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...Since then, its shares have climbed 5 per cent, underperforming Spanish rival BBVA but doing better than CaixaBank. On Monday Santander’s share price rose nearly 3 per cent....
...If it secures nearly 10 per cent of Telefónica’s share it will catapult past CaixaBank and BBVA — two pillars of corporate Spain — to become Telefónica’s largest shareholder....
...Should the Spanish state and STC secure stakes of nearly 10 per cent, they will catapult past CaixaBank and BBVA — two pillars of corporate Spain — to become Telefónica’s largest shareholders....
...STC’s plan would catapult it past CaixaBank and BBVA — two pillars of corporate Spain with large stakes in the group — to become Telefónica’s largest shareholder....
...In the banking sector, Santander’s bill was €224mn, equivalent to 9 per cent of its first-quarter profits, while BBVA’s €225mn was equal to 12 per cent....
...The shares rallied 5 per cent, ahead of BBVA and CaixaBank. But Santander stock, unlike those rivals, has yet to exceed pre-pandemic peaks. It has a newfound focus on improving per-share measures....
...Spanish lenders including Santander and BBVA have decided to challenge the authorities over the temporary taxes after paying their first instalment, which was due by February 20....
...Shares in CaixaBank, Bankinter and Sabadell fell by about 10 per cent after the levy was announced while those of Santander and BBVA, the country’s two biggest banks by market cap, dropped by nearly 4 per...
...Santander took longer to make the changes than domestic rival BBVA, which separated the roles of chair and chief executive in 2018....
...Buoyed by its performance, the lender joined European peers such as BBVA and UniCredit in pledging higher payouts for shareholders as it published a strategy update for 2022 to 2025....
...Sabadell’s share price has virtually doubled since the talks with BBVA collapsed almost a year ago, as the group steadily increased profits this year after chalking up a mere €2m for 2020....
...Spain’s BBVA announced a retreat from the US retail market with the sale of its operations to PNC Financial last year. There is an inevitability to the retreat....
...Spain’s BBVA and UK-listed HSBC have already announced their own retreats from US regional lending....
...Spain’s BBVA reached an $11.6bn deal in November last year to sell its US operations to Pittsburgh-based PNC, while HSBC has sold its North American unit to Citizens....
...Other Spanish groups are involved in the Villarejo case, including BBVA, which in 2019 was put under investigation as a legal entity of interest over allegations including wiretapping related to more than...
...In 2019, the court put BBVA under investigation as a legal entity of interest over allegations including wiretapping related to more than €10m worth of contracts with Villarejo’s company....
...Analysts and investors have long questioned Santander’s commitment to the US market, particularly as European rivals such as BBVA and HSBC scale back their operations there....
...BBVA has confirmed takeover talks with local laggard Banco Sabadell. A deal would be convenient for politicians and regulators. BBVA shares fell 6 per cent even as Sabadell rose by the same amount....
...price suggested by BBVA to be unacceptably low....
...Sabadell has a market capitalisation of €2.3bn compared with BBVA’s €24.5bn....
...Post-merger reductions target a cost-to-income ratio of 46 per cent, in line with higher rated locals such as BBVA....
...However, BBVA stressed its own plans for Sabadell are far from a done deal. “There is no certainty that a decision will be taken,” said Onur Genc, BBVA chief executive, last week....
...Even before the merger, CaixaBank was Spain’s biggest retail bank, although, apart from its Portuguese subsidiary BPI, it lacks the foreign operations of Santander and BBVA....
...TSB said on Wednesday that Meddings had indicated he intended to leave last year, but stayed on temporarily while Sabadell held merger talks with Spanish rival BBVA and launched a strategic review that could...
...Both banks still employ around a fifth of their staff at head offices, compared to just 7 per cent at BBVA....
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