Current situation – Cenyt case
Our priority is to cooperate with the judicial authorities in clarifying the facts.
BBVA has proactively shared with the Court all the relevant documents obtained from the investigation, carried out by Garrigues, Uría Menéndez and PwC. In the future, new lines of investigation may be opened, while judicial proceedings are underway.
Cooperation with the authorities is crucial as the fundamental investigation, the one that prevails over any other initiative and must elucidate what happened, is the one being carried out by the Spanish High Court. Justice has its own deadlines and it’s important to let the courts do their work, and not make parallel judgments.
In this preliminary phase of the proceedings, being declared as an investigated party does not imply that a formal accusation for any crime has been made. BBVA pleads that the entity bears no responsibility for the facts under investigation.
During 2019, improvements in the corporate governance model and in the internal control model have been promoted. Additionally, certain measures affecting several employees have been adopted, following the pertinent internal procedures.
Looking forward, 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.
As of today, BBVA has not identified any relevant or direct impact on its business, its investors or stock performance due to this situation. Additionally, the bank’s reputation remained stable in 2019 compared to the previous year.