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Banco Sabadell will focus its new three-year plan on digital transformation

In the 2018-2020 three-year plan, Banco Sabadell will seek a profound digital transformation and the consolidation of its three major markets, Spain, the United Kingdom and the Americas, reported today. CEO of the group, Jaime Guardiola.

Mexico, November 9 (EFE) .- Banco Sabadell will seek a profound digital transformation and the consolidation of its three major markets, Spain, the United Kingdom and Spain in the three-year plan 2018-2020. America, the group's CEO, Jaime Guardiola, informed today.

From Mexico City, where he presented his 100% digital personal banking project in the Latin American country, Guardiola said that the Spanish firm will seek in the next triennial business plan, which will be officially presented at the end of the year, a digital "adaptation or transformation".

Ello will force the entity to an additional investment in this area, in order to guarantee a "very elastic" offer to its customers.

In this way, this bank founded in 1881 has the challenge of "being able to access a new market "growing" and "more demanding".

From 2014 to 2016, the fourth financial institution in Spain launched the so-called Triple Plan (Transformation, Profitability and Internationalization), where digitization also played an important role.

Guardiola explained that, after a 2017 "transition", starting in 2018 they also have the challenge to grow its three main markets.

In Spanish, this bank expects to grow thanks to its anchorage and pushed by the end of the economic crisis and certain "visibility by the rise in interest rates in the medium term ".

In addition, Guardiola trusted that the political crisis in Catalonia will only mean a" transitory shock "in the Catalan economy and Spanish, and elections to the Catalan Parliament in December will serve to "stabilize the situation".

In the United Kingdom, said that despite the "Brexit", the country "continues to grow" and the Sabadell - acquired by the British TSB Banking Group in 2015 - has the challenge of entering into business banking, its "natural vocation".

Finally, in the American market they have unit in Miami (USA) and a "big and strong" bet for Mexico.

In this country they presented today this 100% digital personal banking project, an innovative program in which all the operations will be carried out by smart phone and that will start operating in January 2018 after an investment of 450 million pesos (about 23.6 million dollars).

This initiative will be strengthened with the expansion of services and an investment in the next three years of 750 million pesos (about 39.2 million dollars), and is a "milestone" for the entity, said the director general of the entity in Mexico, Francesc Noguera.

"Mexico is a great opportunity, a country destined for success," added Guardiola.

The CEO He affirmed that the country benefits from its demographic bonus, from years with orthodox policies in the economic field, a debt over the GDP below 50% and a public deficit "reasonable".

When Sabadell has a "long-term" project in the country, it does not see major problems in the current uncertainty generated by the renegotiation of the Free Trade Agreement. North America (NAFTA) or the presidential elections of 2018.

"We continue to see the country exactly the same, regardless of any situation that may occur during these years. political transition (...) and the somewhat complex relations with the United States, with reason of the unique president who has, "he said.

In the first nine months of the year, the Sabadell obtained a net profit of 653.8 million euros, 1.1% more than in the same period of 2016.

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