Banco Sabadell's CEO, Marc Armengol, has stated that the entity has moved past the post-BBVA OPA phase and anticipates sustained revenue growth. He rules out mergers in the sector in the short term.
Banco Sabadell considers the phase of uncertainty following BBVA's OPA to be over. This was expressed by its CEO, Marc Armengol, during his first results presentation at the helm of the entity, held this Friday in Barcelona. The executive has forecasted upward results for the end of the fiscal year, with a clear recovery across all business segments.
Armengol noted that the Catalan bank has experienced a turning point in revenues, which he expects to continue increasing quarter by quarter, along with commissions. The CEO emphasized that the entity now has a greater focus on the Spanish market and the right scale to compete. “We are large enough to invest and generate returns for shareholders and small enough to make decisions quickly and stay close to our customers,” he stated.
When asked about potential acquisitions following the sale of TSB, Armengol was firm: “We are not studying anything nor are we going to study anything.” However, he admitted that some operations between medium-sized banks could make sense, as banking benefits from economies of scale. Regarding the Spanish sector, he ruled out major movements in the short term: “All banks see future possibilities that could yield profitability and there is no forecast of mergers occurring.”
The executive wanted to highlight the strong commercial momentum recorded in the second quarter of the year and assured that revenues and stock performance are going “like a shot.” He also expressed confidence in meeting the promised financial profitability for 2026 and 2027.
Armengol insisted that the business model will focus on relationship banking, supported by artificial intelligence. “AI can help the way we make decisions, which will improve the way we do banking,” he explained. The sectors where he sees the most growth potential are corporate banking, private banking, and personal banking. In personal banking, the entity is “very close to where they want to be.” “We want to compete in those sectors where we know we have the capacity to compete face to face, such as private banking,” he reiterated.
Regarding the investigation opened by the CNMC into Spanish banking for alleged anti-competitive practices, the CEO preferred to remain aloof and not make statements, as it is still an open process.
With these prospects, Banco Sabadell faces the second half of the year with optimism, trusting that the positive revenue trend and cost containment will improve results. The entity, based in Sabadell, continues to bet on its proximity banking model and technological innovation to gain efficiency.
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