Over the weekend, the unification of the operating and technological systems was effected simultaneously along with the change of brand for both banks. With the absorption of Lloyds, the volume of business with foreign non-residents managed under the SabadellSolbank brand increases by 26%. The group's network in Galicia now extends to 145 branches and SabadellGallego's market share stands at 7%.

This weekend, Banco Sabadell successfully completed the final phase of the integration of Lloyds Banking Group España and Banco Gallego, having effected, between yesterday (Saturday) and today (Sunday), the unification of the operating and technological systems and the change of brand name.

Of the 28 branches that Lloyds Banking Group had in Spain, 7 are to be operated under the brand name SabadellSolbank, specialising in foreign non-resident customers of the bank, and the rest become part of the Banco Sabadell group. 

With the incorporation of Lloyds, SabadellSolbank increases its turnover by 26%, reaching 7.3 billion euros, with a 15% increase in its number of customers, now exceeding 400,000 and mainly originating from the UK and the centre and north of Europe. Under the brand SabadellSolbank, Banco Sabadell now has a commercial network of 108 branches and increases its market share in the non-resident foreign customers segment to 21%, thus consolidating its leadership there.

Banco Sabadell's experience in the sphere of banking for non-residents began in 1996 with the acquisition of the NatWest group in Spain. Subsequently, this business became Solbank (today SabadellSolbank), the brand and network devoted to non-resident Europeans located, mainly, in the Levante region (eastern coast), the Balearic Islands and the Canary Islands.

The agreement between Banco Sabadell and Lloyds crystallised on 8 July 2013. The value of the operation was established at 84 million euros and was settled through the delivery of 53.7 million Banco Sabadell shares, which made the Lloyds banking group a stable shareholder of the bank.

SabadellGallego, integration completed in five months

Banco Sabadell has also concluded the integration of Banco Gallego, a process that commenced in October 2013 and that has enabled Banco Sabadell to increase its share of branches in Galicia to 7%, reaching a business turnover of 4.2 billion euros and 210,000 customers.

The Banco Gallego branches in Galicia, which were renamed last October with the SabadellGallego brand name, have today been integrated into the group's technological platform, so that customers can now operate 100% with the tools and channels of Banco Sabadell. Moreover, the 28 branches of the bank that were still operating under the SabadellAtlántico brand name in Galicia also change their name to SabadellGallego. Meanwhile, the Banco Gallego network outside of Galicia has been integrated with the SabadellAtlantico brand.

By the end of the five months that the process has lasted, the group will have invested over 10 million euros in remodelling branches, changing the corporate image and renewing the Banco Gallego cash machines pool. It has also already devoted 80,000 hours to technological development and another 57,000 to staff training.

Main milestones of SabadellGallego:

October 2013

Conclusion of the acquisition. After the approval by the EU regulatory authorities, the acquisition is closed and a new board of directors is named.

October 2013

New commercial brand for customers in Galicia. SabadellGallego, new brand name for the commercial network.

October 2013

Successful swap of hybrids. Banco Sabadell achieves an acceptance rate of 97%  in the swapping of Banco Gallego hybrids for bonds convertible into shares.

November 2013

Advertising campaign. First SabadellGallego advertising campaign with the participation of famous Galicians: Carlos Núñez, David Cal and Silvia Jato.

March 2014

Technological unification. Branches and customers operate 100% within a Banco Sabadell technological environment.

 With the completion of the processes involving Lloyds and Banco Gallego, Banco Sabadell has now completed a total of 14 integration operations over the last 14 years.

 Banco Sabadell integrations between the years 2000 and 2014

  • Banco Herrero (2000)
  • Banco Atlántico (2004)
  • Banco Urquijo (2006)
  • TransAtlantic Bank of Miami (2007)
  • BBVA business in Miami (2008)
  • Mellon United Bank of Miami (2009)
  • Banco Guipuzcoano (2010)
  • Lydian Private Bank of Miami (2011)
  • Banco CAM (2012)
  • Banco BMN in Catalonia and Aragón (2012)
  • Banco Gallego (2013)
  • Spanish network of Lloyds Banking Group (2013)
  • Private banking business of Lloyds BG in Miami (2013)
  • JGB Bank of Miami (2013)
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