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Edufin Summit 2017

Edufin Summit 2017

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One day, during a talk, she conducted a simple experiment: she asked a group of scholars to close their eyes and point south-eastwards. There were fingers pointed in every posible direction. However, Lera Boroditsky knew that if she asked the same question to a girl from an Aboriginal community in Australia she would point her finger in the right direction.

Garanti BBVA and Hepsiburada, two representatives of the banking and e-commerce sector in Turkey, are collaborating to strengthen the power of Turkey's female entrepreneurs. An alliance that marks the first e-commerce platform that supports female entrepreneurship with projects such as Garanti BBVA and The Technology Power program for Entrepreneurial Women, which has been leading efforts to empower female entrepreneurs for 15 years.

At the 12th Financial Meeting organized today by Expansión and KPMG, BBVA’s CEO said that over the past year the bank has made a series of relevant strategic decisions, such as the sale of its U.S. subsidiary, the largest share buyback in Europe and the takeover bid for a 50.15 percent stake in Turkey’s Garanti BBVA. They all show that “we are very committed to shareholders’ profitability,” he added. Onur Genç also underlined the 2024 objectives that BBVA presented at its Investor Day: “Our goals are very ambitious and we are committed to achieving them.”

On November 24th, BBVA Chairman Carlos Torres Vila took part in the first session of the UNEP FI Leadership Council, the United Nations Environment Programme - Financial Initiative’s (UNEP FI) new body. BBVA is the only Spanish bank on this council, which is comprised of chairpersons or CEOs of financial institutions around the world. UN Secretary General António Guterres also addressed the council.

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As of January 2021, 12 percent¹  of BBVA’s new financing is connected to sustainability, according to the figures released on Investor Day, which was held last week. At this event, BBVA’s Global Head of Sustainability, Javier Rodríguez Soler, also announced that BBVA expects to channel over €35 billion in sustainable financing in 2021. This represents more than 70 percent growth from 2020. “Decarbonization, in particular, and sustainability, in general, represent the greatest transformation in the history of humankind,” Rodríguez Soler stressed. This phenomenon represents an “huge business opportunity” for BBVA and its shareholders.

The reform of the benchmark interest rates known as InterBank Offered Rates (IBOR) is one of the most significant financial reforms at present. It was driven by both international organizations  (IOSCO and FSB) and regulators (Benchmarks Regulation 2016/1011), with the goal of making the market more transparent and robust. This has led to the incorporation of substantial changes in the interest rates used as benchmarks in the operations of financial and non-financial institutions.

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Founded by Garanti BBVA in 2011 to support the production of knowledge, culture, and arts, SALT's 10th year anniversary activities continue with Ardışık (The Sequential) video screenings to be held at Madrid’s Museo Reina Sofía on 19-20 November. The two-day program, which will start with the participation of artists Fatma Belkıs and Onur Gökmen and the presentation of SALT Research and Programs Director Meriç Öner, will feature the works of six artists from Turkey.

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BBVA is holding its Investor Day this Thursday, when it will present its plan for the 2021-2024 period. It will focus on turning significant social and environmental challenges - like the technological disruption or decarbonization of the economy - into opportunities for profitable growth while having a positive impact on society. BBVA has released an ambitious set of objectives in terms of efficiency, profitability and tangible book value plus dividends, which it aims to reach in 2024. It also set a customer acquisition objective and reaffirmed its commitment to channel €200 billion of sustainable finance through 2025. Additionally, BBVA has increased its payout to 40-50 percent of its annual consolidated ordinary profit.

In its annual report, Intrama includes the success stories of more than 30 Spanish companies with the best practices in Diversity and Inclusion, of which BBVA is one. The global human resources consulting firm highlights the financial institution's strategic alignment of diversity policies, the communication of its projects and the training provided to its staff in this area.

A team of university students from Mexico developed an app in just three days to meet customers' needs in terms of finances, entertainment, shopping and transport. Thanks to their business acumen and the use of artificial intelligence and QR code payments, they were able to win the 2021 BBVA Hackathon, which brought together 752 participants from different countries virtually.

For the second consecutive year, BBVA has obtained the best score in the European banking category and a second place at global level in the latest Dow Jones Sustainability Index, released on Friday, November 12, 2021. This is the benchmark index for sustainability worldwide, which has singled out BBVA, among more than 200 financial institutions, for its ESG ('Environmental, Social and Governance') performance. 24 banks have been included in the index.

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BBVA has advised Holcim, global leader of building solutions based in Switzerland, on the structuring and syndication of its main bank financing, as well as on how to link the financing to environmental, health and safety indicators. BBVA acted as global coordinator and sustainability coordinator in this new syndicated revolving credit facility, the first sustainable transaction that the bank has closed in Switzerland.

BBVA Chairman Carlos Torres Vila, met this Thursday at the bank's headquarters in Madrid with the President of the Inter-American Development Bank (IDB), Mauricio Claver-Carone. This meeting is part of a series of working meetings that representatives of BBVA and the BBVA Microfinance Foundation will hold with members of the IDB. Sustainability was one of the issues on the agenda, in particular, support for the decarbonization of emerging countries, and especially in Latin America, as well as financial inclusion and the promotion of foreign investment in the region.

BBVA’s Turkish franchise is a leader in sustainable finance in its sector and plays an important role in the country’s development. In response to an invitation from the Ministry of the Environment, Urbanization and Climate Change, Garanti BBVA Vice President Ebru Dildar Edin analyzed the current status of sustainability in the world and the importance of the financial sector to support the transition toward a more sustainable economy.

The BBVA Microfinance Foundation (FMBBVA) organized ‘Connected for digital opportunities’ - an event which H.M. The Queen presided over. BBVA Chairman Carlos Torres Vila, Bank of Spain Deputy Governor Margarita Delgado and the Director General of the BBVA Microfinance Foundation, Javier M. Flores, all participated in the event. The debate focused on boosting economic recovery from a more innovative and inclusive perspective through technology.

“At BBVA, there are more than 100,000 people working in over 25 countries, with a wide range of different cultures, experiences, beliefs, languages, etc. This diversity is a fundamental part of the recipe to our success, and it will make us stronger to face the challenges and opportunities that lie before us,” said BBVA Chairman Carlos Torres Vila at the main event of the bank’s Diversity Days, a series of internal events being held for the second year in a row to share important advances in terms of diversity and inclusion, and to create a space for learning for all of the Group’s employees.

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This week, the BBVA Chairman participated in the COP26 in Glasgow, where he called for concrete commitments and credible actions from everyone, public and private sector, to move toward the decarbonization of the planet. Carlos Torres Vila pointed out the need to “increase investment” in new non-polluting technologies to fight climate change. For this to happen, private capital, and specifically banks, “play a critical role” in helping and engaging with clients in their transition towards a more sustainable future with finance and advice.