Transatlantic Bank is a local bank, which was founded by its Chairman, Natan Rok in Miami in 1984. Its operations are based in South Florida (Miami Dade County).
The bank has business volumes of 956 million dollars (521 million dollars in deposits and 435 million dollars in loans) and a focus on providing banking services. The main activity of Transatlantic Bank is based on granting loans (mainly mortgages) to SMEs and medium to high-income individuals as well as gathering customer funds.
The bank has 133 employees and a network of seven branches located in Miami's metropolitan area, which concentrates more than 30% of the state's population and employment.'
In 2008, Transatlantic Bank of Miami was acquired and integrated into the Banco Sabadell group.
According to the Chairman of Banco Sabadell, Jose Oliu, the acquisition of Transatlantic Bank is Banco Sabadell's first step in implementing our retail banking know-how in a market with an attractive potential, which offers favorable conditions for growth and value creation.
The acquisition of Transatlantic Bank will provide Banco Sabadell with an excellent operational platform and a solid commercial branch network. Florida is a perfect setting for the bank to extend its retail banking model as it is the fourth state of the Union with a GDP equivalent to 63% of the Spanish GDP and the third state with respect to its growth rate (7.7% in 2005).