The Catalan bank Banc Sabadell reaches the 8% milestone by issuing 126.4 million new shares, which represent 10% of its capital. The movement is part of the bank’s strategy to strengthen its capital, foreseeing the future stress tests and the Basel III rules.
In reaction to the latest announcement from the Spanish Government, the savings bank Unnim is studying ways of becoming a bank. The financial institutions is waiting for the Spanish Government’s new rules for the financial entities regarding their solvency and their “core capital”.
The chairman of BAA Angela Knight urged savings banks to reconsider their strategy and find diverse ways to finance themselves. The insisted that narrowing the market to a single territory is increasing their exposure to the economic context.
The Catalan savings bank owed the 1.63% of the oil company Repsol. By selling all its stakes, it earned 448 million, which represents a profit of 186 million euros. The financial entity made this operation to increase its core capital, in order to be ready for the banking stress test.
The Catalan bank, Banc Sabadell, has an important presence in Florida, where its U.S. headquarters are located at the heart of Miami?s financial district. Banc Sabadell is Catalonia?s 2nd financial institution and the 4th in Spain.
Catalan savings banks continue to restructure