BRIEF-BBVA's CEO: Has "Clear Conviction" That Sabadell Transaction Will Go Through

Banco Bilbao Vizcaya Argentaria, S.A. Sponsored ADR -7.74% Pre
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- Chief Executive Officer Of Spain's BBVA BBVA.MC, Onur Genc:

  • SAYS BANK IS AWAITING THE FINAL REGULATORY APPROVALS FOR SABADELL BID

  • HAS "A CLEAR CONVICTION" THAT SABADELL TRANSACTION WILL GO THROUGH

  • CONFIRMS CONVICTION SABADELL DEAL IS A "VALUE CREATING" TRANSACTION FOR "OUR SHAREHOLDERS" AND FOR ALL STAKEHOLDERS INVOLVED

  • REMAINS COMMITTED TO CONTINUE DISTRIBUTING TO SHAREHOLDERS ANY EXCESS CAPITAL ABOVE 12%, WOULD RESUME BUYBACKS AFTER COMPLETING SABADELL'S TRANSACTION

  • SEES ROTE IN 2025 SIMILAR TO 2024 LEVELS

  • SEES COST OF RISK HOVERING AROUND CURRENT LEVELS OF 112 BASIS POINTS IN TURKEY BY END 2024

Further company coverage: BBVA.MC


(Reporting By Madrid Newsroom)

((emma.pinedo@thomsonreuters.com;))

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