Armengol (Sabadell): The bank is going to carry out a profound transformation of its operating model

Sabadell's CEO Marc Armengol has announced a major transformation of the bank's operating model at the EXPANSIÓN-KPMG Financial Encounter. The ambitious strategy plan is being drawn up by the current management team, which will succeed Caesar González-Bueno's plan, set to expire in December 2027. Armengol revealed that the bank plans to invest 500 million annually in technology, aiming to deeply transform its operating model.

Sabadell, known for its corporate banking, commands a 30% market share in export credit and a 20% share in the payments business, although its total credit share is smaller at 9%. The bank sees growth potential in many segments, particularly in understanding customer needs and innovating products. In retail banking, the bank aims to simplify processes to reduce costs and enhance services.

The wealth management segment, historically Sabadell's specialty, has only a 5% penetration in investment funds, despite nearly half of Spain's businesses being its clients. Armengol notes that it has recently hired Adela Martín, a former Santander executive, to boost presence in an area where the bank manages 80,000 million. The bank's dividend policy, which distributes between 40% and 60% of profits to investors, along with capital surplus above 13% CET1, remains sustainable as it is supported by a solid project and profitability.