Key Developments: Banco de Sabadell SA (SABE.MC)

SABE.MC on Madrid SE C.A.T.S.

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Latest Key Developments (Source: Significant Developments)

Banco de Sabadell subsidiary mandates Fidentiis to place 4.67 pct stake in Fluidra
Friday, 4 Jul 2014 11:51am EDT 

Banco de Sabadell SA:Says its wholly owned subsidiary, Bansabadell Inversio Desenvolupament SA, has mandated Fidentiis to place 5,259,599 shares of Fluidra, representing 4.67 percent stake.Sale to be carried out through accelerated book building process among qualified investors.  Full Article

S&P upgrades its long-term rating outlook on Banco de Sabadell to positive
Wednesday, 4 Jun 2014 01:49pm EDT 

Banco de Sabadell SA:Standard & Poor’s Ratings Services has upgraded its long-term rating outlook on company to positive from negative.S&P has affirmed its long and short-term credit ratings on company at BB and B, respectively.Subordinated debt rating has been changed to B from B- and preference shares rating has been changed to CCC+ from CCC.  Full Article

Banco de Sabadell completes reorganisation of its insurance business and strengthens alliance with Zurich; creates BanSabadell Mediacion
Monday, 19 May 2014 08:00pm EDT 

Banco de Sabadell SA:Reaches agreement with Zurich once again becoming bank sole partner in sale of life assurance, general insurance and pension plans in Spain.Under terms of agreement all companies in Banco Sabadell-Zurich joint venture have once again become sole suppliers of life assurance, general insurance and pension plans for the entire branch network of Banco Sabadell in Spain.Companies in Banco Sabadell-Zurich joint venture include BanSabadell Vida, BanSabadell Seguros Generales and BanSabadell Pensiones.Banco Sabadell has completed reorganisation of its insurance business, incorporating insurance business and firms inherited in bank consolidation process entailed in its acquisition of Banco CAM, BMN business in Catalonia and Aragon (Caixa Penedes), Lloyds Bank Espana and Banco Gallego.This new agreement extends and consolidates 50 percent joint venture set up by both companies in 2008.Banco Sabadell has created company BanSabadell Mediacion which, as associated partner, will act as broker for all its insurance business in Spain.Mediterraneo Vida, Banco Sabadell 100 percent life assurance company, will continue to manage its own portfolios up to maturity.  Full Article

Banco de Sabadell gives further details on FY 2013 dividend
Thursday, 27 Mar 2014 04:30pm EDT 

Banco de Sabadell SA:Resolves to allocate 40.1 million euros to dividends.To distribute dividend of 0.01 euro gross per share, and supplementary scrip dividend of 0.02 euro gross per share.To distribute 80.2 million euros in total charged to issue premium reserve.Total gross shareholder remuneration is 0.03 euro per share.Dividend to be paid after April 3.  Full Article

Fitch affirms Banco de Sabadell at BB+, outlook stable; withdraws ratings-Reuters
Wednesday, 26 Mar 2014 02:40pm EDT 

Banco de Sabadell SA:Fitch Ratings has affirmed company long-term Issuer Default Rating (IDR) at BB+ with stable outlook, short-term IDR at B and Viability Rating (VR) at bb+-Reuters.Fitch has simultaneously withdrawn all of Sabadell ratings as level of public information provided by bank on quarterly basis is insufficient to maintain rating.Fitch no longer to provide ratings or analytical coverage for Sabadell.  Full Article

Banco de Sabadell subsidiary sells its entire stake in Fersa Energias Renovables
Thursday, 6 Mar 2014 12:45pm EST 

Banco de Sabadell SA:Says on March 6 its subsidiary, Explotaciones Energeticas Sinia XXI SL, sold entire stake it held in Fersa Energias Renovables.Stake sold amounts to 3.80 percent, represented by 5,316,570 shares.Transaction price 3,726,889 euros.  Full Article

Banco de Sabadell SA closes acquisition of 75 pct stake in Banco Gallego Vida y Pensiones from Caja de Seguros Reunidos
Thursday, 20 Feb 2014 12:00pm EST 

Banco de Sabadell SA:Says on Feb. 20 it closed the acquisition of a 75 percent stake in Banco Gallego Vida y Pensiones SA de Seguros y Reaseguros from Caja de Seguros Reunidos, Compania de Seguros y Reaseguros SA.The company reaches a 100 percent stake in Banco Gallego Vida y Pensiones.  Full Article

Banco de Sabadell SA gives FY 2016 profit outlook
Tuesday, 11 Feb 2014 06:03am EST 

Banco de Sabadell SA:Sees FY 2016 profit of 1 billion euros.FY 2016 net income 782.73 million euros-Thomson Reuters I/B/E/S Estimates.  Full Article

Banco de Sabadell SA to pay 0.03 euros per share dividend for 2013-Reuters
Thursday, 23 Jan 2014 08:13am EST 

Banco de Sabadell SA:Spain's Sabadell said on Jan. 23 in a stock market notice that it would pay a dividend of 0.03 euros per share on its 2013 results, with two-thirds paid in shares from its treasury stock-Reuters.Earlier on Jan. 23, Sabadell Chairman Josep Oliu said the bank would comply with a recommendation from the Bank of Spain to limit dividend payouts in cash to 25 percent of profits for 2013.  Full Article

Moody's downgrades Banco Sabadell to Ba2 from Ba1; negative outlook assigned-Reuters
Tuesday, 14 Jan 2014 12:37pm EST 

Banco de Sabadell SA:Moody's has downgraded the debt and deposit ratings of the company to Ba2/Not Prime from Ba1/Not Prime-Reuters.It follows the lowering of the bank's baseline credit assessment (BCA) to ba3, equivalent to a standalone bank financial strength rating (BFSR) of D- (from D/ba2)-Reuters.All of the company's ratings now carry a negative outlook.This rating action concludes the review for downgrade initiated on July 4, 2013.  Full Article


Spanish 'bad bank' faces fresh charges from property valuations

MADRID - Spain's "bad bank", set up to relieve ailing lenders of their soured real estate assets, said on Friday it faced more charges from the falling value of its properties, which have already eaten into its earnings.

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