The Allianz and BBVA bancassurance joint venture is now one of the largest home insurance companies in Spain, with more than one million insured households and €276 million in premiums for this range of insurance products.
BBVA reported a total tax payment in 2022 of €10,948 million (+33 percent vs. 2021) across all the countries in which it operates, of which €5,023 million (+65 percent) were its own taxes and €5,925 million (+14 percent) were third-party taxes. This was the highest tax payment ever recorded by the Group, in line with its earnings performance during the past year. In Spain, BBVA generated a total tax contribution of €2,759 million, of which €1,326 million consisted of its own taxes (+42 percent).
During his presentation at the Wake Up, Spain!, event, BBVA Chair, Carlos Torres Vila, stated that the European banking sector, and more specifically Spanish banks, are facing the current situation of uncertainty from a position of unquestionable financial strength, profitability and a very solid capital and liquidity position. He added that BBVA is facing this moment with confidence, and from a strong position due to the very characteristics of its diversified, profitable business model and its cautious risk management.
BBVA supported Spanish companies with €28.1 billion earmarked for their global expansion in 2022, 27 percent more than in the previous year. Growth was driven by both finance and guarantee products and services for expansion into foreign markets, alongside solutions to mitigate the risks involved in international business. The bank also offers digital tools and support services that help companies in their day-to-day international operations, thereby aiding their growth in overseas markets.
BBVA offers parents the opportunity to use the bank's website or smartphone app to open a commission-free account for their kids as soon as they are born.
On Monday, March 20th, BBVA will start to execute its €422 million share buyback program after receiving the authorization of the European Central Bank.
The BBVA Annual Shareholder meeting will be held in Bilbao next Friday, March 13. The shareholder 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’s AGM will be held on March 17th in Bilbao.
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) filed on March 6, 2023 with the Securities and Exchange Commission BBVA´s Annual Report on Form 20-F for the year ended December 31, 2022.
The Annual Report can be found on BBVA’s Investor Relations website http://shareholdersandinvestors.bbva.com in the section dedicated to Financial information 2022.