Madrid, March 18 (Reuters) - BBVA, a Spanish banking entity, expressed confidence that its hostile takeover bid of smaller competitor Sabadell will receive approval from competition authorities in the coming weeks, according to CEO Onur Genc.

The antitrust watchdog has mandated a phase 2 review for BBVA's all-share offer for Sabadell, valued at over 12 billion euros ($12.64 billion) in April, potentially extending the process into 2025.

Genc stated, "Our belief is that the competition authority will approve the process shortly ... we are nearing the conclusion," emphasizing that BBVA has proposed an unprecedented set of measures to facilitate the deal.

Approval from Spain's market supervisor CNMV is also a requisite, which anticipates evaluating the takeover prospectus beforehand.

One rationale for acquiring Sabadell is to decrease BBVA's exposure to emerging markets like Mexico and Turkey, with the CEO forecasting a net profit of 2.5 to 3 billion euros ($2.73 billion) over the next two to three years.

($1 = 0.9165 euros)