Latest news with #bancos
Bloomberg
3 days ago
- Business
- Bloomberg
Santander Unseats Barclays as Europe's Biggest Issuer of SRTs
Banco Santander SA surpassed Barclays Plc as Europe's largest issuer of significant risk transfers, according to S&P Global Ratings. In order to come up with a volume estimate for the privately-negotiated deals, S&P used data on the senior portions that banks retain on their balance sheets and disclose in their regulatory filings. These retained tranches typically represent about 80%-95% of the reference portfolio in European SRTs.
Bloomberg
6 days ago
- Business
- Bloomberg
CaixaBank Pushes Back on Opposition to Spanish Banks in Portugal
The head of CaixaBank SA 's Portuguese unit sought to refute criticism that Spanish banks have too much influence in the country, saying their investment was vital in strengthening Portugal's finance industry when others pulled back. 'I think consolidation is a European goal,' Banco BPI Chief Executive Officer Joao Pedro Oliveira e Costa said at a conference in Lisbon. 'We need to focus more on what unites us than what separates us.'
Bloomberg
22-05-2025
- Business
- Bloomberg
Portugal Opposes Further Increase in Spanish Banks' Presence
Portugal's government said Spanish banks shouldn't further increase their presence in the Portuguese market. Spanish lenders now represent about a third of Portugal's banking market, Finance Minister Joaquim Miranda Sarmento said in an interview with television channel RTP3 on Wednesday night. 'I think that value shouldn't increase, due to a matter of concentration and of dependency.'
Reuters
14-05-2025
- Business
- Reuters
Spain's BBVA could cut up to 2,500 jobs after Sabadell integration, Expansion says
MADRID, May 14 (Reuters) - Spain's BBVA ( opens new tab could cut up to 2,500 jobs after the acquisition and a subsequent integration of smaller rival Sabadell ( opens new tab, newspaper Expansion reported on Wednesday. The preliminary calculations from BBVA would be equivalent to slightly less than 6% of the current combined workforce of around 42,000 employees in Spain, according to unidentified sources cited by the paper. The government opposes the hostile takeover bid, currently worth more than 14 billion euros ($15.66 billion), and rejected by Sabadell, on concerns it could lead to job losses. The number of planned job cuts could change depending on whether or not BBVA is allowed to merge the two banks and the potential conditions imposed by the government, Expansion said. BBVA declined to comment. Under Spanish law, the government cannot stop a bid, but it has the final word on whether a merger goes ahead. In the case the government blocked a full merger, BBVA might be able to integrate Sabadell at a later stage and in the meantime keep Sabadell as a separate unit. Spain's competition watchdog approved the proposed deal with remedies last month while the government opened last week a non-binding public consultation on the matter. BBVA has not disclosed how many jobs would be cut, only saying it will close 300 branches. As part of its targeted 850 million euros in cost savings, BBVA has said that 450 million euros would be administrative and IT savings, 300 million euros related to job cuts and 100 million euros in funding savings. The possibility that BBVA could end up with a majority share in Sabadell without an outright merger has prompted questions about whether BBVA can deliver the synergies. ($1 = 0.8938 euros)
Bloomberg
11-05-2025
- Business
- Bloomberg
Spain Said to Back Sabadell Tie-Up as Alternative to BBVA Deal
The Spanish government is open to considering a tie-up for Banco Sabadell SA with another local bank as a way to counter an unsolicited bid from BBVA SA, according to people familiar with the matter. The government would encourage a deal between Sabadell and a Spanish rival that isn't BBVA, according to the people, who asked not to be identified discussing private matters. Any deal is unlikely to happen soon, according to the people.
