BBVA earned €1.32 billion between October and December, its highest quarterly result over the past two years. In 2020 BBVA helped three million clients affected by the pandemic, with about €63 billion in government-backed credit lines and loan deferrals. The sale of the U.S. subsidiary will provide some €8.5 billion in capital to grow in a profitable way across its footprint and increase shareholder distributions. BBVA will make a gross cash payment of €0.059 per share against 2020 earnings, and expects to resume its shareholder distribution policy in 2021 with a payout of 35-40 percent of profits. Additionally, the bank is targeting a buyback of about 10 percent of the Group’s shares, after the close of the sale of the U.S. franchise. All this subject to market conditions and the required approvals.

BBVA has selected the Chilean bank Bci as its ally in Chile to provide payment and collection services, also known as cash management. Thanks to this alliance, BBVA's global clients with a presence in Chile will be able to carry out this transaction with BCI through BBVA's global channels.

BBVA’s CEO was interviewed by a university publication where he did his MBA, Carnegie Mellon University (Pittsburgh, Pennsylvania, U.S.). Onur Genç shares his view of leadership and the importance of teamwork. “In my view, there are three main aspects that define good leaders: entrepreneurship, empowerment and accountability,” he says.

In 2020, BBVA took a step forward to protect its employees and support its customers and society as a whole, to cope with the COVID-19 crisis. In a year marked by the virus, the bank has launched initiatives across the world to alleviate the financial burden of those worst hit by the pandemic and provide funding for the economic recovery.

Carlos Torres Vila sat down for an interview during which he went over the key milestones achieved and lessons learned in 2020, and shared his insights into BBVA’s plans for the new year, in a context of health and economic uncertainty. “We face 2021 with an unparalleled position of strength to invest in growth and to increase shareholder distributions,” he said.

Garanti BBVA offers its clients an advanced long-term currency transaction service through its Forward product, available on its website's business section.