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Financials

Spain's Sabadell plans to close 235 branches in 2020, source says

MADRID, June 4 (Reuters) - Spain’s Banco Sabadell plans to close this year 90 branches more in Spain than it initially planned as it speeds up cost cutting and digital transformation following the COVID-19 pandemic, a source with knowledge of the matter said on Thursday.

In January, Spain’s fifth-biggest lender had said it would close 145 branches in 2020.

Sabadell declined to comment. (Reporting by Jesús Aguado; editing by Inti Landauro)

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