How will the merger between BBVA and Banco Sabadell affect me if I am a mortgage, account or card customer?

This Tuesday, April 30th, BBVA has publicly stated its interest in reaching an agreement with Banco Sabadell to merge both companies.. “BBVA confirms that it has brought to the attention of the Chairman of the Board of Directors of Banco de Sabadell the interest of the Board of Directors of BBVA in begin negotiations to explore a possible merger between the two organizations“BBVA stated this in a statement sent to National Securities Market Commission (CNMV).

As confirmed by another person, The proposal has been received and “all aspects of the proposal will be duly reviewed.”. BBVA currently has the market value of the shares is 60,627 million euros, and the value of Sabadell is 9,898 million euros.. This merger, which was already attempted in September 2020 but was unsuccessful, will mean the creation second largest bank in all of Spain.

Both organizations have thousands of clients who have mortgages, cards and bank accounts. many are wondering how the merger will affect them. Although usually these circumstances always have the greatest impact on clients, in the case of mergers in Spain there are precedents such as merger of Bankia and CaixaBankin which The Bank of Spain has analyzed the possible consequences that this union could have for clients.

Possible changes and consequences of the merger

Clients of banking organizations undergoing a merger always wonder what will happen to their mortgages, loans, loans, cards or accounts. Well, if the client has mortgage or consumer loan in one of these banks, will not suffer any consequences, since this type of operation with a certain duration cannot undergo changes in its original state.

However, relatively items such as cards or bank accountsthey can be changed by merging because Its conditions may be changed by the new organization being created.. Even accounts or cards can be changed at any bank without being affected by the merger because These are products with an indefinite validity period or with automatic renewal.

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