As the Spanish and international press has reported in recent days, the BBVA and Banco Sabadell are planning a merger.
Prior to this, the Spanish bank supervisory authority (Comisión Nacional del Mercado de Valores/ CNMV) had issued a mandatory announcement about the merger project of the two banks.
The merger between BBVA and Sabadell would create a bank with a balance sheet total of around 600 billion euros in Spain alone.
If the international assets of BBVA are added, the new bank would have a balance sheet total of almost 1,000 billion euros.
BBVA is by far the larger partner of the two banks.
BBVA operates as a global wholesale bank with a strong presence in Latin America, notably in Mexico.
Sabadell is a regional player with a focus on Catalonia. The customer base consists primarily of medium-sized companies and private customers.