The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Spanish banks: Sabadell turns the corner after equity triumph

Just as international institutional investors bought into the Spanish recovery story this summer, Sabadell caught the moment with a €1.4 billion equity deal to shore up its balance sheet and provide for future loan growth. Two Latin American billionaire cornerstone investors ensured the deal’s success and drew other investors’ attention away from the Spanish banking sector’s problems and towards its prospects.

For the finance officials of mid-tier Spanish banks, IMF-World Bank meetings of recent vintage have been stressful occasions for fielding endless questions from concerned regulators, creditors and investors about the Spanish economy, the trend in their own banks’ non-performing loans and their access to funding and capital.

Last month, Alberto Coll, deputy chief financial officer of Banco Sabadell, speaking to Euromoney on his return from Washington, still sounded a little shaken by his encounters at this year’s meetings. It wasn’t the endless interrogations around asset quality, provisioning levels and market access that had surprised him this time: rather it was the frequent congratulations over a smartly structured €1.4

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree