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Sabadell delegates the sale of TSB to Goldman Sachs to focus only on Spain



Sabadell Bank will focus on Spain and has delegated to Goldman Sachs the sale of TSB in the United Kingdom after breaking with BBVA, after the board of directors decided, unanimously, end the conversations with BBVA as the parties have not reached an agreement on the eventual exchange ratio of the shares of both entities. His actions they go down hard after the breakdown of negotiations.

Sabadell will develop a new business plan that will prioritize the domestic market as a formula to increase efficiency in the use of the group's capital and resources, thus increasing profitability and creating value for shareholders

The main axes and objectives of the plan will be made public during the first quarter of 2021.

However, Banco de Sabadell has anticipated that it will contemplate, among other measures, the expansion of the efficiency and transformation program in the retail market in Spain -with neutral impact on capital- and will analyze with their advisors strategic alternatives for creating value with respect to the group's international assets, including TSB in the United Kingdom.

Sabadell has added that it will focus on these segments with the highest added value and profitability, and will implement its new plan improving both its efficiency and the organic generation of capital.



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