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Board of directors 12 Feb 2018

BBVA to appoint three new independent board members

BBVA will propose the appointment of Jaime Caruana, Ana Peralta and Jan Verplancke as independent board members at its Annual General Meeting. With these new additions, BBVA will strengthen the board’s financial and technological capabilities. It will consist of 15 members, the majority of whom will be independent.
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Corporate information

Results: BBVA comparable profit rises 20 percent in 2017 to €4.64 billion

  • Transformation: More than half of BBVA customers in Turkey, Spain, USA, Argentina, Chile and Venezuela are already digital. As a whole, the digital customer base grew 25 percent in the year (to 22.6 million), while mobile customers grew 44 percent (to 17.7 million)
  • Record revenues: Income reached record highs in 2017. Recurring revenue grew 4.1 percent y-o-y, (+10.3percent excluding currency impact), and expenses dropped 2.3 percent in the year (+2.2 percent at constant exchange rates), boosting operating income to €12.77 billion
  • Risks: The NPL ratio continued to improve, reaching 4.4 percent (vs. 4.9 percent in December 2016), its lowest level since June 2012. Coverage at year-end stood at 65 percent
  • Capital: The fully-loaded CET1 ratio stood at 11.1 percent at the end of December, above BBVA’s target
  • Dividend: A cash payment in the gross amount of €0.15 per share, to be paid in April as final dividend for 2017, is expected to be proposed for the consideration of the competent governing bodies

BBVA’s Board of Directors has decided to propose the appointment of Jaime Caruana, Ana Peralta and Jan Verplancke as independent board members. Following the 2018 Annual General Meeting, and provided that these proposals are approved, the BBVA board will be made up of 15 members, with a majority being independent (8).

With these new proposals, BBVA seeks to promote the diversity of its board in terms of expertise, knowledge, competency and gender. This is reflected in the appointment of members with  solid international exposure and robust specialization in finance and technology, both of which are deemed highly relevant for BBVA. It also brings the bank closer to its goal of having at least 30% female board members in 2020.

The appointments are subject to the fit and proper assessments of the European Central Bank. Mr. Caruana will join the BBVA board of directors on June 1, 2018, in compliance with his commitments with the Bank for International Settlements (BIS).

Francisco González Rodríguez

Francisco González: “BBVA is moving full speed ahead”

BBVA’s digital customers are increasing in number, are more satisfied and interact more with the bank. In fact, the bank has reached its digital tipping point, at which more than 50 percent of its customers are using the bank’s digital channels in six countries (Spain, the United States, Turkey, Argentina, Chile and Venezuela). It’s a milestone that foreseeably will be reached this year by more of the countries where BBVA operates. Indeed in Davos last week, BBVA Group Executive Chairman Francisco González predicted the Group’s customer base as a whole will pass the 50 percent tipping point in 2018.

Jaime Caruana (Spain, b. 1952) has had an extensive career, including high-level positions in central banks, international organizations and the private sector. Between 2009 and 2017, he was General Director of the Bank for International Settlements (BIS). He was also Head of Monetary, Capital Markets and Financial Counselor for the General Manager of the International Monetary Fund (IMF). Mr. Caruana also chaired the Basel’s Banking Supervisory Committee (BIS), was Governor of the Bank of Spain and a member of the Governing Council of the European Central Bank. Previously, he was General Manager of Banking Supervision at the Bank of Spain, General Manager of Treasury and Financial Policy, Bank of Spain's and director of the Spanish regulator, the National Securities Market Commission (CNMV). Mr. Caruana was also Spanish representative in the Monetary Committee of the European Union and Director of the Spanish Net Equity Stakes. Previously, he was General Director and CEO of Renta 4 and its investment fund manager.

Ana Peralta (Spain, b. 1961) has held several senior positions in Spanish financial institutions. She was Chief Risk Officer and a member of the management committee of Bankinter (2004-2008) and of Banco Pastor (2008-2012), and an independent director at Banco Etchevarría (2013-2014). Since 2012, she has been senior advisor at Oliver Wyman Financial Services. In 2014, she was appointed as independent member of the board of director sat Deutsche Bank Spain. She is also an independent director at Grenergy Renovables S.A. and two companies of Grupo Lar.

Jan Verplancke (Belgium, b.1963) has solid experience in the field of information technology and banking. Between 2004 and 2015, he was Director and Chief Information Officer with Standard Chartered Bank, and Group Head of Technology and banking operations in Singapore. Previously, he was vice president of Technology and Chief Information Officer for EMEA with Dell. He also held several senior positions in technology with Levi Strauss.

Other proposals

The AGM will be held in Bilbao on March 16, 2018 as notified in the Relevant Event sent to Spanish regulator CNMV. In addition to the above-mentioned appointments, the agenda includes the approval of BBVA’s annual financial statements for 2017.