Spanish bank Banco Sabadell recently bolstered its business in Portugal with the launch of a branch in the country, aimed at expanding its presence globally while offering corporate banking services to Portuguese entities and Spanish businesses invested in Portugal.
After more than 25 years operating in Portugal, Banco Sabadell opened this unit in Lisbon in September 2018, which currently advises Spanish businesses on investment decisions in the Iberian country as well as Portuguese firms operating in those territories where Portuguese banking has not been traditionally present.
Sabadell Portuguese branch, located in Avenida da Liberdade, predicts to exceed a business volume of €1bn by 2022, the bank said in a statement. The office, led by Santiago Tiana, has a team formed by 12 experienced professionals in the Portuguese banking sector, with a focus on corporate banking, transaction's activities, trade finance, structured finance, treasury, and capital markets.
José Nieto, deputy general director and director of the Corporate and Investment Banking at Banco Sabadell, highlighted the knowledge and experience the bank has in Portugal, achieved over the past 25 years, and its commitment to develop "that in what is number one: corporate banking."