Overview

• The CNMC approved the BBVA-Sabadell takeover unanimously on April 30 after an 11-month review and secured commitments to maintain branches in low-income areas and credit lines for SMEs.
• The government’s public consultation has attracted widespread input on potential impacts to employment, regional cohesion, and financial inclusion.
• BBVA asserts that its CNMC pledges already protect the public interest and that the merger would benefit customers and strengthen Spain’s banking sector.
• A Zinklar survey shows 75% of Spaniards oppose the deal, with over 80% resistance in Catalonia and Galicia over concerns about service access and job losses.
• The European Commission has warned Spain against exceeding EU merger rules during its review of the bid.