BBVA USA highlighted the work its employees do to share knowledge and empower community members through financial education in its recent submission to the Boston College Corporate Citizenship Film Festival.
How to read a bank balance sheet?
How to read a bank balance sheet?
BBVA is celebrating the World Day for Reducing CO2 Emissions by reaffirming its environmental policy to develop a more sustainable economy. BBVA has committed to be neutral in terms of CO2 emissions in 2020. As of January 1st, it has assigned an internal price for its emissions, thus incorporating this factor into decision-making processes, as BBVA Group Executive Chairman Carlos Torres Vila recently announced. This measure is part of BBVA’s broader effort to align its activity with the Paris Agreement and cut its direct and indirect emissions. BBVA will light its Madrid headquarters building in blue in commemoration of this international day.
To calculate a bank’s relative productivity, the market uses what is called an efficiency ratio. This indicator calculates the income earned for the expenses required to achieve said income over a given period of time. An institution’s efficiency ratio, expressed as a percentage, is the result of the ratio between operating expenses and the gross margin. For example, if the efficiency ratio is 60% it means that to earn 100 euro, an institution needs to spend 60. Therefore, the lower the percentage, the more efficient the institution.
Holvi, the BBVA-owned digital banking specialist for self-employed business owners, has announced it is expanding into its third core market – the United Kingdom.
The numbers have spoken: women represent less than 30 percent of those registering for higher education degrees in science, technology, engineering and mathematics (STEM) fields. UNESCO data show that female scientists make up 28 percent of all scientists on a global level. This gap begins in the early years of girls’ education, when they start to distance themselves from sciences. How can we change this trend?
BBVA’s Group executive chairman participated in a debate organized by CNBC at Davos to discuss what financial institutions can do to mobilize resources for a more sustainable development. Carlos Torres Vila pointed to the bank’s commitment – not only to mobilize resources, but to accompany its clients in this change. “Advising our clients in their environmental transition is an integral part of BBVA’s strategy,” he said.
2019 has seen the first 5G networks rolled out and the first achievements in quantum computing, as well as the establishment of various financial initiatives using blockchain. These three technologies will mark a before and after in the banking sector in the years to come.
Digital, in a lot of cases of innovation, means convenience and mobility.
The region’s economy grew by 0.6% in 2019, one tenth less than in 2018 (1.6%), and below the forecasts at start of the year, which put growth at 2.1%. Improvement of the global context, supported by the agreement between the US and China, the trend toward expansive monetary policy, and reduced financial volatility will all help to stabilize the economy.
BBVA USA received a perfect score of 100 on the 2020 Corporate Equality Index (CEI), the nation’s premier benchmarking survey and report on corporate policies and practices related to lesbian, gay, bisexual, transgender and queer (LGBTQ) workplace equality, administered by the Human Rights Campaign (HRC) Foundation. The bank joins the ranks of over 680 major U.S. businesses that also earned top marks this year.
The BBVA Foundation presented Michael Hall and David Sabatini the Frontiers of Knowledge Award in the Biology and Biomedicine category for discovering the main regulator of growth in animal cells. This mechanism, a molecular pathway called mTOR, opens the door to new treatment options for cancer, diabetes and aging.
According to the results of the Academic Ranking of World Universities (ARWU) 2019, with 13 out of the world’s top 20 universities, the United States is, yet another year, the world’s academic powerhouse in computer science. Computer Science is a booming tech field. Demand for specialized talent, for example in artificial intelligence, has skyrocketed more than 400 percent since 2010.
- Building Up: BBVA USA announced its involvement in a new 60-story, multi-use tower in downtown Austin.
- Enhancing Answers: BBVA USA announced that it was one of a few firms to beta test Yext Answers, a new search product for websites.
- Delivering Cheer: The BBVA Foundation teamed with its nonprofit partners to spread holiday joy to families participating in its financial education program.
Bloomberg’s Gender Equality Index has once again included BBVA in its annual report analyzing companies’ commitment to this issue. The bank is one of 325 companies listed in this edition, of which over one third come from the financial industry. Garanti BBVA, the Group’s subsidiary in Turkey, is also part of the index.
Convinced that “copy paste” is the foundation of art, writer and artist Austin Kleon has turned his thesis into a way of life. He defines himself as “a writer who draws”. His first best seller “Newspaper Blackout” is a book of poetry, which he created by re-editing newspaper articles with a permanent marker. “They look like haikus made by the CIA,” Kleon jokes.
2020 will be another exemplary year for the environmental, social and governance (ESG) bond market, with issuances expected to reach record levels, and the potential for innovative new structures in this growing asset category, BBVA Global Markets Research analysts say.
The European Investment Bank (EIB) and BBVA are joining forces to provide financing on favourable terms for Spanish SMEs. EU bank Vice-President Emma Navarro and BBVA CEO Onur Genç signed an agreement today in Madrid enabling the Spanish bank to provide EUR 600m to support the investments of small and medium-sized enterprises (SMEs). With this agreement, BBVA will be able to offer them favourable financing in terms of both maturity and interest rates.
Carbon Disclosure Project (CDP), the world’s main platform for environmental information, has included BBVA in its “category A-”, consisting of leading companies in the fight against climate change. The bank has improved its rating in the past three years and is now in the top category: Leadership (A).
The B20 – or “G20 for businesses” – is a forum of private international companies that provides recommendations to the G20 to address the most relevant challenges of the global economic and financial agenda. This year, Saudi Arabia will preside over the meeting. BBVA has played a very active role in the B20 since 2015, thanks to BBVA Executive Board Member José Manuel González-Páramo, who serves as Vice Chair of the Finance and Infrastructure Task Force.
The use of quantum algorithms in artificial intelligence techniques will boost machines’ learning abilities. This will lead to improvements in the development, among others, of predication systems, including those of the financial industry. However, we’ll have to wait to start these improvements being rolled out.
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.”
A new toolkit designed to explain the power of artificial intelligence (AI) and to standardise its use has been launched by the World Economic Forum with help from BBVA.
A total of six community organizations in the Bryan-College Station area were awarded a sum of $22,500 in grants from the BBVA USA Foundation during a breakfast presentation on Thursday.
Larry Fink, CEO of BlackRock, warns that his asset management company (the world’s largest) will take action against investee companies that do not consider sustainability. “We will be increasingly disposed to vote against management and board directors when companies are not making sufficient progress,” he warns in his annual letter to the CEOs of the world’s leading companies.
What is stoicism and how can it help us manage a life crisis? A doctor and professor of philosophy, Massimo Pigliucci faced a critical juncture with the death of his father and undergoing a divorce. He looked to the ancient philosophers for answers and discovered “virtue ethics,” an approach to life that advances human improvement through the development of values.
BBVA is one of the top five European banks with the strongest commitment to sustainable finance, according to a report produced by World Resources Institute (WRI). The bank takes the top position in Europe and the third worldwide, when considered by asset size.
Garanti BBVA is the only private Turkish bank participating in Turkey’s blockchain network, the BiGA Digital Asset Transform Platform, developed by Istanbul Clearing, Settlement and Custody Bank (Takasbank). For the first time, Garanti BBVA carried out blockchain transfers in real time with other participating banks.
BBVA’s ecosystem of innovation and fintech talent was key to the success of Lucas. This startup, which facilitates access to the purchase of a home, was able to find its main partners, develop a platform and launch its product on the market thanks to its access to BBVA Open Space’s network of contacts and advice. Now the startup is preparing for its first round of seed funding.
Dillan Knudson has taken somewhat of a circuitous route throughout his career in the financial industry – and beyond – leading to his recent appointment as BBVA Houston CEO.
In its latest Spain Economic Outlook report – presented today by Jorge Sicilia, Director of BBVA Research and Chief Economist of BBVA Group, and Rafael Doménech, Head of Economic Analysis – BBVA’s research unit upheld the scenario it forecasted three months ago, which envisages a slowdown in Spain’s domestic GDP growth rate to 1.6% in 2020 from the 1.9% rate measured at 2019 year end. For 2021, a slightly more favorable international environment could result in a slight uptick in growth, with rates reverting to the 1.9% range. According to BBVA Research, this scenario would drive the creation of 600,000 jobs over the 2020-2021 timeframe, driving the unemployment rate down to around 12.5 percent, in average, in 2021.
This year marks the 50th anniversary of the World Economic Forum, popularly known as the Davos Forum. The event kicks off on January 21 in the Swiss district of Davos-Klosters. For half a century, this forum has brought together politicians, businesspeople, and representatives from social and cultural organizations in order to find solutions for the world’s problems. 2020 sees the launch of a new ‘Davos Manifesto’ with the single objective of building a more sustainable, inclusive world.
We interview Hector Chacon BBVA USA Global Wealth Executive
The new year kicked-off with a deluge of corporate issuances. Last week Europe’s bond market had its biggest week ever, with sales of new bonds totaling over €90 billion. Financial institutions accounted for approximately half of the total (€43 billion). BBVA issued two bonds that were warmly welcomed by investors.
For the third year in a row, Garanti BBVA won the awards for the “Best Mobile App” in Turkey and the “Best Consumer Digital Bank” in Turkey at the 2019 World Finance Digital Banking Awards. This recognition demonstrates once again that Garanti BBVA is a leader in the banking sector, with innovative digital banking products and services.
BBVA has partnered with the authentication solutions company Nok Nok Labs — one of the driving forces behind the new FIDO (Fast Identity Online) standard aimed at strengthening the security of biometric systems on mobile devices. The agreement is part of BBVA’s strategy to improve the security and user experience of its mobile banking services through state-of-the-art biometric capabilities.
The new Fast Identity Online (FIDO) standard reinforces the security of online identity authentication systems on mobile devices and web applications. Its goal is to replace the exclusive use of passwords with more secure biometric authentication mechanisms that are protected by encryption systems.