BBVA’s Turkish franchise announced its decision to turn to renewables to power its corporate buildings, subsidiaries and branches.
Fintech startups are transforming the path to homeownership with new financing models. Different companies in BBVA’s ecosystem are revolutionizing traditional approaches to home buying, creating new options that are helping consumers become homeowners, more easily, quickly, and with a more personalized experience.
21 Feb 2020
The electronic forensic investigation starts with the application of a series of keywords to people’s electronic devices that, according to the information available, are thought to have had information of interest about the facts, may have had or not participation in them (the so-called ‘custodians’). Devices may include both computers and other electronics used by the custodians as well as data available in servers, in both emails and other files.
Following the lifting of the secrecy order, BBVA wishes to reiterate the main messages regarding its actions in recent months.
Kai-Fu Lee, one of the world’s foremost experts in machine learning, has praised the focus BBVA has on Artificial Intelligence during a visit to the bank’s dedicated AI unit
The repercussions of climate change and the ensuing environmental commitment made by governments, the business community, and society as a whole have produced an onslaught of various terms that amount to a full glossary bound by sustainability. Carbon footprint is one of these terms.
BBVA stood out at the “Global Finance Best Investment Bank Awards” for yet another year. With 33 years of experience reporting on international financial markets and readers in more than 180 countries, the magazine presented the bank seven awards in different locations in recognition of BBVA’s capacity in investment banking and sustainable finance products and solutions.
The three 2019 BBVA Momentum winning social enterprises in the United States will attend the global event marking the close of this iteration of the program (to be held in Madrid on March 3rd) where they will share the full force of their business models. The three companies will participate in the premier social entrepreneurial event showcasing their initiatives, which seek to foster diversity, education, and access to healthcare in the communities they serve.
The Atlantic Council in Turkey and the European Bank for Reconstruction and Development (EBRD) recently held the ‘Renewable Energy Outlook Conference: Financing, Investment, Regulation, and New Technologies in Turkey, Central Asia, the Caucasus and the Western Balkans’.
20 Feb 2020
In response to a statement released by three Spanish press associations, BBVA states that it deeply respects the work of the media and their important role in society, and therefore, it rejects any practice that infringes their fundamental rights, the freedom of information and the freedom of speech.
BBVA is now offering its shareholders the possibility of exercising their right to vote or the delegation of this right through three channels: the websites bbva.es and bbva.com, and the bank’s mobile banking app. These voting and delegation options are available from February 19th through March 12th. BBVA’s Annual General Meeting is planned for March 13th in Bilbao.
The BBVA and Anthemis Venture Creation Partnership is helping U.K. based financial health business Wollit get off the ground with an integrated investment programme.
19 Feb 2020
The BBVA Research team has published its Economic Outlook for first quarter 2020, offering a look at a number of timely events and their anticipated economic impact.
The BBVA Foundation has awarded Isabelle Guyon, Bernhard Schölkopf and Vladimir Vapnik with the Frontiers of Knowledge Award in the Information and Communication Technologies category, for helping advance the field of artificial intelligence with their seminal contributions to machine learning. Their work has been applied to fields as diverse as medical diagnosis, computer vision, natural language processing and the monitoring of climate change.
BBVA officially presented the six strategic priorities that will allow the Group to accelerate and strengthen its transformation in the coming years. Group Executive Chairman Carlos Torres Vila and CEO Onur Genç announced the new priorities at a Live@BBVA event, broadcast via streaming for the bank’s 126,000 employees around the world.
BBVA has certified as green three non-recourse factoring operations from the wind turbine manufacturer Nordex. Closed in 2019 for approximately €265 million, the operations will deduct invoices from wind turbine supplies that the Germany company will provide the builder of various wind farms.
18 Feb 2020
The Houston Rockets and BBVA USA have announced the launch of their annual Launchpad contest for Houston entrepreneurs.
BBVA’s Group Executive Chairman participated this Monday in the presentation of ‘Superpowers of Artificial Intelligence’, the latest book by Kai-Fu Lee, one of the world’s most authoritative voices in the field of Artificial Intelligence. Both were invited to feature as speakers in a discussion panel and share their insights into the technological revolution and how it is reshaping society. “Through data and artificial intelligence we can improve our customers’ financial health,” said Carlos Torres Vila.
The financial industry has experienced a series of changes that have revolutionized the way banks engage with customers. In this evolving context, the next step is to apply this change to the way banks relate to their employees. Only the companies that manage to put their employees at the heart of their strategy will be able to attract, retain and develop the best talent. Some of our main challenges regarding Talent at BBVA involve empowering employees, diversity, and work-life balance.
“Work in the Age of Data” is the 12th book in the collection published by BBVA to disseminate and discuss fundamental issues of our time. This series is part of the bank’s OpenMind project — a digital community that aims to generate and disseminate knowledge in an open and free manner.
The book, which addresses the effects of the digital revolution on the labor market, can be downloaded for free in Spanish and English in different electronic formats.
17 Feb 2020
What impact does financial literacy have on women’s empowerment? Is it possible to curtail gender violence rates through financial education? These are just some of the issues addressed by one of the wining papers of BBVA Edufin Research Grants, organized by the Center for Education and Financial Capabilities.
Financial Regulation en BBVA
Quantum computing has taken a short time to make a big leap: from R&D laboratories to corporate meeting rooms. BBVA began its quantum journey almost two years ago and now has a team specialized in quantum development, business units involved in the initiative, strategic alliances agreed, and various lines of research in place.
Over the past two years, market volatility has caused investors to think twice before investing in Turkish assets. In an interview for Bloomberg in Turkey, Emre Hatem, head of Corporate Loans and Project Finance Restructuring at Garanti BBVA, discusses the country’s economic outlook for 2020 following 2019’s slump in transactions.
14 Feb 2020
Pillar No. 1
BBVA believes that banks play a key role in the future of society, particularly in how they address the social and environmental challenges we all face.
After naming a new CEO to take over its Houston market to start the year, BBVA USA has now announced that it has appointed Dee Hunt as its new Houston Global Wealth Executive.
BBVA increased its 2019 contribution to the communities it serves, allocating €113.8 million to social initiatives, thus benefiting 11.5 million people around the world, up 42 percent from the previous year. Of this investment, 85 percent is earmarked to the three areas defined as priorities in the Community Investment Plan: financial education; social entrepreneurship; and knowledge, education and culture.
MAPFRE has strengthened its life-savings insurance product portfolio with the launch of Unit Linked Valor Activo III. The product is linked to the performance of the Eurostoxx index and to a BBVA social bond. The bank will devote the proceeds to fund social projects. With this new operation, BBVA is supporting the Spanish insurance company’s efforts in broadening its sustainable commercial offering.
BBVA CEO Onur Genç recently visited the U.S. operations of BBVA in a homecoming of sorts. As the President and CEO of the global financial services company’s U.S. subsidiary in 2017 and 2018, Genç is highly familiar with the bank’s U.S. operations, and the team was glad to welcome him back for a series of meetings meant to encourage the market as they begin the execution phase of the bank’s new 5-year strategic plan.
13 Feb 2020
Today BBVA launched an issuance of senior non-preferred debt in Switzerland. It is the first time the bank has issued debt in the alpine country. The deal closed at 160 million Swiss francs (around €150 million), well above the initial offer of CHF 150 million (around €140 million).
BBVA has named Mario Pardo Bayona the new CEO of BBVA in Colombia. He will replace Óscar Cabrera, who is leaving the Group to take on new personal and professional challenges, following a successful career in both Spain and Latin America.
The next generation of leaders in the business industry are key components to a stable economic future across the U.S. and in the markets in which those leaders reside.
In an interview published in the latest edition of Compromiso RSE, Antoni Ballabriga, Global Director of Responsible Business at BBVA and Co-Chair of the Global Steering Committee for the United Nations Environment Programme Finance Initiative (UNEP FI), stressed that: “The financial sector’s sustainable partnership with the United Nations is more active than ever.” An initiative he feels promotes a financial industry that has a positive impact, serving people and the planet. “It’s something that it hopes to achieve by inspiring, informing and enabling financial institutions to improve people’s quality of life without compromising that of future generations,” he explains.
BBVA is gearing up for the first anniversary of the global unification of its brand identity. The introduction in the bank’s different locations is progressing at a good pace, thanks to the coordinated work of local teams to change both physical and digital assets. In fact, some countries like Argentina and Uruguay have already completed the process. On a global scale, in less than a year, over 3,600 branches around the world have been changed, and 1,000 logos have been adapted on different channels.
12 Feb 2020
BBVA today released its 2019 annual compensation report for its board members, the first that includes sustainability as a non-financial indicator in the variable compensation for the executive chairman. In 2020, the CEO will also have an indicator that will measure the bank’s strategic commitment to climate change and sustainable development. The 2019 compensation policy (applicable for 2019, 2020 and 2021) was already announced last year. It was approved with 94.8 percent of the votes at the Annual General Meeting in March last year.
BBVA’s Executive Board Member analyzed in Frankfurt the main challenges that Europe will face in the decade ahead and how they will affect banks. José Manuel González-Páramo noted that, on top of political and economic challenges, Europe will need to tackle “the double disruption that digital transformation and climate change will bring” and which will impact not only its economy, but also its financial institutions.
The 2019 syndicated loan market in Spain remained stable compared to 2018, primarily due to available liquidity —from banks and and institutional investors— in an environment of historically low interest rates. In addition, the European Central Bank has has all but ensured that interest rates will continue to hover in negative territory, given expectations for inflation over the next three years.
On September 25, 2015, global leaders adopted the 17 Sustainable Development Goals (SDGs) to protect the planet, fight against, and attempt to eradicate poverty in order to build a more prosperous world for future generations. These goals were established as part of the 2030 Agenda for Sustainable Development.
11 Feb 2020
Shortly after being recognized by Global Finance magazine for its cash and treasury management services, BBVA USA earned another pair of awards today from financial industry research firm Greenwich Associates.
Marine biologist, environmental activist and ‘slow travel’ advocate, the British sustainability guru maintains that the most urgent aspect of the climate crisis is questioning the mechanisms of progress — and identifying all of its traps.
BBVA Head of Culture and Employee Communication
10 Feb 2020
BBVA is to propose at the Annual General Meeting the appointments of Ana Revenga, Raúl Galamba and Carlos Salazar as new board members. With this announcement, BBVA fosters diversity of its highest decision-making governing body in several areas: female board members will now account for a third of the Board, meeting the goal set for 2020; and foreign board members will represent 40 percent. Areas of knowledge as relevant as sustainability will also be reinforced, especially from a social and aid development standpoint, as well as the global financial system and the Mexican financial sector, in particular. Following these changes, the Board will have two thirds of independent members.
Is it possible to take advantage of big data without it affecting the privacy of users? The answer may reside in “Privacy-enhancing technologies”, or PETs, a set of technologies that use different computational and mathematical approaches with the same purpose: extracting data value in order to unleash its full commercial, scientific and social potential, without jeopardizing the privacy and security of this information.
Since they were first launched in January 2019, this new generation of cards has distributed millions of air miles, which translates into hundreds of thousands of plane tickets. Shop&Fly card holders can fly to any destination in the world with the airline they choose, paying the taxes with the card.
07 Feb 2020
06 Feb 2020
Nonfinancial debt, specifically the relatively high ratio of business leverage, is drawing attention from economists working in policy and finance spheres, according to a recent publication by BBVA Senior Economist Filip Blazheski.
For the second consecutive year, Global Finance magazine has recognized BBVA’s treasury and cash management services, naming the bank as the Top Treasury and Cash Management Provider in the Southwest for 2020.
05 Feb 2020
BBVA’s Center for Financial Education and Capability is celebrating its third anniversary on February 6th. Since it was first established, this platform, which seeks to promote financial education as a driver to improve people’s financial health, has benefited from the collaboration of 100 different organizations participating in its initiatives. The center also serves as a complete information repository on the subject, and has showcased nearly 250 reports and publications and 140 best practices around the world.
Capital Magazine ranked BBVA’s CEO at the top of its list of the 50 most influential Turkish executives working abroad. And Forbes Spain ranked Onur Genç the third best Spanish CEO of the decade for Spanish Ibex-listed companies.
As BBVA last week unveiled a new set of strategic priorities to help strengthen its purpose, it also shared an update on its digital transformation.
The 2019 bond market was marked by record levels of bond issuance, exceeding the 2018 volume issued in Spain by 29 percent. Also noteworthy, the green, social, and sustainability bond issuance activity saw impressive positive performance, with a volume of close to €230 billion worldwide. BBVA stood out as the most active player with a green bond issuance volume of above €3.3 billion.
Paloma Tejada, Director of Talent and Culture and Communications in BBVA’s Client Solutions, participated in a round table discussion entitled “Is your hiring strategy appropriate? Predict performance and feed company diversity”. The goal was to share the path BBVA is pursuing in terms of attracting and retaining talent. Some of the conclusions from the discussions were that humility is the starting point, training is the foundation of the process and diversity will guarantee success.
04 Feb 2020
BBVA USA’s Global Wealth team saw a continued growth in customer satisfaction in 2019, reporting solid Net Promoter Score via its Voice of the Client Experience Program.
The BBVA Foundation has recognized three marine biologists — Carlos Duarte, Terence Hughes, and Daniel Pauly — with the Frontiers of Knowledge Award in the category of Ecology and Conservation Biology. Their research has expanded our knowledge about the Earth’s oceans and has contributed to the protection and conservation of marine biodiversity and ocean ecosystem services.
On Friday, January 31st, BBVA presented its 2019 results. The net attributable profit for the fourth quarter – excluding the impact from the goodwill adjustment in the U.S. – was 10 percent higher than consensus forecasts thanks to a higher net interest income and net trading income (NTI). In terms of the breakdown by geographic areas, Spain, Mexico and Turkey stand out for their strong performance.
03 Feb 2020
BBVA Research published its January auto sales chartbook, noting vehicle sales were 16.9 million in 2019, down 1.7% from 2018. While the sales results are still solid, 2019 sales were the lowest since 2014.
Carlos Torres Vila presented BBVA’s 2019 results today, “a year with record-high income” for the bank. BBVA’s Group executive chairman went over the bank’s biggest accomplishments since the presentation of the strategy in 2015 and also announced new strategic priorities. Of these, he emphasized two. On the one hand, “we want BBVA to be a trusted partner to improve our customers financial health”. And on the other, “we want to help them in the transition to a sustainable future.”
Mobile payments in Europe, QR codes in Latin America, and super apps in Asia: These are some of the trends that are getting the most traction across the globe in the digital payments arena. We review those initiatives that are making the biggest impact in each region.
31 Jan 2020
BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today a net loss of $331 million for the fourth quarter of 2019. Included in fourth quarter 2019 results is goodwill impairment (non-cash charge) totaling $470 million. Excluding the impact of this non-cash charge, adjusted net income¹ for the quarter was $139 million, a 29 percent decrease from the $196 million earned in the fourth quarter of 2018. Return on average assets and return on average tangible equity¹ for the fourth quarter of 2019 were (1.37) percent and (14.46) percent, respectively. On an adjusted basis, return on average assets¹ was 0.58 percent and return on average tangible equity¹ was 6.09 percent.
Recurring revenues (net interest income and net fees and commissions) continue growing robustly, reaching a record high in 2019. According to BBVA Group executive chairman Carlos Torres Vila, the bank obtained outstanding results despite a macroeconomic environment that was more complex than expected. “Looking toward the future, at BBVA, our goal will be to dig deeper into our strategy, integrating the interests of customers, employees, shareholders and society as a whole, balancing economic, social and environmental perspectives in everything we do,” he indicated.
Following the publication of 4Q19 earnings, BBVA Group executive chairman Carlos Torres Vila explained today that: “BBVA has achieved outstanding results in 2019, thanks to record-high recurring revenue.” This, in conjunction with exemplary cost management, has helped us “reach an ex items profit of €4.83 billion — our highest since 2009.”
BBVA Group earned €4.83 billion excluding one-time items in 2019 (+2.7 percent from the previous year), the highest figure since 2009. The results were driven by an increase in recurring revenue and the containment in operating expenses. Including the impact of the goodwill adjustment at its U.S. franchise in 4Q19 and the capital gains from the sale of BBVA Chile in 2018, the net attributable profit declined 35 percent yoy, to €3.51 billion. The bank is to propose for the consideration of the competent governing bodies a gross cash dividend of €0.16 per share to be paid in April 2020, maintaining the same amount as the previous year.
Did you know? There are more than 1300 different roles within BBVA—and they all play a critical role in creating opportunities for our customers. Over the coming months, we’ll be profiling some team members and sharing how they’re Working for Our Customers.
Carlos Torres Vila, Group Executive Chairman:
30 Jan 2020
Türkiye Garanti Bankası A.Ş. today announced its fourth quarter earnings. In 2019, the bank’s net income was TL 6.241.390 billion, with total assets at TL 428.554.148 billion. The bank’s contribution to the economy through performing cash and non-cash loans reached TL 321.964.117 billion.
Kathrine Switzer was the first woman to register for a marathon. During the race they tried to forcibly remove her number – a scene that became immortalized, and the photograph of the moment made its way around the world. Afterwards, the number she wore – 261 – has become a symbol of gender equality in sports.
29 Jan 2020
Did you know? There are more than 1,300 different roles within BBVA—and they all play a critical role in creating opportunities for our customers. Over the coming months, we’ll be profiling some team members and sharing how they’re Working for Our Customers.
The Paris-based Organisation for Economic Co-operation and Development (OECD) has presented its report on private development financing. The study assessed more than 30 of the largest foundations in the OECD member countries and reveals that the BBVA Microfinance Foundation disbursed $1.2 billion in 2018. This represents 83 percent of the total of this kind of financing in Latin America, BBVAMF’s sole operating region. BBVAMF thus places first in the region and second globally, after the Bill and Melinda Gates Foundation.
A company’s shareholders — ultimately the company’s owners — expect the company to create value that they can eventually recognize. Can the generation of shareholder value be measured? Which metric is a better indicator: book value or tangible book value?
28 Jan 2020
According to the publication released this week from BBVA Research, U.S. Macroeconomic Pulse for January 2020, the current baseline assumes growth of 1.8% in 2020, with a potential upside emerging. The paper further notes that model-based recession projections suggest probability around 30% over the next 24-months.
Did you know? There are more than 1,300 different roles within BBVA—and they all play a critical role in creating opportunities for our customers. Over the coming months, we’ll be profiling some team members and sharing how they’re Working for Our Customers.
The net interest income is the difference in euro between financial income and financial costs; that is, the difference between an asset’s profitability (the credit lines and loans that the institution has on its balance sheet, mainly) and the interest that the bank pays for the resources it needs to finance that asset (such as customer deposits and wholesale financing).
These are the expenses that an institution incurs in its business operations.
27 Jan 2020
BBVA USA highlighted the work its employees do to share knowledge and empower community members through financial education in its recent submission to the Boston College Corporate Citizenship Film Festival.
BBVA is celebrating the World Day for Reducing CO2 Emissions by reaffirming its environmental policy to develop a more sustainable economy. BBVA has committed to be neutral in terms of CO2 emissions in 2020. As of January 1st, it has assigned an internal price for its emissions, thus incorporating this factor into decision-making processes, as BBVA Group Executive Chairman Carlos Torres Vila recently announced. This measure is part of BBVA’s broader effort to align its activity with the Paris Agreement and cut its direct and indirect emissions. BBVA will light its Madrid headquarters building in blue in commemoration of this international day.
To calculate a bank’s relative productivity, the market uses what is called an efficiency ratio. This indicator calculates the income earned for the expenses required to achieve said income over a given period of time. An institution’s efficiency ratio, expressed as a percentage, is the result of the ratio between operating expenses and the gross margin. For example, if the efficiency ratio is 60% it means that to earn 100 euro, an institution needs to spend 60. Therefore, the lower the percentage, the more efficient the institution.
Holvi, the BBVA-owned digital banking specialist for self-employed business owners, has announced it is expanding into its third core market – the United Kingdom.
The numbers have spoken: women represent less than 30 percent of those registering for higher education degrees in science, technology, engineering and mathematics (STEM) fields. UNESCO data show that female scientists make up 28 percent of all scientists on a global level. This gap begins in the early years of girls’ education, when they start to distance themselves from sciences. How can we change this trend?
24 Jan 2020
BBVA’s Group executive chairman participated in a debate organized by CNBC at Davos to discuss what financial institutions can do to mobilize resources for a more sustainable development. Carlos Torres Vila pointed to the bank’s commitment – not only to mobilize resources, but to accompany its clients in this change. “Advising our clients in their environmental transition is an integral part of BBVA’s strategy,” he said.