This was a decision taken by the bank’s Board, which met last week, and announced it to the Comisión Nacional do Mercado de Valores (National Securities Market Commission).
This decision comes at a time when Sabadell’s shares fell about 57% during the last weeks at the Madrid Stock Exchange, being now valued at 0.4452 euro per share. As a consequence, the company’s equity value also fell to less than half when compared to the end of last year. Last Wednesday, it was 2.5 million euro.
Sabadell is currently among the institutions ranked at the Ibex 35 reference index that have been most affected by the pandemic crisis which is devastating the country and the world. The Ibex 35 index reached, on the 16th of March its worst score in 5 years, with 6.107 points, but it is now showing signs of recovery having surpassed 7.000 points.