Sponsored by Garanti BBVA, the Turkish technology company Kodluyoruz has developed Alchemist, a series of 15 podcasts on technology and artificial intelligence.

Over the course of the last decade, a number of global financial banks – including BBVA- have aligned with the recommendations on non-financial reporting and disclosures issued by different international organizations. Including, the Financial Stability Board and its recommendations through the Climate-Related Financial Disclosures Working Group (TCFD), the UN Environment Programme – Financie Initiative (UNEP FI), or the different national legislations . These suggestions are intended to help companies raise awareness about their environmental commitment by including and disclosing information on climate related risks and opportunities.

Both organizations have announced a global collaboration agreement to promote equality among girls and young people with a focus on female role-models. “We are convinced that we can curb the impact of gender stereotypes in a simple and effective way, by teaching girls about successful women that can help them become aware of all the opportunities within their reach”, said BBVA global head of Talent and Culture Carlos Casas.

The World Health Organization promotes Breast Cancer Day every October 19 to  raise awareness about the commitment of society as a whole to the fight against the most common form of cancer in women. For yet another year, BBVA is organizing a fundraising campaign via Bizum, the leading instant payments solution in Spain, to encourage customer donations in support of the Spanish Association Against Cancer. As an additional gesture of solidarity, this morning, the bank lit up its headquarter buildings in Madrid, La Vela, in pink.

The judge underlines that BBVA has contributed all relevant results for the preliminary investigation, accepts the bank’s offer to make documents available and dismisses all requests from other parties.

BBVA chairman gave the opening presentation at the national meeting of regional bank directors in Mexico today. This year, the meeting took place virtually, where the chairman reaffirmed the group’s commitment to the country. “Mexico will continue to play a fundamental role in our bank’s results thanks to our leading position and the strength of our business model in the country,” he said.

Garanti BBVA Leasing has consistently offered the best financial solutions. It is now moving to strengthen its solar energy service offering by signing a partnership agreement with Başarı Enerji, one of the leading companies in the sector.

Onur Genç participated this Monday in the 11th Financial Meeting, organized by KPMG and financial newspaper Expansión. In this forum, the BBVA CEO said that “our expectation is that the supervisor’s dividend restrictions will be lifted in 2021”.

This Friday, BBVA chairman Carlos Torres Vila participated in the Institute of International Finance’s (IIF) annual meeting, in which he underscored banks’ role in channeling investments from the Next Generation EU recovery plan. “Banks can play a key role in channeling and multiplying European public funds,” he noted.  “What is really important to ensure the most effective use of European funds is to increase the multiplier effect through the private sector, including the banks.” He also indicated that emerging markets could be the most interesting for sustainable investments. “What we need are mechanisms in carbon markets to channel the funds to these countries so that the impact over time is mitigated while promoting the development of poor societies,” he said.

The Women Entrepreneurs Meeting, organized by Garanti BBVA in collaboration with KAGİDER, the Turkish Women Entrepreneurs Association, has been held virtually for the first time. The event which brought together thousands of female entrepreneurs, was attended by Turkey’s Trade Minister, Ruhsar Pekcan, who came to show her support for one of the most important groups within the Turkish economy.

The teams will have 40 uninterrupted hours to solve one of the 12 programming challenges posed by BBVA.

BBVA remains committed to this global network, participating in a new pilot project with which it has managed to integrate payments from the SWIFT gpi network with the U.K.’s national instant payment system. Progress that makes it possible to break away from the time zone restrictions in the process, going one step further in the exploration of this kind of payment.

BBVA has launched Aqua, a new line of pioneering credit cards in Spain which feature a dynamic CVV code and do not contain card numbers (PAN) or expiration dates printed on them. This reinforces security both for its digital and physical versions since not having this data prevents possible fraudulent use of them. In addition, BBVA´s app has renewed the entire payment experience to make it easier for the customer to manage their expenses and order the services it offers based on their use. The bank is already working to launch this mobile experience in other countries.

BBVA Corporate & Investment Banking (CIB) has decided to boost its equities capability for corporate clients, issuers and institutional clients along two vectors: on one hand, developing its equity investment products factory and digital platforms for product distribution; and, on the other, expanding its ECM (Equity Capital Markets) execution capabilities through a strategic alliance with Oddo BHF, one of Europe’s leading equity research and distribution entities.

BBVA Asset Management has announced the 27 winning projects of the second round of awards granted by the BBVA Sustainable Future SRI fund. In total, the fund manager will donate more than one million euros to NGOs throughout Spain.

BBVA is partnering with technology companies to be closer to its clients, who are starting to turn to third party digital vendors to cover their financial needs. “We see these partnerships as a way of growing our customer base,” stated Carlos Torres Vila, Group Executive Chairman of BBVA, speaking at a virtual panel discussion with Marcelo Claure, CEO of Softbank, that took place on the last day of South Summit.

Garanti BBVA launches Bonus Diji, a rewards credit card that is extremely secure, as it does not include any numbers or codes that can be copied.

The role of banks in the financial crisis caused by the pandemic and their role in funneling resources and funds towards a green recovery where the two key takeaways from a panel presentation devoted to sustainability that took place at the South Summit event, which is taking place this week in Madrid. “Everything is changing. We are living in a very challenging time. We are living in a global pandemic situation and also in a global economic crisis at this moment after the pandemic, so, it’s time to act,” said Head of Global Innovation & Analytics at BBVA CIB (Corporate Investment Banking) and Global Sustainability Office Ricardo Laiseca.

BBVA’s educational project ‘Aprendemos juntos’ (We learn together) was launched on January 22, 2018 in collaboration with Spanish daily El País. Since then, it has met with one success after another. Over two and half years, more than 200 experts have worked on the ‘Aprendemos Juntos’ initiative, it has accumulated over one billion views, and it has brought together a community of four million people. On May 23rd of this year, ‘Aprendemos Juntos’ went one step further and premiered on the Spanish TV show ‘A mi yo adolescente’ (To My Teenage Self), a nine-episode series on TVE’s channel 2 that looks at what young people think about issues such as friendship, fear and love.

On the occasion of the United Nations’ 75th anniversary, Garanti BBVA signed the Declaration of Business Leaders, sealing its commitment towards creating a fairer, more sustainable and more inclusive world, as well as to take on current global challenges.

The COVID-19 pandemic has provoked a global disruption that has severely impacted the world’s health, as well as a multitude of aspects of economic and social life. Since the beginning, the scientific community has embarked on the complex, multidisciplinary challenge of looking for solutions to the various areas that have been affected.

Garanti BBVA is betting on technology and innovation to continue leading the payment system and credit card sector. Now customers can complete the credit card application and authorization process on Bonus’ website and start enjoying all of the benefits immediately.

Garanti BBVA earned three Stevie awards, the prestigious prize conferred to the most successful enterprises and executives from the international business community.

BBVA is a customer-centric global financial services group founded in 1857. The Group operates in more than 30 countries and has a strong leadership position in the Spanish market, is the largest financial institution in Mexico, it has leading franchises in South America and the Sunbelt Region of the United States. It is also the leading shareholder in Turkey’s Garanti BBVA.

In an interview with ‘La Linterna’ de COPE, BBVA’s Group Executive Chairman said that the EU funds to face the health crisis represent “a great opportunity”. In his opinion, if invested “productively in long-term growth and combined in combination with structural reforms”, they can help tackle key problems of the Spanish economy, such as structural unemployment. “We also need to invest in education, focusing on the world of the future: the digital world, the world of data and addressing the transition to a more sustainable world, socially and environmentally.”

BBVA has launched a new sustainability training program for the Group’s more than 125,000 employees around the world. It is the first major bank in the world to give mandatory sustainability training to all employees. The new training modules will be available from September 28, coinciding with the fifth anniversary of the United Nations Sustainable Development Goals (SDGs).

BBVA illuminated the main building at its company headquarters in Madrid—La Vela—to mark the fifth anniversary of the launching of the Sustainable Development Goals (SDGs). BBVA opted for the color blue of the United Nations flag to commemorate the date on which 193 countries adopted the 2030 Agenda at UN headquarters in New York.

Organized by Garanti BBVA, the Ekonomist magazine and the Turkish Association of Women Entrepreneurs (KAGIDER), the event marks the start of the process to present candidacies for this new edition.

In a presentation for investors organized by Bank of America (BoFA) and in which BBVA CEO took part this morning, BBVA raised the Group’s guidance for 2020, thanks mostly to an improvement in its business activity in Mexico. At Group level, recurring revenues in constant euros will grow in 2H20 compared to the previous half of the year thanks to a recovery in new retail loan production and focus on price management. Furthermore, BBVA expects to beat its expectations regarding cost reductions for 2020, and improves its cost of risk expectations for 2020, to a range between 1.5 and 1.6 percent in cumulative terms for the year, thanks to a better performance in Mexico. The Group plans to close 2020 with a fully-loaded CET1 capital ratio above the target range. BBVA’s intention is to resume dividend payments once the existing supervisory recommendation is eliminated and COVID-19 uncertainties dissipate.

Garanti BBVA was named the winner of a Gold Stevie Award in the “Best Annual Report” category for its 2019 Integrated Annual Report published under the tagline, “The Next Decade.” The Stevie International Business Awards is the only global awards program that recognizes well-known international companies and executives for their achievements.

Carlos Casas, Global Head of Talent and Culture at BBVA, was tasked with delivering the closing speech at the latest edition of Sondersland Fest, a virtual event that brought together in Madrid top talent experts to share their insights on the latest trends on this matter with the thousands of young professionals that participated. “We are currently living a key moment where industries that are experiencing powerful transformations, such as ours, must transmit to younger generations what it takes to build the talent that the market professionally demands,” explained Casas.

More than a third of the global banking industry has signed the Principles for Responsible Banking, which this month celebrates its one-year anniversary. This milestone demonstrates the sector’s commitment to sustainability and aligning its business activity to the promises made in the Paris Agreement and the UN’s Sustainable Development Goals.

Garanti BBVA Leasing continues to build on its support for renewable energy development. Most recently, the bank has signed a partnership agreement with Elin Enerji, one of Turkey’s most important energy companies

Today, international banks BBVA, BNP Paribas, ING, Société Générale and Standard Chartered (also known as ‘the Katowice Banks’) published a report on the application of the PACTA methodology, designed to steer their credit portfolios towards the objective of the Paris Climate Agreement. This report aims at helping banking peers to quickly understand and apply this methodology and thus publish comparable results.

Blue is a virtual assistant that uses various artificial intelligence tools to help BBVA customers use the mobile application to complete tasks as well get detailed, personalized information about their accounts. This is how it works.

The BBVA Garanti securities unit has received the Turkish Markets Capital Association’s Social Value award for its ground-breaking digital initiative, ‘A Different Race’ delivered together with the foundation for children with autism, Tohum Otizm Vakfı.

BBVA Mexico reports that it successfully concluded the issuing of $500 million of unsecured senior notes in international markets, with a five year maturity and an interest rate of 1.875 percent.

Speaking at IIF Digital Interchange meeting, BBVA Group Executive Chairman Carlos Torres Vila said that the lockdown as a result of the pandemic boosted pre-existing trends toward the adoption of new technologies, towards digital. In his opinion, digital inclusion suppports all types of inclusion: educational, social and economic. That is why society needs to make an effort to ensure that no one’s left behind. “I think what stands out is the need for a more sustainable and a more inclusive economy. For this, we need a policy and regulatory environment that fosters innovation,” he noted.

BBVA placed on Thursday a $2-billion issue of senior preferred debt filed with the U.S. SEC. The issue consists of two tranches, with a maturity of three and five years: The three-year tranche accounted for $1.2 billion, while the five-year one reached $800 million. Demand topped a maximum of $5 billion, with 210 orders, and the book closed with orders of $4.5 billion: $2.5 billion for the three-year tranche and $2 billion for the five-year tranche. Investors’ appetite allowed for the starting price to be set lower. The interest rate has been set at the U.S. Treasury rate plus 75 basis points spread for the three-year tranche (versus a starting spread of 100 bps) and a 100 bps spread for the five-year tranche (vs. a starting spread of 125 bps).

The Banker has named BBVA Best Transaction Bank in Latin America for second year in a row. The U.K. magazine, a Financial Times group publication, underscored the bank’s innovative approach in the region, which allowed customers to continue accessing the bank’s services seamlessly during the pandemic.

• BBVA invested €40.6 million in sustainable and social programs in Latin America in 2019
• In its 13 years of service, the BBVA Microfinance Foundation has helped more than five million people
• BBVA delivers innovative financial education programs in Mexico
• BBVA Argentina is the first private bank to launch a line of personal eco-loans
• BBVA in Colombia closes a line of green guarantees to build the Bogota metro
• In Peru, BBVA leads the way in using the Environmental Ministry’s carbon footprint tool
• Sustainable finance in the region: BBVA, breaking new ground with deals in the wholesale market

In order to bring relevant solutions to investors in solar energy projects, Garanti BBVA Leasing announced the signing of a partnership agreement with Elseroof Enerji and Heran Enerji, two leading companies in this sector.

The World Tourism Organization and the innovation hub Wakalua, working in collaboration with companies like BBVA, have launched a competition for startups in the world of tourism to find technological and innovative solutions that respond to the sector’s sustainability challenges.

BBVA and the Korean energy company, SK Innovation, have signed a working capital loan of €100 million to expand the company’s electric vehicle battery manufacturing facilities in Europe. This transaction is the first working capital loan certified by BBVA in Asia in compliance with its sustainable transaction banking framework.

BBVA Group Executive Chairman Carlos Torres Vila participated in the Plenary Session of the Spanish Chamber of Commerce, where he emphasized that the recovery in Spain may open up an opportunity to “quickly embrace” a more digital economy. For this, he considers that digitization should be a priority for businesses – especially SMEs – and any progress in this sense will greatly depend on public investments and the amplification effect derived from private initiatives. He also noted that “the role of banks has been pivotal, not only amplifying the impact of public money, but also aligning targets.”

The British Safety Council (BSC), one of the leading organizations in promoting occupational health and safety, has recognized BBVA’s Turkish unit for the occupational safety measures rolled out at its Pendik HQs, near Istanbul.

The world of work and professional environments are in the midst of a full blown transformation process, especially in the wake of the COVID-19 lockdown. According to Ophelie Richard, BBVA global head of Talent Acquisition, “the value of assigning workstations to specific individuals based on their hierarchy within the organization has been completely redefined.” And this, in her opinion, “opens up great opportunities, from hiring employees regardless of their geographic location to workstation virtualization.”

As part of its collaborative framework with Turkey’s Notary Association, Garanti BBVA has created the Safe Selling System for the buying and selling of second-hand vehicles. Thanks to this new system, Garanti BBVA customers will no longer need to bring the cash amount of the purchase with them and they will be able to complete the deal online or using their smartphone in a process that is simple, fast, and safe.

The Business Monitor of Corporate Reputation (MERCO) recognized BBVA Mexico for fourth year running as the country’s most reputable bank. The lender also took sixth place in the overall ranking of companies. In addition, BBVA Mexico vice president and CEO Eduardo Osuna Osuna took sixth in the list of ‘Mexico’s 100 Most Reputable Executives’ published by the same consultancy.

Through a proof of concept, BBVA and Spanish startup Multiverse have tried out and benchmarked different quantum technology platforms to solve a classic problem of finance: The optimization of investment portfolios with real market data. Thanks to this analysis, published in a scientific paper, the authors have elucidated new formulas that could help speed up this type of calculation, maximizing profitability and minimizing risk.

The bank launches a global program in order to contribute to its employees’ professional development, to promote the acquisition of new skills, and widen the network of contacts within the company. The initiative empowers mentors and mentees from across the Group’s footprint to connect, transforming the process into one that puts the employee in control of his or her own development.

BBVA Group will gradually roll out the next generation of wireless connection technology — WiFi 6 — across its corporate offices in Spain and Portugal. The bank thus becomes one of the first Spanish financial companies to adopt the technology, which will provide faster browsing speeds and greater coverage to complement 5G.

BBVA Garanti has become the first bank worldwide to complete integration of the new SWIFT GPI pre-validation service, an international money transfer service developed by SWIFT. Controlled testing of the service is ongoing.

The bank — which has committed to securing €100 billion in sustainable financing between 2018 and 2025 as part of its contribution in the fight against climate change — reached 40 percent of its sustainable financing target in June 2020. This figure includes transactions in green and social financing (62 percent of the total), social entrepreneurism and financial inclusion (13 percent), sustainable infrastructure and agribusiness (11 percent), and other sustainable sources (14 percent).

– INFOGRAPHIC: Here you can see the breakdown of the BBVA Commitment 2025

BBVA secures more than €40 billion in sustainable finance, supporting the fight against climate change. The bank — which has committed to securing €100 billion in sustainable financing between 2018 and 2025 as part of its contribution in the fight against climate change — reached 40 percent of its sustainable financing target in June 2020. This figure includes transactions in green and social financing (62 percent of the total), social entrepreneurism and financial inclusion (13 percent), sustainable infrastructure and agribusiness (11 percent), and other sustainable sources (14 percent).

Euromoney has named Garanti BBVA ‘Best Bank in Central and Western Europe in Sustainable Finance’. The bank is a known leader in sustainable development thanks to its innovative practices.

Within the framework of its Global Eco-efficiency Plan 2016-2020, BBVA recently signed an agreement in Argentina to buy electricity from wind farms, a clean source of electricity that uses wind turbines to transform wind energy into electric power.

CW Enerji, Europe’s largest solar power system manufacturer, has signed an agreement with Garanti BBVA Leasing, one of the industry’s leading leasing companies. As part of the framework agreement, tailored financial support will be offered to clients for the installation of solar-powered electric energy stations.

BBVA keeps making strides in its sustainability commitment. The bank, in coordination with Caixabank, has signed the first ever sustainable loan with a pharmaceutical company in Spain. The scheme is divided into three tranches: a long-term loan, a revolving line and a credit line for acquisitions, subject to a six-year maturity term.

Capital Finance International has recognized BBVA as ‘Best Sustainable Bank in Spain 2020’. The London-based publication highlights the bank’s sustainability and climate change-related initiatives, as well as the way the bank defines a roadmap with opportunities and obligations linked to the UN Sustainable Development Goals.

Internet sales have soared in recent months, resulting in growth in the ecommerce sector. But if new purchasing habits are to truly take root and survive in the post COVID-19 reality, businesses will have to carefully nurture the customer buying experience. Against this backdrop, artificial intelligence (AI) is not only a tool to help improve the user experience and increase customer satisfaction, it can also facilitate payment management and detect potential fraud.

British magazine, ‘The Banker,’ which is part of the Financial Times Group, has announced the results of its digital innovation in banking awards. BBVA emerged as the winner in both Europe and Latin America.

BBVA’s chief executive officer presented the media with 2020’s second quarter results. Onur Genç expects the bank to “certainly beat our capital target by the end of the year,” given that in June the bank had already hit the high end of its target range. He therefore believes that “in 2021, we will return to paying dividends,” as per recommendations the supervisory authority may make.

The BBVA Group earned €636 million in the first half of the year – more than double the results from January through March, excluding the impact of the goodwill adjustment in the U.S. This was possible thanks to the bank’s efforts to anticipate impairments related to the COVID-19 crisis in the first quarter of the year. In a highly complex context due to the pandemic, the BBVA Group has demonstrated the strength of its profit before provisions in the second quarter of 2020, with operating income up 17.6 percent year-on-year in constant euros. “We are facing this crisis from a position of strength, thanks to the resilience of our revenues, our diversified business model and our digital capabilities. Likewise, our solid capital generation stood out during the quarter,” said BBVA CEO Onur Genç.

Onur Genç, BBVA CEO:

Thanks to the bank’s efforts to anticipate impairments related to the COVID-19 in 1Q20, BBVA earned €636 million in the second quarter, doubling the underlying profit from the first quarter. This quarterly figure is on top of extraordinary provisions of €644 million due to the pandemic. In a complex environment, BBVA has once again demonstrated the strength of its operating income, which grew 17.6 percent at constant exchange rates, and its outstanding ability to generate capital. In the first half of the year, net attributable profit excluding one-offs was €928 million (-57.8 percent yoy in constant euros). Including the U.S. goodwill adjustment –recorded in 1Q20– the bank swung to a €-1.16 billion loss between January and June.

Turkey’s Garanti BBVA announced its financial results for the first half of the year. Based on the consolidated financials, the bank’s net income in the first six months of the year totaled TL 3.33 billion (approximately €407.61 million). Asset size reached TL 486.67 billion and the bank’s contribution to the economy through cash and non-cash loans was TL 367.14 billion. Actively managing the funding base, deposits continued to be the main source of funding, with 63 percent of assets funded through deposits. The total deposit base reached TL 306.88 billion with 11 percent growth in the first six months of the year. Preserving its strong capital position, the bank’s capital adequacy ratio stood at at 17.4 percent.* The bank’s ROAE (Return on Average Equity) was 13.1 percent and ROAA (Return on Average Assets) was 1.6 percent.

BBVA has granted CAF Development Bank of Latin America a $200 million loan that will finance CAF’s assistance programs designed to address the social and economic effects of the COVID-19 pandemic in Latin America. The negotiation and documentation of the loan were fast tracked in order to expedite support for the region.

BBVA’s Turkish unit has been recognized as the ‘Best Retail Bank’ in the country for six consecutive years. It has also been named ‘Europe’s Best Retail Bank’ for the third time.

How do cybercriminals think? What techniques do they use and how do they set up to implement them? What are their goals? There’s nothing better than putting yourself inside the bad guy’s mind so you will be ready to react. We tell you how these criminals behave.

BBVA is the first bank in Spain to allow zero-touch cash withdrawals from its ATMs, called ‘contactless ATMs’. This new way of accessing cash not only streamlines the process, it also provides additional protection to customers during times of pandemic.

Vestel Şirketler, a part of the Zorlu Group, is making progress in its sustainability strategy with Turkey’s first issuance of a green bond in Turkish Lira. With the issuance, the Group moves closer to fulfilling its strategy as integrated in its Smart Life 2030 initiative (Akıllı Hayat 2030).

Acceleration programmes, like Open Innovation from BBVA helping startups from the fintech ecosystem, are an opportunity to offer tailored support that helps entrepreneurs to refine their model, boost their growth and access investment. In the case of the BBVA programme, the project is bringing to a close nine months of workshops, mentoring and support. For the bank and entrepreneurs, the initiative has provided an opportunity to learn together.

The sixth generation of WiFi delivers faster connectivity, expands its reach, and supports a greater density of connected devices. This technology, which goes hand-in-hand with 5G, will facilitate the rollout of sensors for the Internet of Things (IoT) and the creation of immersive and augmented virtual reality experiences.

Many families are struggling under the economic impact of the pandemic, especially those affected by joblessness. Financial vulnerability refers to the ability of individuals or households to cope with a ‘shock’ that entails the loss of their main source of income.

“Hello, I’m Blue, the BBVA virtual assistant. What can I do for you today?” This is how the first virtual assistant developed entirely by BBVA introduces itself. The newly launched virtual assistant responds to more than 100 customer requests among the 800 features that are integrated in the BBVA app. This makes Blue the most comprehensive virtual assistant on the market. The new tool takes advantage of natural language processing (NPL) and machine learning, which facilitates both voice activated and text-based customer interaction with the app.

BBVA’s Center for Financial Education and Capability’s grant program has selected the financial education research projects that will receive financing this year. One of the novelties of this edition is that seven grants will be given this year, instead of five like in previous years. A total of 40 projects from 23 countries were presented.

True to its commitment to deliver the best services to its customers, BBVA has become the first financial institution in Spain to roll out a seamless 100% online account switching process that allows customers to bring their bank accounts from other banks to BBVA. In most cases the process can be completed without any additional paperwork. The ‘Cambio de banco (Switch Banks)’ digital tool automates all the steps involved in the account switching process, including the updating of all direct debit, credit, and billing arrangements and shutting down the old account, in a seamless process that saves users the need to visit any branches of the BBVA or their former bank’s networks.

The prestigious international magazine Euromoney named BBVA the best investment bank in Spain in 2020. The bank also received the title of the best bank in Latin America and repeated as the best bank for sustainable finance in the region. BBVA was also selected as the best bank in Argentina and Mexico.

BBVA was selected as the best bank in Latin America in 2020 by Euromoney magazine. It was also named the region’s best bank for sustainable finance for the second year in a row. The publication also recognized BBVA as the best bank in Mexico and Argentina.

The uncertainty triggered by COVID-19 has led to a rise in cyberattacks against individuals in Spain. BBVA has therefore hosted several webinars in recent months to offer practical advice to customers and non-customers and thus alert the general public to the risk of fraud on the Internet. During these online events, involving members of the BBVA Cybersecurity team, including Roberto Ortiz, Global Head of Security Culture and Training at BBVA (People Information Security), speakers addressed the need to educate, inform and raise awareness of cyber attacks to protect the identity and finances of network users.

A bond is a debt instrument that companies issue in capital markets to attract financing from institutional investors (for example, investment funds). Banks also issue debt: it is a way of obtaining funds that they later use to grant loans to their clients. Along with customer deposits, issuances are, for banks, an additional source of financing to carry out their activity.

Spain’s GDP could contract 11.5 percent in 2020 and grow seven percent in 2021, according to the latest ‘Spain Economic Outlook’ report, which was presented this Tuesday by Jorge Sicilia, Chief Economist at BBVA Group and Director of BBVA Research; Rafael Doménech, BBVA Research Head of Economic Analysis; and Miguel Cardoso, BBVA Research’s Chief Economist for Spain. The contraction that is expected in 2020 represents a downgrade from the previous report’s forecast, which estimated an eight percent drop in GDP this year. The downward revision is mainly due to the fact that lockdown measures were in place longer than anticipated and these restrictions had a greater impact on demand, like in other European countries. Still, the reduction in number of COVID-19 infections and the easing of restrictions has led to a strong recovery. The ambitious policy announcements in Europe and a significant fiscal stimulus in Spain reinforces the expectation that this trend will continue. Even so, the risks continue to tilt to the downside in a climate of continued heightened uncertainty.

Garanti BBVA Leasing and Smart Energy, one Turkey’s largest solar power project developers, sign a strategic alliance to offer financing to investors interested in this sector.

This partnership deal will let BBVA employees take an official master’s degree in Big Data, gain recognition as data scientists or achieve an industrial doctorate in data science. In addition, the agreement will enable students at Universidad de Navarra to carry out research alongside BBVA and even join the bank later on.

For the second time in a week, BBVA is tapping wholesale markets with a debt issue. In this case, it is a subordinated Tier 2 bond in pound sterling, with an 11-year maturity term and a six-year early amortization option. The issue closed raising £300 million at an initial coupon rate of UKT plus a spread of 315, the reference index for this type of issuance. On July 7, BBVA successfully completed the issuance of a €1 billion bond, the first green bond ever in AT1 format by a financial institution at international level.

Garanti BBVA Vice President İlker Kuruöz, together with Fatih Sarı, journalist and technology columnist, participated in 3T3, a program where they analyzed the pandemic’s impact on business.

BBVA successfully launched the first-ever green contingent convertible (CoCo) bond by a financial institution, worth €1 billion. The issue was oversubscribed by almost a factor of three, and the high-quality order book drew 225 orders. Strong interest from investors allowed the company to lower the yield from its initial guidance of 6.5 percent to 6 percent.

Álvaro Garrido has been safeguarding the integrity of BBVA’s assets for the past three years. In his role as Chief Security Officer (CSO), he’s responsible not only for the Group’s physical & digital security, but also for its fraud prevention efforts, an exceptionally broad range of duties for such a large company and, at the same time, a great professional challenge.

Today, a group of 16 major European banks from five countries (Belgium, France, Germany, the Netherlands and Spain) paved the way for the future launch of the European Payments Initiative (EPI).

The European Investment Bank (EIB) Group and BBVA are set to join forces to support Spanish small and medium-sized enterprises (SMEs) and mid-caps affected by the COVID-19 crisis, signing two agreements to provide total financing of €1.42 billion.

solarisBank, the German technology company with a banking license, has today announced a fresh €60 million investment injection to enable it to continue its growth plans.

In June, BBVA’s Group executive chairman held a round of meetings with the bank’s teams in Spain, Mexico, the U.S. and Turkey. At the meetings he went over the situation in each country and shared future challenges. “The pandemic will serve to accelerate our strategic priorities – digitization, data and sustainability – as well as the search for new ways of working,” he explained.

BBVA’s digital development strategy of the past several years is now strongly supporting the digital management of customers’ finances. The implementation of agile work methodologies, DevOps practices—coordination across different teams throughout software development—and a global perspective were key for digital solutions to provide value and become scalable among business units and countries. Thanks to BBVA’s commitment to technology and new ways of working, the bank was able to guarantee service quality, adapt its way of working—with 90% of employees working from home—and, at the same time, enhance its response capacity.

The British magazine presented BBVA’s Turkish franchise the award for ‘The best bank in Turkey in sustainable finance’ and ‘The best investment bank in Turkey’.

BBVA in Uruguay has launched its banking application for Apple Watch, another innovation that makes life easier for customers.

BBVA’s teams in Asia and Colombia secured this cross-border transaction, which will allow Asian client China Harbour Engineering Company Limited (CHEC) to build, operate and service line 1 of the Bogota subway. The landmark agreement will contribute to financing the largest infrastructure project in Colombia’s history, and is also the most ambitious cooperation project the country’s ever signed with China. The transaction is the first one certified by BBVA in Asia in compliance with its sustainable transactional banking framework.

Quality Funds, BBVA’s platform specialized in international funds, was named the best pan-European platform specialized in investment funds, according to the prestigious 2020 report by Platforum.

The process of choosing startups in open innovation is proving increasingly difficult in the face of the proliferation of emerging companies globally. BBVA has various scouting mechanisms, and to do this it takes into account factors such as the degree of maturity, whether the solution dovetails with the bank’s needs, and the entrepreneurial team’s passion.

BBVA’s unit in Turkey, national leader in innovative loan structuring, has agreed a ‘gender loan’ with four tourism businesses within the Limak Grubu consortium. The loan’s interest rates are indexed to criteria evaluating equal opportunities across the group’s entire workforce.

Beyond hastening the adoption of specific technologies – such as telemedicine or robotics – one of the brightest outcomes of the scenario brought about by the coronavirus pandemic has been the unprecedented collaborative spirit that has emerged, which could unleash deeper changes in technological development in the coming years. The challenges posed by the coronavirus aftermath may lead to increasing levels of data sharing and faster deployment of solutions to preserve privacy, which could help lay the foundation for new digital infrastructures.

BBVA’s unit in Switzerland, together with Urban Connect, will debut their corporate fleet of e-bikes to be shared among the bank’s Zurich-based employees.

The BBVA Center for Financial Education and Capability’s grant program for financial education researchers, BBVA EduFin Research Grants, continues to grow each year. Despite the crisis caused by the global pandemic, the call for applicants saw a greater geographic reach, making this year the most international yet. The overall number of applications also increased.

Garanti BBVA’s management team received first place in the 2019 Corporate Management Awards presented by the Turkish Union of Corporate Management (TKYD).

BBVA’s executive chairman joined CEO Onur Genç at the bank’s headquarters in Madrid to participate in an employee meeting where they reviewed lessons learned from the crisis and how the bank’s strategic priorities have proven their resilience in the face of the recent challenge. Carlos Torres Vila believes that, in the current context, BBVA’s purpose, strategy and values “are more relevant than ever.” Together with Ricardo Forcano, global head of Engineering and Organization, and Carlos Casas, head of Talent & Culture shared further details about the bank’s plans for Spain and Turkey where the pandemic statistics favor a return to the workplace.

CDP, the world’s leading environmental information platform, celebrates a decade in Turkey. Garanti BBVA is one of the platform’s key partners in the country. The organization recently held the ‘Turkish CDP Climate Leadership’ award conference to recognize the environmental efforts of the country’s businesses.

BBVA’s Group executive chairman underscored the urgency of reactivating the economy to prevent damage that could be irreversible – something we should do standing “united and with consensus.” At an event organized by the Spanish Federation of Businesses (CEOE), Carlos Torres Vila indicated that “private investment is crucial to a digital, data-based, social and sustainable future.”

Ebru Dildar Edin, Executive Vice President of Corporate and Investment Banking at Garanti BBVA participated in the seminar ‘The Changing Future of Work,’ where she emphasized the role sustainability will play in establishing a new, improved normal.

BBVA has now earmarked the €35 million donation it committed to support COVID-19 relief. The lion’s share of the funds (81 percent) were allocated to defend against the virus’ initial hit in medical centers and hospitals.

BBVA is the only Spanish bank to have signed a declaration calling for the need to include investing in renewable energy in the economic reconstruction plan proposed by the European Commission. It is one of the private sector’s latest calls to action to governments that are “committed to a green recovery, once the worst of the COVID-19 crisis is over.”

BBVA’s entire branch network in Spain is now operational after the bank reopened the last of the branches that had closed because of the COVID-19 health crisis. The branches will follow strict safety measures, and BBVA is relying on its appointment system—a service that was already available to customers but which is more important than ever—to encourage compliance with health guidelines and provide a better customer experience by cutting waiting times. BBVA Chairman Carlos Torres Vila visited a branch in Madrid to see how employees are handling this phase of the pandemic.

Francisco Herrera, Computer Science Professor at the University of Granada, is leading research that aims to diagnose COVID-19 in less than a second using chest x-rays. The project, which is in advanced stages, uses artificial intelligence as a tool to interpret biomedical images more effectively than the human brain. This technique would greatly help health clinics that do not have sophisticated diagnostic imaging systems.

How does BBVA manage the evolution of the pandemic across its footprint? After monitoring the news report began emerging earlier this year about a new virus, on March 9, the bank’s Corporate Continuity Committee decided to create a global war room, led by Ricardo Forcano and Carlos Casas, the heads of Engineering & Organization and Talent & Culture, respectively. War room is a military term that is increasingly used in the business world to describe a group of people who are totally dedicated to tackling a crisis, to make timely and agile decisions.

Twelve months ago, BBVA announced the worldwide unification of its brand and logo. A year later, the deployment of the new brand is well-entrenched across the Group’s footprint in both its physical and digital assets.

BBVA’s Turkish franchise has set the goal of reducing its carbon dioxide (CO2) emissions by 29 percent by 2025 and 71 percent by 2035. The announcement comes as part of the bank joining the Carbon Disclosure Project’s (CDP) Science-Based Targets (SBT), the most important environmental data platform in the world.

In its third year, the BBVA global ninja hackathon took place virtually for the first time. Local teams representing the digital talent community from seven of the bank’s operating countries participated in the event. Despite the separation by distance, more than 1,000 BBVA ninjas joined the initiative, helping their teams solve technological challenges created by Amazon Web Services (AWS). At this year’s event, U.S. team SQL Injection emerged as the global winner.

BBVA’s Turkish unit is on the frontlines in the fight against the coronavirus pandemic. Emergency field hospitals in Sancaktepe and at the Atatürk airport have received locally manufactured medical equipment.

BBVA Group executive chairman Carlos Torres Vila participated in this year’s virtual edition of South Summit, the leading fintech event, where he spoke about the challenges facing the banking sector and financial technology in a post-COVID-19 world. “If we are going to have a rapid recovery, the only way is with a model of sustainable and inclusive development,” he added. “Technology and data are the key ingredients, together with people –all of you entrepreneurs who produced ideas– to drive the sustainability agenda.”

June 15 marks the end of the submission phase of the third edition of BBVA EduFin Research Grants, the research grant program promoted by the BBVA Center for Financial Education and Capability to support the efforts of experts and researchers focusing in the field of financial education and inclusion. The program represents a unique opportunity to secure the level of funding and the visibility that many projects need to keep making progress.

Ricardo Forcano, the Global Head of Engineering and Organization at BBVA, participated in a digital meeting organized by the Association for Managerial Progress (APD) entitled ‘Innovation and culture for organizational growth’.  During the event, the director explained how the current situation can serve as an impetus to redesign work methods in organizations. He also explained that BBVA is using collective intelligence and data to face the current crisis.

In the summer of 2018, Pablo Martín sequestered himself for almost 100 days in a cabin in the Swiss municipality of Montricher. His purpose: to write ‘Memories of an Old Hardhead’. At the time he would never have imagined that the plot of his novel would so closely reflect the reality of 2020.

BBVA’s CEO sat down with Turkish news agency Anadolu to discuss the current scenario facing Turkey’s economy and banking system. Onur Genç expressed his optimism regarding Turkey’s progress at the economic level and considers that banks are in good shape to face this crisis. Digitization, in his opinion, will be key for banks in the current scenario. In this sense, he cited Garanti BBVA as an example of a digital leader, with almost nine million digital customers, eight million of whom are mobile.

Collaboration between banks and financial technology startups could be key for finding solutions in the new environment that the COVID-19 pandemic has brought about. The digital event ‘BBVA Open Talks Global: Fintech Post-Covid’ included how the innovation ecosystem is reacting in the various countries where BBVA is present. Where Spain is concerned, innovation has accelerated and there are already tech solutions on the table to build a post-pandemic future.

BBVA invested 77.6 million euros in knowledge, education and culture activities in 2019, about 68 percent of the Group’s social investments. These initiatives, carried out as part of BBVA’s Community Investment Plan, benefitted 7.2 million people.

BBVA and Mahou San Miguel, Spain’s leading producer of beer, have begun a collaboration that will roll out the bank’s digital professional development program (‘Ninja’), offering it to the beverage company’s employees.

BBVA placed a €1 billion  inaugural COVID-19 social bond on the market today, making it the first private financial institution in Europe to do so. Demand was close to €5 billion, nearly five times more than the initial offer. The funds will be primarily allocated to mitigating the severe economic and social impact caused directly and indirectly by the COVID-19 pandemic. The interest rate was set at 112 basis points over mid-swap, 33 basis points below the initial target price (145 bps over mid-swap).

On 26 and 27 May 2020 the European Innovation Council (EIC), BBVA and Ferrovial are jointly hosting their first online EIC Corporate Day, bringing together 19 of the most innovative startups in Europe. The online EIC Corporate Days are the digital version of the physical events in where the European Commission connects Europe’s most innovative companies and innovators with C-level corporate and cross sectorial decision makers.

Joaquín Dopazo is leading a project that uses a machine learning algorithm to identify proteins involved in the illness and cross match this information with a database of drugs used to treat other conditions. “We checked if some of the proteins detected are therapeutic targets of other medications approved for other uses, and we concluded that these treatments could act on the mechanisms that COVID-19 uses to cause harm,” says the researcher, who in 2018 won a BBVA Foundation team grant in the Big Data category.

Garanti BBVA has rolled over the syndicated loan it received from international markets under the framework of the foreign borrowing program and signed loan agreements totalling approximately $700 million. Both the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) participated in the deal.

BBVA has added a new feature to its financial aggregator One View. Using data analytics, it allows companies to find out the amount of greenhouse gases they emit into the atmosphere with their daily activities. At a time when SMEs and companies’ main concern is how to face the gradual lifting of lockdown restrictions during the health crisis, finding out their carbon footprint is the first step toward taking action that helps them to reduce their energy costs while having a positive impact on the planet. With this information, they can also explore new, more sustainable lines of business that will facilitate their recovery in a new context.

The lender and the property-owning real estate group strengthen their commitment to sustainability with the formalization of a €525 million green loan. The green loan is the conversion of a syndicated loan signed in 2016. BBVA, besides being one of the participants in the loan, is one of the sustainable coordinators who have made this change possible, to maximize the sustainability of Gmp’s office building development projects.

Ebru Dildar Edin, Vice President of Garanti BBVA, participated in a talk organized by Turkey’s Business Council for Sustainable Development (SKD Türkiye) to discuss the social challenges following the coronavirus pandemic.

The coronavirus crisis may lead to a series of changes forcing many companies to rethink their business models. Startups frequently depend on funding, and some may be critically impacted. Still, others may find themselves in a stronger position thanks to their capacity to adapt to the changing landscape or because they provide digital services that have proven invaluable. Could the coronavirus crisis set the stage for the next big startup?

Economies around the world have never experienced a halt in activity as drastic as the current economic standstill caused by COVID-19. The new normality, as the experts have coined it, has brought with it a feeling of global fellowship in which all countries are fighting together to overcome this difficult experience.

BBVA’s Turkish franchise has improved the landing page of its Garanti BBVA Mobile app with an improved design and new digital banking features.

Social bonds, as debt instruments that enable project financing with a positive social impact, have been gaining traction among issuers in recent years. In 2019, these kinds of issuances outpaced previous volume records, and issuance activity of this type will undoubtedly be driven by the COVID-19 pandemic in 2020. This is the view of analysts at BBVA Global Markets Research.

Falsehood, lie, fallacy, insidiousness, post-truth. There are a multitude of synonyms to refer to the term that continues to fill social networks and the media: ‘fake news’.

Laura Lechuga, research professor at Spain’s National Scientific Research Council (CSIC) and group leader in the Catalan Institute of Nanoscience and Nanotechnology (ICN2), is heading up the ambitious CoNVaT project. CoNVat aims to produce a rapid, inexpensive, and highly sensitive test for diagnosing COVID-19 from the first day of infection. “It won’t only indicate if the virus is present or not, but it will also reveal its concentration. This is important because it gives an idea about how  advanced the infection is,” she explains. The new test should be ready in less than a year, in time for future waves of the pandemic.

What does a company bring to society? What role does it play? Why does a brand exist? These questions can be answered in many ways, each answer hinting at the company’s “what for”, the reason that drives it and defines how it engages with society, its purpose.

BBVA now has more than 500,000 customers registered exclusively through digital channels in Spain: more than 50% did so via cellphone. In 2016, BBVA launched the option of becoming a customer using a ‘selfie’, boosting acquisition of new customers via digital channels. This service and the other alternatives that BBVA offers to users to become customers has become more important than ever after the outbreak of the pandemic and the state of emergency, which advises against travelling.

As part of BBVA’s Community Investment Plan, BBVA has allocated €9.8 million to entrepreneurship initiatives, benefiting 2.2 million people in 2019. It is therefore fulfilling its commitment to entrepreneurship as the driver of opportunities for people, creating a positive impact on their lives in all countries where BBVA has a presence.

The ‘RRSSalud’ project is researching the dynamics and types of fake news regarding coronavirus on social networks, thus helping to alleviate the negative effects of this health crisis. Coordinated by the researcher Ramón Salaverría, the initiative is part of the BBVA Foundation’s 2019 program to assist scientific research teams in economics and digital society. One of the first conclusions of the study has determined that one-third of current fake news stories refer to the health crisis contain health or scientific content.

BBVA in Switzerland has launched a new online platform in record time, targeting prospective customers who are interested in opening an account. They can now confirm their identity over a video call and digitally sign the contract required to open the account.

Dircom, the Spanish Association of Communication Executives, announced the names of the winners of this year’s edition of its Ramón de Corral Awards. BBVA took home two awards, one for ‘One BBVA’ named ‘Best integrated campaign for organizational change’ and the other with ‘El Sentido del Cacao’, named ‘Best external campaign for services’ category. Also, BBVA’s ‘Values ​​Day’ event was one of the finalists in the ‘Best in-house event involving over 500 workers’ category.

Between last week and this week, the bank will reopen an additional 250 branches, to coincide with Spain’s careful easing of confinement restrictions. BBVA has also initiated the gradual return to work for those employees who fulfill critical business functions. The health of the bank’s customers and staff is the fundamental factor guiding this process. In the next few days, 200 employees and external contractors will return to their posts in central services, and 1,300 staff will return to branch offices throughout Spain.

In many ways, the coronavirus crisis marks a turning point in human behavior. One of the lessons this pandemic is teaching us is the essential need to change the way we interact with nature. “We will open the door to new pandemics if we continue maintaining a toxic relationship with nature,” states the ecologist Pedro Jordano. For the secretary of the jury for the BBVA Foundation Frontiers of Knowledge in Ecology and Conservation Biology, biodiversity “works like a shock absorber”. If it is altered, “it leads to all kinds of problems,” like the spread of COVID-19.

BBVA’s financial education programs and initiatives have benefited 15.5 million people from 2008-2019, of which 13.1 million are children and youth. According to the PISA report on financial skills presented by the OECD today, Spanish youth have improved in these skills, but continue to be below average compared to the countries included in the analysis.

The BBVA’s Center for Financial Education and Capability has decided to extend the deadline for its call for research proposals until June 15th.

Analysts praised BBVA’s foresight as the group booked €1.43 billion in provisions during the first quarter to cover the expected impact of COVID-19 on its business. The Group’s capital ratio was another one of the quarter’s standouts.  The reports published by analysts also focused on BBVA’s strong top-line growth and the soundness of the messages conveyed by the bank’s management, particularly in connection with its expectations regarding provisions and capital generation.

Many people are taking advantage of their time in quarantine to brush up on their knowledge, and massive online open courses (MOOCs) provide a good alternative. In this article, we describe the major platforms for online education and what they have on offer, both for professional development as well as purely for the fun of learning.

BBVA has joined the manifiesto ‘Green Recovery. Reboot and reboost our economies for a sustainable future’, promoted by the Chair of the European Parliament Committee on the Environment, Pascal Canfin. This alliance defends a sustainable recovery from the coronavirus crisis, and is comprised of politicians, businesses, non-governmental organizations (NGOs) and unions, among others. “In order to tackle the challenge of a quick recovery, we should start with a more sustainable development model,” said BBVA Group executive chairman Carlos Torres Vila.

Artificial intelligence is contributing to fight the COVID-19 pandemic. Projects directly related to pharmacology, medical and hospital care, or mobility analysis to reduce contagion have found a crucial ally in data science to make progress and deliver results.

BBVA is partnering with the IMDEA Software Institute, which belongs to a network of international research centers in Madrid, on the development of advanced cryptographic techniques. This technology is key to the creation of data-based digital solutions that protect the privacy and security of users’ data.

Carlos Torres Vila, BBVA Group executive chairman and Onur Genç, BBVA CEO, presented the results for the first quarter of 2020 at an online press conference from their homes. Carlos Torres Vila stressed that now, “The most important thing is to look ahead and return to activity” to foster the economic recovery. This reopening should prioritize health, but “reactivate our productive network and employment.” In this sense, “everyone’s collaboration – governments, the private sector and society in general – will be fundamental to overcoming this crisis.” A recession that he predicts will last “for a limited time”.

BBVA’s recurring revenues (net interest income and net fees and commissions) grew strongly during the first quarter and the operating income was the highest of the past ten years. Also, the attributable profit absorbed the provisions established to anticipate the impact of the COVID-19 crisis. According to BBVA Group Executive Chairman Carlos Torres Vila, “the recurrence of our profits before provisions and our solid capital and liquidity position allow us to face the crisis from a position of strength and to front-load in this first quarter the provisions to hedge against the impact of the pandemic”.

Garanti BBVA’s posted a net income of 1.68 billion Turkish lira for the first quarter of the year. The bank’s total amount of assets stood at 456.17 billion Turkish lira, 65% of which are funded through deposits. Deposits grew by 7% percent in the first quarter, reaching 295.92 billion Turkish lira. The bank also contributed a total of 346.58 billion Turkish lira to the economy through cash and non-cash loans. Garanti BBVA’s capital adequacy ratio was 16.6%, with a return on average equity (ROAE) of 12.4% and a return on average assets (ROAA) of 1.5%.

BBVA posted a recurring profit of €1.26 billion in 1Q20 (+6.4 percent yoy), driven by the highest operating income in ten years (+14.1 percent), and boosted by a good performance of revenues and a containment in operating expenses. Following front-loaded provisions of €1.43 billion related to the COVID-19 crisis, BBVA earned €292 million in the first three months of the year. Including the goodwill adjustment at the U.S. unit, the bank registered a €1.79 billion loss in the quarter.

Carlos Torres Vila, Group Executive Chairman:

Egon Zehnder, a global consulting firm, is holding a round of digital meetings with CEOs of banks around the world to hear about their strategies to navigate the COVID-19 crisis and their insights into unprecedented situation. During a meeting held on April 4, BBVA CEO Onur Genç detailed the Group’s priorities in the face of the health emergency caused by COVID-19: safeguarding customer and employee health and continuing to deliver its services and supporting customers.

BBVA and Allianz have reached an agreement to create a bancassurance partnership, aimed at jointly boosting the non-life insurance business in Spain. The partnership brings together two strong and innovative global leaders with common strategic priorities. It also combines the expertise of industry partner Allianz, a leader in innovation and product development in bancassurance, with BBVA’s client knowledge and network distribution, offering customers products and solutions to improve their financial health and that of their businesses. The agreement, which is subject to the approval of regulatory authorities, is expected to generate a net profit of c. €300 million and c. 7 basis points on BBVA Group fully-loaded CET1 capital ratio, according to the initial price set at c. €277 million. Additionally, Allianz could pay up to €100 million more, depending on a series of goals.

“Recovery from the COVID-19 crisis should be green, inclusive, and resilient. The recovery is not at odds with sustainability; in fact, they should be aligned,” Antoni Ballabriga, BBVA’s Global Head of Responsible Business explained at a virtual meeting organized by Finnovating. José Manuel Marques, Head of the Financial Innovation Division at the Banco de España also participated in the forum.