Finance

Juan Blasco, Global Head of Institutional Business at BBVA CIB, has been appointed Chair of the Board of the Association for Financial Markets in Europe (AFME). Blasco takes on this role with the goal of contributing to the strengthening of European capital markets, fostering their integration and enhancing their ability to meet the needs of businesses and investors.

BBVA has been awarded the Inhouse Team of the Year in the Banks & Financial Institutions category at the 2024 Iberian Lawyer Gold Awards, in recognition of the work of its legal team and their ability to address challenges within the financial sector.

BBVA CFO Luisa Gómez Bravo reported this Thursday, during an investor conference organized by JP Morgan, that she notes a highly positive dynamic in the Group’s business, which could lead to strong profitability levels (ROTE) in 2025, similar to those of 2024. She explained that this positive outlook for the future is anchored in the Group’s main competitive advantages: excellent franchises with leading positions in the main markets and a strategy based on innovation, digitization and sustainability. Gómez Bravo underscored the strength of BBVA’s business in Mexico: “We have an incredible bank in Mexico that will continue delivering solid returns.”

BBVA tapped the market today with a Tier 2 subordinated debt issue totaling €1 billion, maturing in 12 years and featuring a redemption option from year seven. The issue has been very well received, with demand exceeding €3 billion at times, tripling the amount ultimately allotted. The price was set at mid swap + 200 basis points, below the starting price (mid swap + 225 basis points). It is the bank’s seventh wholesale transaction this year.

The ‘Sharing Knowledge’ project is a further show of BBVA’s commitment to small and medium-sized enterprises (SMEs). Through this initiative, the bank supports, teaches, inspires and transforms businesses and their management team by staging talks among industry experts and discussing specific SME success stories.

Bonus, Garanti BBVA’s most popular credit card, is now celebrating its 24th anniversary. Bonus also happens to be a credit card platform, having amassed some 18 million users and eight partner banks.