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Finance

Finance

S&P changed its outlook for BBVA’s long-term rating (BBB+) from stable to positive. The agency once again highlighted the Group’s strong financial profile, resilient profitability levels and solid capital position.

On April 4 the new €50 note will enter into circulation. This new note, presented on July 5, 2016 by the European Central Bank will be phased in gradually and will coexist with the preceding model, which will remain legal tender. Thus, the ECB completes another step in the rollout of the Europa series, and follows the €5, €10 and €20 notes, which have already been issued. Reinhold Gerstetter, independent banknote designer was selected to refresh the design of the notes.

BBVA on April 3 announced the successful placement of €1.5 billion five-year preferred senior debt with a floating coupon rate. High demand, about €3.25 billion, allowed the price to be cut to very competitive levels, without an issue premium. The order book closed in just two hours, drawing 260 international investors

Last year BBVA Group paid €3.76 billion in taxes on its global operations, 25.15% more than in 2015. Its global tax contribution (counting own taxes and third party taxes it manages) stood at €9.44 billion. For fifth consecutive year, BBVA is voluntarily releasing its tax contribution, in line with its corporate transparency principle and its social responsibility commitment.

The ECB has published its annual report on the supervisory activities appointed to it by the Single Supervisory Mechanism. Key achievements in 2016: effectively addressing the non-performing loan (NPL) issue, the improvement the solvency of the euro area banking sector and the further harmonisation of banking supervision in the euro area. In the spotlight for 2017: new challenges, like the new scenario for European banks after Brexit and fintech-related risks.