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Bloomberg
Banco de Sabadell SA is exploring a sale of its payments business, according to people familiar with the matter.
The Spanish banking group is working with an adviser on the potential disposal, which could fetch between 250 million euros and 350 million euros.
The payments business handles the processing of transactions made with credit and debit cards. Any divestment would add to the $157 billion of deals targeting the European financial industry over the past 12 months, according to data compiled by Bloomberg.
Sabadell has been looking to sell peripheral operations since a sale to larger Spanish rival Banco Bilbao Vizcaya Argentaria SA collapsed in 2020 over price. The bank has looked at offloading international assets from Mexico to the UK, where it owns TSB Bank Plc, to focus on retail banking at home.