A merger proposal between BBVA and Banco Sabadell
In the banking world, integration movements have resumed between the largest financial entities. In this sense, BBVA has expressed its interest in carrying out a possible merger with Banco Sabadell. This operation has been under consideration for several years, and now both entities have decided to resume talks with the aim of creating the second largest banking entity in Spain, after Caixabank.
Communiqué to the National Securities Market Commission
BBVA has informed the National Securities Market Commission (CNMV) that it has conveyed to the president of the board of directors of Banco Sabadell, Josep Oliu, the interest of its own board of directors in starting negotiations to explore a possible merger between both entities. . In addition, advisors have been appointed to carry out this process.
Response from Banco Sabadell
For its part, Banco Sabadell has confirmed that it has received a written proposal indicative of a merger from BBVA and that its board of directors will carefully analyze all aspects of the proposal.
Background to the negotiations
In the past, both banks had already held talks for a possible merger, but did not reach an agreement. At that time, the discrepancies focused on the exchange of shares and the lack of understanding about the terms of the operation. However, there is now a chance that these differences can be overcome.
A favorable scenario for the merger
The current context is very different from that of previous negotiations. Both financial entities are experiencing a favorable moment, with record profits thanks to interest rates. In the first three months of the year, the large Spanish banks, including BBVA and Banco Sabadell, have obtained profits of more than 6,676 million euros, 17% more than in the same period of the previous year. Furthermore, the European Central Bank is expected not to reduce interest rates in the coming months, providing a positive outlook for the banking industry.
Market reactions
News of the negotiations has had an impact on the shares of both banks. While Banco Sabadell shares have experienced an increase of 6.7%, those of BBVA have suffered a fall of more than 5%. Currently, BBVA has a market value of more than 60,000 million euros, while Banco Sabadell exceeds 10,000 million.
