Carlos Torres Vila: "Far from losing, Sabadell's business clients will gain BBVA as their best ally for growth"

Carlos Torres Vila explained that Europe must move forward to regain momentum. Estimated growth for 2025 is moderate, and it is essential to work in a coordinated way to boost investment and recover lost ground in two key areas: on the one hand, autonomy in critical sectors such as energy, new technologies, and defense; and on the other, the need to enhance competitiveness and economic growth. In his view, these strategic sectors require European companies with sufficient scale and transformation capacity—companies large enough to compete globally.

Developing capital markets and having a strong, competitive financial system is therefore essential to the region’s future, he added, as Europe’s successful transformation will depend to a large extent on the strength, competitiveness, and investment capacity of its banking sector.

In this context, Carlos Torres Vila noted that Spain is in a unique position to play a more significant role in Europe. We are building on comparatively strong growth, lower household and corporate debt than the rest of Europe, a robust financial system, a dynamic business community, and advantages in strategic industries, such as tourism and renewable energy. In his view, opportunities must be seen through a European lens: the European Commission estimates that the region requires around €800 billion in investment per year, and part of this investment will flow into Spain and its territories, which are in a privileged position to lead this new European phase thanks to their growth and clean energy resources. But to take advantage of this opportunity, the country needs regulatory stability and strong financing mechanisms. “This is where banks come into play. We need larger, stronger, and more efficient institutions to channel Europe’s resources toward strategic projects,” he said.

Carlos Torres Vila believes BBVA will play a major role in this new context. The bank recently completed a successful strategic cycle and has already presented its new strategic plan for 2025–2029. With this roadmap and the Banco Sabadell transaction, “BBVA will be an even better bank,” he stated.

“The integration with Sabadell represents a clear commitment to the business segment,” he said. “A key part of this transaction is to double down on this commitment to companies. Far from losing anything, Sabadell’s business clients will gain BBVA as their best ally for growth.” The resulting bank, he added, will offer more to its customers: more branches, more ATMs, better products, greater access to credit, and the ability to operate in more countries. BBVA’s Chair recalled that the bank’s increased scale and stronger results mean it will boost its lending capacity to households and businesses by approximately €5 billion per year.

“Beyond the appeal of the transaction for shareholders and customers, it is also very attractive for Spanish society as a whole—and for Europe more broadly—especially at a time when the world is highly fragmented,” he explained. “And what applies to Europe also applies to our country and to all the regions, including those where Sabadell and BBVA have a stronger presence, Catalonia and the Valencian Community.”

Regarding the ongoing regulatory approval process, the BBVA Chair affirmed that the bank is listening to and understands the concerns raised by the authorities—not only the CNMC, but also the Spanish government. “That is why we have made unprecedented and effective remedies in highly relevant areas—not only related to local presence, but also regarding the maintenance of credit pricing and volumes for businesses,” he said. “We believe the CNMC will issue its decision to authorize the transaction soon, in the coming weeks.” In this sense, he stressed the importance of Sabadell’s shareholders being able to decide as soon as possible “whether or not they want to join this great project.”