“More financial institutions are needed, not fewer”

04/30/2024

Updated at 7:52 p.m.

The possibility of a merger between BBVA and Banco Sabadell was greeted with extreme caution by the Generalitat, without taking into account, of course, the question of whether this takeover would entail new losses for the bank. Financial map of Catalonia, beyond recognition after a period of concentration and disappearance of legal entities over the past five years.

Of course, based on a brief assessment by Economy Minister Natalia Mas, the government is making it clear that it is not happy with the possible operation. From the very beginning, politeness obliges, “respect for the decisions made involved in the operation“, but noting that “Catalan citizens and SMEs need more financial institutions, not fewer.”

“Catalonia has a strong financial sector and the government has been working to strengthen it for some time, promoting various projects and policies,” the minister adds. economically responsible government, which recalls that, according to the latest mapping carried out in the community, “there are already 628 companies that make up this sector in Catalonia, employing almost 100,000 people, but we must continue to strengthen it.”