Banco de Sabadell (SAB) AGM 2026 summary

Opening remarks and agenda

• The meeting opened with a welcome to shareholders, both in person and remotely, and highlighted the bank's 145th anniversary and its ability to remain independent after a takeover bid.

• The agenda included a review of the bank's performance, voting on motions, and remarks from the incoming CEO.

• Quorum was established at 71.62%, the highest in recent years.

Financial performance review

• Net profit for 2025 reached EUR 1.775 billion, with ROTE at 14.3% and a fully loaded CET1 ratio of 13.11%.

• Share price surged 79% in 2025, and total shareholder remuneration was close to 9% of market capitalization.

• Lending grew by 2.4% overall, 5.2% in Spain, and customer funds increased by 4.3%.

• NPL ratio improved to 2.37%, and cost of risk dropped to 31 basis points.

• Two cash dividends of EUR 0.07 per share were paid in 2025, with a special dividend of EUR 0.50 per share announced following the sale of TSB.

Board and executive committee updates

• Marc Armengol was appointed as the new CEO, replacing César González-Bueno, who was recognized for his transformative leadership.

• Carlos Ventura was appointed as executive director, and several board members were reappointed or newly appointed.

• The board composition now meets the 40% target for women directors, with 35% of management positions held by women.