BBVA on Thursday said its fourth quarter net profit rose 18% from the same period in 2023 thanks to a solid performance in Spain, where it aims to expand through a takeover bid for smaller rival Sabadell worth around 12 billion euros.
Carlos Torres Vila, chair of lender BBVA said "Mexico will be a winner" regardless of the challenges from potential U.S. trade tariffs.
BBVA Chair Carlos Torres Vila discusses European banking consolidation at the World Economic Forum in Davos.
Spanish Prime Minister Pedro Sanchez discusses the need for the European Union to maintain a constructive relationship with the new Donald Trump administration. He also talks about taxes on foreign home owners, and his hopes for Telefonica SA's new management.
Spanish bank BBVA has changed its tender bid for the smaller rival Sabadell by reducing the minimum acceptance condition from its previous offer, the lender said on Thursday.
BBVA Argentina (BBAR) is poised for significant growth due to Argentina's economic recovery under President Javier Milei's liberal policies, benefiting from stabilized currency and reduced inflation. Milei's reforms, including cutting public spending, reducing taxes, and stabilizing the Argentinian Peso, have led to a dramatic improvement in Argentina's economic indicators. BBAR has shown impressive financial performance, with substantial increases in loans, deposits, and reduced non-performing loans, indicating a strong foundation for future growth.
Mexico's competition authority Cofece has given BBVA the green light to take indirect control of the stakes that Sabadell holds in several units in Mexico, BBVA said on Monday.
Spain's stock market supervisor CNMV will wait for the outcome of the competition watchdog's review of BBVA's hostile bid for Sabadell before deciding on the potential authorisation of the takeover prospectus, CNMV chief Rodrigo Buenaventura told reporters on Thursday.
BBVA said on Tuesday that the European Commission had not raised any objections to its bid for Spanish rival Sabadell after completing its foreign subsidies review.
Banco BBVA Argentina S.A. is expected to benefit from Argentina's economic reforms, but has weaker fundamentals compared to peers, making it a less attractive investment. The bank's loan-to-deposit ratio is conservative at 66%, providing room for loan growth, but its operating efficiency and profitability lag competitors. Despite a favorable macroeconomic backdrop, BBVA Argentina's recent performance has been mixed, with declining net interest income and higher efficiency ratios.
Spanish bank BBVA on Wednesday committed to taking a series of measures to try to secure a green light from antitrust regulator CNMC for its proposed hostile takeover of smaller rival Banco Sabadell.
Spain's BBVA remains committed to cooperating with the competition authority CNMC to secure approval for the lender's takeover of Sabadell "in a few months", Chief Executive Officer Onur Genc said on Wednesday.