Carlos Torres Vila
29 Apr 2019
Following the release of BBVA’s Q1-19 earnings, the Group’s CEO Onur Genç said today that, “the P&L shows positive dynamics, with operating income growing over 10 percent driven by recurring revenues and significant improvement in efficiency.”
• Transformation: BBVA continued to make progress in its transformation, with a clear impact on growth of its customer base, productivity, efficiency and customer experience. Digital unit sales now account for 57 percent of the total and over half of the customers use digital channels to interact with the bank
• Efficiency: Positive top-line trends in the P&L account, together with an ongoing focus on cost reduction, led to double-digit growth in operating income compared to the first quarter 2018 in constant euros, and an improvement in the efficiency ratio, which dropped 118 basis points since December, to 48.1 percent
• Risk management: The NPL ratio remained at 3.9 percent, while the coverage ratio improved to 74 percent. The cost of risk stood at 1.06 percent
• Capital adequacy: The fully-loaded CET1 capital ratio closed the quarter at 11.35 percent, inching closer to the target of 11.5 to 12 percent, fully absorbing IFRS 16 impact
Profitability: BBVA continued to be a leader in profitability, with ROE standing at 9.9 percent, and ROTE at 11.9 percent, well above the average of its European peers
• Value creation for the shareholder: The tangible book value plus dividends per share rose 11 percent from a year earlier
• Board of Directors: At its meeting today, the Board also approved a series of agreements related to appointments and its committees
25 Apr 2019
BBVA Group Executive Chairman Carlos Torres Vila was responsible for welcoming participants to the 87th edition of the Endeavor’s ‘International Selection Panel’, which is currently taking place in Madrid. Entrepreneurs have a really important role: they can drive the society creating wealth and jobs, increasing competitiveness and fostering better use of resources,” said Torres Vila.
15 Apr 2019
It isn’t easy to live in Soacha. Despite being close to Bogota, basic services like running water are not available on a daily basis and the streets of this town, one of the most impoverished in Colombia, are known for their insecurity and lack of infrastructure. But everything is possible with an opportunity and enthusiasm and Jessica Hernandez is the perfect example of this. BBVA’s Group executive chairman wanted to meet the entrepreneur whose story was heard around the world following her speech at the United Nations during a BBVA Microfinance Foundation event.
09 Apr 2019
At an event organized by the Massachusetts Institute of Technology (MIT) in Boston, BBVA’s Group executive chairman presented Openmind’s new book, ‘Towards a New Enlightenment? A Transcendent Decade‘. Carlos Torres Vila and two contributing authors, Joanna Bryson and Sandy Pentland, discussed the implications of big data and artificial intelligence in the current technological context and its role in the so-called fourth industrial revolution.
15 Mar 2019
At his first Annual General Meeting (AGM) as Group executive chairman of BBVA, Carlos Torres Vila was re-elected as a Board member with more than 98 percent of the votes, according to the definitive data of the votation. The shareholders meeting in Bilbao today also supported the appointment of Onur Genç as a Board member of the BBVA Group with 99 percent of the votes. A large number of institutional and minority shareholders participated in the voting, with a quorum over 64 percent.
Carlos Torres Vila, Group executive chairman
- Impact on society: “The future of banking lies in financing the future. At BBVA we want to define the new way of banking that the communities we serve are calling for and need”
- Transformation: “In 2018 we reached a pivotal milestone: to surpass the threshold of 50 percent digital customers”
- Dividend: “The strong results allow us to increase the dividend. At this Annual General Meeting, BBVA is proposing a complementary dividend of €0.16 per share, to be paid in April this year.” The total dividend for the year amounts to €0.26 per share, a 37 percent payout of the bank’s profit
Onur Genç, Chief executive officer
- Digitization: “We began our transformation ahead of the curve, and we are already reaping the benefits of this foresight”
Prior to the start of BBVA’s Annual General Meeting, which is being held today in Bilbao, Group executive chairman Carlos Torres Vila discussed the bank’s 2018 results and milestones in the transformation journey with the media. He also shared BBVA’s vision for the future: “We are fully committed to become the banking business that society is demanding.”
14 Mar 2019
01 Mar 2019
The BBVA Foundation will present its most prestigious awards in Bilbao on June 18th. The eight category winners will be honored at the 11th Frontiers of Knowledge Awards ceremony, which will be hosted at the Euskalduna Palace. “Linking the Frontiers of Knowledge Awards to Bilbao, the city and its institutions become the hosts of an event that celebrates knowledge with world leading figures in different fields of science, technology and the arts,” said BBVA Foundation President Carlos Torres Vila.
BBVA Group executive chairman Carlos Torres Vila took advantage of Peruvian President Martín Vizcarra’s visit to Spain to confirm BBVA’s commitment to the country. The bank has had a presence in Peru for nearly 25 years now. “We want to foster access to banking services in Peru through universal, customer-oriented banking,” said the BBVA chairman.
01 Feb 2019
Carlos Torres Vila presented BBVA’s 2018 earnings in his first press conference as chairman of the bank. He stressed that the “positive results” were sustained by recurring revenues, cost containment efforts and the strength of the Group’s diversified business model. During the presentation, he also addressed the news published in some media outlets regarding services provided by Grupo Cenyt. The chairman made appeals not to “prejudge” the alleged news and to let the BBVA investigation “do its job”, which will be conducted with “rigor, diligence, and thoroughness” in order to shed light on the facts. In addition, he made assurances that “BBVA has been, is, and will continue to be an honest bank”
- Transformation: More than half of BBVA customers are digital, meeting the target set for 2018
- Income: Operating income grew 6.2 percent at constant exchange rates, thanks to the increase in recurring revenues and cost discipline
- Risks: BBVA showed strength in risk indicators, with an NPL ratio declining to 3.9 percent, and a coverage ratio of 73 percent
- Solvency: At the end of December, the fully-loaded CET1 ratio stood at 11.3 percent
- Shareholder value creation: The tangible book value per share plus dividends grew 10.1 percent in 2018, while the ROE increased to 11.6 percent
- Dividend: A cash payment in a gross amount of €0.16 per share, to be paid in April as final dividend for 2018, is expected to be proposed for the consideration of the competent governing bodies
29 Jan 2019
BBVA’s Group Executive Chairman Carlos Torres Vila explained just why cooperation between banks and the fintech ecosystem is key. He also made a powerful case for a G20 coordinated approach to digital regulation to foster innovation and drive competition at an event in Paris, alongside the IMF managing director, Christine Lagarde.
14 Jan 2019
I am writing to you in relation to the recent pieces of news that are affecting us so much. Everyone at BBVA is shocked by the information reported which started on January 9. These pieces of news link BBVA to the monitoring or interception of private communications. If true, it would be undoubtedly extremely serious, deplorable behavior, radically opposed to what we are and what we stand for, and, ultimately, to the values of BBVA that move us every day.
31 Dec 2018
Carlos Torres Vila is, first and foremost, a great strategist. He’s capable of looking at any issue, delving into it until he unravels its complexity and understands all the details. He can then translate his insights into something that’s easy to understand. Once he’s made up his mind, he makes a decision and concentrates on executing on his idea. He fully relies on his teams: He makes sure that everyone who is seated at the table – regardless of seniority, responsibility or age – takes part in the conversation. He encourages everyone to share their opinions, and he values bright ideas.
26 Dec 2018
Francisco González was greeted warmly by the auditorium at Ciudad BBVA in Madrid where he was bid farewell with applause and a standing ovation. The bank’s executive chairman was interviewed by his successor, Carlos Torres Vila, in a memorable conversation that the Group employees could follow from more than 30 countries. After 22 years at the helm of the bank that has become BBVA, Francisco González declared that “with much effort,” the legacy he leaves behind is “a bank in solid financial shape, an extraordinary project, and an absolutely exceptional team.”
21 Dec 2018
BBVA has received all the required administrative authorizations from the European Central Bank (ECB) for the resolutions approved by the Board of Directors of BBVA at its meeting held on Dec. 20, 2018, to come into full effect.
12 Dec 2018
Carlos Torres Vila took part in the ‘14th Banking Industry Meeting’ organized by IESE and EY in Madrid. BBVA’s CEO spoke about how digital transformation reflects on the outside, but originates inside organizations. In the current environment, he believes that banks need to harness the potential of new technologies to create opportunities for their customers. “We think big, not only in the sense of being ambitious, but of being innovative, breaking molds and surprising the customer,” he said.
05 Nov 2018
BBVA’s CEO recently spoke at the DeustoForum in Bilbao. Carlos Torres Vila discussed BBVA’s transformation strategy in front of an audience of the Basque business community and current Deusto University students and alumni. “In today’s world opportunities are digital. That’s why we focus on the digitization of our customers, providing channels that are always available and a simple, agile experience,” he maintained.
30 Oct 2018
At a press conference Carlos Torres Vila released BBVA’s earnings for the January-September 2018 period. The forthcoming decision on who should pay the levy on documenting mortgages loans – banks or the customers – which is due to be made by Spain’s Supreme Court on November 5, was raised during the presentation. In regard to the possibility of the ruling being retroactive, he stated “You can’t penalize those who have followed the law. This is precisely what the principle of legal certainty embodies, which protects us all.”
BBVA today presented its earnings for the January-September 2018 period. What stands out in the bank’s quarterly financials? In the words of BBVA CEO Carlos Torres Vila: “In spite of a challenging situation in Turkey and Argentina, the results we are presenting today reveal the strength of our business model and geographic diversification.”
Following the release of BBVA’s Q3-18 earnings, CEO Carlos Torres Vila today said that “our third-quarter results bear witness to the strength of BBVA Group’s business model and diversification.”
• Transformation: Digital and mobile customers as well as digital sales continued to grow across all geographies, with a positive impact on efficiency. Digital customers now account for 49% of the total, very close to the year-end target of having half of the customers banking through digital channels
• Income: Operating income improved (+5.8 percent at constant exchange rates), driven by a positive trend in recurring revenues and containment in operating expenses. BBVA’s ROE between January and September was 12.2 percent, with ROTE standing at 14.8 percent
• Risks: The NPL ratio was 4.1 percent in September (4.4 percent in June). Coverage ratio reached 73 percent
• Capital: Despite a complex environment, the fully-loaded CET1 ratio stood at 11.34 percent. During the first nine months of the year, the tangible book value per share plus dividends grew 7.2 percent to €5.95
03 Oct 2018
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.
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.
27 Jul 2018
In the presentation of its results to the media, BBVA’s CEO Carlos Torres Vila emphasized the bank’s “strong push to business digitization not only drives sales but is fundamental to cost control.” This “digital push” is driving total revenues while keeping costs down. As a whole, this allows efficiency to continue to improve. In fact, the efficiency ratio stood at 49.2 percent as of June, 82 basis points below the figure for 2017 at constant exchange rates.
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
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.
22 May 2018
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.
30 Apr 2018
BBVA’s results for the first three months of 2018 surpassed market estimates by a wide margin. Banking analysts reacted positively to the results of both the Group and its regional franchises, which outperformed consensus forecasts. On the whole, analyst reports focused on the bank’s revenue strength, cost containment efforts, and impairment losses below expected levels.
27 Apr 2018
BBVA’s strategy to bolster digitization translates into more digital sales, which are the main driver of total sales thanks to their impact on customer satisfaction and efficiency. These were some of the key insights shared by BBVA CEO Carlos Torres Vila during the bank’s Q1-18 conference call: “Digitization helps us improve efficiency while driving profit growth,” he said.
BBVA kicked off 2018 with a strong performance. First-quarter earnings confirm the positive trends seen in the previous quarters. “We had a very solid start of the year, with solid and recurring results. The significant progress in the transformation highlights the success of our strategy,” said BBVA CEO Carlos Torres Vila.
These are the keys to BBVA’s results in the first quarter of this year:
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
14 Apr 2018
In an interview with Spanish daily ‘El País’ from Silicon Valley, BBVA Chief Executive Officer says that “data belongs to customers and can only be used with their consent.” In comments to ‘El País’ Carlos Torres Vila also advances that BBVA is exploring the use of blockchain in corporate loans. This technology has the potential “to add a lot of transparency, efficiency and immutability, and offers a wide array of other possible uses.”
04 Apr 2018
“Our way is to help our customers take the best decisions.” In an in-depth interview with Actualidad Económica magazine, BBVA CEO Carlos Torres Vila explained the profound transformation that BBVA is undergoing. This is a process that is materializing in customized solutions to help the bank’s customers and clients achieve their vital goals, he added.
09 Mar 2018
14 Feb 2018
- Good results: In 2017, the BBVA Group posted a net attributable profit of €3.52 billion (+1.3%). Excluding the accounting adjustment of Telefónica and the capital gains from extraordinary corporate operations, net profit in 2017 was €4.29 billion, up 23.3% from a year earlier. The main drivers behind this result were a positive performance of recurring revenue, cost containment efforts in operating expenses and an effective risk management strategy
- Group Executive Chairman: Total remuneration of BBVA Executive Chairman for 2017 was €5.8 million, up 18% from 2016. The Chairman’s variable compensation rose 12% compared to the previous year. The deferred variable remuneration is subject to multi-annual indicators, based on which remuneration can be reduced or taken to zero, never increased. It also includes a Malus clause that could limit or prevent its collection, and clawback clauses intended to reduce or reclaim already paid amounts
- CEO: Carlos Torres Vila’s total remuneration was €4.9 million in 2017. HIs variable compensation is also subject to the same deferral period and conditions as that of the Chairman
05 Feb 2018
01 Feb 2018
BBVA’s digital customers are increasing in number, are more satisfied and interact more with the bank. In fact, the bank has reached its digital tipping point, at which more than 50 percent of its customers are using the bank’s digital channels in six countries (Spain, the United States, Turkey, Argentina, Chile and Venezuela). It’s a milestone that foreseeably will be reached this year by more of the countries where BBVA operates. Indeed in Davos last week, BBVA Group Executive Chairman Francisco González predicted the Group’s customer base as a whole will pass the 50 percent tipping point in 2018.
29 Jan 2018