Between last week and this week, the bank will reopen an additional 250 branches, to coincide with Spain's careful easing of confinement restrictions. BBVA has also initiated the gradual return to work for those employees who fulfill critical business functions. The health of the bank’s customers and staff is the fundamental factor guiding this process. In the next few days, 200 employees and external contractors will return to their posts in central services, and 1,300 staff will return to branch offices throughout Spain.

Over recent years open banking has become synonymous with the digitalization and transformation of the financial sector. New regulation has been one of the major drivers, starting in Europe before quickly spreading around the world.

Garanti BBVA’s posted a net income of 1.68 billion Turkish lira for the first quarter of the year. The bank’s total amount of assets stood at 456.17 billion Turkish lira, 65% of which are funded through deposits. Deposits grew by 7% percent in the first quarter, reaching 295.92 billion Turkish lira. The bank also contributed a total of 346.58 billion Turkish lira to the economy through cash and non-cash loans. Garanti BBVA’s capital adequacy ratio was 16.6%, with a return on average equity (ROAE) of 12.4% and a return on average assets (ROAA) of 1.5%.

BBVA and Allianz have reached an agreement to create a bancassurance partnership, aimed at jointly boosting the non-life insurance business in Spain. The partnership brings together two strong and innovative global leaders with common strategic priorities. It also combines the expertise of industry partner Allianz, a leader in innovation and product development in bancassurance, with BBVA’s client knowledge and network distribution, offering customers products and solutions to improve their financial health and that of their businesses. The agreement, which is subject to the approval of regulatory authorities, is expected to generate a net profit of c. €300 million and c. 7 basis points on BBVA Group fully-loaded CET1 capital ratio, according to the initial price set at c. €277 million. Additionally, Allianz could pay up to €100 million more, depending on a series of goals.

In order to emerge from the COVID-19 crisis as soon as possible, it is important to adopt measures designed to preserve jobs, especially for SMEs and the self- employed, said BBVA’s Group executive chairman. At this point, “We need to put ourselves in the position of the self employed and business owners,” Carlos Torres Vila said Monday night in an interview with Spanish radio station COPE. In this regard, he stressed the role of banks to help these business endeavors overcome the crisis.