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BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today net income of $166 million for the third quarter of 2020 compared to a net loss of $124 million in the second quarter of 2020 and net income of $183 million in the third quarter of 2019. Return on average assets and return on average tangible equity(1) for the third quarter of 2020 were 0.63 percent and 7.32 percent, respectively.

The BBVA Group’s results have been improving throughout 2020. The bank earned €1.14 billion in the third quarter (-6.8 percent in current euros, +4.1 percent at constant rates). This result is 79.5 percent higher than this year’s second quarter results in current euros (+83.4 percent at constant rates).  In addition, the strength of recurring revenues and cost containment efforts helped to boost operating income compared to the third quarter of 2019. “Net attributable profit grew significantly in the third quarter compared to previous quarters. This positive performance was the result of our resilient recurrent income, coupled with our focus on cost control and a better evolution of impairments, thanks to the significant provisioning effort in the first half of the year,” said BBVA CEO Onur Genç.

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Following the release of 3Q20 earnings, BBVA CEO Onur Genç underlined on Friday that  “this result shows a more normalized level, in line with previous years.” The BBVA executive added  that the €1.14 billion profit “represents a significant increase in the current context, up 79.5 percent vs. 2Q20 and 4.1 percent in constant euros, compared to the same quarter last year.”

BBVA earned €1.14 billion in the third quarter of 2020. It is the best quarterly result of the year and far exceeds the figure for 2Q20 (+79.5 percent in current euros, +83.4 percent at constant rates). Compared to the same period a year earlier, the 3Q20 result is 6.8 percent lower (+4.1 percent at constant rates). The strength of recurring revenues and cost containment efforts drove quarterly operating income to grow 13.5 percent yoy at constant exchange rates. In a challenging context marked by the pandemic, BBVA has shown a solid capacity to generate capital, with risk indicators having a positive performance. BBVA’s quarterly results also beat market expectations by 48 percent, as analysts’ consensus expected a result of €773 million.

29 Oct 2020

28 Oct 2020

In a year marked by a global pandemic, racial and civil unrest, a depressed economy leading to mass unemployment and a polarizing political landscape, it’s easy to believe that companies should simply be in survival mode and cut straight to the basics of their business.

BBVA’s chairman participated this Tuesday in the first edition of the Expansión International Economic Forum, organized by the financial newspaper Expansión and the international forum, the European House-Ambrosetti, in Alcalá de Henares, Madrid.  “Public-private collaboration can leverage private initiatives to make investment decisions and generate prosperity,” said Carlos Torres Vila. In this regard, he feels that “the work of the public sector is to attract private investment with appropriate incentive schemes that manage to multiply European funds,” and in this process, “banks can play a key role” to channel the funds, analyze the projects being financed and strengthen their effect on the economy with their financing.

Türkiye Garanti Bankası A.Ş., recently reported its financial results as of September 30, 2020. Based on the consolidated financials, the bank’s net income in the first nine months of the year was 5.24 billion Turkish lira. Assets totaled 525.91 billion Turkish lira, and the bank’s contribution to the economy through cash and non-cash loans was 400.38 billion Turkish lira. Deposits continued to be the main source of funding, as 66 percent of assets were funded via deposits.

27 Oct 2020

26 Oct 2020

The BBVA Chairman kicked off MoneyFest, this year’s virtual edition of Money2020. In an interview with Spriha Srivastava, Executive Editor overseeing the London Newsroom of Business Insider, he shared his insights into the trends that the pandemic has accelerated, such as digitization and sustainability. Carlos Torres Vila considers that this crisis can be an “opportunity to reset our world.” In this sense, he noted that the “infusion of public funds must contribute to achieve a more digital, sustainable and inclusive society.”

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.

23 Oct 2020

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.

22 Oct 2020

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.

21 Oct 2020

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.

The BBVA Foundation is preparing the launch to the new edition of the Frontiers of Knowledge Awards, which will begin announcing its 2020 winners in January. A prelude to the Nobel Prize, Frontiers´ juries have been one step ahead of the Swedish Academy having awarded people who later went on to win the Nobel on 15 previous occasions. For this reason, the international community remains especially attentive to the upcoming Frontiers selection.

20 Oct 2020

19 Oct 2020

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.

16 Oct 2020

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.

15 Oct 2020

14 Oct 2020

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.

A higher level of financial education in African American communities in the U.S. translates into higher economic well-being, according to the study “Financial Literacy and Wellness among African Americans” by Paul J. Yakoboski from TIAA Institute, and Annamaria Lusardi and Andrea Hasler from the Global Financial Literacy Excellence Center (GFLEC).  However, not everyone has the same access to quality financial literacy in the country.

13 Oct 2020

08 Oct 2020

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.

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Kai-Fu Lee is a Taiwanese-born American businessman and writer, regarded as one of the world’s top AI experts.  He graduated from Columbia University in computer science, and earned a Ph.D. from Carnegie Mellon University, where, as part of his thesis, he completed what is considered the first independent speech recognition system: Sphinx.

07 Oct 2020

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.

The Ibero-American Communication Association (ASICOM), together with the University of Oviedo and other iberoamerican institutions, awarded the work implemented by the BBVA Microfinance Foundation in Latin America, where it accompanies more than 2.3 million low-income entrepreneurs in five countries in the region. According to the organizers, this award acknowledges the work of the Foundation in “improving the standard of living of millions of people with their efforts.”

06 Oct 2020

In the last part of the BBVA USA Paycheck Protection Program (PPP) Forgiveness Series, final tips and advice are given, based on the frequently asked questions submitted from actual small business owners who received a PPP loan. Questions were submitted as part of the BBVA USA Forgiveness Webinar, developed to walk small businesses through the forgiveness process.

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.

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Carlos Torres Vila shared his personal views on education during an episode of  BBVA’s educational program ‘Aprendemos juntos’ (We learn together), in collaboration with Spanish daily El País. BBVA’s Group executive chairman took questions from students, parents and teachers, in a talk entitled ‘Life lessons:values, success and leadership.’ In his opinion, education is the “driver of growth in society, the door to opportunities and a force, perhaps the most important there is, to correct the inequalities that exist in our society.”

05 Oct 2020

02 Oct 2020

Head of U.S. Compliance Solutions Carolyn Veizaga leads BBVA USA’s Compliance team in the management and execution of global projects, relying on her more than 17 years of experience in financial services, project management, and consulting. We took a moment to get her perspective on motherhood, mentorship, and diversity as a female leader at BBVA.

01 Oct 2020

30 Sep 2020