Garanti BBVA has collaborated with the Turkish Industry and Business Association (TÜSİAD) by sponsoring the fifth ‘Understanding & Doing Business with China’ conference, recently held in Istanbul.
Corporate and investment banking focus its activity on financing the development of enterprises and corporations and catering to their investment needs. Wholesale clients – which can be anywhere from different-sized companies to financial institutions or institutional investors - require more sophisticated financial products, either because of their size or the nature of their activity. In this guide we take a look at eight basic concepts that will help you understand the fundamentals of this business.
Financial and commercial services
Garanti BBVA and Doğan Holding together break new ground in payments
Doğan Holding's subsidiary Suzuki Motor Vehicles Marketing Inc. became the first Turkish company to use Garanti BBVA's Global Payments product featuring SWIFT FileAct.
BBVA's Turkish unit builds on years of proven responsible banking and a commitment to the communities it serves by issuing a 5-year $50 million green bond.
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.
BBVA estimates potential negative goodwill adjustment of about $1.5 billion at its U.S. unit
According to current available data and profits forecasts, BBVA estimates a potential negative adjustment in the goodwill value at its U.S. business unit. This adjustment is mainly related to the evolution of U.S. interest rates and the economic slowdown in that country. The accounting adjustment has no impact on tangible net equity, capital, or liquidity of BBVA Group, nor on its ability to distribute dividends or the amount of the dividend payment, which will be proposed to the Board of Directors for its approval.
BBVA has appointed Peio Belausteguigoitia as head of BBVA Spain, replacing Cristina de Parias, who leaves her executive duties after a successful career of more than three decades both inside and outside BBVA. Cristina de Parias will remain involved with the Group as she will join the board of BBVA’s subsidiary in Mexico, once the necessary approvals have been obtained.
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.
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.
BBVA has participated in preparing the ‘Total tax contribution’ report, which analyzes tax contributions made last year by major European companies. The study, conducted by the European Business Tax Forum (EBTF), discloses the tax contributions made by large corporations and thus contributes to the promotion of transparency.