BBVA obtains approval from the Moroccan central bank to transfer control of Banco Sabadell's branch
The Central Bank of Morocco has given the green light for the indirect change in control of Banco Sabadell's branch in the country, as part of the transaction with BBVA. Therefore, BBVA now has all the authorizations needed from international regulators to complete the transaction.
BBVA received three of the most significant approvals in Europe: the approval of the Prudential Regulation Authority (PRA) in the U.K. and the European Central Bank’s non-objection on September 3, 2024 and September 5, 2024, respectively. Furthermore, on November 26, 2024, the European Commission’s Directorate - General for Competition completed its review of the transaction, according to the European Foreign Subsidies Regulation without raising any objections.
BBVA has also received all the approval of Mexican regulators. On February 19, 2025, the bank received the approval of the National Banking and Securities Commission (CNBV) to acquire indirect control of Banco Sabadell’s Mexican banking franchise. Moreover, in December 2024, Mexico’s Federal Economic Competition Commission (COFECE) concluded that the transaction does not pose any risks to competition in the country’s banking sector.