03 Apr 2020
Reducing inequality, one of the key points in the UN’s SDG agenda (SDG stands for Sustainable Development Goals), has become an even more pressing issue in the midst of the coronavirus crisis, which is deepening existing social divides across the globe. María José Roa, researcher, teacher, member of the INFE/OECD Research Committee and winner of the BBVA EduFin Grants 2019, analyzes the root causes and the impact of these inequalities and the role of financial education to reduce them in Latin America.
02 Apr 2020
The coronavirus crisis has lead to a situation of instability and uncertainty in the markets. For investors, it’s time to keep a cool head and consult reliable, updated sources of information. On the other hand, people who would like to learn to invest while at home these days, have many different kinds of quality educational resources just a click away.
01 Apr 2020
“The effects of the pandemic are devastating. Along with the irreparable loss of human life, both the virus and social confinement are contributing to a severe economic dilemma that cuts across society, including such susceptible segments like SMEs and the self-employed. At BBVA, we want to be as close to our customers as possible. Mitigating the socioeconomic impact of the coronavirus pandemic is crucial,” explained Lidia del Pozo, Director of Community Investment Programs at BBVA. During a webinar entitled ‘Responsible Banking during the COVID-19 Crisis,’ organized by the United Nations Environment Programme Finance Initiative (UNEP FI), representatives from financial institutions from around the world shared their strategies for addressing the pandemic and its impact on society.
31 Mar 2020
BBVA Momentum, BBVA’s program in support of social entrepreneurship, is proud of its participant entrepreneurs who consistently demonstrate their ability to innovate under the most difficult of circumstances. The coronavirus crisis is no exception. A number of the Momentum program’s Spanish startup graduates have put the full weight of their ingenuity and resources into providing workable solutions to improve people’s lives.
30 Mar 2020
Garanti BBVA has put 10 million Turkish lira (approximately €1.4 million) into a fund to support public hospitals as they contend with the coronavirus pandemic. The money has been earmarked to address the most urgent needs of health care workers.
25 Mar 2020
One of the paradoxical consequences of the global crisis triggered by the COVID-19 is its impact on the environment. The quarantine is causing sharp declines in pollutant emissions across the world’s most populated cities.
24 Mar 2020
BBVA is lighting its corporate headquarters in Madrid as a symbol of its support for the professionals who are fighting day in and day out against coronavirus.
23 Mar 2020
19 Mar 2020
March has traditionally been the month of financial education, with major events like Global Money Week. However, the postponement of this event due to the coronavirus crisis has made online education take the lead in order to keep the spirit of these days dedicated to financial education.
17 Mar 2020
March 18 marks the start of the application period of this year’s edition of BBVA EduFin Research Grants, a program organized by the BBVA Center for Financial Education and Capabilities. The international call for grants invites candidates to submit their research proposals focusing on a range of topics related to financial education across the world.
16 Mar 2020
The BBVA Momentum 2019 closing event took place on March 3rd at the Impact hub in Madrid. It set the scene for putting a face and name to the most promising entrepreneurs of this season’s Momentum program. Their business pitches highlighted the potential of their growth plans, which is already starting to materialize for many of them.
05 Mar 2020
Madrid-based Ciudad BBVA today hosted the official conference of the Spanish Federation of Rare Diseases (FEDER), which included the participation of Queen Letizia; BBVA Group executive chairman Carlos Torres Vila; the Health Minister Salvador Illa; and the President of the Congress of Deputies Meritxell Batet.
04 Mar 2020
Twenty experts discussed the future of social entrepreneurship at the closing event of BBVA Momentum’s most international year yet. The event in Madrid brought together entrepreneurs from Mexico, Colombia, the United States, and Turkey. BBVA Momentum 2019 closed its most recent edition with an event where participating social entrepreneurs showcased their projects and sustainability played a central role.
28 Feb 2020
In just a few short days the closing event for BBVA Momentum 2019 will take place. International experts in social entrepreneurship will join the best of the best of this year’s pool of entrepreneurs at the celebration. The three most promising social ventures from this year’s Turkish Momentum program will travel to Madrid to present their business models.
Over 20 leading international and national experts and the most promising social entrepreneurs of BBVA Momentum 2019 edition will meet in Madrid for the global event bringing the edition to a close. Those attending this event will have a unique opportunity to expand their knowledge and professional network with the best ecosystem for social entrepreneurship.
27 Feb 2020
BBVA is the first financial institution in Spain to distribute cards made of recycled plastic. This launch is part of the bank’s commitment to the fight against climate, and adopt initiatives that contribute to the Sustainable Development Goals. The new cards, which are currently in the early stages of production, will begin circulating in the month of May. They will initially be available for those holding BBVA accounts for young people (Cuenta Joven BBVA).
25 Feb 2020
BBVA has mobilized €29,90 billion since it rolled out its Pledge 2025 initiative two years ago to contribute to the fight against climate change. It is almost one third of the €100 billion that the pledge envisages. The 2019 figure includes transactions in green financing (63 percent of the total); financial inclusion and entrepreneurship (13 percent); social infrastructures and agroindustry (9 percent) and other sustainable finance (15 percent).
24 Feb 2020
The 2019 edition of BBVA Momentum in Mexico has accelerated the growth of 100 social enterprises. The three companies that stood out for their potential growth and innovation will go to Madrid on March 3rd to participate in the global event ending this 2019 edition.
21 Feb 2020
The three 2019 BBVA Momentum winning social enterprises in the United States will attend the global event marking the close of this iteration of the program (to be held in Madrid on March 3rd) where they will share the full force of their business models. The three companies will participate in the premier social entrepreneurial event showcasing their initiatives, which seek to foster diversity, education, and access to healthcare in the communities they serve.
The Atlantic Council in Turkey and the European Bank for Reconstruction and Development (EBRD) recently held the ‘Renewable Energy Outlook Conference: Financing, Investment, Regulation, and New Technologies in Turkey, Central Asia, the Caucasus and the Western Balkans’.
19 Feb 2020
BBVA Momentum ends its 2019 program with the celebration of a global event in Madrid. International players in the sector and the three most promising entrepreneurs from each participating country will attend the event. The event will close the most ambitious year for the program, which accelerated the growth of 169 social businesses from Colombia, the United States, Mexico, and Turkey.
17 Feb 2020
What impact does financial literacy have on women’s empowerment? Is it possible to curtail gender violence rates through financial education? These are just some of the issues addressed by one of the wining papers of BBVA Edufin Research Grants, organized by the Center for Education and Financial Capabilities.
14 Feb 2020
BBVA increased its 2019 contribution to the communities it serves, allocating €113.8 million to social initiatives, thus benefiting 11.5 million people around the world, up 42 percent from the previous year. Of this investment, 85 percent is earmarked to the three areas defined as priorities in the Community Investment Plan: financial education; social entrepreneurship; and knowledge, education and culture.
13 Feb 2020
In an interview published in the latest edition of Compromiso RSE, Antoni Ballabriga, Global Director of Responsible Business at BBVA and Co-Chair of the Global Steering Committee for the United Nations Environment Programme Finance Initiative (UNEP FI), stressed that: “The financial sector’s sustainable partnership with the United Nations is more active than ever.” An initiative he feels promotes a financial industry that has a positive impact, serving people and the planet. “It’s something that it hopes to achieve by inspiring, informing and enabling financial institutions to improve people’s quality of life without compromising that of future generations,” he explains.
05 Feb 2020
BBVA’s Center for Financial Education and Capability is celebrating its third anniversary on February 6th. Since it was first established, this platform, which seeks to promote financial education as a driver to improve people’s financial health, has benefited from the collaboration of 100 different organizations participating in its initiatives. The center also serves as a complete information repository on the subject, and has showcased nearly 250 reports and publications and 140 best practices around the world.
29 Jan 2020
The Paris-based Organisation for Economic Co-operation and Development (OECD) has presented its report on private development financing. The study assessed more than 30 of the largest foundations in the OECD member countries and reveals that the BBVA Microfinance Foundation disbursed $1.2 billion in 2018. This represents 83 percent of the total of this kind of financing in Latin America, BBVAMF’s sole operating region. BBVAMF thus places first in the region and second globally, after the Bill and Melinda Gates Foundation.
27 Jan 2020
BBVA USA highlighted the work its employees do to share knowledge and empower community members through financial education in its recent submission to the Boston College Corporate Citizenship Film Festival.
23 Jan 2020
This year, a top priority at the Davos Forum is fostering a more sustainable development, a goal that BBVA is completely committed to. Speaking from Davos, chairman Carlos Torres Vila announced that, between 2018 and 2019 “we have already mobilized €30 billion, a figure that represents a major achievement.” This is almost a third of the €100 billion in sustainable finances that BBVA pledged to mobilize between 2018 and 2025.
20 Jan 2020
Carbon Disclosure Project (CDP), the world’s main platform for environmental information, has included BBVA in its “category A-”, consisting of leading companies in the fight against climate change. The bank has improved its rating in the past three years and is now in the top category: Leadership (A).
16 Jan 2020
BBVA is one of the top five European banks with the strongest commitment to sustainable finance, according to a report produced by World Resources Institute (WRI). The bank takes the top position in Europe and the third worldwide, when considered by asset size.
06 Jan 2020
Under the scope of agreements Garanti BBVA has signed with the International Finance Corporation (IFC), the Development Bank of Austria (OeEB), and Green for Growth Fund (GGF), the bank will allocate $133 million to support energy efficiency and renewable energy projects, small and medium-size businesses, and women entrepreneurs across 22 Turkish provinces.
03 Jan 2020
02 Jan 2020
A few years ago when BBVA decided to define its purpose, one of the intended goals was to foster a common corporate-wide culture based on a shared vision and values. This is no easy task because the profile of any large multi-national business will reflect the different backgrounds of its individuals: different nationalities, ages, etc. Young people today demand more from a job and are more aware than ever of the values that companies project. During the application process, companies will also weigh whether a job applicant fits with its corporate values. Some companies, like BBVA, are even beginning to define incentive plans to encourage alignment to the overarching corporate culture.
27 Dec 2019
At the forum entitled `Después de la Cumbre del Clima ¿Ahora qué?´ (The Climate Conference has ended, now what?, in English), Global Head of Responsible Business in BBVA, AntoniBallabriga, reflected on the steps that the banking sector must take following COP25. While acknowledging the “insufficient” results of the conference, he remarked that, “It marked another step toward reaching global agreements,” in which BBVA has actively participated. He highlighted the banking sector´s role in providing support and advice in the energy transition process.
26 Dec 2019
The 7th Survey on the Saving Habits of the Spanish Population; prepared by Instituto BBVA de Pensiones-Mi Jubilación (BBVA Retirement Pensions Institute – My Retirement), focuses on the Spanish baby boomer generation. The survey offers very revealing insights into the perception that people born between 1957 and 1977 (aged 42 to 62) have about their financial standing regarding their retirement. Elisa Chuliá, a member of the Forum of Experts of the BBVA Retirement Institute has taken a deep look a the survey’s results to narrow down the financial traits that define this generation.
24 Dec 2019
23 Dec 2019
Sustainability is a core part of BBVA’s strategy. This strategy encompasses the bank’s Pledge 2025, which is founded on three pillars: 1) to secure €100 billion for green financing, sustainable infrastructure projects, social entrepreneurship, and financial inclusion. In the 18 months prior to and through June 2019, the bank had already secured €22 billion, close to 20 percent of its goal; 2) to manage environmental and social risks in order to mitigate direct and indirect impacts. BBVA will place an internal price on its CO2 emissions, which will be factored into its decision-making processes. All this will contribute to the bank’s goal of being carbon neutral in 2020; and 3) to engage with all stakeholders in order to collectively advocate for sustainable development within the financial industry. In 2019, the bank spearheaded the initiative that resulted in the Principles for Responsible Banking, and it signed up to the banking sector’s Collective Commitment to Climate Action.
19 Dec 2019
The 13th annual Turkish Women Entrepreneur Competition, organized by Garanti BBVA in collaboration with Ekonomist Magazine and the Women Entrepreneurs’ Association of Turkey (KAGIDER), recognized the best and brightest women entrepreneurs in 2019.
BBVA Momentum will hold its 2019 global closing event on March 3, 2020. This year, the BBVA program in support of social entrepreneurship has broken its own record by accelerating the growth of 169 companies from the United States, Turkey, Mexico, and Colombia.
18 Dec 2019
They are both refugees. Einstein, considered one of the greatest geniuses in history, fled Nazi occupied Germany to the United States in 1933 after his civil liberties were revoked and he was barred from his professorship for being an outspoken opponent of the government. Fortunately, Princeton University recognized his intelligence and offered him a job. A fortuitous event that changed his life and ours, yet for many refugees today, such opportunities are scarce.
17 Dec 2019
To what extent does having a bank account while still a minor— without parental oversight or control of other guardians — influence one’s life? This is one of the principle questions answered by research conducted by Carly Urban of the University of Montana and selected by the BBVA Center for Financial Education and Capability during the first installment of the BBVA EduFin Research Grants.
11 Dec 2019
With the slogan “Time for Action”, the goal of the 2019 Madrid Climate Change Conference is for the countries to present their commitments and finalize the rules needed to implement the Paris Agreement in 2020. On an individual level, this conference is a good time to reflect on our own consumption habits and look at how to manage our personal finances in a sustainable, eco-friendly manner.
10 Dec 2019
BBVA’s practices in support of human rights have been assessed and recognized as one of world’s best in ‘The BankTrack Human Rights Benchmark 2019’ a industry benchmark report published Banktrack. BBVA’s overall mark – 7.5 points, after improving 4 points with respect to the 2016 edition, the highest increase by any of the 50 banks analyzed – placed the bank fourth in list released by the NGO, behind ABN AMRO and Rabobank (Netherlands) and Australia’s ANZ.
06 Dec 2019
For years Garanti BBVA has spearheaded projects that give back to society. Now the bank is kicking-off a new initiative: helping its customers celebrate their birthdays by making a contribution to a local charity.
04 Dec 2019
The rise in the global temperature has negative effects on the planet – effects that are difficult to revert in some cases. Increasing frequent heat waves, devasating fires – like the recent fires in California – and natural disasters like tropical cyclones, floods and droughts, have had an enormous impact on the environment and socioeconomic development.
02 Dec 2019
29 Nov 2019
28 Nov 2019
27 Nov 2019
BBVA will actively participate in the United Nations Conference on Climate Change (COP 25), which will be held in Madrid, starting on Monday, December 2. Some of the confirmed events include a round table discussion where BBVA Group executive chairman Carlos Torres Vila – together with representatives from other banks – will discuss new climate leadership. In addition, there will be a sustainable meal, sponsored by BBVA and prepared by the Roca brothers for heads of state and government officials.
26 Nov 2019
The European Commission defines microenterprise as a business that employs fewer than ten people and whose annual turnover does not exceed €2 million. BBVA Momentum, the BBVA program that supports social entrepreneurship, works with companies such as these, which are distinguished by an enthusiasm to grow in order to increase their positive impact.
19 Nov 2019
15 Nov 2019
It is common to think that saving is synonymous with not spending. But nothing could be further from the truth. Saving means spending better to make the most out of your money and, in addition, putting an amount aside to meet financial goals. The first step to achieve this is to draw up a family budget where all expenses are properly classified.
14 Nov 2019
World Usability Day is celebrated on the second Thursday of November. The goal of the day is to emphasize the importance of designing products that are simple to use and make life easier for everyone. BBVA Momentum, BBVA’s program to support social entrepreneurship, promotes companies that espouse inclusive design, ensuring no one is left out.
13 Nov 2019
These days the term sustainability seems to cover everything, and financial institutions are adapting to this new way of understanding the economy. In a gradual but unstoppable fashion, companies are incorporating sustainability criteria in their management. As a result, private and institutional investors are starting to call for global sustainable investment indexes that are rational, solid and reliable to allow them to monitor the evolving profitability of their sustainable investments.
07 Nov 2019
Garanti BBVA Mortgage unit has joined the Energy Efficient Mortgages Initiative (EEMI) Pilot Scheme which is supported by the European Union’s Energy Efficient Mortgages Action Plan (EeMap) Initiative, thus becoming the first EEM member from Turkey. As such, Garanti BBVA Mortgage joins 48 other lending institutions who have committed to testing the final energy efficient mortgages framework by implementing it into their existing product lines and processes.
05 Nov 2019
The image of the traditional billionaire, surrounded by luxury and oblivious to what is happening on the planet, is beginning to be a thing of the past. Some of the largest global fortunes have discovered impact investing and social entrepreneurship and are using these opportunities to take action and leave a positive mark on the world.
04 Nov 2019
Urgency and opportunity are the two defining traits of the current situation that financial institutions are facing in this climate emergency scenario. For Antoni Ballabriga, Global Head of Responsible Business at BBVA, there are “two axes that define this age of responsibility.” At BBVA, “we are lending at interest rates that reward companies that meet measurable sustainable goals.” In his opinion, the financial sector “is taking ownership of its share of responsibility in this transition, although we still have a long way to go.”
31 Oct 2019
BBVA USA pledged today to put nearly $15.5 billion in lending, investments and services toward supporting low- and moderate-income individuals and neighborhoods in the U.S. over the next six years, renewing its 2014 5-year $11 billion commitment to boost economic development across all the communities in its footprint.
World Savings Day celebrates a financial habit that should be learned from an early age to ensure better financial planning in the future. Young people aren’t adults yet and don’t have the financial responsibilities of grownups. But, as kids become teenagers, they do have to start facing certain challenges, such as managing their monthly allowances to save a bit – or at least not overspend – or start using their first bank account.
29 Oct 2019
Investor appetite for sustainable products has been growing exponentially in recent years. BBVA’s Global Head of Responsible Business, Antoni Ballabriga, revealed that “This year $350 million in sustainable bonds and corporate loans will be issued around the world, 30 percent more than last year, according to data from the Institute of International Finance (IIF).” During the ‘Sustainable finance in the face of environmental challenges’ forum, organized by Spain’s National Association of Economists (Consejo General de Economistas), Ballabriga stressed that “there is still a lot to be done” and “one of the current challenges is to incorporate this trend into the SME and consumer markets.”
25 Oct 2019
“According to United Nations estimates, meeting the Sustainable Development Goals will require mobilizing $5 to 7 billion per year. This explains the enormous scale of the changes that we need to address,” explained BBVA Global Head of Responsible Business Antoni Ballabriga, during speaking at the Open Summit event in Madrid. Ballabriga underlined the key role that financial institutions are called to play in a context “where sustainability is the biggest business opportunity for banks in the next 10 years”.
“The future of banking lies in financing the future.” With this phrase Carlos Torres Vila summed up his breakfast presentation, part of the “Finance and its challenges” series organized by the Deusto Business School in Madrid. According to BBVA’s executive chairman, social and environmental sustainability and the battle over customer data are the principle medium and long-term challenges facing the financial sector. “These challenges bring opportunities. Technology promises a bright future, and we have to seize the opportunities that come with it,” he maintained.
24 Oct 2019
23 Oct 2019
BBVA USA announced today that John Chan has been promoted to Director of the bank’s Community Development Capital team, where he will have overall responsibility for the origination and portfolio management of the bank’s Low Income Housing Tax Credit (LIHTC) projects across its footprint.
BBVA and its community investment program has once again been recognized as a world leader in corporate social responsibility, according to the latest edition of ‘Giving in Numbers’ released by Chief Executives for Corporate Purpose (CECP). BBVA appears in the upper quartile — among the 25 percent most prominent companies in the world — out of the 250 surveyed, thus sealing its position in community investment and social commitment. Specifically, in 2018 BBVA allocated more than €104 million to social programs benefiting eight million people.
18 Oct 2019
Each year the International Day Against Breast Cancer is celebrated on October 19. This date serves as a reminder of society’s commitment to fight the most malignant tumor that most frequently strikes the female population. BBVA supports this cause and has launched its “Bonds that Unite” campaign, allowing customers to make donations to the Spanish Association Against Cancer via Bizum. As an additional gesture of solidarity, the bank will illuminate a pink rose on its headquarter buildings in Madrid, Mexico City, and Lima.
Social entrepreneurship competitions are platforms that can give a leg up to entrepreneurs with a business idea and the hunger to grow. Of the competitions taking place in the upcoming months, there are some that are internationally renowned, standing out thanks to the prestige they have accrued over the years.
17 Oct 2019
Garanti BBVA joined 129 other banks from around the world in signing the United Nations Environment Program Finance Initiative (UNEP FI) Principles for Responsible Banking at the UN General Assembly in New York. The participating banks represent over $47 trillion in total assets. By signing these principles, Garanti BBVA and five other Turkish banks – ING, the Investment and Development Bank, Şekerbank, TSKB and Yapı Kredi – formalized their commitment to leading the way for sustainability in the country.
15 Oct 2019
BBVA completed its agenda of activities to commemorate “Financial Education Week”, held from October 7 to 11, taking part in the event `Financial Health in Spain : How to Improve It’, organized by Nantik Lum Foundation and JP Morgan. Speaking at the event, Lidia del Pozo, Director of Community Investment Programs BBVA, explained how BBVA’s strategy has evolved in the field of financial education, noting its profound relationship with financial health and emphasizing “the more than 13 million people have received financial education through BBVA since 2008.” and that “today, BBVA develops these programs across all population segments, primarily through digital channels.”
11 Oct 2019
They attend school, help their families, work, take care of their elders… Girls are an active part of society, but most are discriminated against due to their gender, and this inequality puts them at a disadvantage. October 11 has been marked as the International Day of the Girl to remind us all that, to build a better future, it is essential to support the development of girls and young women across the globe.
10 Oct 2019
Financial education takes center stage throughout the year with activities to take place around the globe. During these sessions, prestigious subject matter experts will share their knowledge at conferences, workshops, and classes. The agenda of events represents an unparalleled opportunity to learn about the world of finance.
“We need a massive change and digitalization can not only radically accelerate the pace at which we mobilize funds for sustainable development, but also improve the use of these funds by enabling a better management of their social impact,” explained BBVA Global Head of Responsible Business Antoni Ballabriga, during the European Banking Summit, held in Brussels on October 2 and 3.
08 Oct 2019
Climate change, the biodiversity crisis and inequality pose “the greatest sustainability challenges in the coming years,” according to BBVA Group executive chairman Carlos Torres Vila. “Addressing the most important challenges humanity has ever faced is in our hands, and the future will depend on what we do now. For banks, the future of banking lies in financing the future.” Given all of these challenges “companies cannot simply stand by,” he emphasized at an event held by the SERES Foundation in Madrid on Tuesday.
BBVA has named the winner of its newly created Open Talent Award for Sustainability as Australian last mile start-up AgUnity.
07 Oct 2019
BBVA recently completed its 49th investment in community development financial institutions (CDFIs), moving its total investment in the community catalysts to $100 million in the U.S. three months ahead of its five-year target.
October 7 marks the celebration of Financial Education Day, a day that aims to raise awareness about the importance of a good financial education. Throughout the week training and awareness-raising activities will be held around the world. BBVA participates in various activities and announces the second installment of EduFin Talks, taking place in Madrid on Tuesday, October 8.