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Garanti BBVA has launched a new payment and electronic money service, TAMİ, to bring fresh innovation to the rapidly evolving world of e-commerce and digital payments.

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.”

The top sectors investing through BBVA Mexico's Nearshoring unit are manufacturing, automotive, electronics, technology, and logistics.

BBVA has submitted to the Spanish National Markets and Competition authority (CNMC) a series of unprecedented measures to guarantee financial inclusion, lending to SMEs and competitiveness, especially in Catalonia and the Valencian Community, in order to facilitate a prompt authorization for the combination with Banco Sabadell. The specific commitments being presented include: BBVA will not close offices where there is no other branch nearby and will maintain the commercial terms for individuals and SMEs in those postal codes in which there are fewer than four financial institutions¹. In addition, the bank is committed to maintaining, for 18 months, the working capital lines for all SMEs², and the current total credit volume for those that work exclusively with the two banks. These commitments largely mitigate the risks identified by the CNMC, which are mostly focused on certain territories. The bank will continue to collaborate closely with the authority to finalize the commitment agreement and the authorization of the transaction as soon as possible.

¹For the purpose of competition, BBVA and Banco Sabadell are considered as a single entity.

²Except in case of financial deterioration.

The Banker/Private Wealth Magazine has recognized BBVA as the best private bank in Colombia and Peru in the 2024 edition of the awards. The bank has also been singled out as offering the best high net worth client service in Latin America. The Banker also commended BBVA’s private banks operating in Mexico and Spain.

“We believe that the combination will create significant value for the shareholders of both Sabadell and BBVA, as well as for society in general,” remarked BBVA’s CEO, Onur Genç, while taking part in the 31st Financial Industry Conference organized by ABC and Deloitte. In relation to the ongoing process, the bank’s CEO cited the decision reached on Tuesday, November 12, by the CNMC (Spain’s national competition authority) to commence phase two of the analysis. “We expect the combination to be approved with its full value creation potential.” If this is not the case, i.e. if value creation is compromised, BBVA has the option to withdraw: “We will not hesitate to walk away if it will not create value,” cautioned the bank's CEO. “BBVA will continue to work closely with the authorities to finalize, as soon as reasonably possible, any commitments that may be needed to alleviate any concerns they may have and to get the operation approved.”

The US magazine also proclaimed BBVA the best bank in Mexico, Colombia and Argentina, three key markets for the Group in Latin America.

BBVA is offering Banco Sabadell shareholders the opportunity to participate in the most attractive project in the European banking industry. The integration of both banks will create a stronger, more competitive, and more profitable bank with a greater capacity to support families and businesses in their plans for the future. But apart from an undeniable strategic foundation, what will this integration mean for Banco Sabadell shareholders in terms of their personal finances?

From November 11 to 22, Baku, the capital of Azerbaijan and host of COP29, will be in the spotlight. This Climate Summit, dubbed the "Finance COP," will focus on climate finance—specifically, how to assist developing countries in meeting their goals and protecting the global economy.

BBVA is to donate €4 million to the Spanish Red Cross to help those affected by the DANA in Spain. This donation will be aimed, initially, at covering the most immediate needs and subsequently at contributing to the recovery of the thousands of people who have been affected. This initiative is in addition to a series of emergency measures implemented by BBVA last week, including a donation campaign among customers and employees via Bizum, which has raised over €3 million to date.

BBVA has channeled €26 billion in sustainable business in the third quarter of 2024, reaching a total of €71 billion for the first nine months of the year, a 44 percent increase over the same period last year.

After training more than 50,000 employees in data, BBVA is now busy developing a new program, this time alongside the University of Navarra and focused on the use of tools such as ChatGPT. The aim is to boost productivity by optimizing efficiency in decision-making and daily operations. The program is part of a partnership agreement to train bank employees in data science and new emerging technologies.

During BBVA’s earnings presentation for the third quarter of 2024, the bank’s CEO, Onur Genç was upbeat about the bank’s prospects looking forward, predicated on a clear strategy of profitable growth and sound risk management. Geographic diversification and the ability to adapt to changes in interest rates place BBVA in good stead to face the challenges on the near horizon. Genç also appeared confident that the combination with Banco Sabadell will ultimately go ahead and have a positive impact for Spanish businesses and for the country as a whole.

Garanti BBVA has released its financial statements for January through September 2024, reporting net income of TL 66.95 billion, and total assets of TL 2.88 trillion. The bank provided TL 2.17 trillion in loans, with loans in TL surpassing TL1 trillion.  Customer deposits continued to be the main source of funding, accounting for 70 percent of the bank’s assets. The total customer deposit base reached TL 2.02 trillion, representing 25.9 percent growth in the first nine months of the year. The bank’s capital adequacy ratio stood at 15.8 percent.* Its return on average equity (ROAE) was 32.9 percent and return on average assets (ROAA) was 3.5 percent.

*Calculation does not include forbearance introduced by BRSA

Financial Times and Statista have identified those paving the way for diversity in Europe in their report, ‘Europe’s Diversity Leaders 2025’. The publication ranks BBVA as one of the most diverse companies in Europe; it is the top Spanish bank on the list and 13th in the entire banking sector.

Garanti BBVA recently hosted Istanbul Venture Day to bolster the startup ecosystem and contribute to innovation in the fintech sector. The event was organized in collaboration with Fintech Istanbul and IE University of Madrid as part of its Venture Day series, with the participation of the Spanish and Italian consulates. Fintech startups had the opportunity to meet with Italian and Spanish investors, and learn about the markets and investment opportunities in these countries.

Cover photo: From left to right Garanti BBVA EVP, Ceren Acer Kezik, Zuzzuu Co-Founder & CEO, Ahmet Sukuroglu and IE University Chairman, Center for Entrepreneurship & Innovation, Juan José Güemes.

BBVA Asset Management (AM) has launched a pilot project capable of applying blockchain technology to asset management, in line with its strategy of harnessing innovation for the benefit of its clients. To succeed, it has registered a short-term fixed-income ‘tokenized’ investment fund through the regulatory sandbox of the Spanish National Securities Market Commission (CNMV).