BBVA’s social initiatives benefited 11.5 million people in 2019 (+42%)
BBVA increased its 2019 contribution to the communities it serves, allocating €113.8 million to social initiatives, thus benefiting 11.5 million people around the world, up 42 percent from the previous year. Of this investment, 85 percent is earmarked to the three areas defined as priorities in the Community Investment Plan: financial education; social entrepreneurship; and knowledge, education and culture.
Through its social programs, BBVA creates opportunities for people in its communities. Living up to its stated purpose — to bring the age of opportunity to everyone — it seeks to make a positive impact, especially for those who have it the hardest: the vulnerable. In 2019, BBVA Group designated €113.8 million to social initiatives, representing 9 percent more than its 2018 contribution and 2.4 percent of its 2019 net attributable profit, excluding ex items.
In 2019, the bank continued to press its principle strategies established in the Community Investment Plan, which are as relevant today as ever for the communities within the BBVA footprint. In 2019 it broadened the scope of its area of focus as follows:
- Financial education, as a lever to improve peoples’ financial health, using face-to-face and digital training formats to teach financial skills and good financial habits.
- Social entrepreneurship, by providing support and visibility to the most vulnerable entrepreneurs and those who generate a positive social impact with their business initiatives.
- Knowledge, education and culture, by supporting initiatives that both encourage sustainable development at a community level and make new opportunities possible.
In 2019, BBVA allocated €7.7 million to Financial Education, which represents 7 percent of its global giving, and it trained 1.9 million children, young people, adults, and SMEs. As of today, after 11 years of active participation in this domain, the bank’s investment in financial education adds up to €85 million, positively impacting 15.5 million people.
Together with local programs — created to foster greater financial knowledge and positive changes to decision-making, thus enabling people to improve their financial health — the Center for Financial Education and Capability stands out for its work with over 100 national and international organizations, promoting the importance of financial education by supporting research and creating multidisciplinary spaces for knowledge and debate.
Entrepreneurship, another key line of work, received €9.8 million in 2019, directly impacting 2.2 million people through programs such as BBVA Momentum, BBVA Open Talent, and the work of the BBVA Microfinance Foundation, which has become one of the most important philanthropic organizations in Latin America in its 12 years of existence. With two million customers, it is the leading microfinance group in the sector, and, according to the OECD, BBVA’s Microfinance Foundation is second only to the Gates Foundation in terms of providing funding for development.
In the area of knowledge, education and culture, BBVA invested €77.6 million in 2019, reaching 7.2 million people. BBVA contributes to the dissemination of knowledge through BBVA Research, the BBVA Foundation, and BBVA OpenMind. Their publications, research, knowledge spaces, awards, and collaborative projects have benefited 3.1 million people.
Education programs addressed to society, carry notable weight in BBVA’s social investment (32 percent). Its hallmark initiative is the educational project “Aprendemos Juntos” which has more than 2.5 million followers on social media and over 700 million views.
BBVA also develops, at both the corporate and local level, other initiatives that support social organizations and volunteering in order to address different social and environmental challenges.
Along with the local bank activities, it is worth stressing work undertaken by the Foundations, which play a fundamental role in developing the communities where BBVA Group is present. Foremost among these, the BBVA Foundation dedicates its efforts at fostering knowledge, culture, promoting awareness of science and art, in addition to recognizing exceptional talent and innovation.
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