The second half of 2020 has come revolt in the banking sector. canada mobile directory The first was, last September, the integration of two financial giants such as Banka and Caixa bank. Everything indicates that the next to join the merger route are two other giants of Spanish banking: El Sabadell and BBVA . canada mobile directory What is happening in the sector? The rumors had been ringing in the specialized media for months and this Monday, November 16, the news came to light. canada mobile directory BBVA has contracted the US bank JP Morgan to develop the viability of the purchase of Sabadell. Although there are still no official statements, the comments made on several occasions by Onus Genk, CEO of BBVA, have come to our memory, assuring that they were willing to seek opportunities for acquisitions or mergers within the Spanish banking sector.
At the moment, the news has caused a notable growth in the value of the shares of the two entities. canada mobile directory It should not be forgotten that both the Bank of Spain and the European Central Bank have highlighted the importance that, after the situation created by the coronavirus and the crisis associated with the pandemic , canada mobile directory there is a process of bank concentration in our country to alleviate the generated situation. Downward profitability in the banking sector We are probably immersed in a process of mergers in the banking sector determined by the consequences of COVID-19 , canada mobile directory but also by the need to increase profitability that has been declining significantly for years. The idea is that mergers imply a reduction in costs that results in an increase in profitability. In any case, these operations are extremely delicate, since they can directly affect customers.
Lifetime savings are one of the most sensitive aspects for any citizen and banks, Gambling Email List canada mobile directory as their depositories, support outstanding customer service. The success of merger processes such as the one that Sabadell and BBVA appear to be carrying out depends largely on all clients, canada mobile directory from the most humble to large accounts, staying loyal to the new resulting entity . And the best way to avoid user uncertainty is to develop close and transparent communication. canada mobile directory With the crisis of 2008 we sadly see how the brand image of the big banks fell through the ground . canada mobile directory And he did it just by not showing transparency, by not being close and empathetic with the needs of the clients. Opting for opaque communication ends up being synonymous, in the medium term, with financial disaster . Hopefully this new era of bank mergers will be accompanied by responsible and humanistic marketing and communication.