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"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.

BBVA’s Group executive chairman said that the bank has to “step up and make a difference” to do everything in its power to “save lives, mitigate the economic impact, and help others overcome these difficult times.” Carlos Torres Vila also announced that as an act of responsibility with society, customers and clients, shareholders and employees in the current context, “Those of us running the bank on a global level and in the different countries have decided to give up all variable compensation in the year 2020.” In a video made for employees, he maintained that BBVA is facing the COVID-19 crisis from a position of strength.

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.