Imihlangano emibili engajwayelekile ka Banco Sabadell, ebanjwe maphakathi no-August, baye bavula indlela yokuhlinzwa okukhulu: ukuchithwa kwe TSB kanye ne-cast engavamile 2.500 million euroUmlayezo oya emakethe ucacile: inhlangano yesiCatalan iqinisa umzila wayo wodwa futhi ibeka indawo Ibhidi yokuthatha ye-BBVA endaweni yokushuba okukhulu.
Umkhandlu ufike emhlanganweni ukwesekwa ngaphambilini kanye nokwesekwa kwamafemu afana I-ISS kanye ne-Glass Lewis. Ngokuhambisanayo, kwa-BBVA, i-CEO yayo I-Onur Genç uye wasikisela ukuthi, ngemva kwemihlangano, bangakwazi cabanga kabusha ngomnikelo, okuhlanganisa inketho yokuyikhipha uma ingadali inani.
Lokho okugunyazwe yi-double board nokuthi umsebenzi uhamba kanjani
Abaninimasheya banikeze ukukhanya okuluhlaza ukuze kudayiswe TSB a ISantander UK ngentengo yokuqala ye- Amakhilogremu ayizigidi ezingama-2.650 (cishe mayelana ne-3.050-3.098 billion euros), ngaphansi kokulungiswa kuze kufike Amakhilogremu ayizigidi ezingama-2.875 uma ukuvala kwenzeka ekupheleni kwekota yokuqala ka-2026 (cishe ama-euro ayizigidi eziyizinkulungwane ezingu-3.361). Ishejuli ecatshangwayo ibeka i- kuphothulwe ngoMashi 2026, kuncike ekugunyazweni kokulawula.
U-A uphinde wagunyazwa ikhokhele ama-dividend angu-0,50 € ngesabelo ngasinye (cishe ama-euro ayizigidi eziyizinkulungwane ezingu-2.500) axhunywe kulokhu kukhishwa kwemali. Abaninimasheya ngosuku lokukhokha Abangakwazi ukukuqoqa kuyoba yilabo abayoba nelungelo lokukuthola; labo abathengisa ngaphambili noma ababambe iqhaza kwibhidi yokuthatha ngeke babe nelungelo kuleyo mali.
Ukubamba iqhaza kulo mcimbi bekuphezulu: abalandelayo babekhona: 74,8% wemali, isabelo esiphezulu kakhulu kusukela ngo-2004, futhi izinqumo zaqhubeka nazo ukwesekwa kusondele ku-99,7%Lokhu kusekelwa kuqinisa isu lokugcina ukuzimela kanye nokubuyisela imali ngaphandle kokuyekethisa solvency noma amandla okukhula okuphilayo.
Abahlaziyi bemakethe baveza ukuthi ukudayiswa kuvunyelwene ku-a ezidinga eziningi ngesikhathi esifanele: I-UK ibhekene nokuncipha kanye nokusikeka okungenzeka Ibhange laseNgilandi, izici ezingase zicekele phansi inani le-TSB esikhathini esizayo. Abanye ochwepheshe bagqamisa ushintsho lwamasu: ukugxila kakhulu eSpain kanye ukudala inani labanikazi bamasheya.
Imithelela kubhidi lokuthatha: izikhuthazo, isikhathi, nezimo ezingaba khona
Ukuhlanganiswa kwe ukuthengiswa kwe-TSB kanye nesabelo se-mega sixabanisa isibalo sokuthatha. Iphrimiyamu yomnikelo inakho kuhlanjululwe emakethe kanye nabatshalizimali abahlukahlukene bafuna ukuthi i-BBVA ingxenye yemali eyengeziwe ukuyenza ikhange kakhulu. Izindlu ezinkulu ezifana Citi, Deutsche Bank, Barclays noma Alantra bakhulume kulowo mugqa, bephakamisa ukuthi kwengezwe ukheshi ekuthuthukisweni okudlula i- Izigidi ezingu-2.000.
Kusukela kudome yebhange le-opante, I-Onur Genç uphinde wakugcizelela ukuthi"asikho isiqiniseko sanoma yini"futhi bazonquma izinyathelo ezilandelayo ngemuva kokuhlola amabhodi. Ukunikezwa kuncike ku-a isisindo esibucayi esiseduze nengxenye yenhloko-dolobha kaSabadell, kanye ne-BBVA ishiye ivulekile ithuba lokuthi yisuse uma ingahlangabezani nomkhawulo wokudala inani layo.
Mayelana nemithetho kanye nesikhathi, i-BBVA ihlehlise ukuthunyelwa kwe iphamfulethi ukuhlanganisa imiphumela yesigamu sonyaka kanye nezinqumo zebhodi, ngenhloso yokuyethula ngasekupheleni kuka-August noma ekuqaleni kukaSepthemba. isikhathi sokwamukela ingaqala phakathi no-September futhi igcine phakathi Izinsuku zekhalenda ezingama-30 nezingama-70. Noma ngabe isicelo sokuthatha siphumelele, uHulumeni ubeke a i-veto yokuhlanganisa ubuncane beminyaka emithathu (ngenketho kokubili ngaphezulu), ukukhawulela ama-synergies esikhathini esifushane.
Umthelela wentela uphinde ube nomthelela esinqumweni somthengisi ngamunye, njengoba ukusebenza kungathathi hlangothi futhi ukwamukelwa kwebhidi lokuthatha kungase kuhlanganise intela yentela inani elidlulile. Kusuka kwa-Sabadell, amakhasimende anamasheya afakwe ebhizinisini ayakhunjuzwa ukuthi ane- ithuluzi lokubala ukulinganisa lowo mphumela.
I-BBVA's exchange, ukulinganisa kanye ne-capital buffer
Isiphakamiso samanje siyacabanga Isabelo esisha se-BBVA esingu-1 ngaphezulu 0,70 euro cash Ngamunye Izenzo ze-5,3456 kusuka eSabadell. Ngemva kwe i-dividend evamile Kuma-euro angu-0,07 uSabadell azowakhokha ekupheleni kuka-Agasti, i-BBVA ilindele ukulungiswa ku-equation kuze kube Isabelo esingu-1 kanye nama-euro angu-0,70 kuwo wonke amasheya angu-5,5483.
Ukulungiswa okulandelanayo kwehlise ukubamba iqhaza kwesikhathi esizayo kwe- Abanikazi bamasheya eSabadell ebhange elihlangene, lisuka endaweni ezungezile 16,17% ekuqaleni cishe 14,2%. Ukwengeza, ukulinganisa okushiwo kwebhidi lokuthatha kungaphansi kwe imali emakethe yamasheya yamanje, ngokuhlukahluka okuzungezile 2.600 million euro.
Mayelana nezinsiza, i-BBVA ine- Isilinganiso se-CET1 sika-13,34% kanye nemali enqwabelene enkulu kune 4.400 million euro ngaphezu kwethagethi yayo ephezulu, ngisho nesaphulelo sezibopho zemali esezimenyezelwe kakade ngebhidi yokuyithatha. Nakuba izosebenza ngaphandle kokuhlanganiswa phakathi nesikhathi esisungulwe uHulumeni, lo mcamelo usamile Kakhulu.
Ngaleyo ngxenye, ibhange lingakwazi—uma likhetha ukwenza kanjalo—lilungise isu lalo lokuqinisa umnikelo ngemali eyengeziwe, isimo abanye ochwepheshe abasibona sibalulekile ukuze kwandiswe amathuba okuphumelela. Nokho, abanye baxwayisa ngokuthi kungenzeka ukwanda ngokweqile nciphisa intengo yebhange futhi ithinte ukuqondisa kwayo kwezezimali.
Izingozi namandla okuqhubeka uwedwa
Icebo likaSabadell liyacabanga ihola izigidigidi eziyisi-6.300 kuze kube ngu-2027, okuhlanganisa izinzuzo kanye nokuthenga. Nakuba le nqubomgomo iye yasekelwa abaninimasheya emihlanganweni, ihilela ukuhoxiswa kwengxenye ebalulekile capital futhi, ngenxa yalokho, kunciphisa amandla ebhizinisi okubhekana nokushaqeka okubi. Ukuhlolwa kokucindezeleka kwe I-European Banking Authority Bahlonze i-Sabadell njengenye yezinkampani okumele ziqaphe isimo sayo ezimeni ezinzima.
Abaphathi baphikisa ngokuthi ukuphathwa kwe-balance sheet kusebenza kahle: kubuyisela imali eyengeziwe engayidingi ekukhuleni kwemvelo futhi igxile ebhizinisini España. Imiphumela yakamuva, enenzuzo eqinile nokusebenza okuhle ku Ibha, isekela leli su, nakuba imijikelezo yezomnotho kanye nezimo zokujwayela kwesilinganiso zeluleka ngokuqapha.
Ezindabeni zabasebenzi nezohwebo, izinyunyana zixwayisa ngezimfuno ezingase zikhuphuke kunethiwekhi uma i-TSB ilahleka njengomthombo wemali engenayo. Ngaphezu kwalokho, isimo senhlalo nezepolitiki, esingavuni ukuhlanganiswa kwamabhange amakhulu, sibe nomthelela ekuxwayiseni nasekuklanyweni kwebhidi yokuthatha.
Njengoba imihlangano isiqediwe nezinombolo sezicacile, inqubo ingena esigabeni sayo esiwujuqu: I-BBVA izonquma ukuthi igcina, ithuthukise noma ihoxise isiphakamiso sakho lapho ushicilela i-prospectus ebuyekeziwe, kuyilapho ozakwethu be-Sabadell kuzodingeka bahlole phakathi mega dividend kanye nesilinganiso sokushintshana sokugcina. Umphumela uzoncika ekutheni ukwakheka nentengo yebhalansi yokunikezwayo ingozi, ukubuya kanye nezikhathi ngokuhlanganyela.
