Previous Close | 1.8325 |
Open | 1.8325 |
Bid | 1.8670 x 450000 |
Ask | 1.8675 x 500000 |
Day's Range | 1.8325 - 1.8325 |
52 Week Range | 1.0155 - 2.0840 |
Volume | |
Avg. Volume | 3,803 |
Market Cap | 9.694B |
Beta (5Y Monthly) | 1.00 |
PE Ratio (TTM) | 7.23 |
EPS (TTM) | 0.2500 |
Earnings Date | Jul 25, 2024 - Jul 29, 2024 |
Forward Dividend & Yield | 0.06 (3.27%) |
Ex-Dividend Date | Apr 16, 2024 |
1y Target Est | N/A |
(Bloomberg) -- For Carlos Torres, architect of Spain’s first hostile banking takeover in decades, time is a far bigger obstacle than the opposition of Banco Sabadell SA’s board and the Spanish government to his €10.5 billion ($11.2 billion) bid.Most Read from BloombergBiden’s Disastrous Debate Accelerates Doubts Over CandidacyGavin Newsom Is Ready for the Biden EmergencyDemocrats Question Replacing Biden: Here’s How It Could WorkSupreme Court Overturns Chevron Rule in Blow to Agency PowerSupreme
LONDON (Reuters) -BBVA's chairman said on Friday that the Spanish bank had "no need" to improve its hostile bid for rival Sabadell, as he vowed to push ahead despite political opposition and regulatory uncertainty. Asked repeatedly if he would rule out a cash sweetener in the all-share offer, Carlos Torres said in an interview: "It is not our intention to do it, and we don't need to." Torres defended the bank's approach to Sabadell, saying it was a "knock-out offer" that valued the smaller bank at a 30% premium and was conservative in the assumptions it made about cost savings from a tie-up.
Spain's second largest bank BBVA is planning to extend its digital banking services to Germany as it seeks to boost customer numbers and mirror its success in Italy, the bank's country manager in Spain said on Wednesday. BBVA, which recently submitted a hostile 12.28 billion euro ($13.20 billion) takeover offer for Sabadell, has invested heavily in digital banking services and like larger Spanish rival Santander, has been expanding in emerging economies, such as Mexico, when it struggled in the past to boost income in mature markets. In October 2021, BBVA entered the consumer lending market in Italy by offering free online accounts to take advantage of a shift to digital banking there during the pandemic.