Eduardo Ávila is one of those Cordovans without a discernible accent… until the high speed train reaches the Caliphal city station. We sit before him, ready to listen to someone who knows the tempestuous world of banking regulation like the back of his hand. Right from the start, it is clear he has a keen sense of humor.

He studied at the University College of Financial Studies (CUNEF) and holds a Master’s degree from the University of Reading (U.K.). He has worked for BBVA since 1992, starting as an intern in Argentaria. Since then, he left Spain to continue his professional growth in BBVA in Portugal, Peru and Mexico.

Married with three children, he enjoys his family and biking. An avid reader, books pile up on his night stand because of “the amount of materials you have to review nowadays to stay up to date.”

He vacations in the south, in his childhood hometown of Cordoba, with the exception of the few days he spends in Rota, Cadiz.

He reviews the recent changes in financial regulation with us, how BBVA deals with these changes and how the bank complies with very different regulations in so many countries.

The myth of unicorns started in Europe, but new technology companies worth more than $1 billion continue to exist to this day. Of the 160 unicorns in the world, only 16 are from Europe, compared to 88 from the U.S. and 40 from China. Here’s the story of five of these mythological companies that are reinventing the European economy.

The Payment Services Directive (PSD2), which came into force last January 13, entails fundamental changes in the payment industry and aims to promote competition, innovation and security. A two-year phase began on that date that will culminate in its transposition into national law in 2018, when third-party payment providers (TPP) will be given access to client accounts.

Sovereign Wealth Funds are state-owned investment vehicles that control a portfolio consisting of national and international financial assets. The capital that these institutions manage is essential for the economies as it allows them to mitigate economic shocks; safeguard the wealth of future generations; make key investments for the country’s development; pay pensions; or maximize the profitability of a percentage of the country’s international reserves – generally the surplus over the level deemed optimal - which are usually managed following a capital preservation approach.

BBVA posted a net attributable profit of €709 million in the first quarter of 2016, down 53.8% from the same period a year earlier. Quarterly results were hindered by a number of factors, including the impact of exchange rates, lower results from NTI and the lack of corporate operations. BBVA CEO Carlos Torres Vila indicated that results will continue to grow gradually throughout 2016. Below you can find the most relevant data of the quarter:

BBVA presented its first-quarter results today. CEO Carlos Torres Vila noted that BBVA stands out in this quarter for “its strong capital position, recurring revenue growth, the contribution of emerging markets and lower impairment losses in Spain.” This trend, together with the seasonal effect of the banking business in some places (where activity is lower in the first part of the year) indicates that the results will increase gradually throughout 2016.