It worries a lot, that the Warranty be in the guts of BBVA.
Of course, it would require that a presence be maintained in rural Spain.īut the most important thing is that in Frankfurt and in Brussels the fickle Recep T. The Government will not object, despite the loss of employment that it would entail. For example, him GNPand for the moment, for better or generally for worse, the opinion of the PNV counts. Let’s go to the other side, to BBVA: despite the permanent crisis between the president, Carlos Torres, and the CEO, Onur Genças well as the crisis with Jaime Caruna, strong man of the Council, once Torres’s mentor and today his main critic, who also wants to preside over BBVA, it turns out that some are not willing to give the Basque bank to the Botíns. In any case, now, in 2022, it is Ana Botín who gets tough: she demands the unconditional surrender of Charles Torresthat is, it requires an absorption of BBVA by Santander. Ana Botín has gotten used to fighting the black rock or at least, that is what she thinks, although sources from her own Board of Directors do not see it that way. For this reason, she would be willing to absorb BBVA without caring about a deterioration in her second front: that weak participation in the capital of the booty family against the power of funds. The president of Santander is convinced that commercial banking – another thing would be her beloved investment banking but that is going to cost her many decades – cannot survive in competition but rather in a quasi-monopoly. Ana Botin he’s been thinking about it since the day after they gave him the Popular. History of a merger always frustrated: the rapprochement between the two great entities comes from behind.
In Frankfurt, the fickle Erdogan, in NATO and an ally of Putin, continues to worry Both are united by one goal: that there be a large spanish bank in the European banking union, and, incidentally, definitively close the banking reconversion in Spain and shorten the distance between Spanish banks and their new competitors, especially Fintech.ĭespite the crisis of Onur Genç and that of Jaime Caruana – at BBVA there is not one crisis, but two – some, for example the PNV, are not willing to give away the Basque bank.
Fusion, which was always an aspiration of the Santander and a remedy for the lack of leadership in the BBVAin perpetual civil war, is now taken over by the European Central Bank (ECB)in particular from the ECB man who knows the Spanish banking best in Frankfurt: the ‘deputy governor’ Luis de Guindos.Īnd watch out, because the governor of the Bank of Spain, Pablo Hernandez de Kos, convinced that Spanish banking still needs to gain in profitability, is not disgusted by the marriage between the two large Spanish banks either.
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