Sabadell bank 🏦 to shift domicile from Catalonia

Spain's fifth-biggest bank Sabadell will shift its registered domicile away from Catalonia, a company spokesman said on Thursday, after threats by the region's leaders to declare independence.

The bank will on Friday launch "rapid" procedures that within days will move its legal domicile, but not its headquarters and employees, to the eastern city of Alicante, a spokesman who asked not to be named told AFP.

Shares in the Catalan lender, the second-biggest bank in the northeastern region, had plunged 10 per cent on the stock exchange this week as a political crisis between Catalonia and Madrid deepened.

They recovered on Thursday, up more than six per cent at close of trading. 

UCJ, UNILORIN.