Shareholders

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.

On Tuesday, BBVA completed its latest share buyback in the amount of €781 million. Including all the buyback programs carried out between November 2021 to date, the bank has repurchased the equivalent of 14 percent of the total, for a total amount of €5.36 billion. BBVA launched these buybacks as part of its commitment to create value for its shareholders.

Shareholders are the owners of the securities issued by an enterprise that has been organized as a corporation. BBVA has more than 750,000 retail shareholders. As individual savers, they are one of the bank's key stakeholders. BBVA is firmly committed to creating value for all of them.

This Wednesday, BBVA CEO Onur Genç emphasized the bank’s excellent performance in the first half of the year, and the sustainability of these metrics over time. He specifically pointed to improvement in profitability indicators, with an ROTE of 16.9 percent at the end of June 2023. “We have been delivering better than the competition - not only at the Group level, but at the country level,” he said during a conference for investors organized by Bank of America in London.

BBVA has successfully completed the share buyback program announced on March 20, 2023, for a total of €422 million. This program is part of the distributions to shareholders for the year 2022. In total, BBVA devoted €3.02 billion to its shareholders, including a cash dividend of €0.43 (gross) per share and this share buyback plan.

BBVA will allocate more than €3 billion of 2022 earnings (47% of reported net attributable profit) to shareholder distribution in the form of dividends and a new share buyback program. The bank will pay a final dividend of 31 euro cents per share on April 5.

On Monday, March 20th, BBVA will start to execute its €422 million share buyback program after receiving the authorization of the European Central Bank.

BBVA will propose the election of Sonia Dulá to its Board of Directors. Dulá has a deep knowledge of the banking business and extensive experience in key markets for the bank, such as Mexico, South America and Spain. Her appointment will increase to 73 percent the number of independent directors, maintaining a 40 percent of women while reinforcing the international profile of the Board.

BBVA shareholders will receive next October 11, 2022, a cash interim dividend of €0.12 (gross) per share. This amount is 50 percent higher than that of last year, of €0.08 per share paid in October 2021. The Group’s solid results in the first half of the year are supporting this decision.

World Finance, one of the world's leading business and finance magazines, named Garanti BBVA ‘Türkiye's Best Retail Bank’ for the eighth consecutive time. The Turkish franchise was also singled out as ‘Europe's Best Retail Bank’ for the fifth time.

BBVA will resume today, March 16, 2022, the execution of its share buyback program. After completing a €1.5 billion initial tranche, it will continue with an additional amount of up to €1 billion, to be executed in the next two to three months. Following its completion, BBVA will proceed with additional buybacks of up to a maximum of €1 billion, thus completing its share buyback program for a maximum of €3.5 billion, one of the largest among European banks to date.

BBVA is holding its Investor Day this Thursday, when it will present its plan for the 2021-2024 period. It will focus on turning significant social and environmental challenges - like the technological disruption or decarbonization of the economy - into opportunities for profitable growth while having a positive impact on society. BBVA has released an ambitious set of objectives in terms of efficiency, profitability and tangible book value plus dividends, which it aims to reach in 2024. It also set a customer acquisition objective and reaffirmed its commitment to channel €200 billion of sustainable finance through 2025. Additionally, BBVA has increased its payout to 40-50 percent of its annual consolidated ordinary profit.

Following the European Central Bank (ECB) decision to lift its recommendation limiting shareholders’ distributions, BBVA’s Board of Directors has resolved the payment of a cash interim dividend of €0.08 (gross) per share on account of the 2021 dividend, to be paid on 12 October 2021. The net dividend per share would stand at €0.0648. The bank will make this payment to its shareholders on October 12, 2021.

BBVA CEO Onur Genç said Tuesday at an annual conference organized by Bank of America that he envisions “a larger BBVA” in three to five years, “without compromising profitability and capital discipline,” with a broader customer base. The bank will give more details about the future strategy at its next Investor Day, to be held November 18.

During the results presentation for the first half of 2021 BBVA CEO Onur Genç stated that: "We have begun to take the necessary steps for our up to 10 percent share buyback." The bank plans to “start the programs in the fourth quarter,” subject to market conditions and regulatory approvals.

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.

BBVA CEO Onur Genç said today that the sale of the U.S. subsidiary is a historic milestone for the bank, and that value creation will continue to be the guiding force in all decisions related to the use of the excess capital from that transaction. “We have a lot of ammunition, a lot of capital” to create value for shareholders, he added. Regarding Turkey, he said that: “We are prepared to manage the risks in emerging markets.”

BBVA has named Patricia Bueno as new Head of Investor & Shareholder relations, within the area of Finance.

BBVA has called its Annual General Meeting (AGM) to be held virtual-only on April 20th, 2021. With the goal of being able to implement a significant potential share buyback, it will be submitted for approval of the AGM the possibility of reducing the bank’s share capital up to 10 percent - the equivalent of approximately 667 million shares. Additionally, BBVA proposes the re-election of seven board members, whose term ends in 2021. It would thus maintain unchanged the composition of the Group’s highest governing body, which currently has two thirds of independent members and an appropriate balance and diversity in several areas: experience, knowledge and expertise, gender and international representation.

In an interview posted on BBVA’s corporate website, Carlos Torres Vila takes stock of 2020 and offers his vision for next year. The Chairman assures that, despite its complexity, "it has been a year of relevant strategic achievements” and “we face 2021 with an unparalleled position of strength to invest in growth and to increase shareholder distributions." In this sense, and after the recent sale of the franchise in the U.S. and the ECB decision on dividend payments, BBVA considers “a sizeable share buyback¹ as a very interesting option.”

The repurchase of shares is one of the ways that companies have to pay shareholders. It consists of buying a package of its own shares, normally on the open market, and amortizing them (eliminating them) with the aim of raising the price of the remaining ones.

The sale of the U.S. subsidiary is “an extraordinary agreement” for everyone, as it “creates enormous value for shareholders and gives us a wide range of strategic options,” BBVA CEO Onur Genç said during his presentation this Wednesday at the 27th Financial Sector Meeting organized by Deloitte, Spanish daily ABC and Sociedad de Tasación. In this regard, he noted that “we will only participate in operations that create value for shareholders.” “We aren’t in a rush,” he added.

Thanks to initiatives by BBVA employees, the bank has donated 175 external cell phone batteries to the new IFEMA hospital and 210 blankets to the Alcalá de Henares hospital, both in Madrid.

BBVA shareholders have backed the Group’s corporate management in 2019 with 99.4 percent of the votes at the Annual General Meeting, held on Friday in Bilbao. Quorum has been the highest in the bank’s history: 66.83 percent.

BBVA shareholders meet today in Bilbao (northern Spain), where the bank will hold its Annual General Meeting. Starting at noon, Group executive chairman Carlos Torres Vila and CEO Onur Genç will present the bank’s shareholders with the most significant 2019 accomplishments and the outlook for 2020.

In light of the situation resulting from the coronavirus, BBVA recommends not attending the Annual General Meeting in person whenever possible. The AGM is to be held on March 13th, 2020, at the Euskalduna Conference Center in Bilbao. Additionally, in order to allow shareholders to exercise the remote vote, BBVA has extended the deadline to do so until Thursday, March 12, 2020, at 08:00 pm.