Cenyt CaseBBVA’s priority, set by the Board of Directors, is to fully cooperate with the judicial authorities in clarifying the facts. The Spanish High Court's investigation remains underway. Justice has its own deadlines and it’s important to let the courts do their work, and not make parallel judgments. In this phase of the proceedings, being declared as an investigated party does not imply that a formal accusation for any crime has been made. On the other hand, BBVA pleads that the entity bears no responsibility for the facts under investigation. In the future, BBVA will continue to act with full determination and diligence under the direct leadership of the Board of Directors, whose members have no connection whatsoever with the case. Until now, this case has not had a relevant impact on the bank’s business, on its investors or on the stock performance. Additionally, BBVA’s reputation remained stable in 2019, improved in 2020 and has remained at very similar levels in 2021.
MARCH 23, 2021
The information provided by the Police had already been made available by BBVA to the Judge and the Public Prosecutor’s Office
The report from the Spanish National Police’s Unit of Internal Affairs (UAI, in Spanish) does not provide information that had not already been made available by BBVA to the Judge and the Public Prosecutor’s Office. This, therefore, confirms the rigour and objectivity of BBVA’s investigation, as well as its full cooperation with the judicial authorities.
OCTOBER 21, 2020
BBVA welcomes the new judicial resolution
Spanish High Court’s judge Manuel García-Castellón underlines that BBVA has contributed all relevant results for the preliminary investigation, accepts the bank’s offer to make documents available, and dismisses all requests from other parties.
JULY 30, 2020
During the press conference to present 2Q20 earnings, Onur Genç said that "there are no major updates vs. what we said at the March AGM” and said that “we have repeatedly offered and made available to the judge all the documents and all the data gathered in case any further investigation is to be carried out.”
MARCH 13, 2020
“Our actions have always been in the best interest of the bank and its shareholders”
BBVA chairman Carlos Torres Vila said at the 2020 Annual General Meeting that, “in this process our actions have always been in the best interest of the bank and our shareholders”.
MARCH 9, 2020
“We need to let the courts do their work and not prejudge the facts”
In an interview published by Spanish daily ABC, BBVA’s Group executive chairman Carlos Torres Vila said: “It’s going to be a long process, so it’s important not to rush things. We need to let the courts do their work and not prejudge the facts.”
FEBRUARY 21, 2020
BBVA reiterates its commitment to clarifying the facts and cooperating with authorities in the Cenyt case
Following the lifting of the secrecy order, BBVA wishes to reiterate the main messages regarding its actions in recent months.
FEBRUARY 21, 2020
What is the PwC forensic?
The electronic forensic investigation starts with the application of a series of keywords to people’s electronic devices that, according to the information available, are thought to have had information of interest about the facts, may have had or not participation in them (the so-called ‘custodians’).
FEBRUARY 21, 2020
Justice has its own deadlines and it’s important to let the courts do their work
In an internal blog, chairman Carlos Torres Vila shared with employees, among other things, that, "Looking forward, we will continue to cooperate with the authorities, acting with full determination and diligence under the direct leadership of our Board of Directors, whose members have no connection with the case whatsoever."
FEBRUARY 20, 2020
BBVA respects freedom of the press, and rejects any practice infringing the law
In response to a statement released by three Spanish press associations, BBVA states that it deeply respects the work of the media and their important role in society, and therefore, it rejects any practice that infringes their fundamental rights, the freedom of information and the freedom of speech
JANUARY 31, 2020
“What matters is the judicial investigation”
In the press conference presenting the bank’s 2019 earnings, BBVA executive chairman Carlos Torres Vila stated that the bank's priority has always been to clarify the facts and cooperate with the authorities. "We want the facts to be clarified and to that effect, what matters is the judicial investigation."
DECEMBER 11, 2019
BBVA concludes its declaration at the Spanish National High Court
BBVA’s legal representative Adolfo Fraguas today concluded the bank’s declaration before the Central Investigating Court number 6 of the Spanish National High Court. As he did in previous declarations, Fraguas responded extensively to all questions posed, and pleaded that the bank bears no responsibility for the facts under investigation.
NOVEMBER 20, 2019
BBVA testifies at the Spanish National High Court, and responds to all questions
Adolfo Fraguas, the bank’s representative in this process and head of Legal Services at BBVA Spain, responded to all the questions posed by the judge and the prosecution, and pleaded that the bank bears no responsibility for the facts under investigation.
OCTOBER 31, 2019
“Our reputation has remained stable”
During 3Q19 earnings presentation, BBVA CEO Onur Genç said that reputation is not something easy to measure as it is an intangible asset. However, based on the RepTrak methodology the financial sector uses, “our reputation has remained stable” in 2019 compared to the previous year, he said.
JULY 31, 2019
“As of today, this situation has had no direct impact on our business”
“During BBVA 2Q19 earnings presentation, BBVA CEO Onur Genç says that “as of today, this situation has had no direct impact on our business, investors or the stock performance.”
JULY 29, 2019
“Our priority is to clarify the facts and cooperate with the authorities”
“The judge declares BBVA under investigation. BBVA chairman Carlos Torres Vila reiterates that the bank’s priority is to clarify the facts and cooperate with the authorities.
JULY 24, 2019
BBVA has shared relevant findings with the authorities
“Following the request from Spanish Public Prosecutor’s Office’s to declare BBVA as an investigated party, BBVA chairman Carlos Torres Vila reiterates his firm commitment to clarifying the facts and complying with the law, for which the bank will continue to actively cooperate with the authorities.
JULY 22, 2019
“Our investigation is progressing at a good pace”
In the first post of an internal blog, BBVA chairman Carlos Torres Vila communicates messages about the Cenyt case, among other topics, to the employees.
JUNE 17, 2019
“I am not permitted to comment anything about actions that are subject to a judicial investigation”
During the opening of the course organized by the Spanish Association of Financial Journalists (APIE) at the Menéndez Pelayo International University in Santander, BBVA chairman Carlos Torres Vila explains that “the investigation is under secrecy order”, and therefore, “I am not permitted to comment anything about actions that are now subject to a judicial investigation.”
APRIL 29, 2019
“The judicial process prevails over any other initiative”
During BBVA 1Q19 earnings presentation, BBVA CEO Onur Genç says that “the internal investigation is underway.” He also explains that the “judicial process prevails over any other initiative.”
MARCH 15, 2019
“The legal proceedings are subject to secrecy and we are not able to reveal any information”
During his presentation at the bank’s Annual General Meeting, the BBVA executive chairman reiterates the bank’s commitment to cooperating with the authorities and says that “the legal proceedings are subject to secrecy and we are not able to reveal any information”.
FEBRUARY 1, 2019
“BBVA has been, is, and will continue to be an honest bank”
During the 4Q18 earnings presentation, BBVA’s executive chairman Carlos Torres Vila asserts that the bank will act with absolute rigor and diligence. Furthermore, he explains that the internal investigation has to run its course.
JANUARY 14, 2019
“My priority is to clarify the facts”
In a letter addressed to all BBVA Group’s employees, executive chairman Carlos Torres Vila affirms that his priority is to clarify the facts, and he confirms that the scope of the internal investigation has been broadened.
JANUARY 10, 2019
BBVA will adopt measures and will cooperate with the authorities
BBVA says that with regards to media reports related to Grupo Cenyt, which if found to be true would be extremely serious, the bank will adopt the pertinent measures, and will continue to cooperate with the authorities.