BBVA President Carlos Torres reiterated the bank's commitment to its proposed merger with Banco Sabadell during an interview released on January 13. He expressed confidence that Sabadell shareholders will recognize the merger's potential benefits.
The merger, initially announced in May, is expected to enter a decisive phase in 2025. Torres emphasized the strategic importance of this union for key regions in Spain, including Catalonia and Valencia, asserting it would enhance funding capabilities by €5 billion annually, particularly benefiting SMEs and families.
In light of the ongoing regulatory review by the National Commission on Markets and Competition (CNMC), Torres mentioned that BBVA has submitted unprecedented commitments aimed at promoting financial inclusion and ensuring credit access for small businesses.
Torres also highlighted BBVA's robust performance, reporting an 11% year-on-year growth in credit as of September. He projected that profitability levels will remain strong in 2025, similar to those observed in 2024.
Addressing the broader economic landscape, he noted the necessity for increased investment in Europe to modernize infrastructure and enhance energy transition efforts. He underscored the importance of a unified banking and capital market in Europe to foster larger, more resilient banks capable of mobilizing savings for productive investment.
In terms of market outlook, Torres identified growth opportunities in Spain, Mexico, and signs of recovery in Turkey and Argentina, alongside significant banking potential in Colombia and Peru.