Sabadell Bank has ruled out any mergers or acquisitions to continue its growth in Spain. Despite rumors of a potential deal with Unicaja, the bank’s president, Joseph Oliu, stated that they are not interested in pursuing any inorganic operations or seeking partnerships at this time. The bank maintains relationships with its competitors but has no integration plans in place.
Sabadell Bank is optimistic about the regional elections approaching in Catalonia and believes that recent political instability will not significantly impact their clients or investors. Oliu emphasized that the bank’s focus is on profitability and consolidating the changes implemented under CEO César González-Bueno.
The European Central Bank’s expected rate cuts present a challenge for the banking sector in the second half of the year. Sabadell remains optimistic and believes that reduced interest margins can be offset by increased credit investment by households and companies. The bank aims to maintain profitability and continue implementing its growth and profitability plans. Oliu praised Bank of Spain Governor Pablo Hernandez de Cos and expressed regret over his upcoming term expiration, emphasizing the need for a successor capable of maintaining the institution’s reputation.
