18 Jan 2021
This year, the Davos Forum will be celebrating its most special and challenging edition, in the midst of the ongoing COVID pandemic. For this reason, the 51st edition of the World Economic Forum (World Economic Forum, WEF) will be held in two phases: An virtual one in January and another one, face-to-face, in May. The summit will convene politicians, businessmen and representatives of social and cultural organizations at a crucial time for the world, under the tagline ‘The Great Reset‘.
04 Jan 2021
BBVA is a global brand. As our tagline says, the bank works to “bring the age of opportunity to everyone.” And in these times, more than ever, a world of opportunities are in the digital world. That is where we navigate trying to tell the best stories of a journey that BBVA.com began five years ago. During the months of March and April 2020, BBVA’s corporate website broke its record for monthly users thanks to a new content section on COVID-19, which signaled the enormous audience interest in information related to the pandemic.
21 Dec 2020
In an interview posted on BBVA’s corporate website, Carlos Torres Vila takes stock of 2020 and offers his vision for next year. The Chairman assures that, despite its complexity, “it has been a year of relevant strategic achievements” and “we face 2021 with an unparalleled position of strength to invest in growth and to increase shareholder distributions.” In this sense, and after the recent sale of the franchise in the U.S. and the ECB decision on dividend payments, BBVA considers “a sizeable share buyback¹ as a very interesting option.”
Carlos Torres Vila sat down for an interview during which he went over the key milestones achieved and lessons learned in 2020, and shared his insights into BBVA’s plans for the new year, in a context of health and economic uncertainty. “We face 2021 with an unparalleled position of strength to invest in growth and to increase shareholder distributions,” he said.
In an interview posted on BBVA’s corporate website, Carlos Torres Vila takes stock of 2020 and offers his vision for next year. The Chairman assures that, despite its complexity, “it has been a year of relevant strategic achievements” and “we face 2021 with an unparalleled position of strength to invest in growth and to increase shareholder distributions”.
18 Dec 2020
Garanti BBVA offers its clients an advanced long-term currency transaction service through its Forward product, available on its website’s business section.
18 Nov 2020
The sale of the U.S. subsidiary is “an extraordinary agreement” for everyone, as it “creates enormous value for shareholders and gives us a wide range of strategic options,” BBVA CEO Onur Genç said during his presentation this Wednesday at the 27th Financial Sector Meeting organized by Deloitte, Spanish daily ABC and Sociedad de Tasación. In this regard, he noted that “we will only participate in operations that create value for shareholders.” “We aren’t in a rush,” he added.
30 Oct 2020
BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today net income of $166 million for the third quarter of 2020 compared to a net loss of $124 million in the second quarter of 2020 and net income of $183 million in the third quarter of 2019. Return on average assets and return on average tangible equity(1) for the third quarter of 2020 were 0.63 percent and 7.32 percent, respectively.
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.
30 Sep 2020
BBVA USA’s Senior Executive Vice President and Chief Talent & Culture Executive Rosilyn Houston was named today to American Banker’s Top 25 Most Powerful Women in Banking list, marking the fifth consecutive year she has been recognized by the outlet.
28 Sep 2020
In an interview with ‘La Linterna’ de COPE, BBVA’s Group Executive Chairman said that the EU funds to face the health crisis represent “a great opportunity”. In his opinion, if invested “productively in long-term growth and combined in combination with structural reforms”, they can help tackle key problems of the Spanish economy, such as structural unemployment. “We also need to invest in education, focusing on the world of the future: the digital world, the world of data and addressing the transition to a more sustainable world, socially and environmentally.”
01 Sep 2020
The world of work and professional environments are in the midst of a full blown transformation process, especially in the wake of the COVID-19 lockdown. According to Ophelie Richard, BBVA global head of Talent Acquisition, “the value of assigning workstations to specific individuals based on their hierarchy within the organization has been completely redefined.” And this, in her opinion, “opens up great opportunities, from hiring employees regardless of their geographic location to workstation virtualization.”
31 Aug 2020
BBVA Executive Chairman Carlos Torres Vila has described the European recovery plan (Next Generation EU) as “a landmark opportunity for Spain.” He asserted that “if the aid is complemented by appropriate reforms, Spain could put an end to its elevated structural unemployment, which has hovered above 16 percent over the last four decades, while laying the foundations of an economy based on green and digital growth, a data-driven economy.”
27 Aug 2020
The mortgage scene can be a complex one. During normal times, consumers find themselves with a lot of questions that need to be answered in order to make an informed decision on one of the biggest milestones in their lifetimes.
05 Aug 2020
In what has been a steady flow of awards from Greenwich Associates, BBVA USA was recently recognized by the financial industry research firm for its response to the COVID-19 pandemic.
31 Jul 2020
As companies across the globe struggle to find a balance between protecting the health and safety of employees and maintaining an efficient and effective workforce, BBVA is using its highly visible leadership team to meet that challenge with frequent transparent updates.
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 USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today a net loss of $124 million for the second quarter of 2020 compared to earnings of $160 million in the second quarter of 2019. Included in the second quarter 2020 results is a substantial increase in provision for credit losses, well in excess of net-charge-offs, that reflects the ongoing adverse macroeconomic environment and corresponding forecasts given the COVID-19 pandemic and subsequent impact to certain segments of the loan portfolio.
Thanks to the bank’s efforts to anticipate impairments related to the COVID-19 in 1Q20, BBVA earned €636 million in the second quarter, doubling the underlying profit from the first quarter. This quarterly figure is on top of extraordinary provisions of €644 million due to the pandemic. In a complex environment, BBVA has once again demonstrated the strength of its operating income, which grew 17.6 percent at constant exchange rates, and its outstanding ability to generate capital. In the first half of the year, net attributable profit excluding one-offs was €928 million (-57.8 percent yoy in constant euros). Including the U.S. goodwill adjustment –recorded in 1Q20– the bank swung to a €-1.16 billion loss between January and June.
15 Jul 2020
BBVA was selected as the best bank in Latin America in 2020 by Euromoney magazine. It was also named the region’s best bank for sustainable finance for the second year in a row. The publication also recognized BBVA as the best bank in Mexico and Argentina.
07 Jul 2020
06 Jul 2020
18 Jun 2020
BBVA USA today announced the addition of Dale Kahil to the Commercial Banking – Emerging Companies team in the Houston market, providing another key team member to the group’s growing operations.
10 Jun 2020
Twelve months ago, BBVA announced the worldwide unification of its brand and logo. A year later, the deployment of the new brand is well-entrenched across the Group’s footprint in both its physical and digital assets.
09 Jun 2020
The BBVA USA Houston market, in line with its emphasis on employee development, has promoted Estefanía Gallardo from Relationship Support Specialist to Commercial Relationship Associate.
08 Jun 2020
26 May 2020
BBVA USA has funded approximately $3.3 billion small business loans in less than 60 days, processing more than 22,000 applications and impacting approximately 360,000 jobs through its efforts in the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), the bank announced today.
13 May 2020
The ‘RRSSalud’ project is researching the dynamics and types of fake news regarding coronavirus on social networks, thus helping to alleviate the negative effects of this health crisis. Coordinated by the researcher Ramón Salaverría, the initiative is part of the BBVA Foundation’s 2019 program to assist scientific research teams in economics and digital society. One of the first conclusions of the study has determined that one-third of current fake news stories refer to the health crisis contain health or scientific content.
30 Apr 2020
BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today a net loss of $2.2 billion for the first quarter of 2020. Included in first quarter 2020 results is goodwill impairment (non-cash charge) totaling $2.2 billion reflecting the drastic change in macroeconomic conditions and forecasts brought about by the COVID-19 pandemic. Excluding the impact of this non-cash charge, the adjusted net loss¹ for the quarter was $52 million, further reflecting the abrupt decline in interest rates and higher provision expense necessary to reflect the economic and business disruption caused by the pandemic.
BBVA posted a recurring profit of €1.26 billion in 1Q20 (+6.4 percent yoy), driven by the highest operating income in ten years (+14.1 percent), and boosted by a good performance of revenues and a containment in operating expenses. Following front-loaded provisions of €1.43 billion related to the COVID-19 crisis, BBVA earned €292 million in the first three months of the year. Including the goodwill adjustment at the U.S. unit, the bank registered a €1.79 billion loss in the quarter.
Carlos Torres Vila, Group Executive Chairman:
27 Apr 2020
21 Apr 2020
As part of Turkey’s national solidarity campaign, BBVA’s franchise will donate 200 ventilators to the Turkish Ministry of Health.
07 Apr 2020
Saving lives and preventing the collapse of intensive care units (ICUs). That is the priority for Spanish hospitals (and those around the world) during the peak of the COVID-19 pandemic. A recent report by the Gregorio Marañón University Hospital in Madrid, which analyzed one of the non-invasive ventilators from China (Yuwell 730), concludes that “its use is expected to delay or even prevent the need to transfer patients to the ICU, and therefore help to relieve their saturation.”
06 Apr 2020
BBVA USA today announced its commitment of more than $3.7 million to support organizations that are providing community support in response to the coronavirus pandemic. The funds are earmarked for a combination of community support, including a distribution of $1 million in rapid response funding.
03 Apr 2020
BBVA’s has increased its initial €25 million commitment to €35 million to be used in to fight the coronavirus pandemic in the countries within its operating footprint. BBVA Group Executive Chairman Carlos Torres Vila recently explained that the bank must “step up” and use everything in its power and all its resources “to save lives, alleviate the economic impact, and help others overcome these difficult times.”
01 Apr 2020
“The effects of the pandemic are devastating. Along with the irreparable loss of human life, both the virus and social confinement are contributing to a severe economic dilemma that cuts across society, including such susceptible segments like SMEs and the self-employed. At BBVA, we want to be as close to our customers as possible. Mitigating the socioeconomic impact of the coronavirus pandemic is crucial,” explained Lidia del Pozo, Director of Community Investment Programs at BBVA. During a webinar entitled ‘Responsible Banking during the COVID-19 Crisis,’ organized by the United Nations Environment Programme Finance Initiative (UNEP FI), representatives from financial institutions from around the world shared their strategies for addressing the pandemic and its impact on society.
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.
BBVA Group is staying ahead of the crisis with a global remote working plan that protects customers and employees alike. It has also ensured continued, uninterrupted operations for both consumer and business customers by strengthening digital access to its full suite of services. To contain the spread of COVID-19, BBVA has significantly reduced the number of employees working in its branch offices.
25 Mar 2020
BBVA USA is providing additional assistance across its footprint to those who have been negatively impacted by the COVID-19 outbreak, including new offers for consumers and small businesses, and specialized benefits for employees.
The Group is to donate €25 million to combat the coronavirus outbreak across its footprint. This week, BBVA will deliver an initial batch of medical equipment, respirators and surgical masks, worth approximately €3 million to Spanish health officials.
24 Mar 2020
BBVA’s Turkish franchise is launching new measures to protect the health of employees, customers and society, while tackling the possible economic challenges generated in Turkey by coronavirus.
23 Mar 2020
Garanti BBVA, BBVA’s Turkish unit, has implemented a series of proactive measures to address the coronavirus pandemic, currently affecting 176 countries in the world. Garanti BBVA considers the health of its employees’, their families’, and society at large as its most important priority.
19 Mar 2020
13 Mar 2020
BBVA Group’s executive chairman referred to the Cenyt case at the 2020 Annual General Meeting, which was held on March 13, 2020. This is a transcript of what he said at the meeting.
14 Feb 2020
After naming a new CEO to take over its Houston market to start the year, BBVA USA has now announced that it has appointed Dee Hunt as its new Houston Global Wealth Executive.