BBVA’s legal representative Adolfo Fraguas today concluded the bank’s declaration before the Central Investigating Court number 6 of the Spanish National High Court. As he did in the previous declarations (November 20 and 28), Fraguas responded extensively to all questions posed, and once again pleaded that the bank bears no responsibility for the facts under investigation.
Investment in growth in the European Union is less now than it was before the last financial crisis, despite the many modern-day challenges: the digital revolution, climate change, an aging population, migration, to name a few. José Manuel González-Páramo discussed this issue at the Rome Investment Forum held in the Italian capital. The BBVA executive board member stressed that long term investment capacity in Europe should focus on two crucial challenges: adapting to a more sustainable growth model and investing in strategic digital capabilities.
Beachbox Hotelco has become the first company in Spain’s hospitality sector to sign a sustainable project finance loan to finance the construction of the Six Senses Ibiza hotel. BBVA served as sustainable coordinator in the €55 million syndicated loan for the financing of the project. BBVA and Caixabank will each contribute 50 percent of the funds.
The global economy is in the mature phase of the cycle, with an outlook for growth below potential in most countries. However, the rise in stock exchanges in 2020 should be largely due to valuation and, to a lesser extent, profit. "For the first time in recent years we see more potential in the European stock exchanges than in the S&P 500," said Joaquín García Huerga, head of Global Strategy at BBVA Asset Management, during the presentation of "Market Vision 2020."
BBVA CEO Onur Genç stated that: “Today, more than ever, banks play an important role in addressing the sustainability challenge.” In his opinion, “Only banks can play a central role in distributing the resources, which is a key part of the climate change challenge.” The executive made these remarks at the 15th IESE Banking Industry.
BBVA launches ESIConnect, a new platform for portfolio, securities and fund service in order to give coverage to investment firms and their customers in the framework of the advisory and discretionary portfolio management services the investment firms provide them.
BBVA’s Executive Board Member, José Manuel González-Páramo, discussed the current status and outlook for the global economy at the 24th S'Agaró Economic Symposium. His main message was that: “The deceleration of the global economy seems to be stabilizing", with growth close to its potential. He therefore ruled out the “risk of recession”, which “is not the base scenario in the short-term.”