24 Sep 2018
Financial services industry trade publication American Banker has named BBVA Compass Chief Talent and Culture Executive Rosilyn Houston to its Women to Watch list for the third consecutive year.
08 Sep 2018
This summer, BBVA launched the first edition of the BBVA Values Global Recognition Program. It’s a special recognition designed to reward employees who best represent BBVA’s Values: The Customer Comes First, We Think Big, and We Are One Team. The awards are called the ViVa Awards.
30 Aug 2018
29 Aug 2018
BBVA Compass announced Wednesday the appointment of David Bolocan as its Executive Director of Consumer Segments and Deposits, where he has overall responsibility for setting the strategic direction of consumer deposit products and the retail and mass market segments.
Moody’s has affirmed BBVA’s A3 rating, maintaining a stable outlook on the Group’s financial debt. The ratings agency said the rating affirmation reflects the resilience of BBVA’s credit profile to the deterioration of the operating environment in Turkey.
10 Aug 2018
BBVA has requested arbitration procedures through the complementary mechanism of the ICSID – the International Center for Settlement of Investment Disputes – within the framework of the Reciprocal Investment Promotion and Protection Agreements between Spain and Bolivia with respect to the transfer of BBVA Previsión AFP (Pension Fund Administrator) to the Government of Bolivia.
27 Jul 2018
Türkiye Garanti Bankası A.Ş. announced its financial statements for the first half to June 30, 2018. On a consolidated financial basis, in the first six months of 2018, Garanti had assets of TL384.878 billion, while its contribution to the economy through cash and non-cash loans increased to TL319.244 billion. The Bank’s ROAE (Return on Average Equity) was 18.1 percent and ROAA (Return on Average Assets) 2.1 percent.
BBVA reported net attributable profit of €2.65 billion for the first six months of 2018, up 14.9 percent from the same period a year earlier (+29.5 percent in constant terms). Upbeat revenue trends, containment in operating expenses, and lower loan-loss impairments and provisions were the key drivers of growth.
BBVA today released its second quarter 2018 financial results. What were the key figures? To begin with, the bank is close to meeting its goal of having 50 percent of its total customer base made up of digital customers. Customer digitization drives sales through digital channels, propels total sales and improves efficiency. BBVA CEO Carlos Torres Vila said, “We were off to a very good start of 2018 last quarter, and this quarter we’ve managed to achieve some excellent results.”
Following the release of BBVA’s Q2-18 earnings, BBVA CEO Carlos Torres Vila said today that the quarter’s net attributable profit stood at €1.31 billion, bringing the total for the first six months of the year to €2.65 billion, up 15 percent from the same period a year earlier. “We were off to a very good start of 2018 last quarter, and this quarter we’ve managed to achieve some excellent results, despite the uncertainty surrounding some of the markets in which we operate,” he said.
- Transformation: At the end of June, BBVA’s digital customer base stood at 25.1 million (+26 percent yoy). Of these, 20.7 million were mobile customers (+43 percent yoy). Digital sales increased in H1-18 and now account for 39 percent of total sales. All this contributed to strengthen recurring banking revenues and to keep efficiency at 49.2 percent
- Income: Solid trends in recurring revenues and cost containment efforts drove operating income growth in the first six months of 2018 (+6.8 percent in constant terms). Profitability has also improved significantly. ROE stood at 11.7 percent, while ROTE was 14.3 percent
- Risks: Risk indicators continued to perform robustly. At the end of June, the NPL ratio stood at 4.4 percent, with coverage of 71 percent
- Capital: A pro-forma fully-loaded CET ratio of 11.40 percent was reached in June. It includes the sale of BBVA Chile (finalized in July) and the Cerberus agreement to reduce its exposure to the real estate business. The tangible book value per share grew in the quarter
06 Jul 2018
BBVA has celebrated its first ‘Values Day.’ A day to embrace and live the values of the Group: Customer comes first; We think big; We are one team. BBVA Executive chairman Francisco González and CEO Carlos Torres Vila reaffirmed these values as “the heart of a long process of transformation that the bank is spearheading at a global level.”
25 Jun 2018
BBVA is a global brand. BBVA’s purpose is to “bring the age of opportunity to everyone.” And today, opportunities lie in the digital world. And this is where we strive, trying to tell the best stories about our journey. That is why we’re reinventing ourselves and introducing the new bbva.com
18 Jun 2018
BBVA has agreed to sell a property development loan portfolio worth €1 billion (gross) in a deal that virtually puts the finishing touches to its strategy of reducing its real-estate risk in Spain in half the time initially expected. BBVA estimates that including all the operations announced since December 2016 it has cut its gross exposure to the sector by €20 billion.
08 Jun 2018
Jaime Sáenz de Tejada is Spain’s best CFO and the best in Europe’s banking industry, according to the Extel Survey. Group BBVA has achieved excellent results in different categories in the 2018 edition of this prestigious international survey.
06 Jun 2018
BBVA Compass, the U.S. subsidiary of global financial services group BBVA, announced last Wednesday that Celie Niehaus has been named the bank’s Chief Compliance Officer and a member of its Management Committee.
31 May 2018
To celebrate the 50th anniversary of the International Capital Market Association (ICMA), BBVA took part in a conference on capital markets. What will they be like in the future? According to José Manuel González-Páramo, they will be “digital and sustainable”. Digital on the strength of innovation by technologies such as blockchain, automated advice and trading algorithms; and sustainable because they will help attract “green” finance.
16 May 2018
Mexican president Enrique Peña Nieto has honored Francisco González with the Mexican Order of the Aztec Eagle in recognition of his professional career. At the awards ceremony, BBVA Group Executive Chairman extended his gratitude and expressed confidence in the future of the country. “Mexico is destined to play a leading role in the community of nations. It has everything: resources, keen, hard-working people and its geographical location.”
11 May 2018
A year after the inauguration of the BBVA Francés Tower in Buenos Aires, BBVA’s new regional headquarters exemplify the bank’s transformation strategy, which is being rolled-out in all its operating countries. A transformation that is supported by the reshaping of physical spaces.
09 May 2018
BBVA opened its headquarters in Madrid to welcome investors, business leaders, public and private institutions and the media, to an event aimed at promoting sustainable development and the fight against climate change. During the first edition of the ‘BBVA Sustainable Finance Forum,’ Group Executive Chairman Francisco González explained the reason for the meeting: “Banks need to help customers drive sustainable development and transition towards a low-carbon economy. At BBVA, we want to be the catalysts of this change.” Francisco González opened the event alongside Soraya Sáenz de Santamaría, Vice-President of the Government of Spain.
08 May 2018
BBVA Compass in April announced a new addition to its Employee Assistance Plan (EAP) benefit, Rethink, an award-winning program that provides support to parents raising children with learning and behavioral challenges, or developmental disabilities.
27 Apr 2018
BBVA posted a net attributable profit of €1.34 billion between January and March 2018, up 11.8 percent compared to the same period of 2017 (+22.3 percent in constant terms) and the highest quarterly result in the past three years. During Q1-18, BBVA Group’s net attributable profit grew across all regions year-on-year. A solid performance of recurring revenues, moderation in operating expenses and the drop in impairment losses on financial assets and provisions were the main drivers supporting this growth.
BBVA CEO Carlos Torres Vila explained today, following the release of the BBVA’s first quarter financials for 2018, that the net attributable profit increased 12 percent, to €1.34 billion. “We had a very solid start of the year, this has been our highest quarterly result in three years,” he said.
- Transformation: Digital sales grew in all regions and accounted for 37 percent of total in Q1-18. Clients banking through digital channels rose 25 percent yoy, while those using mobile devices grew 43 percent. Such exponential growth contributed to the strength of recurring revenues, and the efficiency ratio reached its best reading since June 2012
- Income: Driven by strong recurring revenues and cost containment efforts, the operating income grew 5.1 percent yoy in constant terms
- Risks: Risk indicators continued to perform positively. At the end of March, the NPL ratio stood at 4.4 percent, with coverage of 73 percent
- Capital: BBVA’s pro forma fully-loaded CET1 ratio -including the already announced agreements of BBVA Chile and Cerberus, which are to be concluded later this year- stood at 11.47 percent at the end of March
20 Apr 2018
Financial institutions are preparing to present Q1 2018 earnings. Next week, it will be the turn of most Spanish banks, among them BBVA.
05 Apr 2018
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) filed on April 5, 2018 with the Securities and Exchange Commission BBVA´s Annual Report on Form 20-F for the year ended December 31, 2017.
The Annual Report can be found on Investor Relations BBVA´s website in the section dedicated to Financial Information 2017.
26 Mar 2018
In 2017, BBVA Group paid €9.9 billion in taxes, a 5 percent year-on-year increase. The amount paid in worldwide taxes for its own business activities was €4.1 billion, 9 percent more than in 2016. For the sixth consecutive year, BBVA has voluntarily disclosed its total tax contribution, consisting of the total of its own taxes and those made on behalf of third parties, thus complying with its corporate principle of transparency and a commitment to social responsibility.
19 Mar 2018
After the AGM’s approval of the financial statements for last year, BBVA has made available to the market the most salient information on the year in the ‘BBVA in 2017’ report. The report lays out in a simple and intuitive way details on the strategy and performance of the Group throughout the year, with the focus on matters of relevance for BBVA interest groups.
16 Mar 2018
Moments before the start of BBVA’s Annual General Meeting, to be held in Bilbao today, Francisco González made some remarks in which he reviewed last year’s results and the advances in the digital transformation project. “2017 has been a very good year for BBVA, and 2018 will be even better. And I know it will, because I have never seen our company so strong, so committed, and so united as under this transformation project.” he said.
14 Mar 2018
BBVA signed a collaboration agreement with the Spanish Patent and Trademark Office (SPTO), setting out the cooperation framework to raise awareness on and facilitate the understanding of industrial property-related issues within BBVA.
13 Mar 2018
Representatives of the Government of Singapore, a beacon of innovation in Asia, and BBVA met at the institution’s headquarters in Madrid to share digital experiences and strengthen cooperation. The Government of Singapore inquired about BBVA’s digital strategy and set out its views on fintech and cybersecurity regulations.
The Shareholders General Meeting is one of a capital company’s fundamental governing mechanisms. During the meeting, the shareholders of the company adopt resolutions about matters required by law or by the company’s corporate bylaws. In the case of listed companies, AGMs have a defined structure established by the corporation law.
02 Mar 2018
Garanti Bank CEO Fuat Erbil said the turkish bank’s performance last year far exceeded expectations and looks forward to extending that success this year. “Last year was much more positive than expected, both for the country, the sector and Garanti,” Fuat Erbil told journalists in a recent meeting. “As witnessed by the positive outlook for key indicators and investor interest, 2017 was a successful year for Turkey. The banking sector’s performance excelled expectations as domestic demand increased and economic activity as a whole expanded”.
28 Feb 2018
- Bond issues: Based on the Green Bond Principles, within the Social Bond Principles and the Sustainable Bond Guidelines of the ICMA, the bank will also publish the framework linked to the Sustainable Development Goals required for the issue of its own sustainable bonds
- First Spanish bank to commit to the Science Based Targets Initiative to certify that emission goals are consistent with the decarbonization level required to meet the 2ºC goal set for 2050
- Renewable power pledge: BBVA has pledged to deliver 70 percent of its energy consumption with renewable sources by 2025, and to cut its CO2 emissions by 68 percent
- Fossil fuels: In line with its commitment to transparency, the bank reveals its total exposure to fossil fuels as 3.4 percent of its total assets
BBVA today announced its strategy around climate change and sustainable development, Pledge 2025. The strategy will help the bank meet the United Nations Sustainable Development Goals and is in line with the Paris Agreement on Climate Change. Pledge 2025 will help the bank align its activity to a 2ºC Scenario and strike a balance between sustainable energy and fossil fuel investments and is based on three lines of action: financing, management and engagement.
21 Feb 2018
On January 31st, the European Banking Authority (EBA) announced the formal launch of this year’s EU-wide stress test exercise of the euro area. It also unveiled the macroeconomic scenarios under which the exercise will be carried out. The adverse scenario implies a deviation of EU GDP from its baseline level by 8.3% in 2020, resulting in the most severe scenario to date. The EBA expects to publish the results of the exercise by 2 November 2018
14 Feb 2018
- Good results: In 2017, the BBVA Group posted a net attributable profit of €3.52 billion (+1.3%). Excluding the accounting adjustment of Telefónica and the capital gains from extraordinary corporate operations, net profit in 2017 was €4.29 billion, up 23.3% from a year earlier. The main drivers behind this result were a positive performance of recurring revenue, cost containment efforts in operating expenses and an effective risk management strategy
- Group Executive Chairman: Total remuneration of BBVA Executive Chairman for 2017 was €5.8 million, up 18% from 2016. The Chairman’s variable compensation rose 12% compared to the previous year. The deferred variable remuneration is subject to multi-annual indicators, based on which remuneration can be reduced or taken to zero, never increased. It also includes a Malus clause that could limit or prevent its collection, and clawback clauses intended to reduce or reclaim already paid amounts
- CEO: Carlos Torres Vila’s total remuneration was €4.9 million in 2017. HIs variable compensation is also subject to the same deferral period and conditions as that of the Chairman
13 Feb 2018
12 Feb 2018
BBVA will propose the appointment of Jaime Caruana, Ana Peralta and Jan Verplancke as independent board members at its Annual General Meeting. With these new additions, BBVA will strengthen the board’s financial and technological capabilities. It will consist of 15 members, the majority of whom will be independent.
01 Feb 2018
In 2017, the BBVA Group generated a net attributable profit of €3.52 billion (+1.3%). Without taking into account the impairment losses from Telefónica, net profit for 2017 stood at €4.64 billion, up 19.7% compared to 2016 results, excluding the provisions related to ‘floor clauses’ in Spain. Record revenue and cost containment efforts in operating expenses were the main drivers of this result.
BBVA Group Executive Chairman Francisco González today hailed 2017 as “a great year for BBVA” and declared “2018 would be even better.”
- Transformation: More than half of BBVA customers in Turkey, Spain, USA, Argentina, Chile and Venezuela are already digital. As a whole, the digital customer base grew 25 percent in the year (to 22.6 million), while mobile customers grew 44 percent (to 17.7 million)
- Record revenues: Income reached record highs in 2017. Recurring revenue grew 4.1 percent y-o-y, (+10.3percent excluding currency impact), and expenses dropped 2.3 percent in the year (+2.2 percent at constant exchange rates), boosting operating income to €12.77 billion
- Risks: The NPL ratio continued to improve, reaching 4.4 percent (vs. 4.9 percent in December 2016), its lowest level since June 2012. Coverage at year-end stood at 65 percent
- Capital: The fully-loaded CET1 ratio stood at 11.1 percent at the end of December, above BBVA’s target
- Dividend: A cash payment in the gross amount of €0.15 per share, to be paid in April as final dividend for 2017, is expected to be proposed for the consideration of the competent governing bodies
25 Jan 2018
The week of the publication of fourth quarter 2017 results (4Q17) begins and as it does, we remember the five keys to understanding a bank´s results. The following infographic shows how to interpret the most important figures.
09 Jan 2018
In accordance with accounting regulation, BBVA will make an adjustment in its accounts regarding its stake in communications provider Telefónica. This entry does not involve any cash outflow, nor does it have any impact on the bank’s capital ratio or the payment of dividends. The adjustment will be reflected in the income statement for Q4-17.
15 Dec 2017
BBVA’s Group Executive Chairman was given the Vocento Corporate Leadership Award for his career achievements. Vocento recognized Francisco González as a “corporate leader with numerous accomplishments who saw the emergence of digitization in our lives as an opportunity, and decided to turn the bank into a digital company.”