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Finance

Finance

Picture Francisco González, president of BBVA, and Ferit Sahenk, president of Garanti

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.

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.

Euromoney named BBVA as best bank in Latin America in the 2015 edition of its Awards for Excellence.  Euromoney acknowledges the bank’s successful evolution and solid business results in the region. In this edition, BBVA has also been recognized as the best bank in Peru and best bank in Paraguay. Regarding investment banking, BBVA has been chosen as best debt house in Spain.

Between 2011 and 2014, 700 million people opened a bank account. In the same period, the number of people outside the banking system fell by 20%, or 2 billion adults. In 2014, 62% of adults held an account, well above the 54% registered in 2011.