Banco Sabadell : Bankia may be leaving, but BBVA is there to consol(idat)e; recommendations raised to Speculative Buy
Banco Sabadell has been at the core of speculations about the next candidate in the wave of M&A in the Spanish banking which the CaixaBank-Bankia merger talks are expected to spur. We believe this is for (good) reasons. Banco Sabadell has been for long among potential candidates and a combination with Bankia has regularly hit the headlines and was fuelled by managements statements. The likely loss of its partner of choice has cornered Banco Sabadell rendering M&A more likely than...Banco de Sabadell is a bank holding company. Through its subsidiaries, Co. provides a range of banking and financial services in Spain and internationally. Co.'s activities include investment banking, private banking, portfolio management, mortgage loans, commercial loans and other financial products and services, deposits and international banking operations. Co. is also engaged in life insurance underwriting and brokerage. Additionally, Co. is engaged in capital property and development, as well as investing in environmental projects. As of Dec 31 2014, Co. had total assets of Euro163,345,673,000 and total customer deposits of Euro98,208,370,000.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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