On Friday, BBVA held its Annual General Meeting in Bilbao, where the Chair, Carlos Torres Vila, took stock of an excellent year. During his presentation, he underscored that BBVA, “with its strategic plan, aims to consolidate its business growth, multiply its contribution to society and create value for everyone.” In his opinion, it is crucial that Europe and Spain have banks with the right scale to take on the challenges posed by the new global landscape. In this context, BBVA is proposing the integration with Banco Sabadell as a “clear commitment to Spain and its companies.” Carlos Torres Vila stressed that with this transaction “both BBVA and Banco Sabadell shareholders will become the owners of a bank better prepared for the future.”

Carlos Torres Vila, Chair

• Impact on society: “In 2023, we increased our positive impact on all countries where we operate”.
• Shareholder distributions: “We are proposing to the AGM the distribution of more than €4 billion, 50 percent of the annual net attributable profit”.
• Future outlook: “In 2024, we will continue to grow profitably, creating opportunities for everyone”.

Onur Genç, CEO

• Earnings: “Our performance puts us at the top of the European banking industry in activity growth, profitability and efficiency”.
• Customer-focused: “We will continue focusing on our strategy based on innovation and digitization, which will allow us to offer a better service to our customers”.
• Team: “The excellent earnings we are presenting are the result of the work of more than 120,000 employees who are part of BBVA”.

In 2023, BBVA had great achievements financially and also in terms of value creation for all of its stakeholders. “BBVA’s ability to combine growth and profitability sets us apart from our competitors,” said Chair Carlos Torres Vila at the Annual General Meeting (AGM), held Friday in Bilbao, in northern Spain. During his speech, he predicted that following a record year for BBVA in profit and impact on society, “2024 will be even better.”

A strong performance in 2023 and forward strides in strategy driven by digitization, innovation and sustainability enabled BBVA to continue to play a key role in the transformation of the economy and create opportunities for all its stakeholders: customers, shareholders, employees and wider society.

BBVA Chair Carlos Torres Vila speaks to the bank’s shareholders in this video commemorating the upcoming Annual General Meeting in Bilbao. In his message, he emphasizes BBVA’s growth in 2023 - in terms of customers, business, results and profitability. This growth has made it possible for the bank to increase its positive impact, and to continue creating opportunities for all of its stakeholders: customers, employees, shareholders and society as a whole. Furthermore, he stressed BBVA’s total distributions to shareholders, which surpassed €4 billion in 2023, or half of the bank’s earnings from the year. The BBVA Chair expects 2024 to be another great year for the bank, combining growth and profitability.

Carlos Torres Vila, Chair

• Customers: “We added more than 11 million new customers in 2022. We reach more people and we can increase the positive impact of our activity”
• Lending: “Last year we helped more than 100,000 families purchase their home and we financed nearly half a million SMEs and the self-employed”
• Shareholder distributions: BBVA is proposing to the AGM the distribution of €3.02 billion in dividends and a share buyback program

Onur Genç, CEO

• Results: Underscore “the trend of rising profits over the past ten years,” with the exception of the year of Covid
• Soundness: “Risk management has always been one of our strengths”
• Employees: “For BBVA, having the best, most diverse and committed team is a strategic priority and we work hard for this to be a reality”

BBVA is holding its Annual General Meeting at the Euskalduna Conference Center in Bilbao this Friday. The Chair of the bank, Carlos Torres Vila, analyzed the global macroeconomic situation, marked by uncertainties in financial markets and geopolitical, inflationary and interest rate tensions. In this context, BBVA produced solid figures in 2022, while increasing distributions to shareholders. Carlos Torres Vila assured that “despite the uncertainty and market volatility, at BBVA we face 2023 with confidence and prospects for profitable growth in our main markets.” “It is at times like these when the strength and soundness of the business model and of the risk management of BBVA stand out the most,” he said.

BBVA shareholders backed the possibility of redeeming up to 10 percent of the bank’s share capital, equivalent to 667 million shares, with 99.6 percent of the votes at the Annual General Meeting (AGM) held in Bilbao.