Banco Sabadell SA Institucion De Banca Multiple is planning a "significant" capital increase in the near future, El Economista reported March 7, citing CEO Francesc Noguera.
The executive though did not say how much capital the bank aimed to raise through the operation, which must still be approved by the board of directors, adding it was part of the bank's strategic plan for 2018.
Over the last four years, Noguera said that the bank has carried out one to two capital increases per year, and currently it has about 10.00 billion Mexican pesos in capital stock.
Additionally, Banco Sabadell is looking to place 44.00 billion pesos in loans in the business banking sector in 2020, plus 60.00 billion pesos for corporate banking, and 800.0 million pesos for personal banking, which it just started.
As of 2017, the business banking sector had 11.60 billion pesos, and the corporate banking sector has 39.60 billion pesos.
Meanwhile, the bank also plans to invest 255.0 million pesos for its digital sector.
As of March 7, US$1 was equivalent to 18.79 Mexican pesos.
