The bank is reporting a business volume that far exceeds its historic capacity, reaching €107 billion. This surge is fueled by the loyalty and solid performance of its majority stake in the Galician financial system and by seven corporate operations carried out since the 2014 acquisition of Banco Etcheverría and the auction win for the former savings bank business. While acquisitions remain in play, the institution is again positioned to pursue Portugal EuroBic, with media coverage in the country painting it as the favorite, and bids surpassing €200 million. This direction aligns with a four-year strategic plan for 2021-2024 focused on growing recurring revenue, sharpening cost efficiency, strengthening risk management in the current environment, and driving a bold transformation of the organization. The choice to leverage the departure of Luis Beraza, the head of the Spanish Business unit, underscores a plan to redefine leadership from start to finish.
Under the guidance of Juan Carlos Escotet, Beraza’s exit signals a shift toward a core activity model described as collaborative and growth-oriented for both parties. The governance framework will be organized around two distinct pillars. A General Directorate of Commerce has been created, with Gabriel González Eiroa taking leadership after previously directing the commercial network. Manuel Nogueira will oversee Private Banking as the Managing Director of Client Development and Business.
Customer, digitization and omnichannel
The transformation centers on a customer-first approach, prioritizing omnichannel capabilities, digital modernization, and agile decision-making while maintaining strong personal connections with clients and a commitment to environmental responsibility. A new specialization and agile coordination between the business and customer development teams are planned, together with relationship banking.
González Eiroa will liaise with offices and the Private Banking, Retail Banking, and Corporate divisions, while collaborating with new networks such as agency banking or Abanca Conecta. Gerardo Fuertes Ayerdi will lead the new networks across regional directorates, including Bankoa Abanca and Javier Soto. The company’s new executive director is Víctor Casal. Nogueira will focus on Business Development, PC and Intelligence, and Multi-Channel Strategy, with Xavier Pérez Valcarce joining as director. Three promotions honor women: Bárbara Sanromán becomes Private Banking director, Saray Cendón advances in Business Development, and Susana Ortiz moves into MK.
A notable feature of the new structure is the promotion of internal talent as evidence of customer merit and knowledge within Abanca. The bank notes that eight of ten new managers are Galician and bring long-standing, impressive careers to the organization.
The maximum fee to be paid to the Board will be 10.42 million
A general shareholders’ meeting is scheduled for next Monday to address key governance decisions. It is anticipated that José Manuel González-Páramo, who has held senior roles at the Bank of Spain and BBVA, will be confirmed as a director. Rosa María Sánchez-Yebra is expected to be approved to lead the organization, and Leticia Iglesias Herraiz is set to be elected for another four years. The agenda also includes the approval of the 2021 results, including 233.4 million euros in voluntary reserves and 71.6 million euros in dividends paid on November 2 and February 4, along with a proposal to set the maximum annual joint remuneration for board members at 10.42 million euros.
The assembly is also expected to review moves related to executive remuneration, governance arrangements, and the ongoing integration of the bank’s commercial units with its regional networks. Stakeholders will seek continued clarity on how the company balances growth with prudent risk management, maintaining a steady path in a volatile market while delivering value to clients and shareholders alike. Marked by corporate communications and financial disclosures, these discussions set the stage for the next phase in the bank’s evolution.