For the sixth year in a row, the European Commission and the European Union Agency for Network and Information Security (ENISA) are calling October “European Cybersecurity Month” in order to promote cybersecurity across the EU. The goal is to raise awareness of cybersecurity, identify and change unsafe behavior and provide users resources to learn how to protect themselves online.
The issue is no longer about using data, but doing it in a responsible manner that also has a positive impact on users’ lives. This was one of the most relevant topics discussed during the second day of BBVA Open Summit, where Derek White, Global Head of Client Solutions at BBVA, stressed that user confidence is the key to success in this new digital playing field.
18 Oct 2018
The partnership paves the way for the development of a startup studio in London, reinforcing BBVA’s strategy to be part of the fintech ecosystem and develop products and services for the new era of digital banking.
With the slogan “Stop. Think. Connect. Cybersecurity is a shared responsibility”, more than 400 activities will take place during ‘European Cybersecurity Month’ across Europe. Activities like conferences, workshops, training sessions, presentations, webinars, Internet campaigns and much more are all designed to protect users from Internet scammers.
17 Oct 2018
BBVA Group Executive Chairman Francisco González told a packed audience of entrepreneurs in Madrid this morning that “data will define the future of the world”. Addressing hundreds of people at the BBVA Open Summit, the Chairman also explained that for BBVA, one primary belief is that data belongs to the customer.
In an online world, scammers are using new tricks and forms of deception to get what they want from their victims. Although the tools may have changed, today’s scams are not much different from the old-school “pigeon drop” scam in which a victim is persuaded to give the scammer money with the promise of receiving a much larger sum. In this new scenario, cybersecurity training is essential to protect the private data of both individuals and professionals.
16 Oct 2018
15 Oct 2018
Technology is now disrupting every sector from retail to recruitment, and financial services are no different. What is different is how the incumbent players in the sector choose to respond. Do they collaborate, challenge, or do nothing?
11 Oct 2018
BBVA executive chairman Francisco González attended this year’s meeting of the International Monetary Fund (IMF) and World Bank in Bali (Indonesia). He commented that resulting from today’s digital revolution, “ultimately there will be more wealth and prosperity for the whole world, and I hope less inequality; less difference between the have and have-nots.” Francisco González’s remarks come from what will be one of his last international meetings ahead of handing over the baton to Carlos Torres Vila, after December 31.
10 Oct 2018
After obtaining all required authorizations, BBVA closed the transaction that will transfer its real estate business in Spain to Cerberus Capital Management, L.P. The deal was announced in November 2017. The closing of the transaction results in the sale of 80 percent of Divarian’s share capital to Cerberus, the company created to transfer the real estate portfolio. BBVA is to retain the remaining 20 percent stake.
09 Oct 2018
The CEO and future chairman of BBVA, Carlos Torres Vila, stressed this morning that “privacy should never be the price to pay for a service.” At the IX Financial Meeting organized by KPMG and Spain’s daily business journal Expansión he explained that new European regulations for the protection and use of data (GDPR and PSD2) are a step in the right direction, although he called for a level playing field between banks and other sectors.
08 Oct 2018
More than 7,000 BBVA employees worldwide took part in some 325 acts of solidarity as part of the Global Volunteers’ Week celebrated in over 15 countries.
Open innovation took center stage at South Summit 2018, where BBVA presented various tools, initiatives, and projects. With its participation in the event, the bank sought exposure to talent and ideas outside its normal ecosystem.
05 Oct 2018
BBVA has given Sheetgo the award as the startup with the most scalable business during the closing of Spain’s biggest startup conference in Madrid.
Self-management, wholeness and evolution are the basic pillars on which this management model rests.
04 Oct 2018
The paradigm shift that will shape the future of banking was the subject of a keynote address by BBVA’s Derek White in Madrid this week. “BBVA is taking on Big Tech and building the future of banking”, he said.
03 Oct 2018
BBVA’s executive chairman, Francisco González, believes that the success of a company’s transformation is directly related to employee talent. “To have excellent people is a must” he said at the South Summit, an event held in Madrid this Wednesday. “If you don’t have the best people, it’s impossible to advance.”
BBVA’s CEO, Carlos Torres Vila, has spoken of the great impact entrepreneurs bring to society at the opening of Spain’s biggest startup conference.
02 Oct 2018
Switzerland is the global center of private banking and a country many investors go to in search of diversification. But private banking is much more than that. It involves constant striving to understand the complexity of the financial markets in order to offer customers the best advice possible.
This open-source blockchain platform has made its way into different sectors of the economy and aims to become the blockchain technology standard in the world of business. BBVA is an official member of the Hyperledger consortium and has used its technological platform to manage blockchain-powered corporate loans.
28 Sep 2018
27 Sep 2018
On December 31, 2018, Francisco González will step down as BBVA Group Executive Chairman, after 18 years at the helm of the bank and almost four more as Chairman of Argentaria. Following the Board’s announcement regarding the approval of the chairman’s succession plan, we sit down with him for an hour to talk about the meaning of his decision.
26 Sep 2018
The Board of Directors of BBVA approved the succession plan for the company’s chairman. The plan establishes that CEO Carlos Torres Vila is to replace Francisco González as group executive chairman when he leaves his post, which is expected to take place on Dec. 31st, 2018. The succession ensures the continuity of the transformation process which has placed BBVA at the forefront of the global financial industry.
BBVA backed digital banking platform Simple is shaking up the U.S. savings market by introducing a sector leading rate for consumers.
24 Sep 2018
BBVA has launched a new service for startups looking to work with the bank, which matches up expertise with needs across the business.
21 Sep 2018
For the first time in Spain, BBVA will allow products contracted by customers with other banking institutions to be added to its mobile banking app. The information will be included in Bconomy, the tool that examines the income and spending of users to provide an analysis of their financial health and a more complete view of the state of their finances.
19 Sep 2018
Amazon & Google jointly hold over two thirds of the global smart speaker market, but problems ‘made in China’ are on the horizon.
18 Sep 2018
BBVA has issued a €1 billion contingent convertible bond, or CoCo, (Additional Tier 1 or AT1) with a coupon of 5.875 percent, equaling its lowest-ever rate for this type of issue. High demand has allowed it to reduce the coupon by 50 basis points, from the initial 6.375 percent. This is a perpetual instrument (without a specific maturity date) over which the issuer reserves a call option in the fifth year.
The tools known as cryptowallets allow the storage and exchange of cryptocurrencies, and are becoming increasingly relevant in the context of the cryptoeconomy and blockchain boom. It is important to recognize their characteristics and differences, as not all offer the same levels of security.
17 Sep 2018
Francisco González, the executive chairman of the BBVA Group, is a member of the International Advisory Panel of the Monetary Authority of Singapore (MAS) and is a frequent visitor to the country. This weekend, he took part in the Singapore Summit, an event aimed at “connecting Asia with the rest of the world.” While there, Francisco González granted an interview to the Spanish daily ABC, in which he speaks about the “extraordinary moment” the bank is going through, having chosen to embark on a digital endeavor, the results of which have been striking. These results include an increase in digital sales, which accounted for 42 percent of total sales in July. “The first fruits of digitization have been really superb,” he says.
16 Sep 2018
Francisco González weighs in on the challenges of the financial sector to compete with big tech firms in an article published on the ‘Singapore Summit’ website. BBVA Group Executive Chairman participated this weekend in the event – which analyzes Asia’s role as the driver of world growth – and in the annual meeting of the International Advisory Panel (IAP) of the Monetary Authority of Singapore (MAS).
14 Sep 2018
13 Sep 2018
BBVA is listed in this year’s edition of the Dow Jones Sustainability Index (DJSI), the market’s benchmark index, which tracks the stock performance of about 3,400 listed companies in terms of environmental, social and corporate governance matters.
Interactive fairy tales, being in outer space or a radical remake of the classic game Tetris. These are some of the dream plays to take your first steps in this new audiovisual language.
12 Sep 2018
These decentralized applications use blockchain so that users can interact directly among themselves and close deals without the involvement of a central management service.
10 Sep 2018
BBVA’s executive chairman Francisco González took part in a presentation in Madrid of Dr. Peter Weill’s new book, ‘What’s Your Digital Business Model?’ Professor Weill is chair and senior research scientist for the Center for Information Systems Research (CISR) at Massachusetts Institute of Technology (MIT).
06 Sep 2018
What is BBVA’s strategy for transforming the bank into a truly digital company?
In this series of of interviews, BBVA talks with some of those at the cutting edge of designing the future of financial services. The series is about getting under the skin of where, how and why technology will be the biggest game-changer when it comes to how people and businesses bank in the future.
04 Sep 2018
Marga Barrera, Global Head of Design and UX (User Experience) at BBVA, speaks with Spain’s leading business newspaper, “Expansión” about her role and the effort her team is making to transform the bank into a digital business that delivers value-added products to its customers every quarter. “Design is a profession on the rise, that will have a lot of influence in the coming years.” states Barrera who emphasizes that in the current climate where companies are competing for talent with big firms like Microsoft, a commitment to design is essential.
03 Sep 2018
More than six months have passed since the initial deadline for compliance with the EU’s PSD2, designed to increase openness, convenience, and competition in consumer banking. There has been criticism that the foretold open banking revolution has been slow to get off the ground. But is that fair? What has been achieved so far, is open banking on course, and what does the future hold?
29 Aug 2018
Moody’s has affirmed BBVA’s A3 rating, maintaining a stable outlook on the Group’s financial debt. The ratings agency said the rating affirmation reflects the resilience of BBVA’s credit profile to the deterioration of the operating environment in Turkey.
28 Aug 2018
17 Aug 2018
It’s time for suitcases, airplanes, highways … and it’s the high season for tourism and travelling, an activity that has a huge economic impact around the world. In gross terms, this industry is most important to the United States, whereas in Spain it represents almost 15 percent of the GDP, with Catalonia and Spain’s islands being the preferred destinations.
16 Aug 2018
A traditional debate that ensues when banks are expanding internationally revolves around whether it is preferable to run branch offices or set up subsidiaries. Subsidiaries are associated with decentralized models where banks adapt to the local environment, both from a business and regulatory point of view. The model that uses branches characterizes banks with a more centralized structure, where decisions are made by the parent company.
13 Aug 2018
Garanti Bank, official sponsor of Turkish basketball for more than 17 years, has launched an advertising campaign to support the Turkish national basketball teams, facing the wheelchair basketball world championships that will take place in Hamburg (Germany) from August 16 to 26.
10 Aug 2018
BBVA has requested arbitration procedures through the complementary mechanism of the ICSID – the International Center for Settlement of Investment Disputes – within the framework of the Reciprocal Investment Promotion and Protection Agreements between Spain and Bolivia with respect to the transfer of BBVA Previsión AFP (Pension Fund Administrator) to the Government of Bolivia.
Advertising will experience stable growth in the next five years, developing toward a more digital and mobile business, touched by fewer hands.
07 Aug 2018
World Finance Magazine and European CEO Magazine pay tribute to the BBVA unit’s achievements in customer experience and digital transformation. Garanti has been named as “the Best Retail Bank in Turkey” by World Finance Magazine and as “the Best Retail Bank in Europe” by European CEO Magazine in recognition of the quality of customer experience it delivers, the digital transformation of its branches and innovative projects and solutions such as its instant e-commerce loan.
01 Aug 2018
31 Jul 2018
30 Jul 2018
BBVA is to link its power supply needs to the construction of a new wind farm. The new facility, which will be developed, built and run by Enel Green Power Spain, is part of BBVA’s 2025 Pledge and will add renewable energy capacity in Spain, helping to reduce CO2 emissions.
27 Jul 2018
Türkiye Garanti Bankası A.Ş. announced its financial statements for the first half to June 30, 2018. On a consolidated financial basis, in the first six months of 2018, Garanti had assets of TL384.878 billion, while its contribution to the economy through cash and non-cash loans increased to TL319.244 billion. The Bank’s ROAE (Return on Average Equity) was 18.1 percent and ROAA (Return on Average Assets) 2.1 percent.
BBVA reported net attributable profit of €2.65 billion for the first six months of 2018, up 14.9 percent from the same period a year earlier (+29.5 percent in constant terms). Upbeat revenue trends, containment in operating expenses, and lower loan-loss impairments and provisions were the key drivers of growth.
Following the release of BBVA’s Q2-18 earnings, BBVA CEO Carlos Torres Vila said today that the quarter’s net attributable profit stood at €1.31 billion, bringing the total for the first six months of the year to €2.65 billion, up 15 percent from the same period a year earlier. “We were off to a very good start of 2018 last quarter, and this quarter we’ve managed to achieve some excellent results, despite the uncertainty surrounding some of the markets in which we operate,” he said.
- Transformation: At the end of June, BBVA’s digital customer base stood at 25.1 million (+26 percent yoy). Of these, 20.7 million were mobile customers (+43 percent yoy). Digital sales increased in H1-18 and now account for 39 percent of total sales. All this contributed to strengthen recurring banking revenues and to keep efficiency at 49.2 percent
- Income: Solid trends in recurring revenues and cost containment efforts drove operating income growth in the first six months of 2018 (+6.8 percent in constant terms). Profitability has also improved significantly. ROE stood at 11.7 percent, while ROTE was 14.3 percent
- Risks: Risk indicators continued to perform robustly. At the end of June, the NPL ratio stood at 4.4 percent, with coverage of 71 percent
- Capital: A pro-forma fully-loaded CET ratio of 11.40 percent was reached in June. It includes the sale of BBVA Chile (finalized in July) and the Cerberus agreement to reduce its exposure to the real estate business. The tangible book value per share grew in the quarter
26 Jul 2018
BBVA has announced it is part of the consortium of corporate businesses and banks taking part in a new initiative by SWIFT aimed at speeding up cross border transactions.
24 Jul 2018
New VR headsets like Oculus Go and HTV Pro are becoming more accesible and dropping barries to entry for a wider range of audience.
20 Jul 2018
19 Jul 2018
Last year’s Open Talent global Financial Inclusion award winner, ePesos is connecting more of Mexico’s unbanked population with the financial services they need. BBVA speaks to Alex Martin, Director of Strategic Partnerships, to find out more about how ePesos has continued to contribute to the evolution and transformation of the economy in Mexico.
18 Jul 2018
BBVA, today brings its customers Apple Pay, which is transforming mobile payments with an easy, secure and private way to pay that’s fast and convenient.
The financing of startups through ICOs using blockchain technology changes the concept of a unicorn. Is it the same to reach a valuation level of $1 billion in this way as through traditional rounds of investment?
The digital world has its own rules and dangers. Parents can’t expect children to learn for themselves, even if they are digital natives.
Big data and artificial intelligence (AI) are among the most discussed subjects of our age. Terms such as machine learning and deep learning are gradually becoming part of our daily lives. Increasingly, a wide array of economic sectors, including banking, is taking advantage of the potential offered by these exponential technologies to improve customer experience and offer a more relevant catalogue of products and services.
17 Jul 2018
The banking industry is taking another step towards laying the groundwork to tackle the climate change threat with a new set of tools. The groundbreaking methodologies published today, aimed at helping the banking sector understand and manage the adverse effects and the opportunities of climate change in their loan portfolio. The methodologies are the result of a joint effort by sixteen leading global banking institutions – including BBVA – and Acclimatise, a UK-based climate change advisory.
16 Jul 2018
Fund managers are easing their way into the digital world but will have to up the ante as customer experience and customized offers become a must for their survival.
13 Jul 2018
BBVA Momentum 2018, BBVA’s social entrepreneurship supporting program has concluded the final list with the names of the 76 social companies invited to take part in this year’s edition.
Summer is synonymous with more time for reading. Here we provide 10 nonfiction titles that that will give you a broader view of a world in change.
12 Jul 2018
Garanti Bank has been recognized as the “Best Bank in the Central and Eastern European Region” in this year’s edition of the Awards for Excellence organized by Euromoney, one of the world’s leading finance magazines.
Every year BBVA’s Open Talent competition sees an increasingly diverse range of entrants from all over the world, each of who is hoping to make business more effective through technology and the way it interacts with financial services.
BBVA Colombia has been recognized as the best bank in the country by Euromoney magazine, thanks to the progress made in the digital transformation process that the institution launched a few years ago. Other reasons cited by the publication that merited the award include the expansion of the institution’s digital customer base, its financial results and its solid market position.
BBVA has been recognized in five different categories at the year’s ‘Euromoney Awards for Excellence’. The bank received honors in regional categories like “Latin America’s best transactional bank”, and country categories such as “Mexico’s best bank”, “Mexico’s best investment bank”, and “Colombia’s best bank”. BBVA’s Turkish franchise Garanti was also recognized as “Best bank for sustainable finance.”
11 Jul 2018
BBVA has announced the finalists of Open Talent, the world’s biggest fintech competition. This year marks the tenth anniversary of the competition, which has welcomed over 6,000 entries from start-ups in more than 80 countries since it launched.
The world of business is constantly coining new terms to name and categorize emerging concepts, ideas, technologies and activities that existing words struggle to convey. In this article we’ve assembled a list of relevant neologisms that will help you keep up with what’s happening in the field of digital innovation.
10 Jul 2018
Some have been lucky enough to receive a share of their thriving family businesses; others have amassed fortunes on their own merits before they turned 30, fortunes worth more than $1.3 billion.
BBVA keeps making headway in its transformation to become a fully digital organization. Madrid hosted a new quarterly global planning meeting where the company confirmed its commitment to materialize over 160 projects.
09 Jul 2018
The future of the financial sector lies in its seamless integration into all sorts of devices. Biometrics, APIs and chatbots… there is mounting evidence that we might be in the early stages of the new era of everywhere banking.
On February 28, BBVA unveiled its climate change and sustainable development strategy ‘Pledge 2025’. A cornerstone of this pledge is the sector norms which enable the bank to address specific matters of sustainability with particular environmental and social impact (mining, energy, infrastructure and agribusiness) and provide clear guidance on the procedures to follow in the management of clients and transactions in these sectors. These rules embody the Commitment to Human Rights that BBVA took on board in 2008 and which has recently been updated.
06 Jul 2018
After obtaining the pertinent regulatory authorizations, BBVA Group has closed the sale of its 68.19% stake in BBVA Chile and other companies in the country to Scotiabank, for a total of about $2.2 billion. The transaction will yield capital gains of about €640 million and will have a positive impact on BBVA’s fully-loaded CET 1 capital ratio of about 50 basis points.
BBVA has celebrated its first ‘Values Day.’ A day to embrace and live the values of the Group: Customer comes first; We think big; We are one team. BBVA Executive chairman Francisco González and CEO Carlos Torres Vila reaffirmed these values as “the heart of a long process of transformation that the bank is spearheading at a global level.”
Technology changes our lives day by day, offering us capabilities that were unimaginable just yesterday, but also complex challenges and potentially frightening conflicts. In other words: the perfect raw material for the best TV comedy and drama, which has found fertile ground in anti-establishment hackers, genius programmers, start-ups in distress, indolent IT guys or dystopian visions that seem a little too much like the world we live in.
05 Jul 2018
Azlo is empowering a new generation of founders and entrepreneurs with the digital tools to access key financial networks and accelerate their economic opportunity. BBVA has incubated Azlo to help them achieve this mission and to better serve ‘gig-economy’ workers, that are currently underserved by the financial services sector.
04 Jul 2018
Garanti Bank’s modernization drive has now put the fruits of the burgeoning digital world at the fingertips of customers at 500 of its branches just a year after its revolutionary service model was introduced. The transformation effort of its entire branch network, which is on track for completion by year’s end, aims to allow one-stop, fast and easy access to a wide array of services.
Thanks to machine learning, chatbots are already becoming much more than a mere “always-on” tool used for interacting with the bank.
03 Jul 2018
Artificial Intelligence’s greatest advances have yet to come, but the combination of big data with machine learning algorithms has already yielded benefits to the financial world daily operations.
Last month, Revolut became one of only five fintechs in Europe to achieve unicorn status, following a $250 million Series C funding round.
28 Jun 2018
BBVA’s Group Executive Chairman was in Barcelona to participate in the forum, ‘Education in the Digital Age’, organized by OpenMind and the Spanish daily newspaper La Vanguardia. During his participation, Francisco González stressed the importance of education and underscored the need for new policies and standards to foster the fulfillment of the significant opportunities of the digital age.
27 Jun 2018
BBVA’s Board of Directors held this wednesday its monthly meeting in Barcelona. The previous day was taken up by a series of working meetings on the bank’s digital transformation. The Board also went over developments in its franchise in Catalonia and agreed to modify the composition of its committees.
A fundamental characteristic of today’s market is the extreme competitiveness with which commercial operations are developed. Business intelligence is key to getting ahead, but until recently in-depth BI development was difficult for small- and medium-sized businesses to adopt. Today, this has changed thanks to data and APIs like PayStats, which can be found in BBVA’s API_Market.
26 Jun 2018
Using a smart contract will always make sense when there is a defined workflow that needs to be managed according to certain rules or to ensure the fulfillment of certain previously agreed conditions.
BBVA is committed to providing the best solutions for its customers, profitable and sustained growth for its shareholders, and to collaborating in the progress of communities where it operates. The aim is to make reality the Group’s vision, which can be summed up with the idea of working for a better future for people.
25 Jun 2018
BBVA’s Global Head of Customer and Client Solutions, Derek White, has been interviewed by leading Spanish newspaper Expansión.
The Spanish National Securities Market Commission (CNMV), BME and a group of financial institutions formed by Banco Santander, BBVA, BNP Paribas, CaixaBank, Commerzbank and Société Générale, have been collaborating over the past year on a project called Fast Track Listing (FTL), which is based on blockchain technology.
22 Jun 2018
21 Jun 2018
20 Jun 2018
The two companies have just used the blockchain technology to renew a credit line worth €325 million, the first initiative of this collaboration.
“Hi, how can I help?” They are only five simple words, but there was nothing simple about what followed when Google presented Google Duplex at its recent I/O conference recently. Google Duplex is an ‘intelligent’ AI-led voice assistant tool that is capable of executing simple voice calls, such as making restaurant reservations or hairdresser’s appointments. It sounded so realistic and human that the person on the other end of the line in each demo was seemingly unaware that they were speaking to a machine.
19 Jun 2018
18 Jun 2018
BBVA Group Executive Chairman Francisco González and José Pedro Pérez-Llorca, the President of the Board of Trustees of the Museo del Prado, today inaugurated the first major exhibition dedicated solely to the portraits of Lorenzo Lotto. Jointly organized with the National Gallery of London, the show is exclusively sponsored by the BBVA Foundation.
BBVA CEO Carlos Torres Vila opened the seminar in Santander organized by the International Menéndez Pelayo University and the Spanish Association of Economic News Journalists (APIE), which this year puts the spotlight on blockchain. BBVA’s CEO lauded digital transformation as a way to improve people’s lives. Additionally, he released the news that in May, BBVA’s digital sales reached 40% of the total, and that the Group will begin testing the negotiation and contracting of syndicated loans using blockchain. Finally, he stated that technological development fosters long-term economic progress and social well-being, which requires collaboration between public and private institutions.
BBVA has agreed to sell a property development loan portfolio worth €1 billion (gross) in a deal that virtually puts the finishing touches to its strategy of reducing its real-estate risk in Spain in half the time initially expected. BBVA estimates that including all the operations announced since December 2016 it has cut its gross exposure to the sector by €20 billion.
BBVA Group unit Garanti Bank in conjunction with the World Bank’s International Finance Corporation (IFC) has issued a six-year social bond worth $75 million dollars to help finance women entrepreneurs in Turkey.
15 Jun 2018
BBVA’s digital customers have once again set new records in their adoption of the groups digital channels and offerings, the bank is reporting.
14 Jun 2018
13 Jun 2018
“We have a powerful science, but when it comes to individual and, especially, public decision making processes, we fail to harness that power, because its validity is denied or put on an equal footing with baseless opinions.” With these words Francisco González summed up the spirit that presided over the BBVA Foundation’s Frontiers of Knowledge Awards ceremony.
Amid the apparent decline of physical shops, new technologies are offering new opportunities to future consumers who will continue to visit stores, but with the help of artificial intelligence on their smartphones.
12 Jun 2018
BBVA’s mobile banking app has been named a leader in Europe. According to the report published today by Forrester Research, ‘The Forrester Banking Wave: European Mobile Apps – Q2 2018’ BBVA has the top-ranked app with an overall score of 87/100. Forrester assessed 12 mobile banking apps from top financial institutions on the continent. Garanti, BBVA’s Turkish franchise, took the second spot in the same evaluation. BBVA also took the top spot in last year’s analysis also published by Forrester.
They were born with the dawn of this century, and many of them are the children of the first millennials. Generation Z is now beginning to impact payments, imposing their specific preferences.
11 Jun 2018
Can Big Tech take the place of banks in the financial services sector? According to Francisco González in his op-ed article in today’s edition of Financial Times, while the Big Tech’s threat is widely known, digitization opportunities for some banking institutions are less evident. BBVA Group Executive Chairman is confident that “we have what it takes to redesign banking and to bring about the next stage of this industry’s evolution.”
08 Jun 2018
Jaime Sáenz de Tejada is Spain’s best CFO and the best in Europe’s banking industry, according to the Extel Survey. Group BBVA has achieved excellent results in different categories in the 2018 edition of this prestigious international survey.
Digitalization is revolutionizing financial services, with the PSD2 directive speeding up the transformation. What role will traditional banks, fintech, and tech giants play in this new environment?
07 Jun 2018
BBVA has launched a pioneering training model that facilitates the exchange of knowledge between professionals thanks to a token-based initiative.
06 Jun 2018
05 Jun 2018
A major tragedy was the unlikely source of an important friendship. Rick Falcón, BBVA Compass employee never thought he’d end up in Florida.
04 Jun 2018
01 Jun 2018
This year’s edition of the European event will bring together some of the most brilliant minds of today’s tech scene: from legends like Apple co-founder Steve Wozniak to the founders of some of the most successful fintech solutions, like Alipay. BBVA will also play a prominent role in the event, where it will share its view on the financial services of the future and its collaboration with the fintech ecosystem.
After receiving all necessary approvals, BBVA has completed the £85.4m investment into Atom, announced in March this year. With this transaction, BBVA increases its stake in UK’s first bank built exclusively for smartphone or tablet to 39%.
31 May 2018
To celebrate the 50th anniversary of the International Capital Market Association (ICMA), BBVA took part in a conference on capital markets. What will they be like in the future? According to José Manuel González-Páramo, they will be “digital and sustainable”. Digital on the strength of innovation by technologies such as blockchain, automated advice and trading algorithms; and sustainable because they will help attract “green” finance.
29 May 2018
BBVA is one of 26 international banks that will work jointly on the development of Banking Principles that will align the banking industry’s business model to the UN’s Sustainable Development Goals and the Paris Agreement on Climate Change. The United Nations is driving the initiative. BBVA’s Group Executive Chairman stressed that “these banking principles will define the standards and accountability model for the future of banking.”
The BBVA Open Talent team has recognised a number of fintech businesses with a financial inclusion mission. Their business models, and the resulting impact on society, make Open Talent alumni businesses such as Destacame, ePesos, and Musoni ones to watch.
25 May 2018
At BBVA we always say that, the more you know, the better you can make decisions. Personal data offer us very valuable opportunities to provide better services for our customers and come up with new ways to put our customers at the center of our business. That is why protecting this data is a critical matter that concerns us all, as customers, and, especially, as employees of a digital company like ours. In order to better protect people, starting on the 25 th of May 2018, the new European Data Protection Regulation will go into effect.
24 May 2018
This is the 10th edition of the Open Talent competition. Since it launched, 6000 fintech startups have been through the doors of BBVA, facilitating collaboration with the BBVA team and wider ecosystem. But what makes a winning entry that stands out from the crowd? And how can you craft a ‘pitch’ that resonates?
23 May 2018
BBVA considers that it is currently in compliance with the MREL requirement, which today was notified by the Bank of Spain. BBVA also considers the possibility of refinancing the future maturities of senior debt and covered bonds (€6.5 billion through 2020) issuing MREL eligible liabilities. This issuance volume is very manageable.
BBVA Group Executive Chairman Francisco González thinks it is necessary to establish “a new global regulation,” one that could benefit society as a whole with all the opportunities the digital era has to offer. “We are living an unprecedented revolution, that could bring a never-before-seen level of well-being if we manage to make progress in a new legal architecture,” he pointed out during a meeting at the Institute of International Finance (IIF) in Brussels.
Technology serves to create opportunities and also solve problems in the public sector. However, because of its many peculiarities, the pace of innovation is different, and its implications are more profound.
22 May 2018
In light of the digital revolution and the arrival of fintechs, financial entities need new employee profiles with mathematics and engineering. These professionals are in short supply, and so the commitment to training, both internally and in collaboration with universities, is increasingly important.
21 May 2018
BBVA’s Group Executive Chairman is convinced that, to tackle the enormous environmental, social and technological challenges that climate change poses, the social role of banks needs to completely change. “We need to reimagine the role of banking,” said Francisco González a few days ago, during the BBVA Sustainable Finance Forum event.
17 May 2018
- BBVA’s mobile platform marks the start of a new transformation stage for the Group, with a solution that unifies design, functionality and user experience
- BBVA Bancomer becomes the first BBVA franchise to adopt this new development in its mobile banking solution, which will be rolled out progressively across the Group’s footprint
- BBVA already has over 24 million digital customers, of whom 19.3 million use mobile devices.
- BBVA Bancomer’s digital sales have grown from 7 percent at the end of 2015, to 31 percent in the first quarter of 2018, and are expected to hit 41 percent by the end of the year
16 May 2018
Along with the promise it bears, artificial intelligence also brings with it a number of risks that need to be kept in mind and addressed. What measures are data scientists taking to avoid information fed to machines from being incomplete or biased?
Mexican president Enrique Peña Nieto has honored Francisco González with the Mexican Order of the Aztec Eagle in recognition of his professional career. At the awards ceremony, BBVA Group Executive Chairman extended his gratitude and expressed confidence in the future of the country. “Mexico is destined to play a leading role in the community of nations. It has everything: resources, keen, hard-working people and its geographical location.”
15 May 2018
BBVA CEO Carlos Torres Vila said this morning in Mexico that “digitization is having a huge impact on customer satisfaction,” resulting in higher levels of engagement. “Digitization is helping customers interact more with us, and they are more satisfied and loyal. This new way of interacting is a powerful lever that is transforming our value proposal, allowing us to help our clients with their lives and businesses in a deeper way,” he added.
14 May 2018
The very concept of venture capital makes clear the possibility of losing everything invested in projects that don’t go ahead. However, there are investors with an almost flawless track record. Who are they?
London, Paris and Berlin have long been at the forefront of European efforts to create a startup community that can compete on a level with Silicon Valley. In terms of headcount, at least, they are nearly there. Recent data suggests that there are more than 515,000 software engineers spread between the three cities, not far off the Bay Area’s 564,000.
11 May 2018
BBVA participated in the Red Hat Summit, the annual event held by the open-source software company in San Francisco, where the Group was awarded for being a model of digital transformation using cloud technologies. During one of the event sessions, the company’s CEO, Jim Whitehurst, talked with José María Ruesta, BBVA’s Global Head of Infrastructure, Service and Open Systems.
10 May 2018
BBVA’s independent venture capital business, Propel Venture Partners, has announced a new investment into UK online mortgage brokerage Trussle.
Digital banking offers both customers and clients alike massive potential. The accessibility, control and extra insights being a digital banking user can deliver are huge, and for BBVA it’s a model it can use to help people make better, more informed decisions.
09 May 2018
BBVA opened its headquarters in Madrid to welcome investors, business leaders, public and private institutions and the media, to an event aimed at promoting sustainable development and the fight against climate change. During the first edition of the ‘BBVA Sustainable Finance Forum,’ Group Executive Chairman Francisco González explained the reason for the meeting: “Banks need to help customers drive sustainable development and transition towards a low-carbon economy. At BBVA, we want to be the catalysts of this change.” Francisco González opened the event alongside Soraya Sáenz de Santamaría, Vice-President of the Government of Spain.
08 May 2018
This Wednesday BBVA will hold the BBVA Sustainable Finance Forum, bringing together investors, businesspeople, institutional representatives, and sustainable finance experts with the aim to boost the finance industry’s role in sustainable development and the fight against climate change. Taking place at BBVA’s headquarters in Madrid, the forum will be inaugurated by the Francisco González, Group Executive Chairman of BBVA, and Spain’s Vice President, Soraya Sáenz de Santamaría.
BBVA has today launched an innovative new global payments system that includes cards, alternative payment forms and a fraud-prevention tool.
The ECB has published a guide in which it explains the unique fintech characteristics it considers when granting licenses.
03 May 2018
BBVA today tapped the markets, issuing the largest ever green bond (€1 billion) by a eurozone financial institution. The 7-year non-preferred senior green bond makes BBVA the first Spanish bank to issue such debt instrument. High demand -three times higher than the bond’s value– allowed it to lower the price to mid-swap plus 80 basis points.
The consultancy Accenture analyzes the inroads made by big tech in the financial sector and identifies five key steps banks need to take to create value in the face of advances made by fintech companies. BBVA’s focus on open banking and transformation in the digital era has been acknowledged by a number of institutions.
Human rights are an essential element of BBVA’s purpose: “to bring the age of opportunity to everyone.” Its Commitment to human rights, approved in 2018, sets the foundations for further progress in that direction, involving all the people who work in BBVA’s ecosystem.
30 Apr 2018
Born in Chantada (Lugo), Spain, in 1944.
Graduated in Economic and Business Sciences from Universidad Complutense de Madrid.
The spread of artificial intelligence will have positive and negative effects. In order for the former to outweigh the latter, companies, politicians and social groups should gave some thought to this and act accordingly.
27 Apr 2018
BBVA posted a net attributable profit of €1.34 billion between January and March 2018, up 11.8 percent compared to the same period of 2017 (+22.3 percent in constant terms) and the highest quarterly result in the past three years. During Q1-18, BBVA Group’s net attributable profit grew across all regions year-on-year. A solid performance of recurring revenues, moderation in operating expenses and the drop in impairment losses on financial assets and provisions were the main drivers supporting this growth.
BBVA CEO Carlos Torres Vila explained today, following the release of the BBVA’s first quarter financials for 2018, that the net attributable profit increased 12 percent, to €1.34 billion. “We had a very solid start of the year, this has been our highest quarterly result in three years,” he said.
- Transformation: Digital sales grew in all regions and accounted for 37 percent of total in Q1-18. Clients banking through digital channels rose 25 percent yoy, while those using mobile devices grew 43 percent. Such exponential growth contributed to the strength of recurring revenues, and the efficiency ratio reached its best reading since June 2012
- Income: Driven by strong recurring revenues and cost containment efforts, the operating income grew 5.1 percent yoy in constant terms
- Risks: Risk indicators continued to perform positively. At the end of March, the NPL ratio stood at 4.4 percent, with coverage of 73 percent
- Capital: BBVA’s pro forma fully-loaded CET1 ratio -including the already announced agreements of BBVA Chile and Cerberus, which are to be concluded later this year- stood at 11.47 percent at the end of March
26 Apr 2018
Türkiye Garanti Bankası A.Ş., announced its financial statements dated March 31, 2018. Based on the consolidated financials, in the 3 months period of 2018, Garanti’s asset size reached TL 359 billion 882 million, its contribution to the economy through loans and non-cash lending reached to TL 298 billion 250 million 713 thousand. The Bank delivered an ROAE (Return on Average Equity) of 18.3% and ROAA (Return on Average Assets) of 2.2%.
Sixteen international banks convened by the United Nations jointly published a first version of the methodology to provide banking greater transparency and advance a better understanding of the management of risks and opportunities related to climate change. BBVA is one of the institutions participating in the project.
According to BBVA Research’s Latin America Economic Outlook report for the second quarter of 2018, the region’s positive trends of recent years are set to continue, with GDP growth forecasted at 1.4% for 2018 and 2.5% for 2019. However, BBVA’s study service has downgraded its 2018 growth forecast for the region by three tenths.
BBVA has successfully completed the first global corporate loan transaction using blockchain technology from the negotiation of the deal to its signing, in line with their close collaboration to leverage cutting-edge technologies to streamline business processes.
DLT and blockchain share a conceptual origin: they are digitalized and decentralized log books of record. Often the terms are confused, but they are differentiated by an unshared set of specific features.
24 Apr 2018
As a child, Niria Garcia dreamed of being a firefighter. When she was old enough to try, she was told she couldn’t. But she pursued her dream anyway. Today, she remembers those who did not believe in her with a smile.
Carlos Kuchkovsky, CTO of New Digital Businesses at BBVA, has been elected for the second year running as a member of the Governing Board of Hyperledger, one of the major partnerships formed to promote the use of blockchain in different business and technology sectors.
23 Apr 2018
Innovation in communications is becoming increasingly important and necessary. BBVA’s ‘own voice’ project through BBVA.com has been shortlisted by ‘Digiday Media Awards Europe’ as one of the best new websites displaying an impressive performance in terms of editorial approach, quality and growth. These awards seek to pay tribute to companies working to modernize and improving media in Europe.
The European Investment Bank Group and BBVA have signed a synthetic securitization to finance investment projects of Spanish SMEs. The agreement will enable the provision of €600 million.
20 Apr 2018
BBVA has signed a $400-million-dollar green loan with Iberdrola, the first green corporate loan to be formalized in Latin America. This reasserts BBVA’s commitment to sustainable financing by supporting the development and implementation of financial products in the green format.
Financial institutions are preparing to present Q1 2018 earnings. Next week, it will be the turn of most Spanish banks, among them BBVA.
Close to 40% of the world’s population, some two billion people, do not have access to a bank account. The mobile phone is starting to alleviate the problem and blockchain could be another big driver.
19 Apr 2018
BBVA Chairman Francisco González presented ‘The Age of Perplexity. Rethinking the World We Knew,’ the tenth book in the annual collection published by BBVA through its OpenMind project. In this publication, 23 internationally renowned and well-respected intellectuals address the big economic, political, and social questions raised by the technological revolution.
Eduardo Arbizu (born in Pamplona, 6th January 1963) is the General Counsel of BBVA. Degree in law (with distinction), qualified as State Lawyer and AMP from Wharton.