Press release

Garanti BBVA won the "Best Contact Center with More than 1,000 Employees" award in Europe, the Middle East, and Asia at the Global Top Ranking Performance Awards. The accolades, organized by Contact Center World, a leading authority in the contact center industry, drew over 2,000 entries from 80 countries. This year marked the 19th edition of the event.

The British publication also recognized BBVA as the best bank in Mexico—one of the Group's main markets— the best bank in Colombia, and the best bank for corporate clients in Spain.

Tomorrow, Friday, July 5th at 10:00 AM Central European Summer Time (CEST), BBVA will hold the 2024 Extraordinary Shareholders’ Meeting at the Euskalduna Conference Center in Bilbao. The bank has proposed to its shareholders the capital increase needed to carry out the share exchange with Banco Sabadell. This capital increase will entail the issuance of new BBVA shares, which will be given to the Banco Sabadell shareholders who accept the offer. No payments will be made by BBVA shareholders.

The President of the BBVA Foundation, Carlos Torres Vila, championed the power of knowledge during the ceremony for the 16th BBVA Foundation Frontiers of Knowledge Awards. Knowledge is the key to solving the problems we are experiencing as a society, at a moment when humanity is going through an unprecedented wave of disruption and faces the challenges of climate change, he said.

The EIB Group (European Investment Bank and European Investment Fund) has invested €377 million in the ¨BBVA Consumer 2024-1¨ securitisation fund. This investment will enable BBVA to channel nearly €800 million into the real economy to finance energy efficiency projects and new mortgages for highly energy-efficient homes. The operation also includes financing for projects to boost the competitiveness of small and medium-sized enterprises (SMEs) and mid-caps in Spain.

The Spanish Prime Minister, Pedro Sánchez; the President of Türkiye, Recep Tayyip Erdoğan; and Carlos Torres Vila, Chair of BBVA and Co-Chairman of the Spanish-Turkish Business Council, opened the Spain -Türkiye Business Meeting, which was held on Thursday at Ciudad BBVA in Madrid.

BBVA’s Board of Directors is presenting an offer to Banco Sabadell shareholders so they can benefit from an exceptionally favorable proposal. The deal offers one BBVA share for every 4.83 of Sabadell, representing a 30 percent premium over the closing price of both banks on April 29th, and a 50 percent premium over the weighted average prices of the past three months. The transaction has very positive financial impacts thanks to relevant synergies and the complementarity and excellence of both banks. The operation will create one of the best banks in Europe, with a loan market share close to 22 percent in Spain. Furthermore, BBVA will maintain its current shareholders distribution policy and its commitment to distribute any excess capital above 12 percent.

Luisa Gómez Bravo will be the new CFO of the BBVA Group. She currently is the Global Head of Corporate & Investment Banking (CIB), the group’s wholesale banking unit. Gómez Bravo will replace Rafael Salinas Martínez de Lecea, who is stepping down from his executive duties after a successful career with the bank spanning over three decades. He will continue to be involved with the Group as a board member of Garanti BBVA. Furthermore, the current Head of Sustainability, Javier Rodríguez Soler, takes on the additional role of Head of CIB.

BBVA has channeled 150 billion euros in sustainable business from 2018 to March 2023, half of the €300 billion target set for the 2018-2025 period. Nearly 14 billion euros was mobilized in the year's first quarter, an increase of almost 20 percent compared to the same period in 2022. “Quarter after quarter we are making good progress towards achieving our sustainable business goal for 2025,” said Javier Rodríguez Soler, BBVA’s Global Head of Sustainability, commenting on these results.

Students, teachers, doctors and researchers; micro-entrepreneurs, farmers and small business owners; artists and NGO volunteers... Millions of people around the world are benefitting from BBVA's social initiatives to build a better world for themselves and those around them. Their stories will be featured in the ‘Creating Opportunities Together’ initiative, a project through which the bank plans to raise awareness and recognize an effort that frequently goes unnoticed.

BBVA and the majority of the labor union representatives (CC.OO., ACB and UGT) have reached an agreement on the adjustment plan in Spain, which involves redundancies of part of the workforce (a total of 2,935 people, about 10 percent of employees of the Group in Spain) through layoffs and voluntary terminations, and an outplacement program for 100 percent of the affected employees through Randstad. The agreement also includes the closing of 480 branches. The process has been characterized by a constructive dialogue between the parties to reach the best agreement for everyone.

The BBVA Group closed today the sale of its U.S. subsidiary to The PNC Financial Services Group, Inc., announced in November 2020. BBVA will continue operating in the U.S. through its broker-dealer BBVA Securities and the New York branch – from which it will provide wholesale banking services –, as well as the fintech investment fund Propel Venture Partners.

BBVA USA today announced the opening of 11 new branches across five Texas markets, marking a major milestone in an endeavor first announced in June 2020.

The branches, opened in early May, feature updated branch models aligned with the bank’s vision of integrating both a digital and face-to-face branch banking experience for customers. The bank’s new set of branches can be found in the Houston, Austin, San Antonio, Fort Worth and Dallas markets.

BBVA shareholders backed the possibility of redeeming up to 10 percent of the bank’s share capital, equivalent to 667 million shares, with 99.6 percent of the votes at the Annual General Meeting (AGM) held in Bilbao today. This item on the agenda aims to be able to implement a relevant share buyback, as means of distribution to shareholders.

Carlos Torres Vila, Group Chairman

• Sustainability: Banks have a key role in “analyzing investment opportunities and managing the risks associated” to climate change
• Sale of the U.S. subsidiary: “We have an extraordinary position of strength, which gives us tremendous strategic optionality to continue creating value for shareholders”
• Dividend: “We propose to the AGM the approval of the agreements required to implement a share buyback plan of up to 10 percent of the Group’s shares once the sale of our U.S. subsidiary is closed”

Onur Genç, Chief executive officer

• Digitization: “Our focus on creating end-to-end digital solutions and processes has been key to reaching new clients, which is one of our strategic priorities”
• Capital: Following the sale of the U.S. subsidiary, BBVA will be “one of Europe’s best capitalized banks, with the largest margin between our capital position and the minimum requirement”
• Team: “We continue fostering inclusion and diversity, because we are convinced that it makes us better, as a company and as a society”

The Bank Insurance & Securities Association (BISA) has reaffirmed its 2021 Board of Directors, and Veronica Rink will serve her second year of her three-year term, the association announced. In addition, Rink will continue to serve on the organization's Membership Committee as well as other initiatives and task forces.

BBVA announced today the new addition of Mou Das to its Houston Global Wealth team. Das will serve as a senior vice president in the role of private banker. Her responsibilities include serving the bank’s Global Wealth clients in the Houston area through a variety of channels and advice on wealth building and management.

BBVA has agreed to sell to PNC its subsidiary in the U.S. for $11.6 billion (€9.7 billion¹) in cash, an amount that represents 19.7 times the unit’s 2019 earnings², and that is almost 50% of BBVA’s current market capitalization, creating significant value for shareholders. The transaction will have a positive impact on BBVA’s fully loaded CET1 ratio of c.300 basis points, or €8.5 billion of CET1 generation.

BBVA USA, the U.S. subsidiary of Madrid-based BBVA, today announced it is offering a digital Home Equity Line of Credit (HELOC) through its website, powered by Prosper, a leading online marketplace for consumer loans. Prosper’s digital HELOC platform, which was developed to simplify the process of applying for and obtaining a HELOC, is now available to BBVA USA customers in select states via the BBVA-branded version of the platform.

The judge 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.

BBVA USA and organizers of The World Games 2022 Birmingham today announced that BBVA will serve as the presenting sponsor of the event’s official volunteer program, adding a hometown supporter with a global presence to the upcoming international sports competition.

BBVA USA has launched a new ad campaign designed to highlight the bank’s efforts in helping people and businesses take the first steps in their recovery from the pandemic and reach financial milestones in the future.

BBVA USA is providing additional assistance across its footprint to those who have been negatively impacted by the COVID-19 outbreak, including new offers for consumers and small businesses, and specialized benefits for employees.

BBVA USA is offering special assistance to consumer and small business  customers impacted by the ongoing COVID-19 pandemic, including penalty-free withdrawals from applicable CDs, ATM fee refunds, and payment deferrals, extensions and waivers on existing loans and lines of credit, among other offers.

Carlos Torres Vila, Group executive chairman

• Excellent figures: “In 2019 BBVA posted its highest net attributable profit of the past decade without one-offs”
• New strategic priorities: We want “to improve our clients’ financial health and help them transition toward a sustainable future”
• Dividend: BBVA is proposing at the AGM a complementary gross cash dividend of €0.16 per share. The total dividend for the year stands at €0.26 per share, which reflects a 36 percent of attributable profit, excluding the impact of the goodwill adjustment in the U.S.

Onur Genç, Chief executive officer

• Business model: “Once again, we have demonstrated the strength of our diversified model”
• Profitability: “We are number one in terms of profitability,” among 15 largest European banks