This Tuesday, April 30, BBVA bank publicly announced its interest in reaching an agreement with Banco Sabadell to carry out a merger between both entities. BBVA confirms that it has conveyed to 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 both entitiesThis was proclaimed by BBVA in a statement sent to the National Securities Market Commission (CNMV).
As confirmed by the other entity, the offer was received, and all aspects of the proposal will be properly analyzed. Currently, BBVA has a stock market value of 60,627 million euros, while Sabadell is 9,898 million euros. This merger, which was already attempted in September 2020, but did not come to fruition, would mean the creation of the second largest bank in all of Spain.
Both entities have thousands of clients, who have mortgages, cards and bank accounts with them, and many wonder how the merger will affect them. Although normally the clients are always the most affected by these circumstances, in the case of mergers in Spain there are precedents such as the merger between Bankia and CaixaBankin which The Bank of Spain analyzed the possible consequences that such a union could have for clients..
Possible changes and consequences of the merger
Clients of those banking entities that are carrying out a merger always question what will happen to their mortgages, loans, credits, cards or accounts. Well, in the event that a client has a mortgage or personal loan in one of those banks, will not suffer any consequences, since this type of operations with a certain duration cannot undergo changes in its original conditions.
However, regarding items such as cards or bank accountsthese s can be altered by the merger, since Its conditions may be modified by the new entity that is established.. Even accounts or cards can be modified at any bank, without being influenced by a merger, because they are products of indefinite duration or automatic renewal.
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