Finance
Finance
BBVA's Turkish unit renews its syndicated loan in international markets as part of its international debt program.
Movistar Money will offer consumer loans to Telefónica customers in Colombia, both individuals and companies. The deal could expand to other countries in South America where both companies have a presence. The company plans to begin operations in the second quarter of 2021 following a successful commercial pilot carried out by BBVA and Telefónica several months ago.
Greenwich Associates has once again recognized BBVA USA, this time commending its customer experience in two major banking categories in its 2020 Greenwich CX Leaders list announced last week.
Following the relevant event released on November 16, 2020, BBVA announces on another relevant event filed with Spanish regulator CNMV that the conversations in relation to a potential merger transaction with Banco de Sabadell have come to an end without any agreement.
Edward Corcoran, from BBVA's Digital Regulation team, reflects in this op-ed on the new roadmap for the platform economy in the European Union. "The EU has been at the forefront of the debate on the implications of the growth of the digital economy and its importance to firms and consumers alike. It now has the opportunity to introduce new rules that ensure markets remain fair and create the opportunities for all participants to thrive", he says.
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Edward Corcoran
The sale of the U.S. subsidiary is “an extraordinary agreement” for everyone, as it “creates enormous value for shareholders and gives us a wide range of strategic options,” BBVA CEO Onur Genç said during his presentation this Wednesday at the 27th Financial Sector Meeting organized by Deloitte, Spanish daily ABC and Sociedad de Tasación. In this regard, he noted that “we will only participate in operations that create value for shareholders.” “We aren’t in a rush,” he added.
News of the sale of the US subsidiary to PNC strongly boosted BBVA's stock market performance. The market warmly received the deal with a rise in the stock price of 15.3% at close on November 16, the third highest in the bank's stock market history and a new record in outperformance by the European banking sector: the Dow Jones index for US banks scored just 3.3% in the session, 12 percentage points behind.