BBVA Sabadell | The union of BBVA and Sabadell would give rise to the new leader of the banking sector in Spain

BBVA Sabadell | The union of BBVA and Sabadell would give rise to the new leader of the banking sector in Spain
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The Spanish banking market would have a new leader. The resulting union of BBVA and Sabadell would create the largest bank in Spain with a joint asset perimeter of 626,000 million euros. This figure would be enough to surpass CaixaBank, which presents 613,457 million euros.

The new banking giant that looms on the horizon, at a global business level, would not alter the order of Spanish banking. If consolidated, the merger between BBVA and Banco Sabadell would create a new banking giant with a joint perimeter of assets that would add up to one million euros. On the one hand, the entity chaired by Carlos , according to its latest quarterly financial report, has assets of 801,690 million euros. For its part, Banco Sabadell has assets of 236,150 million euros.

Regarding results, BBVA’s attributable profit amounted to 2.2 billion euros in the first quarter. For its part, Sabadell obtained a profit of 308 million euros, so the new bank resulting from the merger would have obtained results in the first quarter of more than 2,500 million euros.

In 2023, the resulting banking entity would have a net profit of more than 9,000 million. And the thing is, BBVA obtained a profit of 8,019 million euros last year while Banco Sabadell obtained 1,332 million euros in 2023.

For its part, at market close BBVA+Sabadell would have a joint market capitalization of more than 70,000 million, which would make the resulting bank the fourth largest entity with the highest value on the stock market after Inditex, Iberdrola and Santander.

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If the operation is confirmed, it would not be the first time that BBVA has put a magnifying glass on its purchases in Catalonia. The entity absorbed Caixa Catalunya in 2014 along with other entities such as Unnim, the merger project of small savings banks Terrassa, Manlleu and Sabadell, which finally failed.

Among the big banks CaixaBank maintains its third position, with 613,457 million euros in assets and 1,005 million euros of net profit in the first quarter. Bankinter, with 105,945 million in assets and 200.8 million euros in net profit, would hold fourth place in the ranking. For its part, Unicaja, with 97,073 million euros in assets and a net business of 111 million, would maintain fifth position.

Offices and employees

The resulting entity, BBVA-Sabadell would have a total of 3,084 offices in Spain (1,881 from BBVA and 1,203 from Sabadell). As for employees, 41,634 would be in Spain, 27,735 in BBVA and 13,441 in Sabadell.

This means that the future entity would also surpass CaixaBank in number of workers. And the entity chaired by José Ignacio Goirigolzarri has 40,730 employees and 3,558 offices.

Thirdly, in our country, Santander would be positioned with a total of 24,573 employees and a stock of 1,864 employees. Unicaja, with 7,558 employees and 957 offices in Spain, and Bankinter, with 6,562 employees and 446 offices in our country, would be the next members of the bank ranking.

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