Garanti BBVA CEO Recep Baştuğ has ranked fourth in this year’s Top 50 Sustainability Leaders list, published by the Turkish edition of business publication Fast Company. Bastug was singled out among nearly 150 leaders of companies, banks and startups, following a thorough selection process by a jury of 34 business personalities and experts from around the world.

Türkiye’s Garanti Bank earned a net income of TL 15.5 billion in the first quarter of the year. Total assets stood at TL 1.5 trillion and the bank contributed TL 1.1 trillion to the economy through lending activity. Customer deposits reached TL 1.0 trillion (+14 percent this quarter) and remain the primary source of funding, with 70 percent of assets funded by deposits. Garanti Bank continues to have a strong capital position, with a ratio of 15.9 percent¹. Its ROAE was 38.2 percent in the first three months of the year, and ROAA stood at 4.5 percent².

BBVA has successfully completed the share buyback program announced on March 20, 2023, for a total of €422 million. This program is part of the distributions to shareholders for the year 2022. In total, BBVA devoted €3.02 billion to its shareholders, including a cash dividend of €0.43 (gross) per share and this share buyback plan.

The BBVA Annual Shareholder meeting will be held in Bilbao next Friday, March 13. The shareholder 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. BBVA’s AGM will be held on March 17th in Bilbao.

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 Chair Carlos Torres Vila said “Onur Genç is exceptional as a person, exceptional as a professional and as a team leader, and the bank’s excellent results are proof of that” with “an outstanding performance in all areas”. “This is the unanimous view of the BBVA Board. In short, we could not have a better CEO than Onur.” At an event in Madrid organized by the Spanish business association APD and Kearney, Torres Vila said some media reports speculating over a possible change of CEO were “a complete fabrication.”

In a presentation sent to the CNMV on the occasion of an event with investors this Wednesday, BBVA highlights the bank's track record in creating value for shareholders and its competitive edge, focused on profitable growth. This enables BBVA to present a positive outlook with recent improvements in its forecasts for loan growth and net interest income in markets like Spain and Mexico. The document that BBVA CEO Onur Genç will present at the conference organized by Bank of America emphasizes that “BBVA is an engine of profitable growth.”

BBVA placed a €1.25 billion senior preferred bond on the market today with a five year maturity. The issue price closed at an interest rate of mid-swap plus 115 basis points, significantly lower than the initial price (mid-swap plus 140/145 basis points). This represents a new issue premium of just 10 basis points over its fair value, considerably lower than the premiums obtained for recent operations in the debt market. The coupon was set at 3.375 percent.

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.

BBVA has recently appointed Pierre Goffin the bank's new Country Manager for France. Pierre has more than 25 years' experience in corporate and investment banking and will oversee business in this market. His main objective will be to strengthen relations with large corporations and the leading institutional and investor community in France.

BBVA will execute the final tranche of its share buyback program for a maximum amount of €1 billion, starting on July 1, 2022. The Group also announced that it will apply hyperinflationary accounting in Türkiye, effective January 1, 2022. Finally BBVA reaffirms its financial goals for 2024.

At the presentation of results for the first quarter, BBVA's CEO, Onur Genç, said the bank sees an improved outlook for Spain and Mexico in 2022, "thanks to better-than-expected business dynamics." He pointed out that business dynamics are "highly positive" in all geographies.

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.

BBVA's Board of Directors has agreed to increase the price offered for each share of the 50.15 percent of Garanti BBVA, from the initially announced (12.20 Turkish lira) to 15 Turkish lira.

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.

BBVA received approval from the Chilean Financial Market Commission (CMF) to open a representative office in the country's capital, Santiago de Chile. It will focus on developing and promoting the investment banking business, under the management of BBVA Corporate & Investment Banking (BBVA CIB).

BBVA has released the 2021 annual report on the remuneration of directors. For the first time the bank is applying the directors’ remuneration policy approved at the latest Annual General Meeting (AGM), which includes the best practices in the market in terms of compensation. In 2021, a year in which the bank posted its highest recurring result and the highest cash dividend per share of the past ten years, the total remuneration for the Chair and the CEO increased 5 percent and 8 percent, respectively, compared to 2019. The remuneration of 2020 is not comparable as that year both waived their full variable compensation as a gesture of responsibility during a period heavily marked by the pandemic.

The BBVA Investor Day allowed investors to learn firsthand the details and objectives of the bank’s strategy in Turkey. Garanti BBVA CEO Recep Bastug provided information on the country's economic outlook and potential, including Garanti BBVA's performance, competitive advantages and strategies.

During his talk at Investor Day on Thursday, BBVA's Country Manager in Spain, Peio Belausteguigoitia, said that the priority in Spain is profitable growth, which will be based on increasing its customer base. In this regard, he announced that the bank aims to double the annual rate of customer acquisition and expects to attract 3.6 million new customers in the next three years.

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.

BBVA will hold its Investor Day on Thursday, November 18th. The event will allow investors to learn firsthand about  the details and objectives of the bank’s strategy.