Banco Sabadell
Encyclopedia
Banco Sabadell, S.A. is a major bank
headquartered in Sabadell
. Together with Banco de Asturias, Banco Urquijo, Sabadell Banca Privada, Banco Herrero, Solbank and ActivoBank, it is part of the Banco Sabadell Group, which is the fifth largest commercial bank
ing group in Spain after Banco Santander, BBVA, Bankia
and Banco Popular Español
. Sabadell has branches in London
, Miami and Paris
, and representative offices in Algiers
, São Paulo
, Beijing
, Shanghai
, Havana
, New Delhi
, Milan
, Singapore
, Istanbul
, Beyrouth, Santo Domingo
, and Mexico City
.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
headquartered in Sabadell
Sabadell
Sabadell is the second largest city in the comarca of the Vallès Occidental in Catalonia, Spain. It is in the south of the comarca, on the River Ripoll, 20 km north-west of Barcelona...
. Together with Banco de Asturias, Banco Urquijo, Sabadell Banca Privada, Banco Herrero, Solbank and ActivoBank, it is part of the Banco Sabadell Group, which is the fifth largest commercial bank
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
ing group in Spain after Banco Santander, BBVA, Bankia
Bankia
Bankia is a genus of ship-worms, marine bivalve molluscs of the family Teredinidae.-Species in the genus Bankia:* Bankia australis * Bankia bipennata * Bankia brevis...
and Banco Popular Español
Banco Popular Español
Banco Popular Español is the fourth largest banking group in Spain. The group consists of the following companies:*A national bank: Banco Popular Español...
. Sabadell has branches in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Miami and Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, and representative offices in Algiers
Algiers
' is the capital and largest city of Algeria. According to the 1998 census, the population of the city proper was 1,519,570 and that of the urban agglomeration was 2,135,630. In 2009, the population was about 3,500,000...
, São Paulo
São Paulo
São Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
, Beijing
Beijing
Beijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
, Shanghai
Shanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, Havana
Havana
Havana is the capital city, province, major port, and leading commercial centre of Cuba. The city proper has a population of 2.1 million inhabitants, and it spans a total of — making it the largest city in the Caribbean region, and the most populous...
, New Delhi
New Delhi
New Delhi is the capital city of India. It serves as the centre of the Government of India and the Government of the National Capital Territory of Delhi. New Delhi is situated within the metropolis of Delhi. It is one of the nine districts of Delhi Union Territory. The total area of the city is...
, Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
, Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, Istanbul
Istanbul
Istanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and...
, Beyrouth, Santo Domingo
Santo Domingo
Santo Domingo, known officially as Santo Domingo de Guzmán, is the capital and largest city in the Dominican Republic. Its metropolitan population was 2,084,852 in 2003, and estimated at 3,294,385 in 2010. The city is located on the Caribbean Sea, at the mouth of the Ozama River...
, and Mexico City
Mexico City
Mexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
.
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 ended its non-banking operations in order to focus on commercial banking.
- 1926: After an employee discovers problems with the bank's balance sheet and accounts, rumors start to fly. A run on the bank begins that the bank fends off due to some heroic measures.
- 1975: Sabadell expanded beyond Catalonia by opening a branch in MadridMadridMadrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
. - 1988: Sabadell Group was formed.
- 1994: Banco del Bajío was established in LeónLeón, GuanajuatoThe city of León, formally León de los Aldama is the sixth most populous city in Mexico and the first in the state of Guanajuato. It is also the seat of the municipality of León...
, GuanajuatoGuanajuatoGuanajuato officially Estado Libre y Soberano de Guanajuato is one of the 31 states which, with the Federal District, comprise the 32 Federal Entities of Mexico. It is divided in 46 municipalities and its capital city is Guanajuato....
, MexicoMexicoThe United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, 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 BankNational Westminster BankNational Westminster Bank Plc, commonly known as NatWest, is the largest retail and commercial bank in the United Kingdom and has been part of The Royal Bank of Scotland Group Plc since 2000. The Royal Bank of Scotland Group is ranked as the second largest bank in the world by assets...
’s operations in Spain and renamed many of the branches Solbank, which would then target British and other expatriates living in Spain. Sabadell acquired Banco de AsturiasAsturiasThe Principality of Asturias is an autonomous community of the Kingdom of Spain, coextensive with the former Kingdom of Asturias in the Middle Ages...
. - 1999: The Andorran government authorized the establishment of BancSabadell AndorraAndorraAndorra , officially the Principality of Andorra , also called the Principality of the Valleys of Andorra, , is a small landlocked country in southwestern Europe, located in the eastern Pyrenees mountains and bordered by Spain and France. It is the sixth smallest nation in Europe having an area of...
. It began operating in 2000. - 2000: Sabadell established an alliance with Banco Comercial PortuguêsBanco Comercial PortuguêsBanco Comercial Português , is a Portuguese bank that was founded in 1985 and is the largest private bank in the country. BCP is a member of the Euronext 100 stock index and its current chief executive officer is Carlos Santos Ferreira. BCP is based in Porto, but its operations are headquartered...
(BCP). BCP acquired 8.5% of Sabadell. Sabadell also entered into another alliance with La CaixaLa CaixaLa Caixa , formally Caixa d'Estalvis i Pensions de Barcelona , is currently Europe’s leading savings bank and Spain's third largest financial institution, with a network of over 5,500 branches, more than 8,100 ATMs, a workforce in excess of 27,000 and more than 10.7 million...
. 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 OviedoOviedoOviedo is the capital city of the Principality of Asturias in northern Spain. It is also the name of the municipality that contains the city....
, had acquired Banca Masaveu in 1984 from the failed RumasaRumasaRumasa was a holding company founded by Spanish entrepreneur José María Ruiz Mateos and expropriated by the Spanish government on February 23, 1983.In 1982 Rumasa constituted 2% of the Spanish GDP...
group, which had acquired Masaveu in 1982. Masaveu, also based in Oviedo, was about 140 years old at the time.) - 2003: Sabadell merged Banco Asturias into Banco Herrero. Sabadell acquired Banco AtlánticoBanco AtlánticoIn 2003 Banco Atlántico became part of the Banco Sabadell Group.-History:*1901: Shortly after Cuba achieved its independence from Spain, José and Francisco Nonell y Feliu, who had been running a Cambio in Cuba since 1885, moved their business to Barcelona...
from Arab Banking Corporation. - 2004: The Banco Sabadell Group adopted SabadellAtlántico as the new brand name of the commercial bank for the whole of Spain.
- 2006: Sabadell acquired Banco Urquijo S.A., Madrid, with 60 branches nationwide and around 10% market share in Spanish domestic private banking.
International Expansion
- 1891: Sabadell opens a branch in Buenos Aires. The branch is unsuccessful and the bank closes it in 1894.
- 1978: Sabadell opened its first 20th Century foreign office in London.
- 1986: Sabadell upgrades its LOndon Representative office to a branch.
- 1987: Sabadell opens three branches in France in ParisParisParis is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, RungisRungisRungis is a commune in the southern suburbs of Paris, France, in the département of Val-de-Marne.It is best known as the location of the large wholesale food market serving the Paris metropolitan area and beyond, the Marché d'Intérêt National de Rungis, said to be the largest food market in the...
(closed in 1996), and PerpignanPerpignan-Sport:Perpignan is a rugby stronghold: their rugby union side, USA Perpignan, is a regular competitor in the Heineken Cup and seven times champion of the Top 14 , while their rugby league side plays in the engage Super League under the name Catalans Dragons.-Culture:Since 2004, every year in the...
(closed in 2001). - 1988: Sabadell opens representative offices in New YorkNew YorkNew York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
(closed in 1994), and MilanMilanMilan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
. - 1989: Sabadell opens a representative office in GenevaGenevaGeneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...
(closed in 2001), and a finance company. - 1990: Sabadell opens a branch in ToulouseToulouseToulouse is a city in the Haute-Garonne department in southwestern FranceIt lies on the banks of the River Garonne, 590 km away from Paris and half-way between the Atlantic Ocean and the Mediterranean Sea...
(closed in 1997), and a representative office in Mexico CityMexico CityMexico City is the Federal District , capital of Mexico and seat of the federal powers of the Mexican Union. It is a federal entity within Mexico which is not part of any one of the 31 Mexican states but belongs to the federation as a whole...
. - 1991: Sabadell opens representative offices in BeijingBeijingBeijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
and SingaporeSingaporeSingapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. - 1993: Sabadell established an agency in Miami.)
- 1994: Sabadell established branches in LisbonLisbonLisbon is the capital city and largest city of Portugal with a population of 545,245 within its administrative limits on a land area of . The urban area of Lisbon extends beyond the administrative city limits with a population of 3 million on an area of , making it the 9th most populous urban...
and Oporto. Banco del Bajío was established in LeónLeón, GuanajuatoThe city of León, formally León de los Aldama is the sixth most populous city in Mexico and the first in the state of Guanajuato. It is also the seat of the municipality of León...
, GuanajuatoGuanajuatoGuanajuato officially Estado Libre y Soberano de Guanajuato is one of the 31 states which, with the Federal District, comprise the 32 Federal Entities of Mexico. It is divided in 46 municipalities and its capital city is Guanajuato....
, MexicoMexicoThe United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, and now is allied with Sabadell. - 1995: Sabadell opened a representative office in HavanaHavanaHavana is the capital city, province, major port, and leading commercial centre of Cuba. The city proper has a population of 2.1 million inhabitants, and it spans a total of — making it the largest city in the Caribbean region, and the most populous...
and a 50-50 joint venture - Financiera Iberoamericana - with Cuba’s Grupo Nueva Banca. - 1998: Sabadell established a branch in the Cayman Island (closed in 2003), and representative offices in Buenos AiresBuenos AiresBuenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
(closed in 2002), and CaracasCaracasCaracas , officially Santiago de León de Caracas, is the capital and largest city of Venezuela; natives or residents are known as Caraquenians in English . It is located in the northern part of the country, following the contours of the narrow Caracas Valley on the Venezuelan coastal mountain range...
. - 1999: Sabadell opened a representative office in MunichMunichMunich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
(which it moved to FrankfurtFrankfurtFrankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
in 2002). - 2000: Sabadell transferred its branches in Portugal to Banco Comercial Português, with which it had established an alliance. It also opened a representative office in Guatemala CityGuatemala CityGuatemala City , is the capital and largest city of the Republic of Guatemala and Central America...
(closed in 2005). - 2002: Sabadell opened its representative office in FrankfurtFrankfurtFrankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...
, which had moved from MunichMunichMunich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
, but which it closed in 2004. - 2003: 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. Sabadell upgraded its Miami agency to a branch, and made it the HQ for the Americas.
- 2004: The acquisition of Banco Atlantico brought Sabadell a branch in Lison (closed in 2005), and representative offices in BeirutBeirutBeirut is the capital and largest city of Lebanon, with a population ranging from 1 million to more than 2 million . Located on a peninsula at the midpoint of Lebanon's Mediterranean coastline, it serves as the country's largest and main seaport, and also forms the Beirut Metropolitan...
, BogotáBogotáBogotá, Distrito Capital , from 1991 to 2000 called Santa Fé de Bogotá, is the capital, and largest city, of Colombia. It is also designated by the national constitution as the capital of the department of Cundinamarca, even though the city of Bogotá now comprises an independent Capital district...
(closed in 2005), QuitoQuitoSan Francisco de Quito, most often called Quito , is the capital city of Ecuador in northwestern South America. It is located in north-central Ecuador in the Guayllabamba river basin, on the eastern slopes of Pichincha, an active stratovolcano in the Andes mountains...
(closed in 2006), SantiagoSantiago, ChileSantiago , also known as Santiago de Chile, is the capital and largest city of Chile, and the center of its largest conurbation . It is located in the country's central valley, at an elevation of above mean sea level...
, and São PauloSão PauloSão Paulo is the largest city in Brazil, the largest city in the southern hemisphere and South America, and the world's seventh largest city by population. The metropolis is anchor to the São Paulo metropolitan area, ranked as the second-most populous metropolitan area in the Americas and among...
. Sabadell also opened representative offices in AlgiersAlgiers' is the capital and largest city of Algeria. According to the 1998 census, the population of the city proper was 1,519,570 and that of the urban agglomeration was 2,135,630. In 2009, the population was about 3,500,000...
and New DelhiNew DelhiNew Delhi is the capital city of India. It serves as the centre of the Government of India and the Government of the National Capital Territory of Delhi. New Delhi is situated within the metropolis of Delhi. It is one of the nine districts of Delhi Union Territory. The total area of the city is...
. - 2005: Sabadell opened a representative office in ShanghaiShanghaiShanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
. - 2006: Sabadell sold the Panamanian subsidiary that it had acquired when it acquired Banco Atlántico - Banco Atlántico Panama - to Panama's Banco Continental. Sabadell also opened a representative office in IstanbulIstanbulIstanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and...
. - 2007: Sabadell bought TransAtlantic Bank, a South Florida Bank that started in 1984.
- 2010: Mellon United National Bank, which was formed in Miami in 1978, became part of Banco Sabadell. The legal name of the bank, with fifteen offices in Miami-Dade, Broward and Palm Beach Counties has been changed to Sabadell United Bank.