Sabadell estimates the credit that European funds will generate for banks at 125,000 million

Sabadell intends to take advantage, like all financial entities of the recovery plan Next Generation EU. And that has been reflected in his strategic plan that he presented today.

One of the strengths of Banco Sabadell is its client portfolio of companies and, above all, SMEs. Sabadell, with a 40% penetration in corporate banking, wants to strengthen its position in this segment and increase its business volume thanks to a specialization of the network and, believes that the European funds of 140,000 million euros that Spain will receive to alleviating the economic crisis derived from the Covid opens a range of opportunities for the financial sector in general, and for Sabadell in particular.

“We calculate that the investment that the Next Generation funds will generate for the banking system as a whole will be around 125,000 million euros,” said Carlos Ventura, general director of the bank and head of the Business and Network Unit.

To this figure should also be added the generation of investments that will be carried out by the companies, regardless of the financing.

For now, the Economy has already publicly explained that the bank will play a “relevant” role for the transmission of policies what activate the Government with European funds, as it considers this key sector so that certain measures reach the companies due to their “capillarity” and knowledge of the companies.

At the moment, several banks have already created or are creating special teams to help and advise companies to obtain these funds.

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