BBVA Sabadell | The union of BBVA and Sabadell will create a new leader in the Spanish banking sector.
The Spanish banking market will have a new leader. The union of BBVA and Sabadell will create the largest bank in Spain. with a perimeter of joint assets of 626,000 million euros. This figure would be enough to surpass CaixaBank, which represents 613.457 million euros.
The new banking giant that looms on the horizon at the global business level will not change the order of Spanish banking. In case of consolidation, the merger of BBVA and Banco Sabadell will create a new banking giant with joint perimeter of assets, the total amount of which will be up to one million euros. On the one hand, the enterprise, chaired by Carlos Torres, has assets of 801.690 million euros, according to its latest quarterly financial report. For its part, Banco Sabadell has assets of 236.150 million euros.
Regarding the results, BBVA’s profit in the first quarter amounted to 2.2 billion euros.. For its part, Sabadell made a profit of 308 million euros, so the new bank resulting from the merger would have achieved first-quarter results of more than 2,500 million euros.
In 2023, the resulting banking organization will have a net profit of more than $9 billion. The fact is that last year BBVA made a profit of 8.019 million euros, and in 2023 Banco Sabadell – 1.332 million euros.
For its part, at market close the combined market capitalization of BBVA+Sabadell will be more than $70,000 million, making the resulting bank the fourth largest company with the highest valuation on the stock market after Inditex, Iberdrola and Santander.
If the operation is confirmed, it will not be the first time that BBVA has put its purchases in Catalonia under a magnifying glass.. The company took over Caixa Catalunya in 2014. along with other organizations such as Unnim, a project to merge the small savings banks Terrassa, Manlleu and Sabadell, which ultimately failed.
Among large banks CaixaBank maintains third position with assets of 613.457 million euros. and 1.005 million euros in net profit in the first quarter. Bankinter with assets of 105.945 million euros and net profit of 200.8 million euros will take fourth place in the ranking. For its part, Unicaja, with assets of 97.073 million euros and a net business of 111 million, will maintain fifth position.
Offices and employees
The resulting essence In total, BBVA-Sabadell will have 3,084 offices in Spain. (1881 from BBVA and 1203 from Sabadell). In terms of employees, 41,634 people will be in Spain, 27,735 in BBVA and 13,441 in Sabadell.
This means that the future enterprise will also surpass CaixaBank in terms of the number of employees. And the organization, headed by José Ignacio Goirigolzarri, has 40,730 employees and 3,558 offices.
Thirdly, in our country Santander will have a staff of 24,573 people and a staff of 1,864 people. The next participants in the bank rating will be Unicaja with 7,558 employees and 957 offices in Spain and Bankinter with 6,562 employees and 446 offices in our country.