CNMC approves the union of BBVA and Banco Sabadell subject to remedies to ensure financial inclusion, territorial cohesion and lending to SMEs and the self-employed
The Spanish National Markets and Competition Commission (CNMC) has authorized, in phase two and after 11 months of analysis, the combination of BBVA and Banco Sabadell. With this transaction the combined entity would result in the second-largest Spanish financial institution in terms of credit volume, after CaixaBank. The authorization is subject to a series of unprecedented remedies in the Spanish financial sector.