"BBVA will be one of the financial sector’s winners in the next decade”, stated Francisco González, BBVA’s Chairman and CEO, today at a financial conference organized by Goldman Sachs in Berlin. “The new global financial backdrop will bring winners and losers. The best banks will be those who are able to increase profits which, in the end, and now more than ever before, is what counts”.

BBVA and CITIC today announced new steps under the umbrella of their strategic agreement and a reinforced mutual commitment to collaborate. The news was unveiled in a significant event notification filed by the bank today with the CNMV, the Spanish securities watchdog. Under the agreement BBVA can increase its stake in CITIC International Financial Holdings Ltd, (CIFH), a company listed on the Hong Kong stock exchange, to 30%, and to lift its interest, direct and indirect, in Chinese financial entity, China Citic Bank (CNCB), to approximately 10.07%.

The Group once again demonstrates the strength and recurrent nature of its results. Despite worldwide uncertainty and instability, it reported vigorous marketing, high levels of efficiency and profitability, low risk, adequate levels of capital and solid liquidity.

Ignacio Deschamps González will become the new chairman of the BBVA Bancomer board of directors on Sept. 1, 2008, while staying on as Bancomer’s general manager. It will be the first time that both positions are held by the same person at BBVA's biggest franchise in the Americas.

“BBVA will face 2008 with a solid foundation of capital and liquidity, high levels of efficiency and profitability, a healthy balance sheet and low level of risk. BBVA today is probably the strongest bank in our industry's big league," said Francisco González in a speech at the Bank’s Annual General Meeting, held today at the Euskalduna Palace in Bilbao.

BBVA President and Chief Operating Officer stated  during his speech at the Annual General Meeting held today in Bilbao, “that rapid growth in recurrent earnings makes BBVA the best investment alternative” at this time. In fact, BBVA is the only bank in the world to have received two rating agency upgrades in the past year.

The Group will increase the Plan's resources 42%, to €28 million, funding 28,000 grants for Latin American children this year, compared with almost 18,000 in 2007.

The 2008 expedition

Find out the UN Millenium Development Goals