Garanti BBVA was recognized as Best Bank for Cash Management in Turkey in 2021 in Global Finance’s annual Best Treasury & Cash Management Banks survey.

BBVA Chairman Carlos Torres Vila and CEO Onur Genç will not collect their variable remuneration for 2020 as a gesture of responsibility in a year marked by the COVID-19 pandemic, as detailed in the annual remuneration report for BBVA directors. The decision is also a sign of their commitment to their customers, shareholders, employees and society as a whole. Additionally, the bank has updated its remuneration policy for the next three years (2021, 2022 and 2023), which will be presented for approval at the Annual General Meeting.

The telecommunications company Orange has become the first operator in Spain to incorporate Bizum into its means of payment. BBVA was the institution that provided the contractual and technological framework to make this possible. As of this week, all Orange customers of the Orange, Jazztel and Amena brands, regardless of their banks, will be able to carry out certain transactions with this payment method that´s faster than a card and that complies with PSD2 requirements.

Among the novelties in BBVA´s 2020 results presentation is its objective of repurchasing 10 percent of the shares once the sale of the subsidiary in the United States is completed with the capital generated by this operation. At the press conference, Carlos Torres Vila, BBVA Group´s Executive Chairman, stated that "we are saying loud and clear that we consider BBVA´s share the best investment we can make." In addition, he reviewed different strategic options that the bank was considering for investing that capital.

BBVA earned €1.32 billion between October and December, its highest quarterly result over the past two years. In 2020 BBVA helped three million clients affected by the pandemic, with about €63 billion in government-backed credit lines and loan deferrals. The sale of the U.S. subsidiary will provide some €8.5 billion in capital to grow in a profitable way across its footprint and increase shareholder distributions. BBVA will make a gross cash payment of €0.059 per share against 2020 earnings, and expects to resume its shareholder distribution policy in 2021 with a payout of 35-40 percent of profits. Additionally, the bank is targeting a buyback of about 10 percent of the Group’s shares, after the close of the sale of the U.S. franchise. All this subject to market conditions and the required approvals.

BBVA has selected the Chilean bank Bci as its ally in Chile to provide payment and collection services, also known as cash management. Thanks to this alliance, BBVA's global clients with a presence in Chile will be able to carry out this transaction with BCI through BBVA's global channels.

BBVA has signed the sale of a portfolio consisting of loans and real estate assets from Unnim for a gross total of approximately €700 million. The goal of the transaction is to reduce the exposure to non-productive assets.

BBVA’s CEO was interviewed by a university publication where he did his MBA, Carnegie Mellon University (Pittsburgh, Pennsylvania, U.S.). Onur Genç shares his view of leadership and the importance of teamwork. “In my view, there are three main aspects that define good leaders: entrepreneurship, empowerment and accountability,” he says.

In 2020, BBVA took a step forward to protect its employees and support its customers and society as a whole, to cope with the COVID-19 crisis. In a year marked by the virus, the bank has launched initiatives across the world to alleviate the financial burden of those worst hit by the pandemic and provide funding for the economic recovery.

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.”