Both are Spanish banks and operate in Mexico. And in their country of origin, Spain, they are in the middle of a hostile or unsolicited offer with which one intends to buy the other. These are BBVA and Banco Sabadell. The first made a merger proposal to the second. And he, from the outset, rejected it.
This is a hostile offer that does not have the approval of the Spanish government. In fact, it is opposed due to the negative impact on competition, financial stability and territorial inclusion in Spain.
It is a process that has spread and has yet to be formally defined. The analysis of the Spanish regulators is missing: the National Markets and Competition Commission (CNMC) and the National Securities Market Commission (CNMV).
The offer put on the table by BBVA, headed by Carlos Torres Vila, was not to the liking of Banco Sabadell, chaired by Josep Oliu.
In recent days, BBVA modified its original offer and Oliu openly declared that the bidding bank “made the offer worse.”
BBVA went from offering a new BBVA share for 4.83 Sabadell shares, to offering one bank share for 5.0196 shares of the Catalan bank and a cash payment of 0.29 euros per share.
If Sabadell did not like the original offer, the new offer even less so.
The fact is that BBVA and Banco Sabadell are in a complicated process.
But, in the meantime, What is happening with Sabadell in Mexico?, chaired by Albert Figueras.
According to the banker’s own words, the institution has not been affected in the slightest in its operation and process of consolidation and growth in Mexico.
They ensure that they are focused on fulfilling their commitment to shareholders to distribute important dividends in 2024 and 2025.
Sabadell in Mexico has already become the tenth bank, among those operating in the country, in volume of assets with 96 billion pesos, lent to Mexican companies and growing month by month in market share.
The institution records a growth in profits of 17.8% as of June 24, 2024, compared to the same period of the previous year.
It has achieved this by virtue of an investment of more than 33% in the growth of the project in Mexico in terms of technology, products and people.
Its human team has grown from 360 collaborators in 2023 to 505 in September.
Regarding the volume of business credit: it obtained an increase of 11.94% and an optimal balance in terms of credits and liquidity.
Sabadell México, has the support of the fourth Banking Group in Spain and 140 years of history.
In Mexico, the number of clients in the business and corporate banking segments has grown by 10%, reflecting the confidence of the business sector in the institution.
Figueras assures that Sabadell has a long-term commitment to Mexico and observes with optimism – despite the local and external circumstances, which have caused volatility – the future of the country.
In the midst of the turbulence generated by a hostile offer, the captain of Banco Sabadell shows serenity and confidence in both the parent company and the operation in Mexico.
Glimpses
After the President of Mexico, Claudia Sheinbaum, announced her intention to double the number of kilometers of railways built in the previous six-year term, the great unknown to be resolved is where the large investments that will be required to achieve that goal will come from. .
Until now, it is not known what the scheme(s) will be for private initiative participation in the construction of the trains planned by the new government.
The president of the Canadian Pacific Kansas City railway company, Óscar del Cueto, assures that it is still not clear what the scheme for the participation of private initiative in railway projects will be.
