A new horizon for small business
The small and medium -sized businesses (SMEs) of Catalonia enthusiastically celebrate the recent news on BBVA’s commitment to its development. At a significant meeting with the Business Association of Hospitalet and Baix Llobregat (AEBALL), Peio Belausteguigoitia, head of BBVA in Spain, shared his vision for the future of the sector.
Strategic fusion and increase in funding
The merger with Banco Sabadell is perceived as a decisive step for the consolidation of BBVA in the market. Belausteguigoitia emphasized that thanks to this Union, an increase in financing for companies and families that could reach 5 billion euros a year is expected. This injection of resources is vital to strengthening the Catalan economy, which largely depends on SMEs.
The impact of SMEs in Catalonia
SMEs are the heart of economic activity in Catalonia, representing almost 90% of companies and generating more than 75% of employment. BBVA’s decision to strengthen their support for these companies has been well received, as it translates into a tangible commitment to their growth and sustainability.
Clear commitments for a solid future
One of the most important measures is the guarantee of maintaining the offices of Banco Sabadell dedicated to SMEs, as well as the stability of commercial conditions in areas with less than four financial institutions. This action provides some peace of mind in a competitive environment.
Continued support for 18 months
In addition, BBVA has promised to maintain the current lines of credit for a period of 18 months, ensuring that the SMEs collaborating with both entities are not affected. This commitment has been key to obtaining the approval of the National Market and Competition Commission (CNMC) after an exhaustive analysis process.
Optimistic prospects for SMEs
With the fusion, BBVA not only seeks to consolidate its position in the market, but also wants to improve its efficiency and proximity to customers. The new structure will allow you to invest in technology and sustainability, two fundamental areas to stay competitive nationally and European.
Belausteguigoitia’s comments have generated a climate of optimism among SMEs, who see in this fusion an opportunity to access wider funding and improve their competitiveness. BBVA confidence is high, and small businesses expect this new stage to result in collective growth and benefits for all.