Mergers and acquisitions
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20 Dec 2019
This week, BBVA sold two of its largest portfolios of written-off loans. Following the sale of “Project Juno”, the bank signed the transfer of a portfolio comprised of loans to small and medium sized enterprises (SMEs) with an approximate gross value of €2.1 billion.
18 Dec 2019
BBVA has signed the sale of a written-off loan portfolio (mostly consumer loans) worth a gross total of €2.5 billion. The transaction is BBVA’s biggest ever of this kind to date.
21 Jun 2019
BBVA has closed the transfer of most of the credits rights that comprise the Anfora portfolio. The transaction was announced in December 2018.
26 Dec 2018
BBVA has signed an agreement to transfer a credit portfolio, which is composed by mortgages credits (mainly non-performing and in default), with an aggregate balance amounting to approximately €1.49 billion to Canada Pension Plan Investment Board (CPPIB). The transaction is part of BBVA’s strategy to reduce to the fullest its exposure to real estate risks in Spain.
06 Jul 2018
After obtaining the pertinent regulatory authorizations, BBVA Group has closed the sale of its 68.19% stake in BBVA Chile and other companies in the country to Scotiabank, for a total of about $2.2 billion. The transaction will yield capital gains of about €640 million and will have a positive impact on BBVA’s fully-loaded CET 1 capital ratio of about 50 basis points.
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.
12 Dec 2017
BBVA won the Spanish Company category of the third annual Spanish-Turkish Official Chamber of Commerce and Industry prizes, which recognize achievements in promoting mutual understanding between the two countries. At the event, Jorge Sáenz de Azcúnaga, BBVA’s Director of Country Monitoring, said BBVA’s Turkish subsidiary Garanti Bank is one of the pillars of the group’s transformation.
29 Nov 2017
BBVA today announced an agreement with a subsidiary of Cerberus Capital Management, L.P. (Cerberus) to create a joint venture (JV) for its real estate business in Spain, reducing almost entirely its exposure to non core real estate assets. On the closing of the operation, BBVA will sell an 80% stake in the JV to Cerberus for about €4 billion. The transaction marks a milestone in BBVA Group’s strategy.
28 Nov 2017
BBVA received a binding offer from The Bank of Nova Scotia (Scotiabank) for its 68.19% stake in BBVA Chile and other related businesses such as the life insurance arm for about $2.2 billion (1.85 billion euros)¹. The offer does not include the automobile financing activity of Grupo Forum, that will continue to be 100% owned by BBVA.
30 May 2017
The Corporate Finance business at BBVA started 2017 in as good as shape as it ended last year. In 2016, BBVA closed 18 deals in Spain, 10 in Mexico and six in Latin America. The start of 2017 was very busy, and the Bank “hopes to once again be the bank with the most closed deals in its core markets, especially in Spain and Mexico.”
22 Mar 2017
16 Mar 2017
BBVA’s strategy to curb its exposure in the real estate market continues to bear fruit. The Group announced the sale of a 14 office-building portfolio in Spain, codenamed Project Boston.
16 Feb 2017
The BBVA Group sold a 1.7% stake in CNCB in the market for about €554 million, with net capital gains of about €177 million and thus concluding the sale of nearly its entire stake in the Chinese bank. Since the beginning, the investment in CNCB as a whole has generated a positive cash flow for BBVA of about €1.3 billion.
23 Dec 2016
As part of its ongoing efforts to accelerate transformation by growing its portfolio of digital businesses, BBVA has signed an agreement to acquire Mexican startup Openpay, a company that offers a broad range of advanced online payments solutions and functionalities.
27 Oct 2016
-Income: Positive trends in recurring revenues (NII plus fees and commissions) continued between January and September, boosting gross income to €18.43 billion (+5.1% y-o-y)
-Risks: The Group’s NPL ratio remained stable and stood at 5.1% at the end of September, the same level as in December 2012, while the coverage ratio was 72%
-Capital: BBVA achieved its 2017 capital goal ahead of schedule. The fully-loaded CET1 ratio stood at 11%, with a capital generation of 29 basis points in the quarter
-Transformation: BBVA’s digital customer base stood at 17.2 million (+20% in the past year). Of these, 11 million are mobile customers (+41%)
The BBVA Group earned €2.8 billion between January and September 2016, up 64.3% from the same period a year earlier. Stripping out the impact of corporate operations and currency fluctuations, growth reached 15.0%. Net attributable profit rose to €965 million in the third quarter.
18 Apr 2016
BBVA Colombia is 60 years old: six decades dedicated to promote economic growth. We review its history from the livestock fairs, the first office and its growth par with the needs of Colombian people, to become a model of innovation in the financial sector.
05 Apr 2016
Mark Mullen, Atom’s CEO said: “This is the start of a remarkable transformation of the banking landscape for everyone. Atom aims to offer a genuine alternative to the traditional banks that dominate the UK banking landscape. Our approach will be to constantly evolve and extend our offering, with monthly updates to our app and a dedication to providing a better value, greater transparency and a much more innovative banking experience.”
24 Nov 2015
BBVA has agreed to invest £45m (around €64m) for a 29.5% stake in Atom, the UK’s first mobile-only bank, which will launch in early 2016. The investment is part of BBVA’s strategy to lead financial services in the digital age.
30 Oct 2015
BBVA earned €2.82 billion in the first nine months of 2015, up 45.9% in y-o-y terms, without considering the one-off impacts from corporate deals closed so far this year (partial sale of CNCB and sale of CIFH and acquisitions of Catalunya Banc and of a 14.89% stake in Garanti). After factoring in these impacts, net profit totaled €1.7 billion, down 11.8% from a year earlier.
07 Oct 2015
BBVA has obtained authorization from the Central Bank of UAE to open a Representative Office in Abu Dhabi to provide support for the bank’s large customers and institutional clients. The new office to be located on the 23/F, Tower 1, Sowwah Square, marks BBVA’s first entry into the Middle East and will mainly provide support for the global markets business.
27 Jul 2015
BBVA is now the leading shareholder in Garanti, Turkey’s largest bank in terms of market capitalization. After completing the transaction announced last November to acquire an additional 14.89% holding, the BBVA Group now owns to 39.90% of Garanti. Francisco González is in Istanbul due to the closing of the transaction and the appointment of the new Garanti CEO.
21 Jul 2015
The BBVA Group has taken a major step in its commitment to its domestic market by acquiring Catalunya Banc through an auction held by the Orderly Bank Restructuring Fund (known as FROB). The move doubles BBVA’s market share in Catalonia and makes it the most relevant player in the sector in Spain. The acquisition will have a positive impact on the Group’s results in 2016.
15 Apr 2015
BBVA has acquired Spring Studio, a San Francisco-based user experience (UX) and design firm, to accelerate the Group’s efforts to become the leading digital bank through great design and technology.
13 Mar 2015
Today, BBVA held its Annual Shareholders’ Meeting in Bilbao. In their speeches, the Chairman and CEO, Francisco González, and the President and COO, Ángel Cano, recapped the milestones of 2014 and outlined BBVA’s strategy going forward. “No one stands where we do, and we are doing what no one else is. We are building the best digital bank of the 21st century.” With these remarks on BBVA’s digital transformation, Francisco González opened his annual speech to the bank’s shareholders.
23 Jan 2015
BBVA has agreed to sell 4.9% of China CITIC Bank Corporation Limited (CNCB) for HK$13.136 billion, equivalent to about €1.46 billion. The operation generates a capital gain of about €400 million and improves the Common Equity Tier 1 fully loaded capital ratio of the BBVA Group by more than 20 basis points.
08 Jan 2015
23 Dec 2014
BBVA has agreed to sell its 29.68% in Citic International Financial Holdings Ltd. (CIFH) for about €845 million to China CITIC Bank Corporation Limited (CNCB). This deal improves the BBVA Group’s fully-loaded Common Equity Tier 1 capital position by around 20 basis points, equal to generating over €700 million in capital. The sale does not change BBVA’s stake in CNCB.
09 Dec 2014
20 Feb 2014
BBVA has agreed to acquire Simple, a US-based company that has created a new standard in digital banking. The acquisition is part of BBVA’s strategy to lead the technology-driven change that is transforming the financial services industry. The transaction values Simple at $117 million
17 Oct 2013
BBVA has agreed to sell a 5.1% stake in China CITIC Bank Corporation Limited to its partner CITIC Group for about 944 million euros. The deal, carried out at market price, will bolster BBVA’s BIS III fully loaded core capital by 2.4 billion euros. Following the sale, BBVA will remain a key shareholder in CNCB, with a 9.9% stake.
16 Apr 2012
BBVA named Mehmet Sezgin from Turkiye Garanti Bankasi as head of Global Payment Systems. Garanti is one of the world’s most advanced banks in payment systems and the appointment will help BBVA accelerate the addition of new applications to all its markets.
02 Nov 2010
BBVA announced today the acquisition of a 24.9% stake in Turkiye Garanti Bankasi, Turkey’s leading bank. The transaction is valued at €4.2 billion, 8.0 Turkish Lira per share, and it represents a 10% discount to last week’s Garanti average closing price. BBVA has also reached a shareholders’ agreement with Dogus Group–reference shareholder in Garanti, also with a 24.9% stake–to jointly manage the bank.