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.
BBVA has reached an agreement to purchase Tree Inversiones Inmobiliarias SOCIMI from Merlin Properties. The company has 665 offices rented to BBVA. These offices that currently belong to Merlin are part of the package that BBVA sold to Tree Inversiones in 2009-2019 under a sale and lease back contract.
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.
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.
BBVA will resume today, March 16, 2022, the execution of its share buyback program. After completing a €1.5 billion initial tranche, it will continue with an additional amount of up to €1 billion, to be executed in the next two to three months. Following its completion, BBVA will proceed with additional buybacks of up to a maximum of €1 billion, thus completing its share buyback program for a maximum of €3.5 billion, one of the largest among European banks to date.
BBVA is rolling out its innovative Quantitative Investment Strategies (QIS) product line for investors in South America, focused on the design, manufacture and distribution of investment strategies that materialize in proprietary indices. In March, Peru will become the first country to incorporate these innovative strategies into local investment products. Colombia and Chile will follow.
Garanti BBVA recently published its 2021 Integrated Annual Report entitled ‘How Does a Bank Create Value?’ Covering both the bank’s activities throughout the year and its economic indicators, the aim of the report is to serve as an example and an inspiration, inviting all of the Garanti BBVA’s stakeholders to turn words into action.
Starting Jan 1, 2022, BBVA must meet a volume of own funds and eligible liabilities (MREL) of 21.46 percent, or 24.72 percent including the requirement of combined capital buffers in terms of its risk-weighted assets (RWAs). As of December 31, 2021, the bank already complied with this requirement, reaching 28.24 percent, as well as with the subordination requirement.