• The Madrid Welcome Hub is intended to help the Bank grow in this segment after a successful first experience in Barcelona, where the number of users has grown by 17%
  • The space, located on Avenida Alberto Alcocer in the Spanish capital, currently has a portfolio of more than 11,000 customers
  • The Institution uses these spaces to offer specialised services and exclusive advice in several languages in order to meet the needs of non-resident customers

30 May 2024

Banco Sabadell has opened its “Madrid Welcome Hub”, a new concept aimed at international customers that reinforces the Institution’s commitment to specialisation and the provision of support for this customer segment. 

The multidisciplinary space is located at number 18 Avenida Alberto Alcocer (Madrid). The new international branch boasts over 225 m2 and is staffed by 5 specialised professionals who speak various different languages and are there to help customers and partners of more than 40 nationalities.

“With this new space, Banco Sabadell is creating a key branch fully dedicated to meeting the specific needs of non-residents and expats in Madrid, as well as companies and international partners, thereby also serving as a meeting point that will be equipped with a specific product package for this group” explained the head of Banco Sabadell’s Central Territorial Division, José Manuel Candela. 

The presence of international firms and embassies, as well as a number of special resident visas for foreigners seeking to make significant investments (Golden Visa), all offer an opportunity for the Bank to grow in Madrid in this customer segment.

As part of this conversion process, the entire portfolio of international customers across 20 Banco Sabadell branches located in the centre of Madrid will be managed from this new refurbished space on Alberto Alcocer. In total, the location currently serves more than 11,000 customers, a figure that is expected to increase in the coming years.

The opening of the Madrid Welcome Hub comes after a well-received opening of the first specialised branch in Barcelona in 2022, in order to serve foreign customers in Spain who require specific assistance, advice and access to specialised relationship managers. The success of the exclusive international office in the Catalan capital is evident in the way the business has grown, reflected in a 17% increase in the number of customers, going from 9,800 to the current 11,500 users. Customer satisfaction is also up, alongside an increase in performing balances and the creation of opportunities in Private Banking, with a strategy that is now being replicated in Madrid.

In terms of customer profiles, they are predominantly expatriate executives in the personal banking and private banking portfolios who come mainly from France, United Kingdom, United States, Italy and Ireland, in addition to other countries such as Egypt, Israel, Germany, United Arab Emirates and the Netherlands.

Banco Sabadell is thus improving its value proposition to enhance customers’ experience. These new offices, which are larger in size and set up in strategic locations, aim to improve in-person service by combining private and collaborative spaces that seek to promote closeness and proximity.