Banco Sabadell returns to Catalonia yielding to Sanchez and the Catalan shareholders

Banco Sabadell, chaired by Josep Oliu, has called an extraordinary board meeting to decide on the return of its registered office to Sabadell, the city that gives the entity its name, just over seven years after moving to Alicante due to the political crisis stemming from the "procés." This move coincides with the analysis of the takeover bid launched by BBVA for Sabadell in 2024, an operation being evaluated by the CNMC and the CNMV, which could lead to the merger of several financial entities.
The relocation, which contrasts with Oliu's previous statements about stability in Alicante, marks a strategic shift for the entity. The headquarters in Alicante, located in the building that housed the Caja de Ahorros del Mediterráneo (CAM), was key for Sabadell after its departure from Catalonia in 2017. During these years, the city hosted the Shareholders' Meetings and witnessed the entity's growth. However, if BBVA's takeover bid materializes, the registered office of the resulting group wouldn't be in Alicante.
The Consell, led by Carlos Mazón, has shown respect for the business decision, ensuring that the entity's commitment to the Valencian economic fabric "remains intact." The regional government has insisted on guaranteeing employment, offices, and credit in the Community.

The mayor of Alicante, Luis Barçala, has expressed his "profound disappointment," calling the decision "incomprehensible." Barçala highlighted the support the city provided to Sabadell after its arrival and considered that the relocation represents a lack of recognition for Alicante's backing.

The president of the Confederación Empresarial de la Comunitat Valenciana (CEV), Salvador Navarro, lamented the loss this relocation represents for the local economy, highlighting the bank's contribution to the region's economic development over the past years.

Sabadell's return to Catalonia marks a milestone in its recent history, in a context of uncertainty due to the possible merger with BBVA and with significant implications for the regions involved.