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Carlos Soria

Carlos Soria

Garanti BBVA continues to enhance its offerings, simplifying life for customers by integrating vehicle-related products and services into a single platform with the "My Vehicle" feature on Garanti BBVA Mobile, the most widely used banking app in Türkiye. Customers can add their license plate information to Garanti BBVA Mobile to track all transactions, expenditures, and campaigns related to their vehicles in one place.

Garanti BBVA Digital Assets, the first initiative of Garanti BBVA Financial Technologies Inc., is now offering crypto wallet service on its mobile platform. This marks the first time in Turkey that a bank subsidiary has developed and implemented a crypto currencies wallet with its own resources. Garanti BBVA Digital Assets now allows customers to transfer and store bitcoin (BTC), Etherum (ETH) and USD coin (USDC) assets on its mobile platform, Garanti BBVA Crypto.

The BBVA CEO indicated this Wednesday that creating value is the bank’s main priority and guides the way in which BBVA manages its business. At an investors conference organized by Goldman Sachs in Madrid, Onur Genç said that BBVA’s commitment to optimal capital allocation is what distinguishes the bank from its peers in the markets where it operates.

BBVA has received the 'Alcance 3.0' award for the 'Best Comprehensive Scope 3 Emissions Reduction Strategy'. This award, presented by the CPOnet Group, recognizes the efforts of organizations that help reduce emissions in their value chain: suppliers, customers, employees, partners, shareholders and society.

The challenge of diversity is one of the key transformation pillars for any company. In the case of BBVA, ensuring a diverse workplace, in the broadest sense of the term, allows the company to better address the needs of its diverse customer base and offer a more comprehensive service.

BBVA has convened an Extraordinary Shareholders’ Meeting on July 5th¹ at the Euskalduna Conference Center in Bilbao. The bank is proposing to its shareholders the capital increase needed to proceed with the share exchange with Banco Sabadell. This capital increase will consist of issuing new BBVA shares that will be given to Banco Sabadell shareholders who take up the offer. BBVA shareholders are not required to make any disbursements.

BBVA is expanding its intermediate emission reduction targets for 2030 to two new sectors: the real estate sector in Spain and the global aluminum industry. They join the list of targets for eight emission-intensive sectors previously set by the bank (oil & gas; power generation; automobile; steel; cement; coal; aviation and shipping).

BBVA's decarbonization targets: What do they mean and what is their scope?

BBVA tapped the market this Wednesday with a €1.75 billion senior preferred debt issue, structured in two tranches. Demand was double the final placement, with orders reaching €3.5 billion. The first tranche, with a three-year maturity (June 2027), closed at a rate of three-month Euribor +45 basis points (versus an initial price of three-month Euribor +70 to 75 basis points). The second tranche, with a six-year maturity (June 2030), closed at the mid-swap rate + 75 basis points, versus an initial price of mid-swap + 100 basis points.

A takeover bid happens when an investor or a group of investors offers to buy shares from all the shareholders of a listed company. They usually offer a specific price for these shares or other securities that give them an ownership stake in the company.

Web components are a set of features that allow the creation of reusable elements in web pages and applications. When developing, you get fast and efficient delivery of consistent, high-quality user interfaces for all platforms. But creating web components can be tedious and repetitive, so how can we improve it? The use of some tools or libraries such as Lit makes it possible to speed up and optimise the process.

In a bid to protect its customers from telephone scams, Garanti BBVA has launched a new  feature in its mobile app to reassure customers that the calls they receive from the bank are being made via the bank’s secure channels. When taking a call from somebody claiming to represent the bank, the customer can track whether the caller is genuinely from Garanti BBVA and can see the name of the caller on the alerts screen in the mobile app.

After years at the forefront of artificial intelligence (AI)-based research and projects, BBVA has taken another big step forward in the use of generative AI in its main markets. Not only has it prioritized around 100 projects to be developed with various tools that employ this new technology, it has also signed a strategic agreement with OpenAI —the creator of ChatGPT— to start deploying this cutting-edge tool among its employees. The aim is to explore, in a safe and responsible way, how generative AI can expedite processes, improve productivity and foster innovation thanks to its abilities to create text and images and process information, among other features.

Garanti BBVA recently held its fifth ‘Sustainable Future in Exports’ meeting in Adana, Türkiye, a hub for Turkish exports. The bank is organizing the series of meetings to encourage foreign investment in the country and boost Türkiye’s export sector in the framework of the European Green Deal.  The event brought together renowned leaders and experts in the field who offered their economic analysis and insights on possible sustainable solutions.

Garanti BBVA, a leader in digital payment innovation in Türkiye, has introduced the country's first biometric verification card, the Bonus Platinum Biometric Card. This groundbreaking product, described as a "game-changing technology" in payment systems, enables users to make quick, unencrypted, and secure payments by scanning their fingerprints. It also allows for limitless secure contactless payments, setting a new standard in the industry.

“In recent years, we have been increasing our business in key sectors while reducing their emissions,” said the Global Head of Sustainability and CIB at BBVA, Javier Rodríguez Soler. “We set decarbonization targets for eight key sectors and are reducing the absolute and relative emissions of these sectors. And we are doing so while increasing our financing business with these clients,” he stated at the Institute of International Finance (IIF) European Summit in Paris.

Digital channels have become the main way banks interact with their customers, both to check information and to carry out any kind of transaction. In this context, biometrics are gaining ground as they are a safe way to verify that customers are who they say they are. “At BBVA, there are over 40 use cases on a group level in which customer identity must be identified by biometrics, one of the most secure ways to prevent fraud,” said Natalia Ortega, Global Head of Financial Crime Prevention at BBVA.

The new Salt exhibition, ‘Hava Dair’ (About the Air)  aims to give life to the social and environmental aspects of air pollution through a series of different experiments. The exhibition, which is sponsored by Garanti BBVA, was designed by the Milan-based design studio 2050+ for Salt's Beyoğlu location. It can be visited free of charge until August 18th.

BBVA completed a successful pilot test of distributed execution of quantum algorithms across multiple conventional servers in the AWS cloud. BBVA's pilot, one of the first of its kind in the financial sector, provides the bank with a proprietary architecture to further explore the use of quantum computing in complex financial tasks.

BBVA’s Board of Directors is presenting an offer to Banco Sabadell shareholders so they can benefit from an exceptionally favorable proposal. The deal offers one BBVA share for every 4.83 of Sabadell, representing a 30 percent premium over the closing price of both banks on April 29th, and a 50 percent premium over the weighted average prices of the past three months. The transaction has very positive financial impacts thanks to relevant synergies and the complementarity and excellence of both banks. The operation will create one of the best banks in Europe, with a loan market share close to 22 percent in Spain. Furthermore, BBVA will maintain its current shareholders distribution policy and its commitment to distribute any excess capital above 12 percent.

BBVA Chair Carlos Torres Vila gave the opening presentation at the BBVA Mexico's annual National Meeting of Regional Advisors 2024, the Group's flagship summit in Mexico. Addressing more than 400 business leaders, he reasserted BBVA's commitment to Mexico by announcing that the bank's investments in the country will reach 81.4 billion pesos, or around €4.45 billion, well above the amount originally foreseen in the 2019-2024 plan.

Payments infrastructure company EBA CLEARING successfully completed the first pan-European proof of concept for the R2P (Request To Pay) service. This digital messaging service is designed to streamline collection processes and can help boost instant transfers and electronic billing in the region. BBVA and seven other multinational payment service providers took part in the trial. They proved capable of exchanging payment requests in milliseconds.

At the presentation of first-quarter results, CEO Onur Genç said that BBVA expects improved profit both this year and next year compared to the same period of 2023. Specifically, "Our outlook for net attributable profit this year improves to double-digit growth. I see an even better 2025 versus 2024," he said. Genç also anticipates higher recurring revenue in the BBVA Group account in 2024, thanks to an improvement in the forecast for net interest income in Spain.

Garanti BBVA announced its financial results for the first quarter of 2024. The bank’s net income for the first three months of the year stood at TL 22.48 billion; total  assets were TL 2.46 trillion; and cash and non-cash loans reached TL 1.85 trillion. Customer deposits represented 71 percent of assets - the main source of funding. The total deposit base reached TL 1.75 trillion, up 9.3 percent this quarter.  Garanti BBVA’s capital adequacy ratio was 15.4 percent,*  its return on average equity (ROAE) was 36 percent, and return on average assets (ROAA) was 3.9 percent.

*Does not include  the forbearance introduced by BRSA