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    SAB   ES0113860A34

BANCO DE SABADELL, S.A.

(SAB)
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Banco de Sabadell S A : Co-op bank confirms TSB approach

10/25/2021 | 04:50am EST

The Co-op bank has today confirmed it approached Spanish lender Banco de Sabadell over buying fellow bank TSB.

The bank said that it sent a letter to Banco de Sabadell but that no discussions are currently taking place between the two banks.

Reports from Sky News emerged over the weekend indicating Co-op bank had sounded out Sabadell’s board over their appetite for a possible takeover.

However, the board slapped down the approach, saying “This is not a transaction that we wish to explore at this moment.”

Sabadell acquired TSB after it was floated on the stock market by its previous owner, Lloyds. It has around 290 branches in the UK.

Co-op bank said in a regulatory filing today it had sent a letter to Sabadell expressing an interest in buying TSB, but it did not yield any discussions.

Nick Slape, chief executive of Co-op bank, said: “Our unique brand, underpinned by Co-operative values and ethics and the significant progress we have made in returning our bank to profitability is a testament to the hard work of our colleagues and the loyalty of our customers – which we continue to place at the heart of all our decisions.”

The post Co-op bank confirms TSB approach appeared first on CityAM.

© City AM, source Newspaper

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Analyst Recommendations on BANCO DE SABADELL, S.A.
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Financials
Sales 2021 4 978 M 5 642 M 5 642 M
Net income 2021 377 M 428 M 428 M
Net Debt 2021 - - -
P/E ratio 2021 9,45x
Yield 2021 3,27%
Capitalization 3 308 M 3 728 M 3 749 M
Capi. / Sales 2021 0,66x
Capi. / Sales 2022 0,70x
Nbr of Employees 21 095
Free-Float 97,3%
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Technical analysis trends BANCO DE SABADELL, S.A.
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Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 20
Last Close Price 0,59 €
Average target price 0,66 €
Spread / Average Target 10,8%
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Managers and Directors
CÚsar Gonzßlez-Bueno Chief Executive Officer & Director
Leopoldo Alvear Trenor Chief Financial Officer
Josep Oliu Creus Executive Chairman
RŘdiger Schmidt Head-Global Information Technology & Operations
Federico RodrÝguez Castillo Head-Compliance & Corporate Governance
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