Is Garanti BBVA being sold? Official statement released

Garanti BBVA has issued a statement regarding reports that "BBVA will sell its subsidiary Garanti BBVA."

The statement indicated that the claims do not reflect the truth.

In the statement made by the bank to the Public Disclosure Platform (KAP), it was noted that the offer submitted by BBVA to acquire Banco Sabadell is planned to be financed entirely through BBVA shares.

The statement included the following: "All reports claiming that shares in Garanti BBVA will be sold to finance the offer are completely unfounded and have no basis. BBVA's confidence in and commitment to Garanti BBVA are absolute."