BBVA will hold an Extraordinary Shareholders' Meeting on Friday, July 5. The bank seeks approval for a capital increase to finance its takeover bid for Banco Sabadell.
The proposal involves issuing new BBVA shares to exchange with Banco Sabadell shareholders. BBVA Chair Carlos Torres Vila stated the merger would create a leading European bank.
The combined entity would control nearly 22 percent of the Spanish loan market. This scale allows for increased investment in technology and global competition.
BBVA confirmed that current shareholders will not be required to make any payments. The integration aims to deliver financial benefits through synergies and complementary operations.