To calculate a bank's relative productivity, the market uses what is called an efficiency ratio. This indicator calculates the income earned for the expenses required to achieve said income over a given period of time. An institution's efficiency ratio, expressed as a percentage, is the result of the ratio between operating expenses and the gross margin. For example, if the efficiency ratio is 60% it means that to earn 100 euro, an institution needs to spend 60. Therefore, the lower the percentage, the more efficient the institution.

BBVA’s Turkish unit has approved financing worth TL400 million to support Enerjisa Enerji’s ongoing infrastructure and distribution network investments. Enerjisa is a major player in the country’s energy distribution market, with Sabanci Holding and E.ON as its main shareholders.

The B20 - or “G20 for businesses” - is a forum of private international companies that provides recommendations to the G20 to address the most relevant challenges of the global economic and financial agenda. This year, Saudi Arabia will preside over the meeting. BBVA has played a very active role in the B20 since 2015, thanks to BBVA Executive Board Member José Manuel González-Páramo, who serves as Vice Chair of the Finance and Infrastructure Task Force.

Dillan Knudson has taken somewhat of a circuitous route throughout his career in the financial industry - and beyond - leading to his recent appointment as BBVA Houston CEO.

The new year kicked-off with a deluge of corporate issuances. Last week Europe’s bond market had its biggest week ever, with sales of new bonds totaling over €90 billion. Financial institutions accounted for approximately half of the total (€43 billion). BBVA issued two bonds that were warmly welcomed by investors.

Today, BBVA placed €1 billion of Tier 2 subordinated debt on the market. The debt, maturing on January 16, 2030 has an interest rate of mid-swap plus 127 basis points, 28 basis points below the initial interest rate (mid-swap plus 155 points) and a 1% coupon. Demand for the issuance reached €4.2 billion, exceeding the opening offer by four times.