Everyone, and especially BBVA Chairman Carlos Torres, will be left wondering whether the overwhelming brand loyalty shown by Banc Sabadell's owners would have remained the same had a better offer been made. If the business lacks substance, it was necessary to convince with a price. And if for a lot of small individual shareholders, the name Sabadell still represented something worth defending, it had to be convinced by price and winning hearts.
But to have empathy you have to understand well the nature of the good you are going to buy and the personality and circumstances of the buyer, and from the tone used by BBVA it seemed as if it were just a Spanish bank buying another one. Torres' rational speech when he came to the territoryIt showed that either he had not been well informed or he had not heard enough to bridge the cultural gap of a fact that was different from the dented bodywork but that remains alive, even if it is in phase boomer resistance, and who has now gone to demonstrate, sees the irony in the form of not selling the shares of a bank.
Under these circumstances, the most insistent advertising campaign we've been subjected to in many years has ended up taking the form of a boomerang. Perhaps it was also necessary to take into account what someone very familiar with the characters in the drama told me, which is that, starting in the summer, the operation entered the phase of a battle of egos. Yesterday, everyone was asking Sabadell to respond to the support it has received by serving the economy of Catalan individuals and businesses. After everything that's happened, it's the least it can do.
