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Council of Ministers to Decide BBVA’s Bid for Banco Sabadell Despite Catalan Pushback

Council of Ministers must decide by June 27 whether to ratify CNMC’s approval after endorsements from Brussels alongside IMF backing.

Fachada de la sede de BBVA en Madrid.
Geòrgia Mainou, propietaria de la veterana tienda de golosinas 1800

Overview

  • The CNMC approved BBVA’s takeover bid on April 30 under conditions including branch retention where service gaps exist and preservation of SME credit lines.
  • Catalan leaders and business groups are urging the government to impose further safeguards, highlighting potential harm to regional competition and small-business financing.
  • Post-merger projections keep Spain’s overall banking concentration at medium levels (Herfindahl index 1,296) but push Catalonia into “red” risk levels for SME lending and deposits.
  • BBVA has expanded its share of SME loans in Catalonia by 2.3 percentage points since 2021 and extended €65.5 billion in new financing to local firms from 2020 to 2024.
  • The combined entity would operate 733 branches in Catalonia, and BBVA has pledged not to close outlets in underserved areas or where competitor presence falls below regulatory thresholds.