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.
24 Jul 2020
14 May 2020
In an interview published by the financial newspaper Expansión, BBVA’s CEO explains what the coronavirus crisis has been like for him, and how the bank has adapted its operations to continue providing customers the same service. “It is very rewarding to see how our teams have adjusted to the challenges posed by this scenario,” he said. Onur Genç thinks the crisis is going to have a major impact on the economy and businesses, and that now is the time “when we – the banks – need to stand by our customers more than ever before, and be part of the solution to this crisis.”
11 May 2020
06 Mar 2020
As part of his tour across all regions and business areas, BBVA CEO Onur Genç met in Madrid with the team of the bank’s wholesale banking area, Corporate & Investment Banking (CIB). Genç had the opportunity to review the priorities of the business units and wholesale banking products that comprise this area of the bank.
02 Mar 2020
On February 27th and 28th, BBVA’s CEO met with the new Head of BBVA Spain, Peio Belausteguigoitia and the team in the country. Onur Genç stressed that the Spanish franchise plays a key role in contributing to the success of the BBVA Group’s six new strategic priorities.
14 Feb 2020
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.
05 Feb 2020
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.
17 Jan 2020
Following several quarters of slowing down, the Turkish economy is starting to stabilize, and forecasts suggest a V-shaped recovery for 2020. BBVA CEO went to Turkey this week to meet with the Garanti BBVA team. Onur Genç stressed that: “Turkey was the biggest positive surprise for the Group in 2019, and 2020 will be even better.”
10 Dec 2019
“We are in a climate emergency. It is currently the most pressing challenge humanity must face, and we have to be fast in taking action,” declared BBVA CEO Onur Genç, who recognized the important role sustainable finance plays in achieving the goals of the Paris Agreement. In a panel on the financial sector and sustainability at the Climate Change Conference in Madrid, BBVA’s CEO underscored the financial institution’s role in accompanying clients in this crucial environmental transition.
03 Dec 2019
BBVA CEO Onur Genç stated that: “Today, more than ever, banks play an important role in addressing the sustainability challenge.” In his opinion, “Only banks can play a central role in distributing the resources, which is a key part of the climate change challenge.” The executive made these remarks at the 15th IESE Banking Industry.
25 Nov 2019
In an opinion piece published by the Spanish daily newspaper ‘ABC,’ BBVA CEO Onur Genç asserts that Spanish banks are recognized international leaders in the sector, not only because of their financial solidity and global reach, but also because they have spearheaded the transformation of the industry.
31 Oct 2019
BBVA earned €1.23 billion in the third quarter, +6.1 percent yoy, excluding capital gains from the sale of BBVA Chile and this franchise’s earnings in 2018. The net attributable profit for the first nine months of 2019 reached €3.67 billion, +1.2 percent yoy (+0.5 percent in constant euros), on a comparable basis. The result was driven mainly by growth in recurring revenues and containment in operating expenses.
Onur Genç, BBVA CEO:
14 Oct 2019
BBVA CEO Onur Genç said on Monday that the bank is focused on organic growth, efficiency and transactionality, all leveraged by digitization. “We are focused on these three levers to ensure we provide the best value,” he said at the 10th Expansión-KPMG Financial Meeting in Madrid. He also recalled that “we have been pioneering the digital transformation.”
11 Oct 2019
BBVA Group executive chairman Carlos Torres Vila, CEO Onur Genç, and the Country Manager of BBVA Spain, Cristina de Parias met on Friday with the bank’s management team in Catalonia to discuss the challenges and opportunities this territory offers. More than 60 percent of Catalan companies are BBVA clients. The bank will continue putting the focus on connecting with its clients and customers.
19 Aug 2019
31 Jul 2019
BBVA CEO Onur Genç stated, “Today we are pleased to present excellent results.” He made the statement after BBVA reported 2Q19 results, announcing a net attributable profit of €1.28 billion, up 10 percent from the previous quarter and 6 percent yoy, excluding the sale of BBVA Chile. “We are once again leaders in terms of profitability, coming out ahead of comparable European peers,” he stressed.
Between January and June 2019, BBVA Group earned €2.44 billion. In the second quarter, the net attributable profit reached €1.28 billion, up 10 percent qoq, and 6 percent yoy, excluding the sale of BBVA Chile, thus maintaining the same business perimeter (or +2.6 percent including Chile). The results were driven by a solid evolution of more recurring revenue items, with a double-digit growth of the net interest income, and lower impairments on financial assets.
07 May 2019
Last week during the 2019 first quarter results presentation, BBVA CEO Onur Genç outlined some of the continued progress the bank has been making in its digital transformation.
29 Apr 2019
Following the release of BBVA’s Q1-19 earnings, the Group’s CEO Onur Genç said today that, “the P&L shows positive dynamics, with operating income growing over 10 percent driven by recurring revenues and significant improvement in efficiency.”
08 Mar 2019
Onur Genç this week visited three of BBVA’s units in South America, in his capacity as BBVA Group CEO. His first stop was Bogotá, where he held a series of meetings with the teams of BBVA in Colombia, which is led by Country Manager, Óscar Cabrera. The CEO stressed the franchise’s continued market share growth, with a 2 percent increase in seven years, to 10.25 percent. “A bank is only as good as its people. Congratulations on your achievements,” he said.
11 Feb 2019
BBVA CEO Onur Genç continues his tour across the Group’s operating countries. After his visit to Spain and Mexico, last week he found himself in Turkey. During his visit to Garanti Bank, Genç was able to witness firsthand the digital transformation progress that has been made by one of the bank’s leading digitization franchises, led by Fuat Erbil.
01 Feb 2019
Carlos Torres Vila presented BBVA’s 2018 earnings in his first press conference as chairman of the bank. He stressed that the “positive results” were sustained by recurring revenues, cost containment efforts and the strength of the Group’s diversified business model. During the presentation, he also addressed the news published in some media outlets regarding services provided by Grupo Cenyt. The chairman made appeals not to “prejudge” the alleged news and to let the BBVA investigation “do its job”, which will be conducted with “rigor, diligence, and thoroughness” in order to shed light on the facts. In addition, he made assurances that “BBVA has been, is, and will continue to be an honest bank”
29 Jan 2019
BBVA CEO Onur Genç, is still embarked on his tour across the different geographies in which the BBVA Group operates. After Spain, his next stop was Mexico, where he met with the BBVA Bancomer team, led by Eduardo Osuna.
Over the course of the work sessions, Onur Genç had the opportunity to learn first-hand about the business plans of BBVA’s Mexican franchise and discussed the countless milestones achieved by the bank in its transformation journey, with an ever increasing portfolio of digital products and services for private customers, corporates and public administrations. “What you have achieved as a team in Mexico is simply marvelous. In all metrics, BBVA Bancomer’s has done a wonderful job. You’re leading the way towards transformation,” he said.
24 Jan 2019
Spain was the first stop in the tour BBVA’s new CEO is taking across the different markets where the Group operates.
Onur Genç met with those in charge of BBVA Spain, as well as the different multidisciplinary teams working on the development of next-generation digital products and services. “I was able to see first hand the commitment and dedication of the entire BBVA team in Spain. They are pioneers in many of the projects the Group launches,” he said.
31 Dec 2018
Onur Genç represents BBVA’s global nature almost better than anyone else: a Turkish national working for a Spanish bank with global operations and aspirations. Having lived in 5 different countries, and having worked for BBVA in Turkey and the United States, Spain will become his new home next year, when he’s set to take over as BBVA Group’s CEO.
05 Dec 2018
Carlos Torres Vila, CEO and future executive chairman of BBVA, and Onur Genç, who will take over as CEO and is currently head of BBVA in the U.S., will do “extraordinary things” together with the rest of the BBVA team, said Francisco González, chairman of the Group, speaking at an IESE event in New York.
29 Nov 2018
Onur Genç has just been named the next CEO of the BBVA Group. He is excited, beyond happy and somewhat surprised. As the announcement is made public we meet him for a quick chat.
28 Nov 2018
The Board of Directors of BBVA approved the succession plan for the company’s chief executive officer (CEO). Onur Genç, who is currently the CEO of BBVA Compass and U.S. country manager for BBVA, will replace Carlos Torres Vila as Group CEO. The succession is expected to take place on Dec. 31, 2018.
18 Apr 2018
Onur Genç was named CEO of BBVA Compass and U.S. country manager for BBVA Group in January 2017. He also is responsible for BBVA operations in New York and the BBVA Bancomer Houston Agency.
20 Jun 2017
19 Jun 2017
Although BBVA opened its first U.S. branch in New York City in 1988, it wasn’t until 2004, with the acquisition of a small Southern California bank, Valley Bank, that it rolled out its first retail banking operations in the U.S. Over the next two years, the acquisition of three more banks – Laredo National Bank, Texas State Bank and State National Bank – allowed BBVA to become a leading bank in Texas. By then, it was clear that BBVA was targeting the U.S. market as a pivotal element in its strategy to become a relevant global player. A reality that crystalized 10 years ago, with BBVA’s acquisition of Compass Bank in 2007.
22 Feb 2017
Onur Genç’s appointment as BBVA Compass CEO and country manager marks the beginning of a new chapter for the BBVA Group’s franchise in the U.S. Genç is ready to take on the challenge of leading the digitization push, at a time when the prospects of rising interest rates could have a profound impact on the future of the industry. BBVA CEO Carlos Torres Vila, in Houston visiting the team at BBVA Compass, joined Genç for this interview. BBVA’s CEO underscored the bank’s commitment to the U.S. market, a region that accounted for 11 percent of the Group’s net attributable profit in 2016.
21 Dec 2016
BBVA Compass today named Garanti Bank’s Onur Genç as its next CEO and announced that Manolo Sánchez will become its non-executive chairman, strengthening the management structure of the BBVA Group’s U.S. franchise.