Garanti BBVA CEO Recep Baştuğ is one of Türkiye’s top 50 sustainability leaders
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.
27 Apr 2023
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 posted a net attributable profit of €1.85 billion in the first quarter of 2023 (+39.4 percent at current exchange rates, +40.5 percent in constant euros). These results were fueled by strong core revenue performance (net interest income and net fees and commissions) especially in Mexico and Spain, and higher activity. The loan portfolio grew 9.8 percent in constant euros vs. March last year, amplifying the impact of BBVA on society through financing of future projects for families and companies. In 1Q23, BBVA added 2.6 million new customers and channeled €14 billion in sustainable business. All of that while maintaining stable risk indicators in line with expectations, and a comfortable liquidity and CET1 capital position, which stood at 13.13 percent at the end of March.
21 Apr 2023
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.
17 Mar 2023
"BBVA faces 2023 with confidence and prospects for profitable growth in our main markets"
Carlos Torres Vila, Chair
- Customers: “We added more than 11 million new customers in 2022. We reach more people and we can increase the positive impact of our activity”
- Lending: “Last year we helped more than 100,000 families purchase their home and we financed nearly half a million SMEs and the self-employed”
- Shareholder distributions: BBVA is proposing to the AGM the distribution of €3.02 billion in dividends and a share buyback program
Onur Genç, CEO
- Results: Underscore “the trend of rising profits over the past ten years,” with the exception of the year of Covid
- Soundness: “Risk management has always been one of our strengths”
- Employees: “For BBVA, having the best, most diverse and committed team is a strategic priority and we work hard for this to be a reality”
BBVA is holding its Annual General Meeting at the Euskalduna Conference Center in Bilbao this Friday. The Chair of the bank, Carlos Torres Vila, analyzed the global macroeconomic situation, marked by uncertainties in financial markets and geopolitical, inflationary and interest rate tensions. In this context, BBVA produced solid figures in 2022, while increasing distributions to shareholders. Carlos Torres Vila assured that “despite the uncertainty and market volatility, at BBVA we face 2023 with confidence and prospects for profitable growth in our main markets.” “It is at times like these when the strength and soundness of the business model and of the risk management of BBVA stand out the most,” he said.
14 Mar 2023
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.
09 Mar 2023
In 2022, BBVA continued to grow and to create opportunities for everyone. The bank made decisive progress in two of its strategic priorities: innovation and sustainability. It was also a banner year for the bank’s strategy of profitable growth, earnings and shareholder distributions. Through it all, in the current context BBVA has honored its deep-rooted commitment to stand by households, businesses and the wider community, leaving no one behind.
06 Mar 2023
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) filed on March 6, 2023 with the Securities and Exchange Commission BBVA´s Annual Report on Form 20-F for the year ended December 31, 2022.
The Annual Report can be found on BBVA’s Investor Relations website http://shareholdersandinvestors.bbva.com in the section dedicated to Financial information 2022.
10 Feb 2023
01 Feb 2023
In 2022, BBVA had major advances in its strategy: It added more than 11 million new customers and continued to increase its digital sales, which already account for nearly 80 percent of the total. Furthermore, the bank channeled €50 billion in sustainable business. These achievements led to a net attributable profit of €6.42 billion in 2022, up 38 percent compared to the previous year (+39 percent at constant exchange rates), its highest to date. This figure is the result of solid income growth, bolstered by a double-digit increase in lending (+13.3 percent in constant euros). Operating income also posted a record (€14.13 billion). With these results, the bank will distribute more than €3 billion through a significantly higher dividend, which will reach €0.43 per share, and a new €422 million share buyback program¹.
16 Jan 2023
Carlos Torres Vila: "In 2023, BBVA will continue to grow and create opportunities for everyone"
BBVA Chair Carlos Torres Vila takes stock of 2022 and shares his outlook for 2023 in relation to BBVA, but also the economy in an interview published on the bank’s corporate website. In his opinion, despite the current environment of uncertainty, BBVA’s strengths and strategy -based on innovation and sustainability- will allow the bank to continue to grow and create opportunities for its customers, shareholders, employees and society as a whole.
27 Oct 2022
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.
27 Sep 2022
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.”
21 Sep 2022
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.”
13 Sep 2022
BBVA issues a €1.25 billion senior preferred bond, maturing in five years with a 3.375 percent coupon
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.
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.
27 Jul 2022
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.
28 Jun 2022
BBVA starts final tranche of share buyback program; will apply hyperinflationary accounting in Türkiye
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.
29 Apr 2022
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.
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.
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.
18 Mar 2022
"The invasion of Ukraine will have structural consequences on the global economy"
Carlos Torres Vila, Chair
- Ukraine: ”The Russian invasion of Ukraine represents an enormous human tragedy.” “There is no doubt that the war will increase inflation and will negatively impact growth”
- Strength: BBVA has great capacity to continue growing and to take advantage of the opportunities provided by the two major trends that are defining the future: innovation and sustainability
- Shareholders distributions: The total amount could reach up to €5.5 billion, taking into account the highest cash dividend per share of the past ten years, €0.31 per share, and the €3.5 billion share buyback program underway.
Onur Genç, CEO
- Results: We have posted “the highest recurring profit of the past 10 years.” The Group’s excellent earnings “are the result of a superb performance in all of our countries.”
- Goals: “We have set some very ambitious goals that show our commitment to profitable growth and value creation for shareholders”
- Team: “None of this would be possible without the best team. Everything we have achieved and our future successes are and will be thanks to the people that make up BBVA”
On Friday, BBVA is holding its Annual General Meeting at Bilbao’s Euskalduna Conference Center. Before going over the figures from 2021, Chair Carlos Torres Vila spoke of the invasion of Ukraine, which above all, represents an “enormous human tragedy.” In that regard, he said that beyond its immediate impact, this war “will have structural consequences on the global economy,” conditioning international relationships in all areas. “We are facing a new world order,” he added.
17 Mar 2022
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.
04 Mar 2022
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) filed on March 4, 2022 with the Securities and Exchange Commission BBVA's Annual Report on Form 20-F for the year ended December 31, 2021. The Annual Report can be found on BBVA’s Investor Relations website http://shareholdersandinvestors.bbva.com in the section dedicated toFinancial information 2021.
25 Feb 2022
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).
15 Feb 2022
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.
18 Nov 2021
Investor Day: Garanti BBVA CEO evaluates Turkey's economic outlook and the bank’s performance and strategies
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.
Peio Belausteguigoitia: “We aim to double the annual customer acquisition rate of recent years”
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.
Investor Day: BBVA increases shareholders distributions and sets ambitious goals through 2024
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.
16 Nov 2021
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.