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Banco Sabadell confirms move to Alicante

Banco de Sabadell SA has decided to move its headquarters to Alicante from Catalonia, the bank confirmed in a market statement Oct. 5.

Alicante is in southeastern Spain and was the headquarters of Caja de Ahorros del Mediterráneo, which failed in 2011 and was acquired by Sabadell for €1. The decision follows a board meeting the same day.

Meanwhile, Expansión reported that CaixaBank SA's board will meet Oct. 6 to discuss a possible move of its headquarters to the Balearic Islands. The islands are off Spain's east coast and include Mallorca and Menorca.