Banco Bilbao Vizcaya Argentaria SA (BBVA), Spain's second-largest lender, will analyze acquisition opportunities in the domestic market in coming months but won't be rushed into making moves, its chief operating officer said Wednesday.

"We'll analyze any deal that generates value in the coming months, but we won't be rushed to enter a deal at any price," Angel Cano said on the sidelines of a banking conference in Madrid, in answer to a question on whether his bank was interested in buying savings banks, and more specifically the troubled lender Caja del Mediterraneo SA (CAM.MC).

Cano ruled out a takeover of the Alicante-based lender in the very short term. "It's very difficult to say [what will happen]. We haven't begun to analyze anything."

Spanish media has reported that CAM, which last week sought a capital injection of EUR2.8 billion from Spain's bailout fund, reached out in recent days to the country's biggest lenders in an attempt to avoid nationalization.

CAM, a big lender along the Mediterranean coastline has been hard hit by Spain's housing bust, severely hampering its solvency.

Company website: www.bbva.com

-By Christopher Bjork, Dow Jones Newswires; 34 91 395 8123; christopher.bjork@dowjones.com
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