This afternoon, a significant public meeting took place at the Ministry of Economy, with the two bank presidents, Carlos Torres of BBVA and Josep Oliu of Banco Sabadell, in attendance. The attentive gaze of all media and photojournalists present witnessed the exchange between the minister of the branch, Carlos Body, and the president of ICO (Official Credit Institute), marking the start of loans worth nearly 30,000 million euros for sustainable projects for SMEs and self-employed individuals.
This meeting was noteworthy as it was the first public encounter between these two bank presidents and Carlos Body. Previously, there had been opposition to BBVA’s takeover bid from Carlos Body. The operation is still pending approval from Competition authorities and the Bank of Spain. Shareholders of Banco Sabadell are expected to have a final say on the matter. Despite ongoing accusations and disputes since BBVA confirmed its intentions to acquire Sabadell, both presidents exchanged a friendly greeting during this meeting.
The process of takeover bid is expected to continue through the end of this year with several steps still pending approval and decision-making. Other financial entities’ presidents and directors also attended this meeting as guests alongside representatives from employers’ associations and venture capital groups.
