Thanks to initiatives by BBVA employees, the bank has donated 175 external cell phone batteries to the new IFEMA hospital and 210 blankets to the Alcalá de Henares hospital, both in Madrid.
BBVA’s has increased its initial €25 million commitment to €35 million to be used in to fight the coronavirus pandemic in the countries within its operating footprint. BBVA Group Executive Chairman Carlos Torres Vila recently explained that the bank must “step up” and use everything in its power and all its resources “to save lives, alleviate the economic impact, and help others overcome these difficult times.”
Financial services are key to helping citizen endure the social and economic impact of the COVID-19 crisis. BBVA firmly believes that banks are a powerful tool to guarantee the protection of the most vulnerable, relieve the financial burden of those suffering the most from this crisis, and provide sufficient financing for the subsequent economic recovery. For this reason, it has launched numerous initiatives around the world to protect its employees and society as a whole, and support customers during this period.
The Spanish Banking Association (AEB) welcome the implementation of the first €20 billion of a €100-billion government financing guarantee line, which is part of the banking industry’s commitment to guaranteeing the liquidity and credit required so that businesses and the self-employed can weather the challenges caused by the COVID-19 health crisis.
BBVA’s Turkish franchise is launching new measures to protect the health of employees, customers and society, while tackling the possible economic challenges generated in Turkey by coronavirus.
True to its commitment to customers and clients, shareholders and employees and in compliance with its fiscal transparency pledge, BBVA has released its Total Tax Contribution report, as it voluntarily does every year since 2011. BBVA’s fiscal strategy is aligned with the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and the UN Sustainable Development Goals and the protection of Human Rights.
The spread of coronavirus to several countries has led to a very charged reaction in the markets. The World Health Organization’s declaration of a global COVID-19 pandemic led to a number of immediate actions from the central banks and, concretely, the European Central Bank (ECB), as well as governments and other authorities in Europe. In a note, BBVA Research indicates that “the adoption of these measures is positive.” However, it feels that the monetary policy measures should be accompanied by a coordinated fiscal response from the European Union, which has already begun to materialize in Europe with similar stimulus plans between different countries.
With a newly updated version of Global Net Cash, BBVA takes another step forward in the digital transformation of banking for global businesses and institutions. In the current context, BBVA recommends more than ever the use of digital channels and joins the challenge #iwillstayathome. The bank is delivering important improvements to its online banking solution, incorporating new features that will provide users with easier, more intuitive access to data with a unique digital experience, and all this in real time.