BBVA Compass
BBVA Compass
Antoni Ballabriga, Global Head of Sustainability Intelligence & Advocacy at BBVA and member of the EU High-Level Expert Group (HLEG) on Scaling Up Sustainable Finance in Low and Middle-income Countries, explains the key findings and recommendations that the HLEG will submit to the European Commission.
BBVA Chair Carlos Torres Vila gave the opening presentation at the BBVA Mexico's annual National Meeting of Regional Advisors 2024, the Group's flagship summit in Mexico. Addressing more than 400 business leaders, he reasserted BBVA's commitment to Mexico by announcing that the bank's investments in the country will reach 81.4 billion pesos, or around €4.45 billion, well above the amount originally foreseen in the 2019-2024 plan.
In a letter addressed to the Board of Directors of Banco Sabadell, BBVA states that merging the two entities would create the most compelling industrial project in European banking. In this sense, it highlights the benefits of the merger for both entities, their shareholders, employees, clients and the communities in which they operate.
Garanti BBVA International, a Garanti BBVA subsidiary known for its ongoing sustainable financing initiatives, has reached an agreement with Kordsa Teknik Tekstil A.Ş. (Kordsa) for a $50 million sustainable loan.
BBVA mobilized €20 billion in sustainable business in the first quarter of 2024, up 41 percent on the same period last year. The bank is now ahead of the curve in achieving its goal of mobilizing €300 billion between 2018 and 2025, having already reached €226 billion. Of this figure, 77 percent will go toward combating climate change and 23 percent to promoting inclusive growth.
At the presentation of first-quarter results, CEO Onur Genç said that BBVA expects improved profit both this year and next year compared to the same period of 2023. Specifically, "Our outlook for net attributable profit this year improves to double-digit growth. I see an even better 2025 versus 2024," he said. Genç also anticipates higher recurring revenue in the BBVA Group account in 2024, thanks to an improvement in the forecast for net interest income in Spain.
Garanti BBVA announced its financial results for the first quarter of 2024. The bank’s net income for the first three months of the year stood at TL 22.48 billion; total assets were TL 2.46 trillion; and cash and non-cash loans reached TL 1.85 trillion. Customer deposits represented 71 percent of assets - the main source of funding. The total deposit base reached TL 1.75 trillion, up 9.3 percent this quarter. Garanti BBVA’s capital adequacy ratio was 15.4 percent,* its return on average equity (ROAE) was 36 percent, and return on average assets (ROAA) was 3.9 percent.
*Does not include the forbearance introduced by BRSA
Jorge Bledel is the new country manager of BBVA in Argentina, replacing Martín Zarich. Additionally, Jorge Matuk will be the new head of Forum Chile, replacing Ignacio Sanz y Arcelus. These appointments are subject to the corresponding authorizations from local regulators.
Garanti BBVA Digital Assets will shortly be offering Avalanche c-chain support for AVAX coins to users of its Garanti BBVA Crypto mobile platform.
Clean technologies, also known as 'cleantech', are technologies that contribute to sustainability and care for the environment. This includes emissions reduction, biodiversity protection and water treatment.
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In this episode of BBVA Greenfluencers, Dharel Patel, Head of Environment & Sustainability at National Express, tells us how Mobico (National Express) is leading the process of accelerating the decarbonization of transport and supporting cities in the UK to become more sustainable and environmentally friendly.
Esther Duflo is an economist known for her pioneering work in the field of the economics of development and the fight against poverty. In 2019, she received the Nobel Prize in Economics, making her the second woman in history to win this prestigious award, and the youngest to date.
BBVA is a founding member of the Quantum Safe Financial Forum (QSFF), a safe space for collaboration between European and US financial firms promoted by Europol’s European Cybercrime Centre (EC3). The alliance aims to foster the creation of new technological systems within the financial industry that are safe, secure and resilient to malicious attacks that rely on quantum computing.
Bonus, Garanti BBVA’s most popular credit card, is now celebrating its 24th anniversary. Bonus also happens to be a credit card platform, having amassed some 18 million users and eight partner banks.
Garanti BBVA Digital Asset’s crypto app, ‘Garanti BBVA Crypto’ was recently presented the award for ‘Pioneers of Digital Finance’ by KPMG Turkey and the Financial Innovation and Technology Association (FINTR).
The international publication has granted two ‘Innovators Awards’ to BBVA for its crypto asset service in Switzerland and for an automated process the bank has developed to guide the creation and application of machine learning models for the early detection and management of debt.
The BBVA Foundation Frontiers of Knowledge Award in the Humanities and Social Sciences category goes to American psychologist Elke Weber in recognition of her research into “environmental decision-making and human responses to climate change.” Weber was the first psychologist to join the IPCC, a group of experts to which she brought her knowledge of decision-making theory.
Once again, BBVA has been busy promoting sustainability training among 418 of its suppliers and SME customers across 13 countries in which it operates. A total of 552 people will soon be taking part in the UN Global Compact Sustainable Suppliers Training Programme, of whom 59% (326) are women.
On April 8, the European Union's instant payments regulation finally came into force. However, many citizens are still unaware of the changes that this regulation will have on the way they pay.
We are immersed in an exciting era of unprecedented transformation in economic history. Two global macro trends will change the economy and industry as we know it in the coming years: first, technological disruption driven by advances in artificial intelligence; secondly, decarbonization. These emerging megatrends will transform business models in all sectors and provide an unprecedented opportunity for innovation and entrepreneurship.
BBVA Chair Carlos Torres Vila spoke on Monday on Spain's opportunity to lead investment in the clean technologies required for the decarbonization of the economy. In his view, if the implementation of the EU Net-Zero Industry Act is ambitious in Spain, the country’s leading innovative companies will be able to invest in cleantech and place it in a better position compared to its European peers.
Financial and commercial services
Carlos Torres Vila opens the BBVA Global Wealth Advisors office in Miami
Last Friday, the Chair of BBVA formally opened the new Miami office of BBVA Global Wealth Advisors (GWA), BBVA’s U.S. registered investment advisory unit. Carlos Torres Vila met with the team at this new office, comprised of over 30 professionals.
“Decarbonization is a technological revolution that requires innovation and financing. Its scope is global and it will affect all industries and sectors,” said Antonio Bravo, Global Head of Sustainability Strategy and CIB at BBVA. In the framework of the Energy Tech Summit, which ended yesterday in Bilbao, Bravo emphasized “the key role” of financing new clean technologies. “BBVA is committed to financing cleantech to facilitate its growth on an industrial scale,” he stressed.
In this new episode of BBVA Greenfluencers, Emmanuel Normant, Vice President of Sustainable Development at Saint-Gobain, tells us how the legendary company applies sustainability in its business strategy and how they act against climate change.
For the fourth year in a row, the BBVA Group’s Uruguayan franchise was named the Best Trade Finance Bank in 2024 by the international magazine Global Finance.
Garanti BBVA, in its role as a supporter of startup growth and investment, has revealed the latest cohort of startups joining its renowned Garanti BBVA Partners Tech Program.
Exoticca, a leading company in the digitization of big-ticket travel, has announced the signing of a €4 million finance agreement with BBVA Spark. This loan agreement will facilitate the company's expansion in Latin America. The financing is supported by the European Union and the European Investment Fund under the InvestEU Fund program.
On Tuesday, BBVA completed its latest share buyback in the amount of €781 million. Including all the buyback programs carried out between November 2021 to date, the bank has repurchased the equivalent of 14 percent of the total, for a total amount of €5.36 billion. BBVA launched these buybacks as part of its commitment to create value for its shareholders.
BBVA is sponsoring the Energy Tech Summit, Europe's largest conference on innovation and investment in climate technologies and cleantech. More than 1,000 attendees from 40 countries including startups, investors, companies and government representatives will participate on April 10 and 11 in this event to be held at the Euskalduna Palace in Bilbao. The forum aims to connect and amplify the impact of new cleantech technologies in the fight against climate change.
A recognized thought leader, scholar and presenter, Noreena Hertz was cited by The Observer as "one of the world's leading young thinkers" and by Vogue as "one of the world's most inspiring women".
BBVA to pay a final dividend of 39 euro cents per share this Wednesday, 26 percent more than in 2023
BBVA shareholders will receive a gross cash dividend of 39 euro cents per share this Wednesday, 26 percent more than in April of last year. This dividend comes on top of the 16 cents per share paid in October as an interim dividend charged to 2023 earnings and the €781 million share buyback initiated on March 4, 2024.
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In the fifth chapter of BBVA Greenfluencers we share with you the experience of the international fund/asset manager Amundi, which began its journey towards sustainability years ago, convinced that ESG criteria would be the future of finance. Meet Yerlan Syzdykov, Global Head of Emerging Markets at Amundi Asset Management, who explains how Amundi assesses the ESG risks and opportunities emerging in Latin America.
Sir George Benjamin (composer, conductor and Henry Purcell Professor of Composition at King's College London) has been awarded the BBVA Foundation Frontiers of Knowledge Award in the category of Music and Opera for "his extraordinary contribution and impact in contemporary creation in the realms of symphonic music, opera and chamber music," according to the committee.
The contingent convertible capital instruments (CoCos) also known as Additional Tier 1 bonds are hybrid bonds that combines debt and equity elements. Its defining characteristic is that it may be converted into shares if the CET1 capital ratio drops below a specific level.
Antoni Ballabriga, Global Head of Sustainability Intelligence & Advocacy at BBVA, analyzes the importance of technological innovation and cleantech investment in an article published in the latest issue of the magazine 'Estrategias de Inversión'.
The BBVA Group paid a record €7,668 million in own taxes in 2023 across all the countries in which it operates, up 53 percent on the previous year. A further €5,950 million was also collected from third parties, making a grand total of €13,618 million in taxes, the highest tax contribution ever recorded by the Group. In Spain alone, BBVA paid a total of €3,384 million, 23 percent more than in 2022, thanks mainly to the increase in own taxes (€1,911 million, +44 percent year-on-year).
BBVA has received the new Single Resolution Board’s MREL regulatory requirement, which establishes the buffer the bank must maintain to absorb losses. Starting today, the bank’s own funds and eligible liabilities must represent 22.79 percent of the total of risk weighted assets of its European resolution group (which includes the holding, BBVA S. A. and its subsidiaries in Europe). BBVA already meets this requirement.
BBVA received the Gallup Award for one of the world’s top workplaces. This marks the third time the financial institution has received this global recognition.
BBVA Global Wealth Advisors, Inc. (BBVA GWA), the U.S. subsidiary and registered investment advisor (RIA) of Madrid-based BBVA, has selected BNY Mellon's Pershing as its clearing and custody provider. BBVA GWA’s advisory clients will access broker-dealer services from Pershing Advisor Solutions (PAS), a wholly-owned subsidiary of BNY Mellon. PAS is an SEC-registered broker-dealer, member of the Financial Industry Regulatory Authority, Inc. (FINRA), and the Securities Investor Protection Corporation (SIPC).