Banco Sabadell sends a message of calm to the market after the sharp falls suffered on the stock market in the days of greatest tension due to the outbreak of the recent banking crisis. Sources from the entity, which is holding its general shareholders’ meeting in Alicante this Thursday, acknowledge that if this situation “had occurred two or three years ago”, the situation would have been different. But after these last restructuring exercises, “our current liquidity and solvency ratios are beyond doubt.”
During a meeting with journalists prior to the meeting, the bank’s president, Josep Oliu, recalled that “SVB’s problem has not only been management, but also supervision, and it is very difficult for this to happen in Europe.” The bank’s CEO, César González-Bueno, also ruled out the risk of contagion, insisting: “We have no exposure to Credit Suisse” nor are they considering buying its private banking business in Spain, a segment in which Sabadell aspires to continue growing.
“Our deposits are guaranteed at levels well above 60%,” recalled the manager. And in similar lines they move in the rest of the sector. In addition, they recall that the entity sold a large part of its debt portfolio to face the recent restructuring process, so its exposure to possible latent losses due to the rise in interest rates is very limited.
Sabadell also rules out a possible rise in non-performing loans in the medium term in the current uncertain environment. “We not only monitor non-payments, we also follow indicators such as clients who stop collecting their payroll or where the risks of non-payment increase and we do not observe any deterioration,” they insist, recalling that, however, there are still many loans to be repriced in the segment of mortgages.
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