The Spanish bank said it would unveil its plan in the first
quarter of 2021, but it expects it will include the expansion of
the transformation program in the Spanish retail market with a
neutral impact on capital.
Banco de Sabadell also said it would evaluate alternatives for
value creation with regards to the group's international assets,
including British lender TSB.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
November 27, 2020 01:45 ET (06:45 GMT)
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