The president of the Alicante Province Business Union (Uepal) has pressed the National Commission on Markets and Competition (CNMC) to weigh in on the potential fallout from a proposed BBVA takeover of Banco Sabadell. In a formal letter, he pointed to studies from multiple bodies, including Catalonia’s Competition Authority, which warn of the risks such a concentration could pose to the province’s business ecosystem.
The document is addressed to CNMC President Cani Fernández. It communicates a clear concern and a firm rejection of the consolidation that would follow an approval of the offer. The association urges the commission to ensure the market for finance can continue to offer viable, competitive options that meet the needs of local enterprises. Uepal argues that Alicante, a province ranked fourth in population and fifth in GDP share within Spain, plays a pivotal role in key sectors. Tourism, agricultural exports, and the residential market are standout areas that would be affected by any significant disruption in the banking landscape.
Business leaders in the region emphasize that Banco Sabadell has been performing well. They note improvements in confidence rankings and describe Sabadell as a solid, profitable institution with deep roots in certain Spanish regions. Yet they question the benefits of expanding its footprint abroad, pointing to operations in Mexico, a British subsidiary, and market shares in some South American nations. “From an objective standpoint, there are no compelling reasons to promote or permit an absorption of this entity,” they assert.
The concerns extend to potential negative effects on credit access for small and medium-sized enterprises and individual borrowers. Higher financing costs and reduced savers’ returns are cited as likely consequences. Among the fears is the possibility of branch closures to avoid duplicating structures after a takeover, which could trigger a cascade of layoffs across the network.
Uepal also highlights a broader risk: the loss of territorial cohesion if Sabadell’s headquarters were to relocate. The Sabadell site has acted as a catalyst for major investments and as an anchor that attracts companies to locate in Alicante. The potential relocation could undermine this dynamic and weaken the province’s attractiveness as a business hub.