This would create a large bank in Spain and the EU and clean up the Villarejo and FG scandal
Nerves at BBVA from where it is said that they have resumed contacts for a merger between BBVA and Banco Sabadell, although some analysts believe that the new large Spanish bank may be the result of a large merger between Banco Santander and BBVA, led by Ana Botín.
Which, in addition to constituting the first Bank in Spain, would make it a leader in the EU and on the international scene because BBVA has a significant presence in Mexico and Turkey and Santander in the United Kingdom and Brazil, and both are positioned in a minority in USES.
In addition, this merger would park – pending trial – the legal problems of BBVA (which could have some civil liability) for the BBVA contracts signed with former commissioner Villarejo during the presidency of Francisco González (FG).
And from which numerous crimes of illegal espionage to various entities and individuals were derived. Crimes for which Villarejo, the former head of the Bank’s security, Julio Corrochano, have already been charged, to whom BBVA granted a significant compensation in his retirement, a CEO and six BVVA charges.
Succulent demonization of Corrochano of whose payment, in his capacity as CEO, the current president Carlos Torres, who held that same position during the last payments of the Bank to Villarejo, was up to date. And that he was the person of the highest confidence of FG and therefore his heir. So you can imagine that Torres and FG have spoken on occasion about the Villarejo affair, before and after the scandal broke out.
Which undoubtedly complicates, politically and institutionally, that Torres can lead at this time a banking merger like the one that seems to be being prepared between BBVA and Sabadell.
And this, of course, as long as Ana Botín does not decide to enter the merger dance, either launching a clear attack on BBVA or on Sabadell. And this even though some analysts say that Santander is still digesting the purchase of Banco Popular and has to decide what it will do with its presence in the United Kingdom.
But Ana Botín, like her father Emilio Botín, will want Santander to continue being the first Spanish bank and this leaves BBVA in question and does not rule out that Santander also wants to bid on Sabadell.