BBVA's Sabadell Acquisition in Mexico Approved by CNBV

The National Banking and Securities Commission (CNBV) authorized BBVA to acquire indirect control of Sabadell in Mexico. This authorization follows the approval granted by the Federal Economic Competition Commission (COFECE), the competition regulator, in December 2024.

"BBVA also received three of the most relevant approvals in Europe: the approval of the Prudential Regulation Authority (PRA) in the United Kingdom and no objection from the European Central Bank," the bank stated.

In January, BBVA updated its tender offer for rival Sabadell, lowering the minimum acceptance threshold to focus on securing a majority of effective voting rights. The revised offer values Sabadell at approximately €10.9 billion (MX$230 billion), down from the initial €12.28 billion valuation announced in April.

BBVA Mexico is the country's largest bank by assets and loan portfolio. As of the end of 2024, the bank's assets totaled MX$3.3 trillion, with a loan portfolio of MX$1.9 trillion. Sabadell Mexico, ranked as the 19th largest bank by assets, reported assets of MX$143.7 billion and a loan portfolio of MX$94.4 billion.