The fusion who are studying Banco Sabadell i BBVA can have a strong impact on the bank map of the Girona counties. Both entities have dozens of offices in the main municipalities of the province.
In 24 cases, the distance between the BBVA office and the Sabadell office can be saved by crossing the sidewalk or walking to the side block, at a distance of less than 150 meters. In municipalities such as Llançà, Anglès, Banyoles, Blanes, Palafrugell, Tossa de Mar, Olot, Camprodon, Figueres and Girona, the distance is shortened below 50 meters.
This happens in the county capitals (less in Ripoll) and in the larger municipalities, but not in the cities of the Costa Brava, where the separation between branches is greater. For example, in Lloret, Roses, Platja d’Aro or Palamós, the entities of the two banks are kept at a reasonable distance of 200 meters or more, although all in a more or less central area.
The announcement of the merger between CaixaBank and Bankia also highlighted the duplication between these two banks. In their case, they had offices in 14 municipalities in Girona, half as many as BBVA and Banco Sabadell.
Its boards plan to consider the proposal on its merger in December, if negotiations move forward at the expected pace and the parties reach an agreement, financial sources said.
Precisely, the CEO of the entity of Catalan origin, Jaume Guardiola, confirmed yesterday that his entity and BBVA will decide whether to join “in the coming weeks.”
“Two diligences” open
The two entities were forced on Monday to confirm that they hold conversations to analyze their possible integration (which in practice would involve the purchase and absorption of the Valles entity by the group of Basque origin).
“Right now, at this procedural moment, we are subject to what we said yesterday in the relevant fact: we are at the beginning of the talks, there are no decisions taken, the due diligence, and in the coming weeks we will know what the result will be, ”said the executive at a financial conference of Deloitte and ABC.
At the same forum, Edouard Fernández Bollo, a member of the Supervisory Board of the European Central Bank (ECB), argued that mergers could be an instrument to improve efficiency between income and expenditure, which in the euro area is in a “not good” level of 67%) of the entities, which would allow them to “increase profitability and attract investors”.
They are not a way, pointed out Fernández Bollo, to solve serious solvency problems, since for this there are other community instruments of resolution of problems, that can happen through the cession of the bankrupt entities to competitors, but conditioned to measures of restructuring.
The ECB senior official recalled that the body conducted a stress test on the European financial sector in July. It was clear from this that European banks would lose 5.7 points of capital in the worst economic scenario analyzed. “The sector would continue to be solvent, it would have a level of 12.2%, but in this case there would be difficult situations, in some cases measures would have to be taken,” he explained.
The Bank of Spain published a few weeks ago the result of a similar year and concluded that “the added set of the Spanish banking sector is thus shown in this year able to withstand the high economic impact of the health crisis, with the support for the mitigating effect of the measures implemented by the economic authorities ”.