BBVA has issued a €750 million 10-year Tier-2 subordinated bond. A high demand of €4.25 billion – with 260 orders – exceeded by more than five times the bond value, making it possible to reduce the mid swap price +245 basis points, 30 basis points below the initial price. The order book closed in only three hours. The issue achieved the lowest 'spread' of a subordinated issue for BBVA since 2007.
BBVA published its annual compensation report for Board members today, which details how compensation is tied to the bank’s results. The Board also approved a new compensation policy for Board Members for 2019-2021. Both documents will be presented at the Annual General Meeting on March 15, 2019.
BBVA has once again made history, completing Portugal’s first sustainable commercial paper program with one of its strategic clients in the country, The Navigator. BBVA was the agent bank and bookrunner for the €65 million operation, advising the client throughout the entire process, and the sole source of financing for the operation.
BBVA’s commitment to technology has translated into an increase in the number of digital customers, which now represent more than 50% of the bank’s total customers, as well as climbing digital sales, now comprising 41% of all sales. But this digital journey means much more. Digitization has also contributed to greater customer satisfaction and a diminishing drop-out rate - 47% lower among digital customers.
BBVA Compass’s Treasury Management team realized significant milestones in 2018. Global Finance magazine, and the experts it surveyed, recently took notice as the publication named the bank as the Top Treasury and Cash Management Provider in the Southwest for 2019.
Garanti blazes a trail in the Turkish credit card market with the launch of Shop&Fly, a new product in the bank’s portfolio that makes life easier for its customers.