Mexico’s National Banking and Securities Commission (CNBV) grants BBVA authorization to acquire Banco Sabadell unit in the country
BBVA has received the approval of the National Banking and Securities Commission (CNBV) to acquire indirect control of Banco Sabadell’s Mexican banking franchise. BBVA has now received all the necessary authorizations from Mexican regulators.
This approval joins the authorization granted by Mexico’s Federal Economic Competition Commission (COFECE) in December 2024. The agency concluded that the transaction does not pose risks for competition in the country’s banking sector.
BBVA also received three of the most significant approvals in Europe: the approval of the Prudential Regulation Authority (PRA) in the U.K. and the non-objection of the European Central Bank, 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.