BBVA has placed €1.75 billion in a 3.5-year senior preferred debt issue, maturing in November 2025. The high demand made the issuance of two tranches possible, one with a fixed coupon, of which 1.25 billion was placed, and the other at a variable rate, with a placement of 500 million.

BBVA CEO Onur Genç stated that “BBVA has a competitive advantage” in the context of digital acceleration resulting from the COVID-19 pandemic. “Digitization boosts our business,” he said during his presentation at the 17th Banking Industry Meeting organized by IESE in Madrid. In March 2022, BBVA added 90,000 new customers in Spain - the largest monthly figures in its history. Over half (52.25 percent) of these customers reached the bank through digital channels.

BBVA posted a net attributable profit of €1.65 billion in the first quarter of 2022 (+36.4 percent yoy at current exchange rates, +41 percent in constant euros), on the back of revenue growth, bolstered by solid activity (+10.6 percent), and improved risk indicators. Between January and March 2022, the Group reported its highest operating income and the highest recurring profit ever. Furthermore, it saw extraordinary progress in the execution of its strategy, with a record quarter in customer acquisition and sustainable financing. The efficiency ratio improved significantly, reaching 40.7 percent, and in terms of profitability, ROTE and ROE improved to 15.9 percent and 15.1 percent, respectively. BBVA maintains a solid capital position, with a fully-loaded CET1 ratio of 12.70 percent.

BBVA's Board of Directors has agreed to increase the price offered for each share of the 50.15 percent of Garanti BBVA, from the initially announced (12.20 Turkish lira) to 15 Turkish lira.

International guarantees, also known as “bank guarantees,” “guarantee bonds,” or “standby letters of credit,” are a key tool for companies that operate internationally, as they ensure that economic obligations will be properly performed. Under this instrument, the guarantor expresses a willingness to fulfill the commitments of the principal obligor facing a third party if the principal fails to do so.

Carlos Torres Vila, Chair

• Ukraine: ”The Russian invasion of Ukraine represents an enormous human tragedy.”  “There is no doubt that the war will increase inflation and will negatively impact growth”
• Strength: BBVA has great capacity to continue growing and to take advantage of the opportunities provided by the two major trends that are defining the future: innovation and sustainability
• Shareholders distributions: The total amount could reach up to €5.5 billion, taking into account the highest cash dividend per share of the past ten years, €0.31 per share, and the €3.5 billion share buyback program underway.

Onur Genç, CEO

• Results: We have posted “the highest recurring profit of the past 10 years.” The Group’s excellent earnings “are the result of a superb performance in all of our countries.”
• Goals: “We have set some very ambitious goals that show our commitment to profitable growth and value creation for shareholders”
• Team: “None of this would be possible without the best team. Everything we have achieved and our future successes are and will be thanks to the people that make up BBVA”

On Friday, BBVA is holding its Annual General Meeting at Bilbao’s Euskalduna Conference Center. Before going over the figures from 2021, Chair Carlos Torres Vila spoke of the invasion of Ukraine, which above all, represents an “enormous human tragedy.” In that regard, he said that beyond its immediate impact, this war “will have structural consequences on the global economy,” conditioning international relationships in all areas. “We are facing a new world order,” he added.