Corporate policy

BBVA officially presented the six strategic priorities that will allow the Group to accelerate and strengthen its transformation in the coming years. Group Executive Chairman Carlos Torres Vila and CEO Onur Genç announced the new priorities at a Live@BBVA event, broadcast via streaming for the bank’s 126,000 employees around the world.

BBVA’s cultural transformation should lie squarely in the promotion of a more diverse, more flexible, more equitable structure that supports a balance between personal and professional life. These are some of the thoughts bank employees were able to share with members of the executive management team, including CEO Onur Genç.

Garanti Bank recently published its 2018 Integrated Annual Report with an important new feature. The report includes a “True Stories” theme this year: real stories about the experiences Garanti employees have had with customers across Turkey, in their own words. Garanti is the first and only bank in Turkey to publish an integrated annual report that includes information on the value the bank creates for customers.

• Good results: In 2017, the BBVA Group posted a net attributable profit of €3.52 billion (+1.3%). Excluding the accounting adjustment of Telefónica and the capital gains from extraordinary corporate operations, net profit in 2017 was €4.29 billion, up 23.3% from a year earlier. The main drivers behind this result were a positive performance of recurring revenue, cost containment efforts in operating expenses and an effective risk management strategy
• Group Executive Chairman: Total remuneration of BBVA Executive Chairman for 2017 was €5.8 million, up 18% from 2016. The Chairman’s variable compensation rose 12% compared to the previous year. The deferred variable remuneration is subject to multi-annual indicators, based on which remuneration can be reduced or taken to zero, never increased. It also includes a Malus clause that could limit or prevent its collection, and clawback clauses intended to reduce or reclaim already paid amounts
• CEO: Carlos Torres Vila’s total remuneration was €4.9 million in 2017. HIs variable compensation is also subject to the same deferral period and conditions as that of the Chairman

The European Commission just unveiled a new directive on corporate governance, and more specifically on shareholders' rights, which will have to be transposed nationwide by June 2019. The Commission’s initiative serves a dual purpose:  It wants to promote the use of new technologies in the corporate governance of companies while increasing the commitment to transparency among institutional investors, asset managers and the companies in which they invest.

BBVA Compass further adopts a new internal workstyle aimed at providing the bank with the organizational structure and necessary competitive capabilities to collectively focus and quickly respond to the digital transformation within the U.S. banking arena.

BBVA’s Head of Legal & Compliance Eduardo Arbizu, said this Wednesday that “in the field of compliance, digitization offers very significant opportunities”. He highlighted the importance of an organization’s culture in minimizing conduct risk, indicating that it “really is what makes a difference.”

The U.K. is convinced that London will continue to be Europe's fintech capital and a global financial center after Brexit. But other European capitals are hoping to take its place. It will all depend on the long negotiation about to begin between the EU and the U.K.

Europe hopes to end the tax breaks that some countries in the region offer to major corporations. The New York times published an overview of all the battle fronts in the current crusade led by Denmark's Margrethe Vestager, European Commissioner for Competition.

Our planet’s health depends on the awareness and collaboration from every single person in it. It depends on the adoption of clean and renewable energies that replace finite and polluting sources. Political and climatological factors also have an impact, but technological development and the laws that support and drive their adoption are indispensable.

BBVA’s transformation process involves a new corporate culture with new, more agile and flexible ways of working. We spent two days in one of the quarterly planning sessions BBVA is holding around the world to find out firsthand what this new way of working is like.

BBVA has published the sixth title in its OpenMind collection, which takes on the challenge of exploring and helping people understand the powerful forces that influence our world today.

The BBVA Group posted a profit of €2.62 billion in 2014, 25.7% more than in 2013, according to the new accounting rules1, driven by the solid net interest income performance, cost control and lower loan-loss and real-estate provisions. Net income from ongoing operations, which does not include results from corporate operations, grew 53.1% to €3.08 billion year-over-year.

A company will pay up to $10 (around 8 euros) for access to your social network accounts, credit card transaction records, and other personal information, and will sell insights gleaned from that data to companies looking for information on consumer behavior.

"It's not outsourcing; it's crowdsourcing" published Wired in its June 2006 issue 2006, thus creating a neologism that from then on would be used to describe problem solving and/or idea generating through an open and participative process. Since then, the big companies have been using this procedure more and more. Examples are: