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Carmen Álvarez

Today

18 Dec 2023

Davos will be held in Switzerland from January 15th - 19th with the theme ‘Rebuilding trust’. The event organized by the World Economic Forum will bring together over 100 governments, major international organizations and around 1,000 companies, as well as civil society leaders, renowned experts, young agents of change, social entrepreneurs and the media. Davos 2024 is an opportunity to reflect on the key challenges facing the world, marked by the geopolitical tensions of recent years, but also by the trends that will define the future, such as the decarbonization of the economy and artificial intelligence.

17 Jan 2023

After a 2022 shaped by the developments in the Basel III framework, post-COVID regulation or the first European banking climate stress tests, 2023 is looking set to be a key year in terms of digital regulation. Thus, the regulatory framework for cryptoassets and the digital euro will be two of the major issues on the agenda in the coming months. There are also expectations that the Basel III regulation will be finalized, that progress will continue to be made in sustainability and that proposals will be presented in Europe to improve the crisis management framework.

10 Jan 2022

The finalization of Basel III, post-COVID regulation, artificial intelligence and the crypto world, or international coordination in the supervision of sustainable finance are some of the trends that will mark the regulatory agenda in 2022. Santiago Fernández de Lis, Head of Regulation at BBVA, reviews the keys to financial regulation in the year that has just begun.

25 Jun 2021

26 May 2021

Digital identity enables people, businesses and governments to interact in the digital world. It also facilitates remote transactions - e-commerce, payments or taxes - and access to sensitive services, such as healthcare, accelerated by the pandemic. Therefore, citizens and businesses should be able to use a digital ID, valid within and between countries. Banks, with extensive experience in creating digital identification processes for their customers in a highly regulated environment, could be key players in future internationally accepted and reliable digital identification systems.

26 Apr 2021

Just as every year since 2012, BBVA has voluntarily released its Global Tax Contribution report. In 2020, the Group carried out an additional exercise of transparency including, for the first time ever, non-financial public information in standard GRI 207. This standard allows entities to disclose comparable information regarding their fiscal strategy, governance model and tax risk management, as well as their contribution on a per country basis. Overall, BBVA Group’s worldwide tax contribution in 2020 amounted to €8.33 billion.

19 Apr 2021

The Shareholders' General Meeting (also known as the Annual General Meeting or AGM) is one of a company’s primary corporate governance vehicles. During the Meeting, the company’s owners (the shareholders) ratify decisions on topics determined by law and by the corporate bylaws. The AGM includes particular features that are established by corporate law.

23 Dec 2020

In 2020, BBVA took a step forward to protect its employees and support its customers and society as a whole, to cope with the COVID-19 crisis. In a year marked by the virus, the bank has launched initiatives across the world to alleviate the financial burden of those worst hit by the pandemic and provide funding for the economic recovery.

02 Dec 2020

In recent weeks, BBVA has been recognized for its efforts in fiscal transparency at events, on rankings, and in reports from different fields: the consulting firm PwC, the Dow Jones Sustainability Index and the NGO Intermon Oxfam. These recognitions are the result of the bank’s commitment to customers, shareholders and employees, which are reflected every year in the publication of its global fiscal contribution report. 

26 Oct 2020

The BBVA Chairman kicked off MoneyFest, this year’s virtual edition of Money2020. In an interview with Spriha Srivastava, Executive Editor overseeing the London Newsroom of Business Insider, he shared his insights into the trends that the pandemic has accelerated, such as digitization and sustainability. Carlos Torres Vila considers that this crisis can be an “opportunity to reset our world.” In this sense, he noted that the “infusion of public funds must contribute to achieve a more digital, sustainable and inclusive society.”

26 Jun 2020

23 Jun 2020

15 Jun 2020

Neither Google, Samsung, nor Amazon are banks. Yet they all provide financial services, specifically in the areas of payments and money transfers. Even Facebook is making plans for its own currency, Libra. Financial regulation needs to respond to the challenges of a changing landscape: fintech startups are paving the way for digital ecosystems while the Big Tech are taking steps to penetrate what has traditionally been banking territory.

12 Jun 2020

According to last week's data on credit and debit card spending, consumption has recovered in regions where pandemic restrictions have been lifted. This improvement is observed in the U.S., Turkey and Spain, and in recent days in Latin America. In Spain, increased spending has been seen in those regions that first moved into phase two of the country's reopening. BBVA Research points out that there was also an increase in ATM cash withdrawals.

09 Jun 2020

The relaxation of pandemic restrictions has given consumption a boost in those Spanish regions that first moved into phase two of the country’s reopening. BBVA Research's weekly analysis measuring debit and credit card spend reveals that for regions remaining in phase one, previous consumption improvements (coming out of the transition from phase zero to one) stalled, with declines last week of May standing firmly at between 10 and 15 percent.

08 Jun 2020

During the coronavirus crisis, digital functionality has been critical for keeping the financial system up-and-running and facilitating quality customer care under extraordinary circumstances, even while the pandemic dictated minimal physical contact. This represents a sign of success for the sector’s digitization efforts and should also serve to make further regulatory progress.  So concluded a virtual meeting dedicated to Europe's future digital finance strategy, ‘Digital Finance Outreach,’ organized by the European Commission in collaboration with Spain’s Treasury Department.

26 May 2020

Fewer mobility restrictions are beginning to bear fruit and some countries are starting to show signs of recovery, although at different speeds. The U.S. Sunbelt and Turkey are leading the way. In Spain, lifting the lockdown restrictions in different phases is leading to unequal recovery among the regions. These are the main conclusions of a weekly study that analyzes the dynamics of expenditures in the countries where BBVA operates during the COVID 19 pandemic.

24 Mar 2020

True to its commitment to customers and clients, shareholders and employees and in compliance with its fiscal transparency pledge, BBVA has released its Total Tax Contribution report, as it voluntarily does every year since 2011. BBVA's fiscal strategy is aligned with the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and the UN Sustainable Development Goals and the protection of Human Rights.

20 Mar 2020

The spread of coronavirus to several countries has led to a very charged reaction in the markets. The World Health Organization’s declaration of a global COVID-19 pandemic led to a number of immediate actions from the central banks and, concretely, the European Central Bank (ECB), as well as governments and other authorities in Europe. In a note, BBVA Research indicates that “the adoption of these measures is positive.” However, it feels that the monetary policy measures should be accompanied by a coordinated fiscal response from the European Union, which has already begun to materialize in Europe with similar stimulus plans between different countries.

09 Mar 2020

The BBVA Annual General Meeting will be held in Bilbao next Friday, March 13. The shareholder meeting (or AGM) is one of a company’s primary corporate governance vehicles. During the meeting, the company’s owners (the shareholders) ratify decisions on topics determined by law and by the corporate bylaws. The AGM includes particular features that are established by corporate law.

04 Feb 2020

On Friday,  January 31st, BBVA presented its 2019 results. The net attributable profit for the fourth quarter - excluding the impact from the goodwill adjustment in the U.S. - was 10 percent higher than consensus forecasts thanks to a higher net interest income and net trading income (NTI).  In terms of the breakdown by geographic areas, Spain, Mexico and Turkey stand out for their strong performance.

17 Dec 2019

19 Nov 2019

28 Oct 2019

With earnings season in the banking sector underway, it may be the right time to take a look at some of the most commonly used, but more frequently misunderstood, financial terms. One of these terms is the expression 'positive jaws,' which has been used, for example, by BBVA CEO Onur Genç during the quarterly results presentations.

17 May 2019

16 May 2019

29 Apr 2019

24 Apr 2019

Carlos Torres Vila studied at the prestigious Massachusetts Institute of Technology (MIT), which is where he gave his first interview since becoming BBVA's Executive Chairman. He was in Boston to present OpenMind’s new book, 'Towards a New Enlightenment? A Transcendent Decade’ and sat down with the Spanish newspaper, ‘El Mundo,’ to discuss the explosion of technology in the banking industry. He believes data is fundamental: "It is crucial that the data revolution is universal. The most vulnerable in society cannot be left behind.”

22 Apr 2019

As the General Manager of the Bank of International Settlements (BIS), Agustín Carstens, said, “New technology is not the same as better, or more efficient technology.” However, you don’t have to be a techno-optimist to recognize that the evolution of technology is unstoppable and improvements can be expected to address things like the volatility of cryptocurrencies. In fact, solutions are already being considered for this problem, such as stable digital currency, or “stablecoins”.

15 Apr 2019

In general, businesses use the customer data they access for internal purposes, creating value-added services. Yet, there is greater potential for society as a whole beyond corporate “closed doors.” Public-private sector collaboration using data sources for external initiatives can produce significant benefits. For example, a door could be open that would facilitate the use of data to help fulfill the United Nations 17 Sustainable Development Goals (SDGs).

11 Apr 2019

08 Apr 2019

Current progress in finalizing the Banking Union has been insufficient. There are still a number of elements to be settled, fundamentally resolution, insolvency, and the deposit guarantee scheme. “It will not be easy to reach an agreement on the most important aspects prior to the European elections for parliament, but it is critical to do so as soon as possible to avoid jeopardizing member countries’ commitment to the Banking Union,” maintains José Manuel González-Páramo, BBVA executive board member.

05 Apr 2019

The Juncker Plan, which was launched in 2004, has helped reduce the investment gap caused by the economic and financial crisis. Looking forward to the next decade, Europe should focus on a two-pronged strategy: implementing a greener sustainable investment model and backing key digital capabilities. According to BBVA's executive board member, José Manuel González-Páramo, Europe must develop a forward-looking sustainable finance model.

01 Apr 2019

Mario Draghi reiterated this week that the ECB could tentatively delay the planned rate hike until next year. At a conference in Frankfurt, Draghi responded to banks’ concerns by saying negative rates could impact bank profitability, although it “is not an inevitable consequence.” Given these statements, we asked Olga Gouveia, Lead Economist for Financial Systems at BBVA Research, what is the impact of the decision to keep negative interest rates. In her opinion, it is reasonable the precautionary tone of the ECB, provided that there is a planned hike on the horizon.

26 Mar 2019

NASA's Space Apps Challenge, one of the world’s most popular hackathons, has, once again, awarded a group of Spaniards, in this case the time behind ‘Galaxy Quest.’ The project helps processing real data collected by the Hubble telescope through a 'gamification' process.  But not only that:  It is the first step in developing an artificial neural network using these data, and a new communications channel between NASA and users.  José Luis Martín-Oar, service designer at BBVA and one of the team’s members, tells us everything about the project.

BBVA Group paid €4.5 billion in worldwide tax on its own business activities in 2018, 10 percent more than in 2017. According to BBVA’s Total Tax Contribution Report, its total contribution (which is the total of the bank's taxes and those made on behalf of third parties) rose to €9.8 billion. Since 2011 BBVA, in accordance with its commitment to transparency with customers, shareholders, employees, and society as a whole, has voluntarily released its tax information.

21 Mar 2019

One lesson from the crisis is just how important it is for international standards like Basel to be applied uniformly across countries. Furthermore, decisions related to compliance with standards, such as equivalence or mutual recognition through which countries declare that their regulations are aligned, should not be left to the full discretion of national authorities. Reports international authorities already carry out could be used for this purpose, allowing countries in adherence with the standards to receive equivalence, or mutual recognition.

14 Mar 2019

11 Mar 2019

In 2019, the Business 20 (B20) – considered to be the private sector’s voice of the G20 – is seeking to showcase innovative projects that contribute to the fulfillment of the United Nations’ Sustainable Development Goals (SDGs). To this end, business members of this advisory body to the G20 have submitted proposals for projects that make a significant social impact. BBVA is the only Spanish bank whose five project submissions are among those selected.

08 Mar 2019

All eyes were on the possibility yesterday that the European Central Bank (ECB) could make changes in the forward guidance on rate and on a potential announcement of new liquidity measures. And Mario Draghi didn’t disappoint: he answered both questions. He announced that the ECB will keep interest rates on hold until at least the end of this year and another series of auctions of long-term liquidity. BBVA Research has just released an ECB Watch report covering and assessing the measures announced by Draghi.

21 Feb 2019

Every parent has been in this position: the baby cries and cries, and we don’t know why. Is it hungry? Is it tired? Ana Laguna, data scientist at BBVA Data & Analytics, asked herself the same questions when her first child was born. Ana looked for an app that would help her understand why her baby was crying.  But she didn’t have any luck. Then she thought she could translate her baby’s crying and understand what it needed any time by using the artificial intelligence techniques that she uses everyday at work.

06 Feb 2019

BBVA’s commitment to technology has translated into an increase in the number of digital customers, which now represent more than 50% of the bank’s total customers, as well as climbing digital sales, now comprising 41% of all sales. But this digital journey means much more. Digitization has also contributed to greater customer satisfaction and a diminishing drop-out rate - 47% lower among digital customers.

01 Feb 2019

29 Jan 2019

Google recently obtained a payment license in Ireland and Lithuania in order to offer payment services. Alipay, the financial division of Alibaba, received a similar license in Luxembourg. Facebook has had one since 2017. These licenses open the door to Internet giants operating as payment service providers across Europe, allowing them to manage card payments and transfers, for example. Is this merely the first step to them becoming banks?

25 Jan 2019

Banks play a fundamental role in the planet’s sustainability due to their ability to finance sustainable activities and manage risks. This was the main topic discussed at a panel in Davos, Switzerland in which José Manuel González-Páramo participated. BBVA’s Executive Board Member and Head of Global Economics and Public Affairs encouraged all banks to join the Principles for Responsible Banking to press for this change. In his opinion, these principles give banks the opportunity to demonstrate their commitment to society.

18 Jan 2019

26 Dec 2018

Francisco González was greeted warmly by the auditorium at Ciudad BBVA in Madrid where he was bid farewell with applause and a standing ovation. The bank’s executive chairman was interviewed by his successor, Carlos Torres Vila, in a memorable conversation that the Group employees could follow from more than 30 countries. After 22 years at the helm of the bank that has become BBVA, Francisco González declared that "with much effort," the legacy he leaves behind is "a bank in solid financial shape, an extraordinary project, and an absolutely exceptional team."

17 Dec 2018

Speaking at the Rome Investment Forum, José Manuel González-Páramo weighted on the future of three key projects for the European Union: the banking union, the capital markets union and the fiscal union. This discussion took place at a key moment for the European bloc, after the meetings held in the last Eurogroup, in the Ecofin and the European Council.  “During this year 2018 there has been a window of opportunity, which has clearly been missed by Europe to implement the necessary reforms,” he noted.