International trade plays an essential role in our everyday lives: in both developed countries and emerging markets, a large part of the products and services result — either partially or totally — from commercial dealings with other countries.
The previous year has come to a close, and with it comes reflection on what 2018 brought. However, a look forward to 2019 can also have its advantages.
BBVA has developed a sustainable transactional product framework linked to the UN Sustainable Development Goals (SGD), for qualifying its clients’ transactional banking operations as green, social or sustainable. This industry-first methodology has been reviewed by and obtained a favorable opinion from sustainability ratings agency Vigeo Eiris, and is making its market debut with a transaction by Siemens Gamesa Renewable Energy, a BBVA strategic client.
Several initiatives were launched in 2018 that will lead to new legislative developments – primarily related to the implementation of the Basel framework and the completion of two major European projects: the Banking Union and the Capital Markets Union. These are some of the regulatory trends for 2019 that BBVA Research principal economist María Victoria Santillana explores in an op-ed published in the newspaper, Expansión.
Global banks face six major challenges when tackling their anti-money laundering efforts: their international footprint, supervisory pressure, maximizing efficiency and effectiveness, leveraging technology, recognizing specialized talent and raising awareness among society about how important it is that everybody collaborates with financial institutions.
The definition of “green loans” has been further refined with the most recent revision of the Green Loan Principles. Revolving credit facilities, which have popularly been recognized as sustainable loans, can also be considered green if they qualify with at least one eligible category over the course of the their life.
Under a borrowing program framework, Garanti Bank has received in excess of $1.3 billion in financing from international markets. The funding, as stipulated by the program framework, will be provided under two separate financing contracts and over four different tranches with 367-day, 2-year-and-one-day, and 7-year term loans.
BBVA Compass has appointed banking industry veteran Heather Sanchez as its new Ontario City President, where she will lead the market’s commercial banking operations and manage the local advisory board.
Francisco González is a self-made man obsessed with two things: technology and ethics/values. His greatest passion is playing golf. He likes to speak frankly, with “frankly” being one of the words he uses most commonly because he “greatly appreciates the courage of those who speak their mind.” He’s proud of the independence that has defined his managerial style – “you can either keep your distance, or you can steer your company into a series of commitments that have nothing to do with the interests of the shareholders, the customers, the employees or the company at large”, he has said on occasion.