Carlos Torres Vila tells BBVA shareholders that the transaction with Banco Sabadell represents “clear value creation”
On July 5th, BBVA will hold an extraordinary shareholders’ meeting to approve a capital increase and thus move ahead with the process to purchase Banco Sabadell. BBVA Chair Carlos Torres Vila spoke to the bank’s shareholders in this video, in which he reminded them that this capital increase will not require them to make any disbursements. Furthermore, he stressed that “the combination of both banks will strengthen our position and scale in the Spanish market, giving us greater efficiency and profitability.” In his message, he emphasized that the operation “represents clear value creation” for the shareholders of BBVA and Sabadell, but also for customers, employees and society as a whole.
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The BBVA Chair reminded the bank’s shareholders that: “On the one hand, you will be part of a stronger, more competitive bank. On the other, you will receive high returns on invested capital with a limited impact on our capital ratio.” “All of that, in addition to our attractive shareholder distribution policy, which represents a payout of 40 to 50 percent of profit. We also intend to distribute any excess capital over 12 percent,” he stressed.