Public and private issuers and investors came together at the 10th edition of BBVA’s Latin America Conference, a forum where they were able to identify business opportunities and share their vision of economic development, the social and geopolitical impact of COVID-19 and the ESG outlook in the region. This annual event, which was held virtually, had record-breaking attendance with nearly 1,000 professionals from over 400 institutions and 39 countries.

John Rutherford, the Global Head of Public Affairs at BBVA, chairs the Chamber of Commerce's new European Affairs Committee, which has been set up to make the European Union's recovery plans accessible to Spanish companies. The Committee, which comprises more than 25 major companies and institutions, was unveiled in the presence of Josep Borrell, the EU's High Representative of the Union for Foreign Affairs and Security Policy.

BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today net income of $385 million for the first quarter of 2021 compared to net income of $334 million in the fourth quarter of 2020 and net loss of $2.2 billion in the first quarter of 2020.  Return on average assets and return on average tangible equity(1) for the first quarter of 2021 were 1.49 percent and 16.57 percent, respectively.

The BBVA Group obtained a net attributable profit of €1.21 billion in the first quarter of 2021 - a figure that shows a return to levels prior to the outbreak of the COVID pandemic. These results were achieved thanks to strong recurring revenue - despite the complex environment - and lower impairments and provisions compared to those made in the first quarter of 2020 in anticipation of the crisis. “In the first quarter of 2021, we produced positive results in an environment that continues to be very challenging. In a context of profound change in our sector, we continue to move forward in key areas of our strategy: sustainability and digital transformation,” said Onur Genç, CEO of BBVA.

The BBVA Group earned €1.21 billion in 1Q21, in line with quarterly earnings prior to the pandemic. In the year ago period, BBVA posted a €1.79 billion loss when it recorded a goodwill adjustment in its U.S. subsidiary and higher impairments. This quarter’s result was driven by strong recurring revenue and lower impairments and provisions than in 1Q20. Thanks to these earnings, BBVA generated 15 basis points of capital in the January-March period.

BBVA’s goal is to make the opportunities of this new era available to everyone. Being connected and having operational capabilities from anywhere in the world is more important than ever given the circumstances. The correspondent banking team, also known as International Financial Institutions (IFI), is a key part of this endeavor.

Just as every year since 2012, BBVA has voluntarily released its Global Tax Contribution report. In 2020, the Group carried out an additional exercise of transparency including, for the first time ever, non-financial public information in standard GRI 207. This standard allows entities to disclose comparable information regarding their fiscal strategy, governance model and tax risk management, as well as their contribution on a per country basis. Overall, BBVA Group’s worldwide tax contribution in 2020 amounted to €8.33 billion.

BBVA shareholders backed the possibility of redeeming up to 10 percent of the bank’s share capital, equivalent to 667 million shares, with 99.6 percent of the votes at the Annual General Meeting (AGM) held in Bilbao today. This item on the agenda aims to be able to implement a relevant share buyback, as means of distribution to shareholders.

The Shareholders' General Meeting (also known as the Annual General Meeting or AGM) is one of a company’s primary corporate governance vehicles. During the Meeting, the company’s owners (the shareholders) ratify decisions on topics determined by law and by the corporate bylaws. The AGM includes particular features that are established by corporate law.