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BBVA office next to Sabadell. Eva Parey/Colpisa
CEV Respects Entity's Relocation but Laments 'Significant Loss' for the Community

CEV Respects Entity's Relocation but Laments 'Significant Loss' for the Community

The President of the Valencian Employers' Association understands that the move 'responds to a business strategy motivated by the current context'

E.P.

Miércoles, 22 de enero 2025, 10:00

The President of the Valencian Business Confederation (CEV), Salvador Navarro, has stated that while he fully respects "the autonomy of companies to make strategic decisions they deem beneficial," the relocation of Banco Sabadell from Alicante to Catalonia "represents a significant loss for the Valencian Community."

Navarro, in statements sent to the media, indicated that he understands the entity's decision "responds to a business strategy motivated by the current context." "Banco Sabadell moved its headquarters to Alicante during a period of high political and economic instability in Catalonia, seeking a more stable environment to support its operations and the confidence of its clients and investors. Now, with an apparent improvement in stability conditions in Catalonia, the bank has decided to reverse that decision," he noted.

The President of the Valencian employers' association highlighted that during the years Banco Sabadell had its headquarters in the Valencian Community, "it has significantly contributed to local economic development."

"This decision, although legitimate, is not welcomed, and poses a challenge to our economy, while also highlighting the need to continue working to offer an even more competitive and attractive environment for business investment," Salvador Navarro pointed out.

In this regard, he emphasized the CEV's commitment to "continue promoting policies that strengthen our economy and maintain the Valencian Community as a benchmark of stability and growth."

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todoalicante CEV Respects Entity's Relocation but Laments 'Significant Loss' for the Community