Spain is different

Three years ago, when Banco Santander merged with Banco Central Hispano and Banco Bilbao Vizcaya merged with Argentaria to create the two largest banks in Spain, the new BBVA's investor relations received more plaudits than BSCH's - now re-baptized as SCH. Today, however, the situation has completely reversed.Industry specialists deemed BBVA's merger to be more effective and better explained than its competitor's, and the integration was completed more quickly. 'BBVA intended from the beginning