Introduction to Banco Sabadell Mexico and its Strategic Focus
Albert Figueras, Director of Banco Sabadell Mexico, emphasizes the bank’s primary objective: to continue expanding and capturing more market share in Mexico. Since 2016, the bank has been operating as a full-fledged entity in Mexico, with over three decades of presence in the country. Today, Banco Sabadell Mexico ranks among the leading banks in terms of assets, with over 100,000 million pesos in credit.
BBVA’s Hostile Takeover Attempt in Spain
While Banco Sabadell Mexico focuses on growth, its parent company, Banco Sabadell, is entangled in a hostile takeover attempt in Spain. BBVA, another Spanish bank, initiated this process in May 2024 to acquire the Catalan bank. Although BBVA has received some approvals in Spain and from European regulators, the final phase remains pending, along with the acceptance of the offer by Sabadell’s shareholders.
Key Sectors of Focus in Mexico
Banco Sabadell Mexico primarily targets large corporations and businesses, particularly in the hospitality sector along popular beach destinations like Cancun, Riviera Maya, and Los Cabos. Figueras highlights that 2024 was a successful year for the bank in these sectors, as well as in real estate. Looking ahead, the bank anticipates growth opportunities in infrastructure and energy sectors, which are part of the Mexico Plan presented by the Federal Government earlier in 2024.
Mexico Plan and its Impact
Figueras acknowledges that the Mexico Plan is promising, but its progress has been hindered by global and local volatility, especially due to the United States’ tariff policies. He expects the plan to materialize in 2026, with Banco Sabadell actively participating in energy projects, a sector where the bank has established expertise in Europe.
Challenges and Opportunities
Figueras notes that certain factors, such as the current tariff climate, have slowed some investment projects. However, he points out that Mexico has been less affected compared to other countries and highlights its geographical advantages, demographics, and the ongoing T-MEC review. He remains optimistic about 2026 and 2027 being favorable years for the country, should the Mexico Plan initiatives succeed.
BBVA’s Hostile Takeover Attempt and its Impact on Mexico Operations
Figueras clarifies that BBVA’s hostile takeover attempt in Spain does not affect Banco Sabadell Mexico’s daily operations. The process is in its final authorization phase in Spain, with the Spanish Council of Ministers expected to issue a ruling by month’s end. However, shareholder acceptance of the offer remains crucial.
Shareholders’ Decision and Banco Sabadell Mexico’s Performance
Figueras stresses that the bank is concentrating on its results, which have demonstrated Banco Sabadell Mexico’s growth over the past five years and its status as the bank providing the highest dividends in Spain relative to competitors. He believes that shareholders will weigh these factors if the takeover attempt reaches that stage.
Key Questions and Answers
- What is Banco Sabadell Mexico’s primary focus? The bank aims to expand and gain more market share in Mexico by serving large corporations, especially in the hospitality sector.
- How does BBVA’s hostile takeover attempt in Spain affect Banco Sabadell Mexico? The process does not impact the bank’s daily operations in Mexico, as it is in its final authorization phase in Spain.
- What sectors does Banco Sabadell Mexico anticipate growth in? The bank expects growth opportunities in infrastructure and energy sectors, as outlined in the Mexico Plan.
- When does Banco Sabadell Mexico expect the Mexico Plan to materialize? The bank anticipates the plan’s successful implementation by 2026.
- How has Banco Sabadell Mexico performed in recent years? The bank has shown consistent growth and offers the highest dividends among Spanish banks, according to Figueras.
