Saving lives and preventing the collapse of intensive care units (ICUs). That is the priority for Spanish hospitals (and those around the world) during the peak of the COVID-19 pandemic. A recent report by the Gregorio Marañón University Hospital in Madrid, which analyzed one of the non-invasive ventilators from China (Yuwell 730), concludes that “its use is expected to delay or even prevent the need to transfer patients to the ICU, and therefore help to relieve their saturation.”
Older people with limited knowledge about the digital world are especially vulnerable to Internet fraud. The frequency of these attacks has risen notably during COVID-19 social distancing, a time when hackers are taking advantage of the dramatic increase of user time online and the vulnerability of certain groups of people.
April 7th is World Health Day, and this year the World Health Organization has decided to call special attention to the essential role of nurses and midwives. Amid a world pandemic with incalculable consequences for humankind, the invaluable contribution these roles play is as apparent as ever.
06 Apr 2020
BBVA USA today announced its commitment of more than $3.7 million to support organizations that are providing community support in response to the coronavirus pandemic. The funds are earmarked for a combination of community support, including a distribution of $1 million in rapid response funding.
Lending institutions belonging to the Spanish Banking Association (AEB) and the Spanish Federation of Savings Banks (CECA) are joining forces to announce a new voluntary measure to help mortgage customers affected by the COVID-19 outbreak, according to a statement from both entities. People with a mortgage on their first home who are affected economically by the coronavirus outbreak may apply for a deferral of up to 12 months in the capital repayment. Likewise, principal repayments on personal consumer loans are to be deferred for up to six months. This means that these customers will only pay the interests on the mortgage loan, which will reduce considerably the amount they were paying until now.
Thanks to initiatives by BBVA employees, the bank has donated 175 external cell phone batteries to the new IFEMA hospital and 210 blankets to the Alcalá de Henares hospital, both in Madrid.
Transactionality in databases is fundamental for critical systems, but the historical asymmetry between reads (massive) and writes (specific, but can impact in the middle of a read operation) could be solved with a new approach. Last year Databricks released to the community a new data persistence format built on Write-Once Read-Many (HDFS, S3, Blob storage) and based on Apache Parquet.
03 Apr 2020
BBVA’s has increased its initial €25 million commitment to €35 million to be used in to fight the coronavirus pandemic in the countries within its operating footprint. BBVA Group Executive Chairman Carlos Torres Vila recently explained that the bank must “step up” and use everything in its power and all its resources “to save lives, alleviate the economic impact, and help others overcome these difficult times.”
The appropriate design of a product can help reduce its environmental impact and make it last longer. More and more companies are turning to materials that are more durable and easier to recycle. One of the key aspects of product creation is predicting the possible repairs owner may have to make.
In the last few weeks the international community has called on the innovation ecosystem to band together in a coordinated fight against the coronavirus pandemic. A large number of initiatives have risen to the occasion, encompassing schemes that support startups, developers that propose technical solutions, and requests for institutions to share their data with the scientific community. These projects share a single goal: to combine forces, creativity, and resources in the fight against the virus and its far-reaching effects.
Reducing inequality, one of the key points in the UN’s SDG agenda (SDG stands for Sustainable Development Goals), has become an even more pressing issue in the midst of the coronavirus crisis, which is deepening existing social divides across the globe. María José Roa, researcher, teacher, member of the INFE/OECD Research Committee and winner of the BBVA EduFin Grants 2019, analyzes the root causes and the impact of these inequalities and the role of financial education to reduce them in Latin America.
02 Apr 2020
Organized by the economic magazines, ‘Capital’ and ‘Ekonomist,’ CEO Club Summit is the premier business event in Turkey, and for the first time, it was held virtually as a precaution against COVID-19. Garanti BBVA CEO Recep Bastug was on hand to participate.
Noam Chomsky is one of the frequently cited intellectuals in history. Considered the founder of modern linguistics, he has written numerous essays that made their way around the world. In the field of linguistics, he introduced the ‘Chomsky hierarchy’, generative grammar and the ‘universal grammar’ theory.
The coronavirus crisis has lead to a situation of instability and uncertainty in the markets. For investors, it’s time to keep a cool head and consult reliable, updated sources of information. On the other hand, people who would like to learn to invest while at home these days, have many different kinds of quality educational resources just a click away.
01 Apr 2020
On Tuesday March 31st, health care supplies to be used in the fight against the coronavirus pandemic arrived at the Zaragoza airport in northern Spain. The supplies represent a portion of the material that BBVA has secured as a donation for Spain’s health care authorities. The consignment, coming from China, consists of 753 ventilators with an additional 700 surgical masks to be used with the ventilators. A flight carrying additional equipment purchased by the bank also landed in Barcelona on Saturday, with 260 ventilators. The rest of the bank’s donated equipment is expected to arrive shortly. This is the first delivery from BBVA’s committed €35 million in the fight against the virus in all countries where it operates.
“The effects of the pandemic are devastating. Along with the irreparable loss of human life, both the virus and social confinement are contributing to a severe economic dilemma that cuts across society, including such susceptible segments like SMEs and the self-employed. At BBVA, we want to be as close to our customers as possible. Mitigating the socioeconomic impact of the coronavirus pandemic is crucial,” explained Lidia del Pozo, Director of Community Investment Programs at BBVA. During a webinar entitled ‘Responsible Banking during the COVID-19 Crisis,’ organized by the United Nations Environment Programme Finance Initiative (UNEP FI), representatives from financial institutions from around the world shared their strategies for addressing the pandemic and its impact on society.
The European Commission has published its taxonomy for sustainable finance, a classification instrument to help financial players and companies determine which activities qualify as sustainable. Investments in projects and activities that pursue the European Union’s environmental goals contribute to the transition towards a low carbon economy.
Financial services are key to helping citizen endure the social and economic impact of the COVID-19 crisis. BBVA firmly believes that banks are a powerful tool to guarantee the protection of the most vulnerable, relieve the financial burden of those suffering the most from this crisis, and provide sufficient financing for the subsequent economic recovery. For this reason, it has launched numerous initiatives around the world to protect its employees and society as a whole, and support customers during this period.
BBVA Foundation recognizes the Estonian composer with the Frontiers of Knowledge Award in the Category of Music and Opera for cultivating an original language, which has led to the creation of a unique sound world. In its citation, the jury underscores that Arvo Pärt’s creations are “a fresh approach to spiritual music, especially in his choral oeuvre, that reduces the musical material to the essence.”
Rob Brown, BBVA’s Chief Marketing Officer and head of Design and Responsible Business, shares his experience on working remotely during the redesign of BBVA’s brand last year. He explains how telework can help enable a global mindset, and how the most important element is to always stay connected as a team.
31 Mar 2020
According to the publication released from BBVA Research, When will the U.S. economy recover from the infection?, the experience of countries that have transitioned beyond the worst phase of the pandemic suggest that the number of coronavirus cases in the U.S. could peak in the spring or early summer.
BBVA Momentum, BBVA’s program in support of social entrepreneurship, is proud of its participant entrepreneurs who consistently demonstrate their ability to innovate under the most difficult of circumstances. The coronavirus crisis is no exception. A number of the Momentum program’s Spanish startup graduates have put the full weight of their ingenuity and resources into providing workable solutions to improve people’s lives.
In an attempt to capitalize on coronavirus fears, scammers are launching new phishing campaigns with false tips against the virus or links to purchase personal protective equipment to spread their malware among victims or steal their personal information.
30 Mar 2020
As developments with COVID-19 continue to evolve, so does our approach to conducting business safely. At BBVA, we are taking a number of proactive steps to help ensure your access to banking services, while protecting the health and safety of you and our employees. During this difficult time, we have implemented measures, announced offers and provided resources to minimize the impact on you and your banking needs.
BBVA’s Group executive chairman said that the bank has to “step up and make a difference” to do everything in its power to “save lives, mitigate the economic impact, and help others overcome these difficult times.” Carlos Torres Vila also announced that as an act of responsibility with society, customers and clients, shareholders and employees in the current context, “Those of us running the bank on a global level and in the different countries have decided to give up all variable compensation in the year 2020.” In a video made for employees, he maintained that BBVA is facing the COVID-19 crisis from a position of strength.
BBVA Group is staying ahead of the crisis with a global remote working plan that protects customers and employees alike. It has also ensured continued, uninterrupted operations for both consumer and business customers by strengthening digital access to its full suite of services. To contain the spread of COVID-19, BBVA has significantly reduced the number of employees working in its branch offices.
Garanti BBVA has put 10 million Turkish lira (approximately €1.4 million) into a fund to support public hospitals as they contend with the coronavirus pandemic. The money has been earmarked to address the most urgent needs of health care workers.
27 Mar 2020
Small businesses across the country are having to modify their business operations to stay afloat in the middle of the COVID-19 pandemic. During trying times when unemployment numbers are at historic highs, digital resources have become increasingly necessary.
26 Mar 2020
Matthieu grew up surrounded by ideas and figures from French intellectual circles. He first time traveling was to India in 1967. He obtained a PhD in Molecular Biology at the Instituto Pasteur under the sponsorship of Nobel Laureate in Physiology or Medicine François Jacob.
Researchers, businesses, and innovators around the world are putting technology to work to alleviate the effects of the global health crisis. From applications that collect data to track the spread of the virus to 3D printed ventilators for hospitals: these are some of the various technology projects rising to the occasion in the fight against coronavirus.
BBVA has launched a campaign for employees to do their part to help fight the COVID-19 pandemic. Employees who wish to do so, can join this cause through the campaign ‘Your contribution is worth double’ in which the bank will contribute an additional euro for every euro donated by employees.
25 Mar 2020
BBVA USA is providing additional assistance across its footprint to those who have been negatively impacted by the COVID-19 outbreak, including new offers for consumers and small businesses, and specialized benefits for employees.
The Group is to donate €25 million to combat the coronavirus outbreak across its footprint. This week, BBVA will deliver an initial batch of medical equipment, respirators and surgical masks, worth approximately €3 million to Spanish health officials.
One of the paradoxical consequences of the global crisis triggered by the COVID-19 is its impact on the environment. The quarantine is causing sharp declines in pollutant emissions across the world’s most populated cities.
24 Mar 2020
The Spanish Banking Association (AEB) welcome the implementation of the first €20 billion of a €100-billion government financing guarantee line, which is part of the banking industry’s commitment to guaranteeing the liquidity and credit required so that businesses and the self-employed can weather the challenges caused by the COVID-19 health crisis.
BBVA’s Turkish franchise is launching new measures to protect the health of employees, customers and society, while tackling the possible economic challenges generated in Turkey by coronavirus.
BBVA is lighting its corporate headquarters in Madrid as a symbol of its support for the professionals who are fighting day in and day out against coronavirus.
True to its commitment to customers and clients, shareholders and employees and in compliance with its fiscal transparency pledge, BBVA has released its Total Tax Contribution report, as it voluntarily does every year since 2011. BBVA’s fiscal strategy is aligned with the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and the UN Sustainable Development Goals and the protection of Human Rights.
Given the climate of uncertainty created by the rapid expansion of COVID-19, the respiratory disease caused by the novel coronavirus, it is becoming increasingly relevant to recognize reliable information and avoid spreading online. These are some of the tips provided by UNESCO to achieve this.
23 Mar 2020
Spanish banks are to provide a deferral of up to three months on rent payments for families affected by the coronavirus and living in dwellings belonging to the Spanish Social Housing Fund. This fund was created in 2013 and includes more than 10,000 dwellings in Spain that are the property of lending institutions.
Garanti BBVA, BBVA’s Turkish unit, has implemented a series of proactive measures to address the coronavirus pandemic, currently affecting 176 countries in the world. Garanti BBVA considers the health of its employees’, their families’, and society at large as its most important priority.
Dr. Antoni Trilla, Head of the Preventive Medicine and Epidemiology Unit at Hospital Clinic of Barcelona, volunteered to hold a videoconference with BBVA’s employees in order to answer some of the most frequently asked questions about coronavirus: Can someone who is asymptomatic transmit the virus? Can it be transmitted through contact with pets? How long will the preventive measures last? Is it dangerous to take ibuprofen if you have coronavirus? When will there be a vaccine? Hospital Clinic of Barcelona has compiled all the information available on COVID-19 and in a project undertaken together with the BBVA Foundation, has made it available in a dedicated portal, PortalCLÍNIC.
2020 is a crucial year for women and girls, everywhere. We celebrate the twenty-fifth anniversary of the Fourth World Conference on Women and adoption of the Beijing Declaration and Platform for Action. It also marks the five-year milestone of the adoption of the Sustainable Development Goals. This year’s 64th Commission on the Status of Women (CSW) was deemed to be the big commemoration and opportunity to reaffirm these mandates. There are still significant and pervasive gender gaps in the economic and political participation of women all over the world. Progress is sluggish and if we are serious about achieving the 2030 Agenda we must step up the pace.
20 Mar 2020
While the pandemic created by the novel COVID-19 develops and sends Americans down an unprecedented path, fraudsters are jumping at the chance to capitalize on that uncertainty.
The spread of coronavirus to several countries has led to a very charged reaction in the markets. The World Health Organization’s declaration of a global COVID-19 pandemic led to a number of immediate actions from the central banks and, concretely, the European Central Bank (ECB), as well as governments and other authorities in Europe. In a note, BBVA Research indicates that “the adoption of these measures is positive.” However, it feels that the monetary policy measures should be accompanied by a coordinated fiscal response from the European Union, which has already begun to materialize in Europe with similar stimulus plans between different countries.
Garanti BBVA’s ‘Instant Insurance at the Branch’ campaign has been recognized with a Bronze Stevie award in the category of ‘Sales Enablement Solutions’. This accolade recognizes the bank’s efforts to develop car loan products and improve customer experience.
BBVA USA today announced that it would be closing most of its 637 branch lobbies and instead serving customers through its drive-thrus as a proactive measure to protect the health and well-being of customers, employees and communities, as well as do its part to limit the spread of the coronavirus COVID-19.
19 Mar 2020
The BBVA Foundation Frontiers of Knowledge Award in Economics, Finance and Management has gone in this twelfth edition to Philippe Aghion and Peter Howitt for their fundamental contributions to the study of innovation, technical change, and competition policy. The joint research of these two economists builds on Joseph Schumpeter’s idea that productivity growth at the macroeconomic level stems from a process of creative destruction in which the continuous entry of new firms and technologies renders the incumbents obsolete.
With a newly updated version of Global Net Cash, BBVA takes another step forward in the digital transformation of banking for global businesses and institutions. In the current context, BBVA recommends more than ever the use of digital channels and joins the challenge #iwillstayathome. The bank is delivering important improvements to its online banking solution, incorporating new features that will provide users with easier, more intuitive access to data with a unique digital experience, and all this in real time.
Propel Venture Partners, the independent venture capital fund backed by BBVA, is celebrating its fourth anniversary of business this year. In this interview, Propel Partner Jay Reinemann, explains in the entity’s journey in these years and what are its next challenges. “The fintech sector is only going to expand and innovate faster and faster,” says Reinemann. “It’s a great time to be working in this industry.”
March has traditionally been the month of financial education, with major events like Global Money Week. However, the postponement of this event due to the coronavirus crisis has made online education take the lead in order to keep the spirit of these days dedicated to financial education.
18 Mar 2020
The health crisis caused by the advance of coronavirus in Spain has put businesses and employees to the test. Recommendations and restrictive measures put in place by the government have all but brought commuting to a standstill. BBVA has adopted these measures in record time thanks to the protocols established in its continuity plans and its commitment to flexible work schemes, which has allowed the bank to continue providing the best service while ensuring the health of both its employees and customers and clients.
BBVA considers protecting the health of its customers and employees a priority, following the state of emergency declared in Spain due to coronavirus. For this reason, the bank recommends that customers do their banking on digital channels (the bbva.es website, the mobile app). Specifically, the bank’s app makes it possible to bank remotely easily and with total security, and offers an array of tools to help customers control their expenses and personal finances effectively. It is no surprise that for the third year in a row, Forrester Research named it the world’s best mobile banking app in 2019.
BBVA’s Turkish unit has launched the latest round of its Garanti BBVA Partners Acceleration Program, an initiative that seeks to nurture the entrepreneurial spirit and support local small business people.
17 Mar 2020
The Spanish Banking Association (AEB) supports the economic measures announced today by the Government amidst the coronavirus outbreak in order to avoid a production drop and to back employment. The AEB also expresses its complete disposition to facilitate their implementation and thus mitigate the impact of this crisis on families and businesses.
BBVA USA is offering special assistance to consumer and small business customers impacted by the ongoing COVID-19 pandemic, including penalty-free withdrawals from applicable CDs, ATM fee refunds, and payment deferrals, extensions and waivers on existing loans and lines of credit, among other offers.
BBVA continues taking security measures to stop the spread of the COVID-19 virus in Spain. Starting this Tuesday, the bank is operating its branches with 20 percent of its workforce, guaranteeing service in all municipalities where it has a presence. This measures aims to protect the health of customers and employees, following the recommendations of healthcare authorities.
March 18 marks the start of the application period of this year’s edition of BBVA EduFin Research Grants, a program organized by the BBVA Center for Financial Education and Capabilities. The international call for grants invites candidates to submit their research proposals focusing on a range of topics related to financial education across the world.
16 Mar 2020
It is the first international sustainable supply chain finance line (a product also known as confirming or reverse factoring) set up by Acciona, a leader in providing sustainable solutions for infrastructure and renewable energy projects. The €15 million line will be used to streamline payments to suppliers in the ‘Ness Energy Project’, a waste-to-power plant in Scotland. As a result, a total of 25 European suppliers will benefit from the early collection of the receivables they issue in consideration for services rendered to this infrastructure.
‘No one left behind’ in the fourth industrial revolution: this is the commitment made by various international organizations including the United Nations and the International Labour Organization. The United Nations 2030 Agenda for Sustainable Development commits to the principles of universality and equality, two fundamental ideas that should be redefined in the context of the digital revolution. How can these principles be ensured in the midst of the profound change produced by technological progress?
The BBVA Momentum 2019 closing event took place on March 3rd at the Impact hub in Madrid. It set the scene for putting a face and name to the most promising entrepreneurs of this season’s Momentum program. Their business pitches highlighted the potential of their growth plans, which is already starting to materialize for many of them.
13 Mar 2020
BBVA shareholders have backed the Group’s corporate management in 2019 with 99.4 percent of the votes at the Annual General Meeting, held on Friday in Bilbao. Quorum has been the highest in the bank’s history: 66.83 percent.
Carlos Torres Vila, Group executive chairman
- Excellent figures: “In 2019 BBVA posted its highest net attributable profit of the past decade without one-offs”
- New strategic priorities: We want “to improve our clients’ financial health and help them transition toward a sustainable future”
- Dividend: BBVA is proposing at the AGM a complementary gross cash dividend of €0.16 per share. The total dividend for the year stands at €0.26 per share, which reflects a 36 percent of attributable profit, excluding the impact of the goodwill adjustment in the U.S.
Onur Genç, Chief executive officer
- Business model: “Once again, we have demonstrated the strength of our diversified model”
- Profitability: “We are number one in terms of profitability,” among 15 largest European banks
BBVA Group’s executive chairman referred to the Cenyt case at the 2020 Annual General Meeting, which was held on March 13, 2020. This is a transcript of what he said at the meeting.
BBVA shareholders meet today in Bilbao (northern Spain), where the bank will hold its Annual General Meeting. Starting at noon, Group executive chairman Carlos Torres Vila and CEO Onur Genç will present the bank’s shareholders with the most significant 2019 accomplishments and the outlook for 2020.
12 Mar 2020
Andrew Wong is the winner of the third edition of the scholarship offered by BBVA in collaboration with The World’s 50 Best Restaurants. The promising youth from the U.S. was selected among culinary students from around the world. He will complete his training at three restaurants led by chefs Mauro Colagreco, Luke Dale-Roberts and Leonor Espinosa.
YouTube started publishing its Ads Leaderboard list in 2017, to showcase the best performing and impactful advertising campaigns on its channels. The streaming giant has just released the list of ads that garnered the best results in Turkey in 2019, and, once again, Garanti BBVA’s campaigns rank high on list. The list is drawn up based on a number of factors, including the number of organic and paid plays, viewing time and the full playthrough ratio of each ad.
For the first time — after a decision made by UNESCO in November 2019 — the International Day of Mathematics will be celebrated on March 14, 2020. Surprisingly, until now the ‘science of the sciences’ has not had its own day of formal commemoration; and the date selected is no coincidence.
11 Mar 2020
In light of the situation resulting from the coronavirus, BBVA recommends not attending the Annual General Meeting in person whenever possible. The AGM is to be held on March 13th, 2020, at the Euskalduna Conference Center in Bilbao. Additionally, in order to allow shareholders to exercise the remote vote, BBVA has extended the deadline to do so until Thursday, March 12, 2020, at 08:00 pm.
BBVA’s Open Innovation unit is charged with ensuring the bank stays up to date with the latest fintech disruption happening anywhere in the world.
10 Mar 2020
BBVA’s 2020 Annual General Shareholders’ Meeting (AGM) is scheduled to be held next March 13, 2020, on first call, at the Euskalduna Conference Center in Bilbao. BBVA wishes and promotes the participation of its shareholders in such an important event for the company. For that reason, the bank has made available to its shareholders the appropriate channels to enable the exercise of their rights remotely, which are described in the Annual General Meeting section on the corporate website.
BBVA is operating as normal after activating additional measures on Tuesday following the recommendations made by the Ministry of Health and the Madrid and Basque regional governments, and after an employee at the bank’s Madrid headquarters tested positive for coronavirus (COVID-19). Following this positive case, the bank has closed the area where the employee worked, as well as some common spaces as a preventive measure. The rest of the bank’s facilities are operating as normal.
During the week leading to International Women’s Day, BBVA held a series of events to celebrate the organization’s advances in gender diversity. An event co-organized with the Inspiring Girls Foundation, in which a group of prominent women have shared their testimonials to inspire BBVA’s female workforce.
Unequivocally identifying people online and respecting their privacy remain major challenges for companies and a growing cause of concern for users. Covault is committed to a model whereby banks take on the role of the verifiers of users’ data, which is in keeping with the trend within the ecosystem.
Diversity is a fundamental cornerstone of BBVA’s approach to people management and training. The holistic method the bank has adopted to address this topic encompasses the values of equal opportunity and inclusion. One of the initiatives to promote these values is to provide employees with the tools to help them remove barriers that hinder female talent and work-life balance. ‘High Potential Women’ is an example of one of the initiatives significantly contributing to this task.
09 Mar 2020
Commercial banking veteran Orlando Castañeda has been named BBVA USA McAllen City President, where he will lead all Commercial operations in the market.
Following a selection process that began last November and involved large international firms in advertising communication, BBVA has awarded tenders for media management and the digital ecosystem to WPP Group and Accenture Interactive, respectively.
In an interview published by the Spanish newspaper ABC, BBVA’s Group executive chairman took stock of recent years and anticipated the bank’s focus looking ahead with new strategic priorities. Carlos Torres Vila underscored that the bank has reached “the [capital] levels where we want to be.” Now that this has been accomplished, in the medium to long term “there is an opportunity to increase BBVA shareholder returns through dividends or share buybacks,” he said.
BBVA Global Wealth (GW), the BBVA Group private global banking unit has entered into an agreement with art advisory firm We Collect to expand its art advisory services to customers in Spain and Switzerland. One of BBVA GW’s goals is to promote non-financial art-related issues, incorporating new opportunities for customers throughout 2020.
The BBVA Annual General Meeting will be held in Bilbao next Friday, March 13. The shareholder meeting (or AGM) is one of a company’s primary corporate governance vehicles. During the meeting, the company’s owners (the shareholders) ratify decisions on topics determined by law and by the corporate bylaws. The AGM includes particular features that are established by corporate law.