The Banco Sabadell board of directors has this evening (Thursday) approved to move its fiscal address from Cataluña to Alicante due to the concerns caused by a imminent declaration of independence independence by the Catalan regional government. Alicante was chosen because it was the former headquarters of the CAM bank – taken over by Sabadell in December 2011.
The bank says the move is ‘to protect its shareholders and customers’ and ensure it continues to have the support of Spanish and EU central banks.
