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Finance

Finance

BBVA wins ‘silver’ mention in the ‘Best online report 2014,’ in the International/Unlisted (in the London stock exchange) category in this year’s edition of the ‘The Corporate & Financial Awards’. This report also received an ARC Award and was shortlisted for the Digital Impact Awards.

BBVA more than doubled its net attributable profit in the first half compared to the same period a year earlier, totaling €2.76 billion (+107.7%). Without including the results from corporate operations (CNCB and Catalunya Banc), net income grew 52.9% year-over-year between January and June to €2.03 billion thanks to strong recurring banking revenues.

BBVA earned €1.33 billion in the first half of 2014, 53.9% less than in the year-earlier period, due to the absence of corporate operations. Without including such operations, net income from ongoing operations rose 11.7% to €1.54 billion. For the second quarter in a row, the Group’s NPA ratio fell. Net entries to NPAs from the banking business in Spain were negative in the second quarter.

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.