---
title: "BBVA Chairman says he will not step down despite failure in Sabadell bid"
description: "BBVA Chairman Carlos Torres announced he will not resign following the bank's unsuccessful 16.32 billion euro takeover bid for Sabadell. Despite the setback, Torres emphasized that the outcome of the "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/261565955.md"
published_at: "2025-10-17T07:22:18.000Z"
---

# BBVA Chairman says he will not step down despite failure in Sabadell bid

> BBVA Chairman Carlos Torres announced he will not resign following the bank's unsuccessful 16.32 billion euro takeover bid for Sabadell. Despite the setback, Torres emphasized that the outcome of the bid does not affect his position, asserting he has the full support of the BBVA board and shareholders. The failed bid is seen as a significant disappointment for Torres, who was the main proponent of the offer.

MADRID, Oct 17 (Reuters) - The chairman of Spain’s BBVA (BBVA.MC) , Carlos Torres, said on Friday he would not resign despite the bank’s failure to convince Sabadell (SABE.MC) shareholders to back its 16.32 billion euro ($19.1 billion) hostile takeover bid.

“No, I have repeatedly stated in the past that the outcome of this process had no bearing whatsoever on my continuity at the bank,” Torres said when asked whether he was considering stepping down.

Torres said both he and Chief Executive Officer Onur Genc had the support of the entire BBVA board and its shareholders.

The bid’s failure is considered a blow for Torres, the architect of the offer.

($1 = 0.8545 euros)

### Related Stocks

- [BBVA.US - Banco Bilbao Vizcaya Argentaria](https://longbridge.com/en/quote/BBVA.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| BBVA to early redeem 1 bln euros senior preferred bonds on March 24 | BBVA to early redeem 1 bln euros senior preferred bonds on March 24 | [Link](https://longbridge.com/en/news/275654352.md) |
| BBVA secures EIB's 380 mln euro backing for green projects | BBVA secures EIB's 380 mln euro backing for green projects | [Link](https://longbridge.com/en/news/275651589.md) |
| BBVA says plans to propose Jordi Montalbo as independent board member | BBVA says plans to propose Jordi Montalbo as independent board member | [Link](https://longbridge.com/en/news/275355188.md) |
| BBVA Plans €0.60 Per Share Final Dividend for 2025 Financial Year | BBVA has announced a proposed final dividend of €0.60 per share for the 2025 financial year, subject to approval. This p | [Link](https://longbridge.com/en/news/275199350.md) |
| BBVA Record Profit Puts Bigger Dividend And Buyback In Investor Focus | Banco Bilbao Vizcaya Argentaria (BBVA) reported a record annual profit for 2025, announcing its largest cash dividend an | [Link](https://longbridge.com/en/news/275459321.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.