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Finance

Finance

Since landing in the United States in 2004, BBVA has heralded the impending arrival of banking’s digital revolution, even as it boldly proclaimed that it would lead the industry as it transformed.

Just 14 years later, the proclamations have come true, and recently reported numbers show the bank’s own transformation in countries around the globe is proceeding as planned. The bank’s subsidiary in the U.S. – BBVA Compass – is playing an increasingly outsize role in that transformation, with digital at the forefront of its own strategy for profitable growth.

Garanti Bank is recognized internationally with its practices in gender equality and once again included in the Bloomberg Gender Equality Index. Through its numerous practices and initiatives for ensuring gender equality within its human resources as well as its activities directed to customers and the community, Garanti is the only company to be included in the index from Turkey.

  • Good results: In 2017, the BBVA Group posted a net attributable profit of €3.52 billion (+1.3%). Excluding the accounting adjustment of Telefónica and the capital gains from extraordinary corporate operations, net profit in 2017 was €4.29 billion, up 23.3% from a year earlier. The main drivers behind this result were a positive performance of recurring revenue, cost containment efforts in operating expenses and an effective risk management strategy
  • Group Executive Chairman: Total remuneration of BBVA Executive Chairman for 2017 was €5.8 million, up 18% from 2016. The Chairman’s variable compensation rose 12% compared to the previous year. The deferred variable remuneration is subject to multi-annual indicators, based on which remuneration can be reduced or taken to zero, never increased. It also includes a Malus clause that could limit or prevent its collection, and clawback clauses intended to reduce or reclaim already paid amounts
  • CEO: Carlos Torres Vila’s total remuneration was €4.9 million in 2017. HIs variable compensation is also subject to the same deferral period and conditions as that of the Chairman

BBVA will propose the appointment of Jaime Caruana, Ana Peralta and Jan Verplancke as independent board members at its Annual General Meeting. With these new additions, BBVA will strengthen the board’s financial and technological capabilities. It will consist of 15 members, the majority of whom will be independent.