BBVA’s Spying Case Won’t Prompt Bank of Spain Action Until Over

A spying case involving Banco Bilbao Vizcaya Argentaria SA won’t prompt any action from its regulator until after a final ruling in the matter, a top <-bsp-bb-link state="{"bbHref":"bbg://securities/1181Z%20SM%20Equity","_id":"00000190-3b13-d497-a7fb-ff1f02cb0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Bank of Spain official said.

The bank and several executives had been placed under formal investigation in early 2020 over alleged payments made to former high-ranking police officer to spy on rivals, politicians and journalists. A National Court judge said on Thursday that BBVA and its ex-chairman <-bsp-person state="{"_id":"00000190-3b13-d497-a7fb-ff1f02cf0000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Francisco Gonzalez should stand trial, potentially adding to complications as Spain’s second-largest bank pursues a hostile takeover of rival Banco Sabadell SA.

Read more: <-bsp-bb-link state="{"bbDocId":"SFDY7KDWX2PS","_id":"00000190-3b13-d497-a7fb-ff1f02cf0002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Spanish Judge ...