MERGER OF BBVA – BANCO SABADELL
The possible takeover of Sabadell BBVA will contribute further concentration of the offer of banking services existing in a province where the number of operators in the sector has already fallen by less than half since the onset of the financial and real estate crisis in 2008. Thus, the new entity resulting from the operation alone will account for more than a third of the entire network branches currently existing in the province. Specific, 207 out of 597 offices existing banking institutions, according to the latest data from the Bank of Spain.
In particular, Sabadell As of December 31st there were 131 branches in Alicante after closing three last year. Still remains entity with the densest network in this area, a position that, since the integration of CAM, the organization under the chairmanship of Josep Oliu lost only for a short period of time as a result of the integration of Bankia into KaishaBank. However, after the network reorganization that followed this operation, Sabadell again topped the ranking, while the latter is currently in second position with 103 branches.
In its turn, BBVA remains as fourth company by number of offices in Alicante, there are only 76 delegations, and this figure, according to the head, has not changed over the past year. At the same time, the Group is ahead of him in third position. Cajamarhaving 77 branches among all its member savings banks.
If the integration is complete, only four banks will share three quarters of the market Financial situation in the province. In this regard, it is worth remembering that since the burst of the real estate bubble, the number of operating offices in the province has decreased by 66%, increasing from 1,770 in 2008 to 597. Of course, the trend slowed last year. which has seven new branches in Alicante, mainly thanks to the expansion of Eurocaja Rural from La Mancha.
Mason is cautious about a possible merger between BBVA and Sabadell: “I want to be careful with this type of news”
In terms of the number of operators, the disappearance of savings banks and bank mergers have led to Of the 53 enterprises present in the province in 2007, there were only 22 operators.This is stated in the reports of the Bank of Spain.
In terms of personnel, Sabadell has 1,456 employees in Alicante, of which more than 500 work in central services, and BBVA has another 516. In total 1972 employeeswhat do they think 42% of all employees in this sector are in Alicante.