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Spain's BBVA takes aim again at $10 billion Sabadell

·1 min

BBVA and Sabadell are in discussions for a potential merger, which would create a Spanish bank with assets close to 1 trillion euros and a market value similar to Santander’s. This comes after previous merger talks between the two banks collapsed four years ago. BBVA aims to strengthen its domestic business and increase lending to small and medium-sized companies, while Sabadell has seen rising profits thanks to higher interest rates. The potential merger follows a period of consolidation in the Spanish banking sector.