Garanti Bank CEO Fuat Erbil said the turkish bank’s performance last year far exceeded expectations and looks forward to extending that success this year. “Last year was much more positive than expected, both for the country, the sector and Garanti,” Fuat Erbil told journalists in a recent meeting. “As witnessed by the positive outlook for key indicators and investor interest, 2017 was a successful year for Turkey. The banking sector’s performance excelled expectations as domestic demand increased and economic activity as a whole expanded”.
BBVA today announced its strategy around climate change and sustainable development, Pledge 2025. The strategy will help the bank meet the United Nations Sustainable Development Goals and is in line with the Paris Agreement on Climate Change. Pledge 2025 will help the bank align its activity to a 2ºC Scenario and strike a balance between sustainable energy and fossil fuel investments and is based on three lines of action: financing, management and engagement.
Digital identity is the online version of an individual’s physical identity. It consists of all of the individual´s personal data that is available online —not just an email or physical address, but also pictures, banking info, shopping preferences. This identity is not uniform, as we share different attributes in different platforms. In other words, we don’t share the same type of information on LinkedIn and Facebook, for example.
On Tuesday, BBVA entered the markets with a €1.5 billion issue of Senior Non-Preferred Debt (SNP) with a five-year term and a Floating Rate Note format. Thanks to strong investor demand, the issue closed with a coupon of three-month Euribor plus 52 basis points. The operation was the lowest-priced issue of senior non-preferred debt by a Spanish issuer.
BBVA has marked a new milestone in the sustainable finance business with the closing of the first global transaction in the insurance sector. MAPFRE has transformed its syndicated credit facility for 1 billion euros into sustainable finance with the cooperation of BBVA, which acted as Sustainable Agent in the transaction.
A report by Standard and Poor’s Global (S&P) analyzes the potential impact on the financial sector of the entry of tech giants such as Google, Apple, Facebook and Amazon. Although no immediate changes to bank ratings is foreseen, the report points out that in the long term these companies are well placed to get a position in segments of the chain such as payment systems.
The headlines about the U.S. dollar this year have underscored how complicated it is to predict the movement of any one currency in a global economy. They’ve gone from grim (“Dollar set for worst January in 30 years”) to triumphant (“Dollar claws back”) to deflated (“Dollar’s rebound fizzles”) in a matter of weeks.
Unique Experiences is a special program of BBVA in Switzerland, by which clients can access a wide range of experiences and services carefully selected to help them enjoy life and their patrimony. The program encompasses a range of areas such as lifestyle, health, education, innovation, culture and entertainment. It also seeks to bring clients closer to Switzerland, a country whose living standards have put it in the top positions in the rankings of quality of life around the world.
On January 31st, the European Banking Authority (EBA) announced the formal launch of this year’s EU-wide stress test exercise of the euro area. It also unveiled the macroeconomic scenarios under which the exercise will be carried out. The adverse scenario implies a deviation of EU GDP from its baseline level by 8.3% in 2020, resulting in the most severe scenario to date. The EBA expects to publish the results of the exercise by 2 November 2018