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.
Spain finished first in the final of the international competition, European Money Quiz 2020, an initiative organized by national banking associations in Europe and coordinated by the European Banking Federation (EBF). Mateo González Villar, a student at Mirabal School in Madrid, managed to emerge victorious in a highly competitive contest in which 29 finalists participated from 22 European countries.
06 Jul 2020
The BBVA Research team has published two reports: its U.S. Regional Outlook for July, highlighting key factors impacting regional economies, along with its economic analysis of the U.S. employment report. The COVID-19 pandemic continues to impact job growth and other economic indicators.
03 Jul 2020
Money isn’t everything; supporting communities, visibility, training, and strategic support are the key pillars of the BBVA Momentum program. This is one of the conclusions coming out of the panel, ‘BBVA Momentum: Support for Social Entrepreneurs,’ organized by The Next Web in collaboration with the Financial Times, and in which BBVA’s social entrepreneurship support initiative has been featured for best practices. María Erquiaga, global head of BBVA Momentum and Arancha Martínez, founder of Itwillbe.org and participant in the 2017 Momentum program, shared an online platform to stress the growing importance of sustainability in entrepreneurial ventures and the value of social innovation with an impact.
02 Jul 2020
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).
01 Jul 2020
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.
30 Jun 2020
With BBVA set to open 15 new branches across Texas in early 2021, the bank enters a new era that blends digital banking with face-to-face interactions even further.
BBVA USA announced today that it has received approval to open 15 new branches across Texas, the bank’s largest market in its U.S. footprint.
An agricultural engineer, a painter, a baker, a shoemaker, Jorge Domínguez is a modern day “Renaissance Man.” He is also a 63 year old Venezuelan migrant in Pamplona, Colombia that fled his country three years ago in search of a better life for his family.
Growing interest in sustainability across all segments of society has led to innovations in sustainable finance offerings, specifically in the world of corporate financing. Issuances of bonds linked to sustainability criteria are among the latest market developments. Analysts at BBVA Global Markets Research explain the basics and share with us their view of the product.
29 Jun 2020
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.
Vulnerable population groups are bearing the brunt of the global pandemic and need more economic support measures. These are some of the ideas set forth by Mayada El-Zhoghbi. El-Zhoghbi, Managing Director of the Center for Financial Inclusion (CFI) and new member of the Advisory Board of the BBVA Center for Financial Education and Capability, who also advocates for, among other measures, equal access to financial services.
The bank has produced a manual entitled ‘Normalizing Differences’ that aims to provide employees across the company a basic knowledge about LGBTIQ+ diversity, most especially executives and people managers who are involved in the selection process or decision-making about employee professional development and trajectory. The document, put together with input from hundreds of employees who agreed to be interviewed for the initiative, identifies challenges and specific needs people belonging to this group may face.
26 Jun 2020
The projects financed with green bonds issued by BBVA in 2018 and 2019 avoided a total of 724 tons in CO2eq atmospheric emissions, almost three times than the previous year. This amount is equivalent to what more than 285,000 cars emit in one year, thus contributing to reduce the carbon footprint. This is one of the key takeaways of BBVA’s green bond report.
25 Jun 2020
BBVA, acting as sole sustainability coordinator, has advised the German energy company EnBW to incorporate environmental and social criteria into its core bank financing. This characteristic underscores the company’s sustainable commitment. The financing agreement turns EnBW into one of the first corporations in the world to include sustainability across its entire financing spectrum. EnBW has issued three hybrid bonds and one green bond since 2018; BBVA acted as active bookrunner in the green bond and in one of the hybrids.
BBVA presented its design principles – a set of ideas that make it possible to unify criteria for the design of any of the bank’s products or services in line with the Group’s strategic priorities. These principles serve as a compass to guide and inspire the design team’s work and represent another step toward BBVA’s commitment to consolidate design as a fundamental pillar in the bank’s strategy.
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’.
24 Jun 2020
The future will never look the same. If one were to scour news articles and studies around the current health situation, one will find that a good portion of medical experts will convey this concept. It’s difficult to say what the future will look like in multiple facets of society, but it’s safe to say that the ripple effects will be prominent, at least in the beginning.
BBVA USA today announced the launch of two digital updates designed to strengthen financial freedom. The bank launched its new mobile banking app, Mobile 9.0, and expanded transaction detail screen in mobile and online banking, both aimed at leveraging the bank’s technology expertise to provide a better experience and more control for customers.
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.
23 Jun 2020
Tali Sharot is the director of the Affective Brain Lab. She is a professor of cognitive neuroscience in the Experimental Psychology department at University College London and a senior research fellow at the Wellcome Trust.
Over the past few months, the whole world is making an extra effort amidst the sanitary and economic crisis prompted by the COVID-19 pandemic. Banking is an essential service and as such it has a key role in economic activity. Peru was no exception, and BBVA continued to serve its customers and clients with all their financial needs.
Olga Gouveia, lead economist for Financial Systems at BBVA Research, wrote an op ed piece for the Spanish daily paper, Expansión, where she gave a positive appraisal of the European Central Bank liquidity auctions. The ECB auctions aim to increase lending in order to address the impacts of the COVID-19 crisis.
22 Jun 2020
BBVA in Spain’s mobile banking app adds an average of 60 new features every year. Users especially appreciated the ability to manage their finances on the app during the lockdown. They also value the channel’s speed – the app opens in just two seconds – and how easy it is to use. Bank customers gave the app a score of 4.7 on Google – the highest in the industry and close to the maximum score of 5. The app reached this score after the outbreak of the pandemic, when it became and essential tool.
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.
19 Jun 2020
BBVA USA announced earlier this week that it would close offices across its footprint in commemoration of Juneteenth, creating an opportunity to cultivate a deeper understanding of our individual and collective roles in standing against systemic racism and social injustice.
BBVA has joined a campaign launched by Spain’s government to promote the country’s brand abroad.
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).
18 Jun 2020
BBVA USA today announced the addition of Dale Kahil to the Commercial Banking – Emerging Companies team in the Houston market, providing another key team member to the group’s growing operations.
Reliability, convenience, sustainability, trust, and security are key words consumers and businesses want to associate with their bank. The best example of where these words blend to one concrete concept in the banking industry is in data and technology.
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.
17 Jun 2020
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.
The project was created with the aim of promoting the work of farmers, ranchers, fishermen and wineries across Spain through easy and delicious recipes. Every month, the Roca brothers will select the best ingredients in season and come up with a proposal of how to cook them. Subscribers will receive a box of products in their kitchen, along with a recipe, the stories of the farmers behind the selected products and healthy advice to make the most of each ingredient. This content will be available to anyone on the ‘Sustainable gastronomy’ platform.
The King and Queen of Spain held two meetings with entrepreneurs. Arancha Martínez, the founder of Itwillbe.org, and Pablo Santaeufemia, the founder of Bridge for Billions also participated in the meetings. Both participated in the 2017 edition of BBVA Momentum, BBVA’s program in support of social entrepreneurship. The meetings addressed the social and economic challenges that lie ahead, and the solutions entrepreneurs are proposing to overcome them.
16 Jun 2020
A few weeks ago some colleagues from a development team told us about their worries on the JSON Web tokens (JWT) generation they were doing as part of a new tool integration they were working on. They had heard about several security issues regarding the use of JWT tokens so they asked us for help in order to validate if the tokens they were issuing were correct and met some basic security requirements.
We are currently working on a project to help automate security tests, APICheck, which we’ve recently released as open source. APICheck is comprised of a set of small tools that can be pipe chained in order to run several tests on API requests, so we got down to work with the development of a new tool for validating the JWT they were issuing, jwt-checker, in which we’ve implemented the ability to pass the validations on the tokens we’ll talk about. Below I’ll show you an example of a test implemented using the tool.
15 Jun 2020
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.”
Neither Google, Samsung, nor Amazon are banks. Yet they all provide financial services, specifically in the areas of payments and money transfers. Even Facebook is making plans for its own currency, Libra. Financial regulation needs to respond to the challenges of a changing landscape: fintech startups are paving the way for digital ecosystems while the Big Tech are taking steps to penetrate what has traditionally been banking territory.
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.
12 Jun 2020
According to last week’s data on credit and debit card spending, consumption has recovered in regions where pandemic restrictions have been lifted. This improvement is observed in the U.S., Turkey and Spain, and in recent days in Latin America. In Spain, increased spending has been seen in those regions that first moved into phase two of the country’s reopening. BBVA Research points out that there was also an increase in ATM cash withdrawals.
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.
11 Jun 2020
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.
10 Jun 2020
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.
09 Jun 2020
The BBVA Research team has published its unemployment insights for May 2020, noting that the economy appears to have reached bottom and that the recovery is underway.
The BBVA USA Houston market, in line with its emphasis on employee development, has promoted Estefanía Gallardo from Relationship Support Specialist to Commercial Relationship Associate.
The COVID-19 pandemic’s effects on the financial industry and consumers have been well-chronicled in traditional and social media alike. Banking may never be the same moving forward, in many different ways. That could also include an expedited disappearance of cash, a mode of payment that was already on the decline.
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.
The relaxation of pandemic restrictions has given consumption a boost in those Spanish regions that first moved into phase two of the country’s reopening. BBVA Research’s weekly analysis measuring debit and credit card spend reveals that for regions remaining in phase one, previous consumption improvements (coming out of the transition from phase zero to one) stalled, with declines last week of May standing firmly at between 10 and 15 percent.
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.