Spanish lender Banco Sabadell has decided to transfer its legal base from Catalonia to Alicante, according to a bank spokeswoman.<br /><br />Sabadell had said earlier that its board was holding an extraordinary meeting on Thursday to consider the possibility of relocation. <br /><br />The political crisis — triggered by the region’s referendum for independence — has also prompted Spain’s third-biggest lender Caixabank to think about shifting its Catalan base into another Spanish region. That decision has not been taken, and would need to be made at a meeting of shareholders. <br /><br />Spanish newspaper El Pais reported that telecoms operator Eurona is moving from Barcelona to Madrid, as is biotech company Oryzon. <br /><br />Catalonia is a centre of industry and tourism that accounts for one-fifth of Spain’s economy. Seven thousand internationals are based in the region, including major multinationals like Volkswagen and Nestle. <br /><br />If the rift between Madrid and Barcelona is not resolved through dialogue, analysts suggest an external mediator may need to step in.<br /><br />Banco Sabadell considers moving legal headquarters outside Catalonia over ongoing uncertainty in region https://t.co/QTN2l5ysM9— El País in English (@elpaisinenglish) October 5, 2017<br />
