BBVA has reached a market value of more than €100 billion for the first time, just two weeks after its attempted takeover of Banco Sabadell collapsed.
The milestone makes the Madrid-based lender one of only four Spanish companies worth over €100 billion on the stock market, alongside Santander, Iberdrola and Inditex.
Its shares have jumped around 12% since the failed bid, as investors welcomed the end of uncertainty surrounding a deal that would have required heavy capital spending and integration costs.
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Analysts say the market is now refocusing on BBVA’s solid balance sheet and strong earnings outlook.
BBVA’s shares have also been lifted by its performance in Mexico, which remains the group’s biggest profit engine, and by robust lending margins in Spain.
The turnaround follows months of market scepticism over the Sabadell bid, which drew political resistance and concerns about job losses and competition.
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With that episode now behind it, BBVA’s market capitalisation has climbed close to Banco Santander’s €128 billion, narrowing the gap between Spain’s two biggest banks.
Analysts say the move underlines investor confidence in BBVA’s ability to grow organically and reward shareholders without pursuing risky mergers.
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