BBVA ups sustainable financing target to 300 billion euros vs initial 100 billion announced in 2018

BBVABBVA: Upside in NII, margins, stable capital

BBVA has upped its targets for sustainable financing. The Spanish lender expects to reach 300 billion euros of products linked to sustainability targets in the period 2018-2025, according to the daily Cinco Dias, citing BBVA chairman Carlos Torres during a conference in Washington.

Cinco Dias said the new amount would represent a 50% increase on the goal of 200 million euros announced in July 2021, when the bank updated its road map for sustainable financing. The initial target announced in 2018 was for 100 billion euros in sustainable financing in 2025.

It added that BBVA is proposing three main objectives, looking to the future: promote new businesses through sustainability; be neutral in net emissions with regard to its clients in 2050; and create a “positive” impact on society.

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