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Major Spanish Banks Moving Headquarters From Catalonia

As tensions over independence continue to escalate, several major banks in the Spanish region of Catalonia are contemplating moving their headquarters. On Thursday, Banco Sabadell, one of Catalonia's biggest lenders, announced that its headquarters will be moving from the region as it appears more likely that the Catalan government will succeed from Spain. Independence would mean Catalonia automatically drop out of the EU, which in turn would remove the financial passporting rights of any banks based in the region. The announcement by Sabadell comes as Caixabank, Spain's third biggest lender and Catalonia's biggest, have also reportedly considered moving outside the region to prevent the possible consequences of Catalonian independence.
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