29 Oct 2021
BBVA Group posted a net attributable profit of €3.31 billion between January and September 2021, compared to a €15 million loss a year earlier. The recurring profit¹ stood at €3.73 billion, up 85 percent from last year. In 3Q21 alone, the attributable profit was €1.4 billion, one of the highest in record. These earnings were possible thanks to the solid performance of the net interest income and fees and commissions, and a better-than-expected evolution of impairments. The Group maintained its solid capital generation capacity (+31 basis points since June), with a fully-loaded CET1 ratio of 14.48 percent at the end of September. This capital strength allows BBVA to carry out a share buyback of up to 10 percent of its share capital, for a maximum amount of €3.5 billion.
30 Jul 2021
The BBVA Group’s attributable profit reached €2.33 billion between January and June 2021, excluding non-recurring impacts from the results generated by the sale of BBVA USA and the net costs of the restructuring plan in Spain. This figure is 146 percent higher than the one from 1H20 (+183 percent at constant exchange rates). Including these non-recurring impacts, the attributable profit stood at €1.91 billion, a figure that compares very favorably with the €1.16 billion loss recorded in the same period of the previous year amidst the pandemic breakout. These earnings were made possible thanks to revenue strength, particularly those linked to the bank’s core activity (net interest income and fees and commissions), as well as lower impairments vs. 1H20. Following the sale of the U.S. subsidiary, BBVA maintains a solid capital position, with a fully loaded CET1 ratio of 14.17 percent. The Group has also set the date for its Investor Day, on November 18, 2021, an online meeting where it will share its strategy and goals with the investment community.
12 Apr 2021
The Bank Insurance & Securities Association (BISA) has reaffirmed its 2021 Board of Directors, and Veronica Rink will serve her second year of her three-year term, the association announced. In addition, Rink will continue to serve on the organization's Membership Committee as well as other initiatives and task forces.
12 Feb 2021
BBVA Chairman Carlos Torres Vila and CEO Onur Genç will not collect their variable remuneration for 2020 as a gesture of responsibility in a year marked by the COVID-19 pandemic, as detailed in the annual remuneration report for BBVA directors. The decision is also a sign of their commitment to their customers, shareholders, employees and society as a whole. Additionally, the bank has updated its remuneration policy for the next three years (2021, 2022 and 2023), which will be presented for approval at the Annual General Meeting.
29 Jan 2021
Following the release of 4Q20 earnings, BBVA chairman Carlos Torres Vila said on Friday that BBVA’s “excess capital opens the door for extraordinary distributions for our shareholders.” In this sense, he mentioned that the bank “is targeting a buyback of about 10 percent of the Group’s shares, following the closing off the sale of the U.S. subsidiary.”
Carlos Torres Vila, Chairman:
BBVA earned €1.32 billion between October and December, its highest quarterly result over the past two years. In 2020 BBVA helped three million clients affected by the pandemic, with about €63 billion in government-backed credit lines and loan deferrals. The sale of the U.S. subsidiary will provide some €8.5 billion in capital to grow in a profitable way across its footprint and increase shareholder distributions. BBVA will make a gross cash payment of €0.059 per share against 2020 earnings, and expects to resume its shareholder distribution policy in 2021 with a payout of 35-40 percent of profits. Additionally, the bank is targeting a buyback of about 10 percent of the Group’s shares, after the close of the sale of the U.S. franchise. All this subject to market conditions and the required approvals.
30 Oct 2020
Following the release of 3Q20 earnings, BBVA CEO Onur Genç underlined on Friday that "this result shows a more normalized level, in line with previous years." The BBVA executive added that the €1.14 billion profit “represents a significant increase in the current context, up 79.5 percent vs. 2Q20 and 4.1 percent in constant euros, compared to the same quarter last year.”
BBVA earned €1.14 billion in the third quarter of 2020. It is the best quarterly result of the year and far exceeds the figure for 2Q20 (+79.5 percent in current euros, +83.4 percent at constant rates). Compared to the same period a year earlier, the 3Q20 result is 6.8 percent lower (+4.1 percent at constant rates). The strength of recurring revenues and cost containment efforts drove quarterly operating income to grow 13.5 percent yoy at constant exchange rates. In a challenging context marked by the pandemic, BBVA has shown a solid capacity to generate capital, with risk indicators having a positive performance. BBVA’s quarterly results also beat market expectations by 48 percent, as analysts’ consensus expected a result of €773 million.
Onur Genç, BBVA CEO:
21 Oct 2020
BBVA chairman gave the opening presentation at the national meeting of regional bank directors in Mexico today. This year, the meeting took place virtually, where the chairman reaffirmed the group’s commitment to the country. “Mexico will continue to play a fundamental role in our bank’s results thanks to our leading position and the strength of our business model in the country,” he said.
05 Oct 2020
23 Sep 2020
In a presentation for investors organized by Bank of America (BoFA) and in which BBVA CEO took part this morning, BBVA raised the Group’s guidance for 2020, thanks mostly to an improvement in its business activity in Mexico. At Group level, recurring revenues in constant euros will grow in 2H20 compared to the previous half of the year thanks to a recovery in new retail loan production and focus on price management. Furthermore, BBVA expects to beat its expectations regarding cost reductions for 2020, and improves its cost of risk expectations for 2020, to a range between 1.5 and 1.6 percent in cumulative terms for the year, thanks to a better performance in Mexico. The Group plans to close 2020 with a fully-loaded CET1 capital ratio above the target range. BBVA’s intention is to resume dividend payments once the existing supervisory recommendation is eliminated and COVID-19 uncertainties dissipate.
18 Sep 2020
03 Aug 2020
Analyst firm reports for the most part agree that BBVA presented solid numbers for the second quarter of 2020 and particularly stress the positive quarterly performance of its capital ratio.
31 Jul 2020
BBVA USA Indirect Auto Executive Melissa Sacher was named to American Banker’s Most Powerful Women in Banking: Next. Now in its second year, the list recognizes the accomplishments of women age 40 and under in the banking industry.
30 Jul 2020
BBVA CEO Onur Genç explained this Thursday, following the release of the 2Q20 earnings, that “our business is adapting to the current climate better than anticipated with particularly strong results in the second quarter.” Within this context, Onur Genç stated that “we have seen a profit of €636 million, half of what we reported a year ago, but more than double if we compare it with the results announced in the first quarter of the year, excluding the goodwill adjustment.”
29 Jul 2020
Turkey’s Garanti BBVA announced its financial results for the first half of the year. Based on the consolidated financials, the bank’s net income in the first six months of the year totaled TL 3.33 billion (approximately €407.61 million). Asset size reached TL 486.67 billion and the bank’s contribution to the economy through cash and non-cash loans was TL 367.14 billion. Actively managing the funding base, deposits continued to be the main source of funding, with 63 percent of assets funded through deposits. The total deposit base reached TL 306.88 billion with 11 percent growth in the first six months of the year. Preserving its strong capital position, the bank’s capital adequacy ratio stood at at 17.4 percent.* The bank’s ROAE (Return on Average Equity) was 13.1 percent and ROAA (Return on Average Assets) was 1.6 percent.
07 Jul 2020
11 Jun 2020
BBVA’s entire branch network in Spain is now operational after the bank reopened the last of the branches that had closed because of the COVID-19 health crisis. The branches will follow strict safety measures, and BBVA is relying on its appointment system—a service that was already available to customers but which is more important than ever—to encourage compliance with health guidelines and provide a better customer experience by cutting waiting times. BBVA Chairman Carlos Torres Vila visited a branch in Madrid to see how employees are handling this phase of the pandemic.
30 Apr 2020
BBVA’s recurring revenues (net interest income and net fees and commissions) grew strongly during the first quarter and the operating income was the highest of the past ten years. Also, the attributable profit absorbed the provisions established to anticipate the impact of the COVID-19 crisis. According to BBVA Group Executive Chairman Carlos Torres Vila, “the recurrence of our profits before provisions and our solid capital and liquidity position allow us to face the crisis from a position of strength and to front-load in this first quarter the provisions to hedge against the impact of the pandemic”.
BBVA Group executive chairman Carlos Torres Vila said that during the COVID-19 crisis, the bank has been committed to “supporting our customers, offering individuals flexibility in their payments, and providing companies the liquidity they need to face this crisis.” In the first quarter of 2020, prior to the introduction of public guarantee initiatives, the Group increased loans to businesses by €10 billion.
20 Apr 2020
Garanti BBVA founded SALT in 2011 as an autonomous non-profit entity devoted to the dissemination of culture and the development of independent and sustainable content production environments.
30 Mar 2020
As developments with COVID-19 continue to evolve, so does our approach to conducting business safely. At BBVA, we are taking a number of proactive steps to help ensure your access to banking services, while protecting the health and safety of you and our employees. During this difficult time, we have implemented measures, announced offers and provided resources to minimize the impact on you and your banking needs.
18 Mar 2020
The health crisis caused by the advance of coronavirus in Spain has put businesses and employees to the test. Recommendations and restrictive measures put in place by the government have all but brought commuting to a standstill. BBVA has adopted these measures in record time thanks to the protocols established in its continuity plans and its commitment to flexible work schemes, which has allowed the bank to continue providing the best service while ensuring the health of both its employees and customers and clients.
12 Mar 2020
YouTube started publishing its Ads Leaderboard list in 2017, to showcase the best performing and impactful advertising campaigns on its channels. The streaming giant has just released the list of ads that garnered the best results in Turkey in 2019, and, once again, Garanti BBVA’s campaigns rank high on list. The list is drawn up based on a number of factors, including the number of organic and paid plays, viewing time and the full playthrough ratio of each ad.
09 Mar 2020
The BBVA Annual General Meeting will be held in Bilbao next Friday, March 13. The shareholder meeting (or AGM) is one of a company’s primary corporate governance vehicles. During the meeting, the company’s owners (the shareholders) ratify decisions on topics determined by law and by the corporate bylaws. The AGM includes particular features that are established by corporate law.
27 Feb 2020
19 Feb 2020