Oliu, acclaimed at an event in the Chamber: "Sabadell is fundamental to the Catalan economy."

The president of the Vallesan bank receives a standing ovation from economic and business organizations and assures that they did not expect such a resounding result from the takeover bid.

BarcelonaHe president of Banc Sabadell, Josep Oliu, has admitted in his first reaction after the failure of the BBVA takeover bid that he hadn't expected "such a resounding result." "It was a big surprise," he told Catalunya Ràdio, adding that he thought the takeover bid would be "over 30%." Oliu said they were aware of the "absolute support" of minority shareholders, but that they had "no evidence" of the overall support there would be for the Vallesan bank's project.

The day was intense. After meeting with the President of the Generalitat (Catalan Government), Salvador Illa, Oliu went to the Barcelona Chamber of Commerce, where he was applauded by representatives of the Catalan economic and business world, led by the president of this organization and the Council of Chambers, Josep Santacreu, for whom today "is a day of celebration."

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Both Sabadell's Chairman and CEO, César González-Bueno, thanked the bank's shareholders, customers, employees, and the public at large for their support over the past year and a half in helping the bank continue to operate alone. "It is a great satisfaction to confirm that Banco Sabadell will be able to continue operating alone and continue the history of service to its customers that began more than 144 years ago," the Chairman stated in a statement earlier.

At the event at the Chamber of Commerce, where Oliu was accompanied by the CEO of Sabadell, César González-Bueno; the director of corporate banking, Carles Ventura; and the regional director for Catalonia, Xavier Comerma, among other executives, representatives from the 13 Catalan chambers of commerce, Foment del Treball, Pimec, Barcelona Global, the College of Economists, and FemCat were also present. The president of Sabadell took the opportunity to express his gratitude for the support received. during the 17 months that the takeover bid lastedThere were also prominent figures from academia, such as Guillem López Casasnovas; the president of FemCat, Oriol Guixà; and the former Minister of Economy, Andreu Mas-Colell, among others.

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In addition to insisting that both Sabadell and BBVA are more capable of creating value separately than together and admitting that they did not expect such a resounding result, Oliu highlighted the importance of the bank to the economic and financial structure of Catalonia. He declined to say much when asked about the future of Mexican investor and director David Martínez Guzmán, who broke the unanimity of the board of directors and announced that he would participate in the takeover bid.

Oliu, who revealed on Catalunya Ràdio that he called him this Thursday to congratulate him, BBVA President Carlos Torres, asserted that his counterpart also did not expect the takeover bid to be so resoundingly unsuccessful. He added that all of this makes this "the end of the story" [of the takeover bid]. He indicated, in this regard, that He does not believe that BBVA will try it again in the future."Banco Sabadell and BBVA are two large entities that generate more value separately than together."

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In the radio interview, he explained that the failure of the takeover bid was the best solution. "This is the best way out for everyone, and it has been achieved thanks to the overwhelming and unwavering support of our shareholders, clients, and society in general, and also thanks to the commendable effort and commitment of the great team of professionals at Banc Sabadell," said the banker, who also thanked the Catalan business community for their support of the bank during the long process.

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For his part, the CEO defended Sabadell's independence. "This project has a great present and a better future independently, after the major transformation undertaken in the last five years," said González-Bueno, who added that "as our strategic plan states, we will continue to grow in the coming years, increase our profitability to 16% by 2027, and continue at a strong pace of revenue generation. We will generate 160 million euros for our shareholders until 2027, the equivalent of 40% of the bank's current value."

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González-Bueno said that Sabadell will do all this "by providing the best service" to its customers and "supporting the Spanish economy with more financing." "Our customers want Banco Sabadell as an independent entity, and we will show them that Banco Sabadell is worth continuing to exist," emphasized González-Bueno, who reiterated "Sabadell's goal of being the best bank in Spain."