October 26, 2018 / 8:21 AM / a month ago

Spain's Sabadell is preparing an offer for RBS remedies package - CEO

MADRID (Reuters) - Spain’s Banco Sabadell (SABE.MC) said on Friday it was preparing an offer for an RBS (RBS.L) funding package for small and mid-sized companies which is up for sale in Britain.

“We have prepared a very good offer (...) we are just at this moment completing the offer,” the chief executive office Jaime Guardiola told analysts during a conference call.

A total of 775 million pounds in grants is up for sale for smaller lenders in Britain, part of cash the UK government and European Commission ordered RBS to provide following its 45.5 billion pound state bailout in 2008.

Guardiola also said the bank was considering selling its Solvia real estate manager and promoter.

Reporting By Jesús Aguado; additional reporting by Emma Rumney; editing by Paul Day

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