The Cenyt Case
Current situation – Cenyt case
We reiterate our firm commitment to clarifying the facts and complying with the law.
BBVA has been providing information related to this case since its inception, even before the investigation number 9 was opened at the Spanish National High Court.
BBVA’s original forensic lines of investigation have been completed, without prejudice to other lines of investigation that could be initiated while the judicial investigation is underway. The relevant findings of such forensic investigation have been proactively shared with the authorities. The bank is not authorized to publicly disclose this information due to the ongoing judicial investigation.
In this preliminary phase of the process, declaring a legal entity (BBVA) or any individual as an investigated party, does not imply in any way that a formal accusation for any crime has been made.
As of today, the case has had no direct impact on our business, investors or the stock performance.
“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.”
“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.
“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.
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.”
During BBVA 1Q19 earnings presentation, BBVA CEO Onur Genç says that “the internal investigacion is underway.” He also explains that the “judicial process prevails over any other initiative.”
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”.
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.
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.