• CEO Marc Armengol stated that the goal is for "every customer to find in Banco Sabadell the best possible partner throughout their journey"
  • "Close and honest relationships are Banco Sabadell's hallmark, and the Bank is committed to preserving and strengthening them"
  • "The focus is clear: to meet the committed targets by improving profitability and generating capital sustainably, thereby creating increasing value and delivering attractive returns to shareholders"
  • The CEO reiterates that the adjustment to the share price resulting from the upcoming extraordinary dividend to be paid on 29 May "does not represent a loss of value, as it is transferred directly to shareholders"

27 May 2026

Banco Sabadell's CEO, Marc Armengol, explained that the Bank aims to become "even more customer-focused" in this new phase of transformation following his recent appointment. Speaking at the 21 IESE Banking event, he highlighted that the goal is for "every customer to find in Banco Sabadell the best possible partner throughout their journey", with the ultimate goal of "increasing profitability while remaining highly attractive to shareholders".

The CEO emphasised that the Bank is in an "excellent position" thanks to the transformation carried out in recent years, which has led to significant progress in digitalisation, profitability, market valuation and its ability to reward shareholders. After nearly 25 years at the Institution, Armengol stated that his goal is to "further strengthen the project and take it to the next level while maintaining a steady course".

"The focus is clear: to meet the committed targets by improving profitability and generating capital sustainably, thereby creating increasing value and delivering attractive returns to shareholders", he underscored. "My message is clear and unequivocal from the outset: we will meet our targets and honour our commitments", Armengol reiterated.

Strengthening Banco Sabadell's distinctive identity

Armengol explained that his objective is for Banco Sabadell to reinforce its position as a leading relationship bank, offering the best customer service and value proposition. In retail banking, the Institution will continue to modernise its model to compete "on equal terms with all players, while maintaining our key differentiator: the proximity of our branches and relationship managers".

"The Bank will become even more customer-focused, delivering higher service quality, a simpler and more agile organisation, greater leverage from technology and data, and capitalising on the differentiating strength of our team. Close and honest relationships are Banco Sabadell's hallmark, and the Bank is committed to preserving and strengthening them", he stressed.

Confirmed targets

The CEO also expressed "strong confidence" in achieving the targets set out in the 2025–2027 Strategic Plan, which he helped prepare. According to him, these are ambitious yet achievable targets, as evidenced by the positive market reception of the Bank's earnings for the first quarter of the year.

The confirmed targets include achieving a ROTE of 16% by 2027 and distributing an additional €2.5 billion to shareholders to be charged against 2026 and 2027 earnings, following the €1.45 billion distributed in 2025.

In addition, the Bank will distribute an extraordinary dividend of €0.50 per share this Friday following the sale of its UK subsidiary, TSB. This will amount to an additional €2.5 billion, bringing total shareholder remuneration for 2025-2027 to €6.45 billion.

TSB: a financially and strategically sound transaction

As is customary, Banco Sabadell's share price underwent a technical and automatic adjustment on Wednesday to reflect the fact that those purchasing shares from today are no longer entitled to receive the extraordinary dividend. CEO Marc Armengol stated that this adjustment "does not represent a loss of value, as the reduced share price is effectively transferred to shareholders". Therefore, the €0.50 per share is paid rather than being implicit in the share price.

Armengol went on to say that the sale of TSB has been an excellent transaction, generating more than 400 basis points of capital and €300 million in capital gains, while also being highly attractive to shareholders. He also highlighted its strategic importance, allowing Banco Sabadell to focus on Spain, one of the most attractive markets for investment.

The CEO also underscored that, even after the distribution of the extraordinary dividend, Banco Sabadell's project remains highly attractive. The Bank's share offers significant upside potential, as reflected in an estimated annual shareholder return of over 8%, the highest among its domestic peers. The Bank's price-to-earnings ratio is below 8x, compared with more than 10x for its peers.