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Finance

Finance

BBVA Compass Bancshares, Inc., a Sunbelt-based bank holding company (BBVA Compass), reported today record net income of $157 million for the second quarter of 2017, a 29 percent increase from the $123 million earned during the second quarter of 2016 and a 30 percent increase from the $121 million earned during the first quarter of 2017. Return on average assets and return on average tangible equity(1) for the second quarter of 2017 were 0.72 percent and 7.93 percent, respectively.

The USS Constitution is back to her former glory. After a restoration process that took two years and $12 million worth of copper cladding, wooden plank repair and gun carrier restoration, among other refurbishments, the oldest commissioned floating naval vessel first launched in 1797 was put back into Boston Harbor this week.

For every 100 euros European citizens earn, they pay an average of 50 euros in taxes and contributions.  Of the amount they pay in taxes, only 1 euro is devoted to financing the budget of the European Union.  Thus, in total, Europe manages a budget equivalent to 1% of the gross national income of its Member States.  However, the way this money is invested has a direct impact on the lives of Europeans.

The current climate of change inside and outside Europe has led the European Commission to reflect on the future of its public accounts.  In the document entitled  'The Future of EU finances', the Commission analyzes the current configuration of the budget and its future options. This document is part of a series of reflections brought about by the White Paper on the future of Europe, which set forth the different challenges and scenarios the EU will be facing through 2025.

Latin America has to foster the right conditions to strengthen its digital ecosystem. However, it faces an obstacle: the digital gap that separates it from other regions in the world. How can this gap be reduced? At a forum of “multi-Latina” companies in Santander, Eva Piera, the Head of Institutional Relations at BBVA stressed that regulation is the key.

Garanti Bank signed an agreement with the European Bank for Reconstruction and Development (EBRD) for 5-year term funding in the amount of Euro 75 million equivalent under the Covered Bond Programme. Thanks to this financing, the first transaction settled with EBRD in TL and covered bond format, Garanti aims to boost the expansion of Green Mortgage loans and to protect the future generations with environmentally-friendly buildings.