Banc Sabadell is facing what could be the 30 most decisive days in its 144-year history. Shareholders have until 7 October to decide on the BBVA’s takeover bid, a move that could reshape the Catalan banking landscape.
The merger raises concerns about job cuts and reduced branch networks, despite assurances from BBVA that workforce adjustments would prioritise voluntary departures and relocations. The Spanish government has imposed a three-year freeze on mergers, but restructuring is still expected afterwards.
The outcome rests largely with around 200,000 small shareholders, who control roughly 40% of the capital, alongside institutional investors who may tip the balance. If successful, Catalonia could lose Sabadell as a locally anchored major bank, reducing the number of big Spanish banks from four to three (CaixaBank, Santander, BBVA).
