The European Commission enters the final stretch of its mandate. The commissioners who took office in 2014 will leave their posts after the next European elections (in May 2019). Before the current members of the Commission and the European Parliament are replaced, both institutions will conclude negotiations and approval of some of the EU’s priority measures.
BBVA around the world
BBVA around the world
Julian Romero is Head of the Sustainable Bond Group in BBVA’s lending department. As Head of this group of experts whose mission is to bring BBVA’s customers opportunities related to sustainable finance in the capital markets, he gives us an analysis of the potential of green bonds in Latin America.
It’s time for suitcases, airplanes, highways … and it’s the high season for tourism and travelling, an activity that has a huge economic impact around the world. In gross terms, this industry is most important to the United States, whereas in Spain it represents almost 15 percent of the GDP, with Catalonia and Spain’s islands being the preferred destinations.
The Boston Consulting Group (BCG) recently released research aimed at demonstrating the importance of digital transformation in corporate banking. In the research, BCG underscored the notion that for lasting and meaningful digital transformation, banks need to develop a clear vision for the future of banking, formulate a comprehensive strategy of how they will evolve alongside it, and plan their initiatives accordingly.
A traditional debate that ensues when banks are expanding internationally revolves around whether it is preferable to run branch offices or set up subsidiaries. Subsidiaries are associated with decentralized models where banks adapt to the local environment, both from a business and regulatory point of view. The model that uses branches characterizes banks with a more centralized structure, where decisions are made by the parent company.
2018 has been a year of consolidation for green, social, and sustainable bonds as sources of financing in capital markets, as their solid growth demonstrates. So far, the global market for these sustainable financial instruments has reached the equivalent of €71 million euros, according to Dealogic. In Spain alone, the volume of green bonds issued in 2018 has already exceeded the amount issued in 2017.
EBITDA, or Earnings Before Interests, Tax, Depreciation and Amortization, is an accounting measure that shows the gross income before financial expenses are deducted, and which allows financial analysts to assess the behavior and financial standing of companies.
There is no one-size-fits all when categorizing small businesses, according to BBVA Compass Business Banking Segment Executive Director Elizabeth Dobers. Some banks have a different outlook when making that determination – including consideration of annual sales, number of employees and annual receipts.
BBVA Compass Gainesville City President Robert McDaniel has seen a good amount in his seasoned career in the banking industry.
Once upon a time, not so long ago, sending money was a tedious, often time-consuming task. Now, with the advent of the smartphone and mobile banking apps, sending money doesn’t need to be time consuming or burdensome. With the BBVA Compass Mobile Banking App sending money is easier than ever.
Exactly 50 days away from the BBVA Compass Iron City Showdown, Birmingham City Schools (BCS) recognized William J. Christian K-8 students as winners of the BCS Attendance Challenge. The school hosted a pep rally in the gymnasium to inform students of the honor.
Garanti Bank, official sponsor of Turkish basketball for more than 17 years, has launched an advertising campaign to support the Turkish national basketball teams, facing the wheelchair basketball world championships that will take place in Hamburg (Germany) from August 16 to 26.
BBVA’s efforts to foster product sales through its digital channels have been well received by customers. Customer adoption of digital channels -and sales across these channels- have seen increasing growth month after month.
In a context marked by a loss of confidence in digital companies such as Facebook because of their handling of data who can users trust their information with? A report by the Institute of International Finance (IIF) studies the role of banks in this new scenario and goes over their strategies, their strengths and their commitment to protecting the data of their customers.
In a scenario of political and economic uncertainties and amid external shocks mainly caused by U.S. protectionism and China, the recovery of the Latin American economy continues apace, with growth expected to gradually accelerate and reach a forecast 2.1 percent in 2019 (Source: BBVA Research).
As the trade war between China and the U.S. continues to escalate, both sides exchanged salvos in early July with the U.S. imposing 25 percent tariffs on $34 billion worth of imports from China, followed by a similar response from China.
BBVA has requested arbitration procedures through the complementary mechanism of the ICSID – the International Center for Settlement of Investment Disputes – within the framework of the Reciprocal Investment Promotion and Protection Agreements between Spain and Bolivia with respect to the transfer of BBVA Previsión AFP (Pension Fund Administrator) to the Government of Bolivia.
Marcos, Marcela, Lucy, Juan, Adelaida, and Luz are not six names just pulled from a hat. They are six Latin American entrepreneurs who are getting ahead using small loans, savings, and microinsurance that protects what they are building. They are six of the 2 million people served by the BBVA Microfinance Foundation (BBVAMF).
Advertising will experience stable growth in the next five years, developing toward a more digital and mobile business, touched by fewer hands.
Exchange Traded Products (ETPs) replicate the movement of a financial asset or basket of financial assets such as indexes, commodities or currencies. An ETP is an “investment vehicle” that combines the advantages of shares, in that they are traded in the continuous markets of exchanges with an investment in a group of financial assets. This characteristic has made ETPs a very popular alternative investment.
BBVA Compass has announced the launch of BBVA Compass net cash™, an updated treasury management portal that helps clients manage their company’s cash position and banking transactions.
Three and a half years ago when BBVA acquired Madiva, a small company dedicated to big data, no one could have imagined the impact it would have on the group. In that time, the 16-employee strong startup has shown how the use of non-financial data can translate into new business, sales, and customers.
BBVA Compass, as part of its mission to bring the age of opportunity to everyone, is bringing world-class chef Joan Roca to Manhattan to host and serve two dinners at Cipriani Wall Street on September 18 and 19 for select attendees.
BBVA, a pioneer in the area of immediate private customer enrollment, has enhanced the sign-up process over its digital channels. Last year, the Bank announced the creation of Veridas, a technology company, specializing in the development of new identification and authentication systems. BBVA founded the new company with Das-Nano, a startup based in Spain’s northern Navarre region. The joint venture has borne fruit: now any person – whether a private individual or a self-employed worker – can sign up as a customer, from anywhere and at any time, by simply sending the bank a photograph and video.
World Finance Magazine and European CEO Magazine pay tribute to the BBVA unit’s achievements in customer experience and digital transformation. Garanti has been named as “the Best Retail Bank in Turkey” by World Finance Magazine and as “the Best Retail Bank in Europe” by European CEO Magazine in recognition of the quality of customer experience it delivers, the digital transformation of its branches and innovative projects and solutions such as its instant e-commerce loan.
BBVA’s venture capital investment unit, Propel Venture Partners, is participating in a new funding round by an app-based business dedicated to helping US workers with flexible working lives.
International investment in infrastructure projects continues to be insufficient. This is the conclusion reached at the B20 summit where global companies provided guidance to the G20. According to the task force charged with studying growth and infrastructure financing, the infrastructure investment gap needs to be resolved to exploit the sector’s enormous potential and drive more inclusive development.
In May 2018, the Federal Bureau of Investigations released its 2017 Internet Crime Report from its Internet Crime Complaint Center, or IC3. According to the report, in the last year, $1.42 billion in total losses was reported, all attributable to Internet crime. The crime reporting the biggest monetary loss was related to Business Email Compromise/Email Account Compromise (BEC/EAC).
The European Union is already readying itself for the possible exit of the United Kingdom from the European club without an agreement between the two sides. Although no scenario has been ruled out, Miguel Jiménez, the chief economist for Europe at BBVA Research, argued in a recent article published in El País that “a no-deal exit in March, with no transitional period, is no longer inconceivable”. In his opinion, this would be the worst possible outcome of Brexit.
The European Central Bank in 2018 began the turnover process in a number of key posts on its Executive Board. The crux will be the end of Mario Draghi’s term in office in October 2019 amid doubts about whether his departure will coincide with a hike in interest rates expected between the summer and the fall of next year.
As Jorge Soto noted in conversation with BBVA, increasing connectivity is making developing economies a hotbed of innovation in financial services: “It is empowering startups to create relevant solutions to the bigger and more significant challenges that still exist in those markets, which have largely already been solved elsewhere.”
Spain has just become one of the few countries in the European Union with a concrete proposal for launching a regulatory sandbox. The goal? To create a space for experimentation, temporarily unencumbered by regulatory measures, to promote innovation in the financial sector. In doing so, Spain thus has stolen a march on other countries in this area, with a proposed law that appeals to both the traditional financial industry and new fintech startups. Álvaro Martín, Chief Economist for Digital Regulation and Trends at BBVA Research helps us understand how it will function and if it benefits the consumer.