Mikel Bilbao, partner at GBS Finance, talks about Savings banks Chaos

“All the private equity firms in Spain, and from abroad, have looked over the portfolios of the savings banks in detail, but there haven’t been many deals,” says Mikel Bilbao, a partner at private bank GBS Finance.

“Initially savings banks were selling to recover their costs. They were reluctant to sell at a discount because of the impact on the profit and loss account”, explains Bilbao. ” They did not want to show losses because it immediately made them look weak. Now they really do need liquidity, and that outweighs the profit and loss account impact”.

OFFICIAL STATEMENT – IDENTITY THEFT ALERT

Madrid, October 22, 2025

Capital Markets AV SA, a regulated entity and part of the GBS Finance Group, hereby informs that we have detected an attempt at identity theft through the unauthorized use of our name and the creation of a fraudulent website falsely claiming to represent our firm.

We would like to state that no security breach has occurred in our systems or official communications. This fraudulent attempt was carried out by third parties unrelated to our organization, with the aim of misleading potential investors or clients.

In response to this situation, we have taken the following actions:

  • Filed a formal complaint with the National Securities Market Commission (CNMV) and the competent authorities.
  • Activated our internal reputation protection protocols and initiated cooperation with specialized cybersecurity organizations.

We strongly recommend that all our clients, partners, and the general public:

  • Always verify that communications originate from our official channels.
  • Do not provide personal information or make payments if there is any doubt regarding the legitimacy of the contact.
  • Report any suspicious activity to the following email address: gbs@gbsfinance.com

 

All official information regarding our activities is available exclusively through our corporate channels. We appreciate your cooperation and reaffirm our commitment to transparency, security, and the protection of our clients.

Capital Markets AV SA
GBS Finance