Santander, BBVA and Sabadell relaunch personal banking to curb neobanks
Large banks are reinforcing their services to capture and retain clients with assets of between 100,000 and 500,000 euros, in the face of growing competition from digital banking.
Major Spanish banks such as Santander, BBVA, and Sabadell are refocusing on the personal banking segment, targeting clients with financial assets between €100,000 and €500,000. This shift is a response to the growing competition from digital banks like Trade Republic, Revolut, and MyInvestor, which have been gaining traction among clients with higher savings and investment capabilities.
Sabadell has created a new personal banking unit, led by Xavier Blanquet, while BBVA has rebranded its unit serving this segment as BBVA Premium and expanded its product offerings. Santander has also extended premium services to its Select branch, which caters to clients with assets from €100,000 or monthly payrolls over €3,000.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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