Banco Sabadell will strengthen Mexican branch
The financial group studies selling or merging the British subsidiary and redoubles the bet on the bank branch in Mexico
Banco Sabadell may not be oriented to internationalization. Indeed, the company founded in Spain, with more than a century of history, only has two subsidiaries abroad, one in the United Kingdom and one in Mexico.
The first agency was opened at the end of the 80s and the second one just two years ago. They want to sell the first one and boost the second one. The British market is altered by the Brexit and in the Mexican one the opportunities to develop a successful business are greater.
According to experts, Latin America is an interesting market, with an incredible potential that many companies are already accounting for.
The Banco Sabadell’s Mexican office is small, compared to those of other Spanish banks such as BBVA and Santander. However, the business in Mexico is experiencing rapid growth, said Josep Oliu, president of the entity.
The Sabadell model in the Latin country is that of digital banking focused on corporate clients, both companies and individuals. This is a segment with a lot to offer in the region.
L.Sáenz
Source: Al Navío
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