The BBVA Foundation Frontiers of Knowledge Award in Economics, Finance and Management has gone in this fifteenth edition to Timothy J. Besley (London School of Economics), Torsten Persson (Institute of International Economic Studies, Stockholm University) and Guido Tabellini (Bocconi University,) for “illuminating the connections between the economic and political worlds” and “transforming the field of political economy,” in the words of the committee’s citation.

BBVA's CEO, Onur Genç, said Monday that he is very satisfied with the performance of the digital bank's business and customer acquisition in Italy, one year after its launch. “We expect to end the year with 160,000 customers, almost triple the initial forecasts,” he said during his presentation at the XIII Encuentro Financiero Expansión KPMG.

Türkiye Garanti Bankası A.Ş., reported its results for the first nine months of the year. The bank posted a net income of TL 38.73 billion from January - September 2022, with total assets reaching TL 1.22 trillion and lending amounting to TL 873.29 billion through cash and non-cash loans.

BBVA Research has revised upward its estimate of Spanish GDP growth for 2022 to 4.4 percent (from the 4.1 percent forecast three months ago), although its outlook has deteriorated for 2023, when growth is expected to reach just 1 percent (from the previous 1.8 percent). This is according to the latest 'Situación España' report, presented today by Jorge Sicilia, Director of BBVA Research and BBVA's Chief Economist; Rafael Doménech, Head of Economic Analysis; and Miguel Cardoso, Chief Economist for Spain.

The British publication has once again recognized BBVA as the bank with the best real estate solutions in the region. Furthermore, Euromoney named the Peru and Argentina franchises as finalists in their respective countries, thanks to their home loans.

The EIB Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), has signed a new asset-backed securities (ABS) purchase agreement with BBVA. The deal encompasses several transactions through a single securitization, with a structure designed to achieve optimal efficiency. In addition, the EIB Group signed an agreement with BBVA for a €54 million synthetic securitization under the European Guarantee Fund (EGF) program.

BBVA's research unit revises its Spanish GDP growth forecasts for 2023 downward from 3.3% to 1.8% but keeps its estimate for 2022 unchanged at 4.1%. This reflects the scarcity of some raw materials and rising commodity prices generally, with the consequent increase in production costs already feeding through to inflation. In addition, the financial burden on businesses and families is expected to become heavier as the European Central Bank (ECB) moves forward with the withdrawal of quantitative easing. These trends are analyzed and discussed in the latest ‘Spain Economic Outlook’ report, presented by Jorge Sicilia, Director of BBVA Research and BBVA's Chief Economist, Rafael Doménech, Head of Economic Analysis, and Miguel Cardoso, Chief Economist for Spain.

BBVA's research unit revised its Spanish GDP growth forecasts downward to 4.1% in 2022 and 3.3% in 2023 (from 5.5% and 4.9% previously). The downgrade takes account of the impact of the invasion of Ukraine, the sanctions imposed on the Russian economy, and steeply rising prices—especially for fuel and electricity—over the past few months, as indicated in the latest 'Spain Economic Outlook' report presented by Jorge Sicilia, Director of BBVA Research and BBVA Chief Economist, Rafael Doménech, Head of Economic Analysis, and Miguel Cardoso, Chief Economist for Spain.

The Shareholders' General Meeting (also known as the Annual General 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.

Garanti BBVA recently released its 2021 results, posting the highest growth in Turkish lira (TL) loans among private banks. The total amount of cash and non-cash loans for the year was TL 609.74 billion, and assets reached TL 849.40 billion. Deposits remained the primary source of funding, representing 69 percent of total assets, or TL 582.26 billion and growth of 63 percent over the year.  Garanti BBVA’s strong capital position remains, with a capital adequacy ratio of 13.98 percent (not including temporary measures taken by Turkey’s financial regulator, the BRSA). The return on average equity (ROAE) was 19.0 percent and the return on average assets (ROAA) was 2.0 percent (excluding one-off items).  The bank’s net income for the year was TL 13.59 billion.

BBVA has closed its first balance sheet synthetic securitization of a project finance loan portfolio. This is a transfer of risk to institutional investors Alecta and PGGM that allows the bank to free up 80% of the capital on a portfolio of project loans that will remain on the bank's balance sheet.