Business economics and corporate information
19 Aug 2022
BBVA has completed the final segment of its share buyback program today as it has reached the maximum target of shares. The framework buyback program, which started in November 2021, is now complete, having achieved its target of buying back 9.6% of its capital. This is one of the largest European bank share buybacks ever conducted.
28 Jul 2022
Garanti BBVA released its financial statements dated June 30, 2022. Based on the consolidated financials, the Bank posted net income for the first 6 months of the year of TL 21.18 billion. Assets came to TL 1,096 billion, while the Bank’s contribution to the Turkish economy through cash and non-cash loans was TL 799.5 billion.
14 Jul 2022
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.
01 Jun 2022
Garanti BBVA recently completed its first derivative transaction linked to environmental, social and governance (ESG) criteria with Bank of America.
25 Apr 2022
Garanti BBVA reported its financial results for the first quarter of 2022, posting a net income of TL 8.26 billion, and TL 953.35 billion in assets. Garanti BBVA CEO Recep Baştuğ called attention to the bank’s performance in lending, with the loan portfolio soaring 17 percent to TL 309 billion. “It was a quarter in which we gained market share from the sector in both TL and foreign currency loans, and we are the leader in consumer loans among private banks,” he said. The bank provided a total of TL 712.12 billion in cash and non-cash loans.
09 Mar 2022
Garanti BBVA recently published its 2021 Integrated Annual Report entitled ‘How Does a Bank Create Value?’ Covering both the bank’s activities throughout the year and its economic indicators, the aim of the report is to serve as an example and an inspiration, inviting all of the Garanti BBVA’s stakeholders to turn words into action.
02 Feb 2022
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.
29 Nov 2021
At the 12th Financial Meeting organized today by Expansión and KPMG, BBVA’s CEO said that over the past year the bank has made a series of relevant strategic decisions, such as the sale of its U.S. subsidiary, the largest share buyback in Europe and the takeover bid for a 50.15 percent stake in Turkey’s Garanti BBVA. They all show that “we are very committed to shareholders’ profitability,” he added. Onur Genç also underlined the 2024 objectives that BBVA presented at its Investor Day: “Our goals are very ambitious and we are committed to achieving them.”
18 Nov 2021
BBVA is holding its Investor Day this Thursday, when it will present its plan for the 2021-2024 period. It will focus on turning significant social and environmental challenges - like the technological disruption or decarbonization of the economy - into opportunities for profitable growth while having a positive impact on society. BBVA has released an ambitious set of objectives in terms of efficiency, profitability and tangible book value plus dividends, which it aims to reach in 2024. It also set a customer acquisition objective and reaffirmed its commitment to channel €200 billion of sustainable finance through 2025. Additionally, BBVA has increased its payout to 40-50 percent of its annual consolidated ordinary profit.
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.
27 Oct 2021
Türkiye Garanti Bankası A.Ş., has just reported its financial statements as at 30 September 2021. Based on the consolidated financials, the Bank’s net income in the first 9 months of the year was recorded as TL 9.071,591k. Realized Assets were reported of TL 630,848,420,000and the Bank’s contribution to the economy via cash and non-cash loans was TL 499,840,175k. Focusing on customer happiness, deposits continued to be the main funding source; 68% of assets are funded via deposits. The deposit base reached TL 428,204,119k, with 20% growth in the year’s first 3 quarters. Maintaing the strong capital stance, the bank’s capital adequacy ratio was realized at 15.65% (Except for temporary measures taken by BRSA)(. The Bank delivered an ROAE (Return on Average Equity) of 19.2%** and an ROAA (Return on Average Assets) of 2.2% ( In calculations of average return on assets and average return on capital, one-off items are not included in annualization of net profit.).
29 Jul 2021
BBVA gives a new boost to its strategy, promoting sustainability to the highest level of the organization. Javier Rodríguez Soler, current country manager in the U.S., will head the new area, which aims to make BBVA the leading bank for clients in sustainability solutions. Separately, Jaime Sáenz de Tejada (CFO) and Rafael Salinas (CRO) are exchanging responsibilities.
Türkiye Garanti Bankası A.Ş., announced its financial statements dated 30 June 2021. Based on the consolidated financials, the Bank’s net income in the first 6 months of the year was recorded as TL 5 billion 437 million 136 thousand. Asset size realized at TL 607 billion 787 million 125 thousand and the Bank’s contribution to the economy through cash and non-cash loans was TL 473 billion 179 million 816 thousand.
29 Jun 2021
'The Banker' magazine has published its list of the 1,000 best banks worldwide in its 2021 edition, and has placed BBVA at number 35. The magazine uses its own methodology in which it analyzes more than 30 indicators for each bank, grouped into eight categories: growth, operational efficiency, return on risk, solvency, profitability, asset quality and leverage.
30 Apr 2021
The BBVA Group obtained a net attributable profit of €1.21 billion in the first quarter of 2021 - a figure that shows a return to levels prior to the outbreak of the COVID pandemic. These results were achieved thanks to strong recurring revenue - despite the complex environment - and lower impairments and provisions compared to those made in the first quarter of 2020 in anticipation of the crisis. “In the first quarter of 2021, we produced positive results in an environment that continues to be very challenging. In a context of profound change in our sector, we continue to move forward in key areas of our strategy: sustainability and digital transformation,” said Onur Genç, CEO of BBVA.
29 Apr 2021
Türkiye Garanti Bankası A.Ş., announced its financial statements dated 31 March 2021. Based on consolidated financials, the Bank’s net income in the first three months of the year were recorded as TL 2.54 billion. Asset size realized at almost TL 569 billion and the Bank’s contribution to the economy through cash and non-cash loans was arround TL 446 billion. Actively managing the funding base, deposits continued to be the main funding source; 65% of assets were funded via deposits.
19 Apr 2021
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.
26 Feb 2021
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) filed on February 26, 2021 with the Securities and Exchange Commission BBVA´s Annual Report on Form 20-F for the year ended December 31, 2020.The Annual Report can be found on BBVA’s Investor Relations websitehttp://shareholdersandinvestors.bbva.com in the section dedicated to Financial information 2020.
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:
28 Jan 2021
Garanti Bankası A.Ş., announced its financial statements on December 31, 2020. Based on the consolidated financials, in 2020, the bank’s net income recorded was TL 6 billion 385 million 163 thousand. Asset size realized at TL 540 billion 912 million 805 thousand and the bank’s contribution to the economy through performing cash and non-cash loans reached TL 415 billion 799 million 688 thousand.
08 Jan 2021
By Alexis Barton
As integration planning efforts continued—and almost one month after PNC’s acquisition of BBVA’s U.S. subsidiary was announced— BBVA USA team members across the bank began to be introduced to PNC’s leaders and structure in a series of virtual town halls. The events kicked off the week of Dec. 14 and are scheduled to continue through January.
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.”
23 Sep 2020
Garanti BBVA was named the winner of a Gold Stevie Award in the “Best Annual Report” category for its 2019 Integrated Annual Report published under the tagline, “The Next Decade.” The Stevie International Business Awards is the only global awards program that recognizes well-known international companies and executives for their achievements.
10 Sep 2020
BBVA placed on Thursday a $2-billion issue of senior preferred debt filed with the U.S. SEC. The issue consists of two tranches, with a maturity of three and five years: The three-year tranche accounted for $1.2 billion, while the five-year one reached $800 million. Demand topped a maximum of $5 billion, with 210 orders, and the book closed with orders of $4.5 billion: $2.5 billion for the three-year tranche and $2 billion for the five-year tranche. Investors' appetite allowed for the starting price to be set lower. The interest rate has been set at the U.S. Treasury rate plus 75 basis points spread for the three-year tranche (versus a starting spread of 100 bps) and a 100 bps spread for the five-year tranche (vs. a starting spread of 125 bps).
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.”
19 Jun 2020
Garanti BBVA’s management team received first place in the 2019 Corporate Management Awards presented by the Turkish Union of Corporate Management (TKYD).
30 Apr 2020
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.
09 Mar 2020
Following a selection process that began last November and involved large international firms in advertising communication, BBVA has awarded tenders for media management and the digital ecosystem to WPP Group and Accenture Interactive, respectively.