Wednesday, December 8

BBVA, Turkey, Singular Bank and private banking


BBVA suffered a new 5 percent collapse this Thursday that ended up pushing the decline in the IBEX 35. The selective lost 1 percent and 9,000 points.

“The evolution of BBVA in recent months has been quite positive, but the takeover for 51 percent of Garanti has been a disappointment for investors,” explains Jesús Reglero, professor at OBS Business School and recognized financial expert in the podcast of finance.com.

“It is complex at the present time. The Turkish central bank has lowered the rates, and the lira is devalued ”, details the analyst.

The expert also valued the purchase of the private banking business of UBS by Singular Bank, advanced in September by Inversión.

“The sector is in full consolidation, and actors such as Singular Bank or Andbank are acting as consolidators,” says Reglero.

“For UBS it is also good, it has done its business and had its capital gains,” he says.


Private banking, a sector on the rise in Spain

Regarding the private banking business in Spain, Reglero points out that it is “one of the parts of finance where they can differentiate themselves the most.”

For this reason, the sector has also attracted insurers such as Mapfre or Mutua, since it is “a differential aspect that they can give their clients”.

“The private banking business is a bit more personal, you don’t change overnight. The trend will accelerate for two reasons: because there are still many small players in Spain and because it is a market in total growth. It is much less developed than in other European countries ”, explains the expert.

  • Direction and production: José Jiménez
  • Realization: Covadonga Lacruz
  • Recorded in Madrid on November 18, 2021



www.finanzas.com

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