Sabadell

Main article: Banks of Spain

History

2024: BBVA buys Sabadell

On May 1, 2024, Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) announced the purchase of a rival credit institution, Banco de Sabadell. The transaction value is estimated at €12.3 billion.

As part of the deal, BBVA will pay one of its security for 4.83 Sabadell shares, the official statement said. This corresponds to a premium of 30% to the value of the shares of the acquired structure at the close of trading on April 29, 2024. After the transaction closes, Sabadell shareholders will receive 16% of the securities of the resulting enterprise.

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BBVA says combining the two lenders will create "one of the largest and most robust financial structures in Europe." Sabadell has a strong position in small business services, while BBVA Bank is focused on providing retail banking services and serving large corporate customers. Thus, together, organizations will be able to cover all major market segments.

As part of the deal, BBVA intends to include three members of Sabadell's current board, selected by mutual agreement, on the board of directors of the combined structure as non-executive directors. The name and brand of the organization will be owned by BBVA, but the joint use of both names is planned to be preserved in those regions in which there is a corresponding commercial interest.

The deal, the Financial Times noted, would combine the third and fourth largest banks in the Spanish market, creating a lender with the largest domestic balance sheet. The two banks account for a total of 18% of branches in Spain (by 2024). It is noted that BBVA and Sabadell were negotiating a merger in 2020 against the backdrop of the COVID-19 pandemic, but then the deal fell through, since the parties could not find a common language in terms of value.^[1]

2013: Growth in profit to 247 million euros and an increase in real estate sales to customers from Russia

2013 brought the bank a profit of 247.8 million euros. "This result was achieved after the implementation of subsidies and payments in the amount of 1.7636 billion euros and was three times higher than in 2012," the bank said in an official statement.

In 2013, Sabadell Bank sold 18,501 properties in Spain. This figure was 34% more than in 2012, when 13,777 units were sold. In addition, the volume of sales to foreigners who are not residents of Spain for the year increased by 145% - to 1,872 objects. This was largely due to the activity of sales agents in Russia and Britain, as well as the launch of the site in Russian^[2]

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