The Sabadell bank has announced that it will seek a buyer for its British subsidiary and will in future focus on the national market. The announcement was made following the breakdown of the talks for a merger with BBVA
The group has said that it will redeploy in the domestic market to improve profitability, following the breakdown of talks for a possible merger with BBVA.
This was stated on Friday by the Alicante-based entity, which for the first time has publicly acknowledged that it is seeking “strategic alternatives” for its international business, “including the sale of TSB.”
In other words, the bank has decided to pursue the search for a buyer for its British subsidiary, a task that Goldman Sachs is already be working on, which the Sabadell hired last summer to analyse its different alternatives for the future.