BBVA returned to touch the area of 6 euros per share yesterday, after a session that went from less to more, and that led it to close with a revaluation of 6.5%, at the head of the Ibex 35 – along with Santander – and also from the European banking sector. Yesterday’s was its biggest rise in a single session since February, and it recovered a capitalization of 40,000 million euros , something not seen since the beginning of 2018.
The national bank led the gains in the Ibex 35, with Banco Santander that closed up 4.3%, CaixaBank in third position thanks to an advance of 3.52%, Bankinter also managed to increase more than 3% and Sabadell scored 2.8%. In Europe, the Stoxx 600 Banks consolidated its leadership this Tuesday, with an advance in the session of 3.5%, and thus in the year its profits rose to 32.4%.
Back in Spain, what is striking about this situation is that the two banks that could still be seeking to participate in the consolidation of the sector are the ones that increased the most in the last year, those that were left without a dance partner . BBVA, after the advance of more than 6% yesterday, already exceeds a revaluation of 150% since October last year. The Sabadell titles , for their part, achieved a 140% profit in the same period.
What would become of both entities today if the merger were carried out some ten months later? To begin with, the sum of the two entities on the stock market today represents 2.5 times what it was then. Their joint capitalization would amount to 44,100 million euros -only 40,000 are from the entity chaired by Carlos Torres-, compared to the 18,000 million euros that both added then.
The most relevant thing is that Sabadell could fight for something more weight in a hypothetical absorption by BBVA. It would go from 8%, approximately, according to the capitalization that it represented then to something more than 10% today.
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