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.

In recent weeks, BBVA has been recognized for its efforts in fiscal transparency at events, on rankings, and in reports from different fields: the consulting firm PwC, the Dow Jones Sustainability Index and the NGO Intermon Oxfam. These recognitions are the result of the bank’s commitment to customers, shareholders and employees, which are reflected every year in the publication of its global fiscal contribution report. 

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.

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.

BBVA has agreed to sell to PNC its subsidiary in the U.S. for $11.6 billion (€9.7 billion¹) in cash, an amount that represents 19.7 times the unit’s 2019 earnings², and that is almost 50% of BBVA’s current market capitalization, creating significant value for shareholders. The transaction will have a positive impact on BBVA’s fully loaded CET1 ratio of c.300 basis points, or €8.5 billion of CET1 generation.