14th June 2025
Barcelona News Catalonia News Madrid News Main News

BBVA and Sabadell banks in merger talks

Spanish bank BBVA has confirmed that it is in talks with Banco Sabadell, which also owns TSB in the UK, regarding a possible merger between the two financial institutions. Sabadell has a market capitalisation of €2.3bn compared with BBVA’s €24.5bn.

In a statement sent to the National Securities Market Commission (CNMV) on Monday, BBVA said that it had begun a due diligence process of reviewing assets and that it had appointed external advisers to evaluate the operation.

Banco Sabadell also sent a statement to the CNMV, with both banks stating that ‘no decision has been taken in relation to a potential merger operation’ and that ‘there is no certainty that it will be adopted’.

The news came on the same day that BBVA, which has headquarters in the Basque city of Bilbao as well as in Madrid, announced the sale of its US subsidiary to PNC for €9.7 billion.

In September, the boards of Spain’s CaixaBank and Bankia approved a merger plan between the two, which will create Spain’s largest financial institution. The new bank will keep the CaixaBank brand, and will have assets of more than €664 billion, the companies said.

If the merger between BBVA and Banco Sabadell proceeds, the resulting entity will be the second largest, with joint assets of approximately €600 billion.

ALSO READ: CaixaBank and Bankia merger confirmed

ALSO READ (15/2/19): Chinese protest against ‘racist BBVA’ in Madrid

ALSO READ (12/1/19): Spanish bank BBV suspected of corporate spying

Recent Posts

Spanish PM apologises, after senior politician resigns due to alleged link to corruption probe

News Desk

Spain, UK and EU agree ‘historic’ post-Brexit Gibraltar deal – full details

News Desk

Court to probe if Air Europa bail out by Spanish PM was conflict of interest

News Desk

Bank of Spain downgrades country’s GDP growth due to US tariffs uncertainty

News Desk

Netflix to invest more than a billion euros in Spain over next four years

News Desk

Spain’s Aena gets green light for €3.2bn expansion of Barcelona-El Prat airport

News Desk

Leave a Comment