Spain's CNMC Likely to Approve BBVA's Sabadell Takeover as Bankinter Profits Rise 35% and Mapfre Hits Record Highs

Spain's competition regulator CNMC is expected to approve BBVA's proposed acquisition of rival Sabadell as early as next week, potentially advancing the bank's hostile takeover bid. BBVA has stated that the takeover aims to increase market share, attract digital customers, and improve operational efficiency. Meanwhile, Bankinter has reported a 35% increase in profits despite lower interest rates, with lending income remaining stable. Analysts continue to evaluate Bankinter's strong market performance and its potential for further growth. Additionally, Mapfre has reached new all-time highs, surpassing the psychological threshold of 3 euros per share, generating optimism among investors. The reduction in interest rates has also boosted dividends for Ibex-listed real estate investment trusts (socimis), which now offer yields double those of Spanish Treasury bills. BBVA's CEO Onur Genç announced plans to double the bank's gross margin in corporate and investment banking within five years, with CFO Luisa Gómez Bravo outlining strategies to achieve these goals as part of the bank's long-term mission.