BBVA

Spanish economy 25th April 2022

BBVA Hikes Price Of Bid For 50.15% Of Turkey’s Garanti From 12.20 To 15 Liras/Share

BBVA’s board of directors has decided to increase the price of the takeover bid it launched last November for the 50.15% stake it does not control in Garanti, its Turkish subsidiary. Specifically, the bank has upgraded the takeover bid from 12.20 to 15 Turkish liras per share, as reported to the National Securities Market Commission (CNMV). BBVA flags that the total outlay for the takeover bid will be 31.595 billion…

Spanish economy 20th April 2022

BBVA’s Treasury Stock Now Exceeds 5% But The Share Price Remains Unchanged

BBVA has increased its treasury stock to 5.28% of the bank’s capital, up from 4.38% previously, setting a record high since records began. The increase in treasury shares is in response to BBVA’s programme to buy back up to 3.5 billion euros of these shares. On 18 March 2022, BBVA’s general shareholders’ meeting approved a proposal to reduce the bank’s share capital by up to 10% through the redemption of…

Spanish economy 1st April 2022

Turkey Gives The Green Light To BBVA’s Takeover Bid For 50.15% Of Garanti

Turkey’s securities supervisor (Capital Markets Board) has authorised BBVA’s takeover bid for the 50.15% it does not own in Turkish subsidiary Garanti, the bank has informed the National Securities Market Commission (CNMV). The offer will begin on 4 April and end on 29 April. BBVA, which owns 49.85% of Garanti’s capital, announced the takeover bid in November last year. It made the offer at 12.20 Turkish liras per share, with…

Spanish economy 3rd February 2022

BBVA Posted Net Attributable Profit Of €4.653 Billion

BBVA Group posted a recurring profit of €5.07 billion in 2021, the highest in the past ten years, thanks to the positive evolution of revenues and lower loan-loss provisions. Including non-recurring impacts, the net attributable profit rose to €4.65 billion, 3.6 times higher than the €1.31 billion registered in 2020. In terms of growth it acquired a record of almost nine million new customers. The net tangible book value per…

Spanish economy 18th November 2021

BBVA: Turkey Is Better Than The US Or Spain

Fernando González Urbaneja | Turkey consolidates BBVA’s internationalisation as the third leg of a bank based on Mexican, Spanish and Turkish business. Three different markets, three currencies, three economic areas. Diversification with risks, perceived as an opportunity. The Turkish bet is not new. It dates back to 2011 when the bank led by Francisco González surprised the market with the purchase of an almost majority stake in Garanti (49%), one…

Spanish economy 15th November 2021

With The Turkish Lira At Historic Lows, BBVA Launches A €2.25 billion Takeover Bid For The 51% Stake In Turkey’s Garanti It Does Not Control

BBVA, which currently holds 49.85% of the capital of Turkish bank Garanti has agreed to launch a voluntary takeover bid for the remaining 50.15% it does not hold. BBVA is offering Garanti’s shareholders 12.20 Turkish Liras in cash for each share of the Company. This is a 15% premium to the 10.58 Turkish lira at which the bank’s shares were trading on Friday 12 November. The maximum amount to be…

Spanish economy 30th October 2021

BBVA Beats Expectations In Q3 2021; Receives ECB Approval To Start Its Share Buyback Programme For Up To 10% Of Capital

According to analysts, the most important aspect of the results is the favourable evolution of Ordinary Net Attributable Profit and the capital surplus, the main catalyst for the share price in Q4 2021. Key figures for 9M 2021 compared to consensus expectations (Bloomberg): Net Interest Income: €10.708bn (-3.7% vs -8.0% in H1 2021 vs €10.567bn e); Gross Margin: €15.589bn (-0.2% vs -3.6% in 6M 2021 vs €15. 530 bn e);…

European economy 2nd September 2021

BBVA Returns To The Euro Stoxx 50 One Year Later

BBVA and Stellantis have been added to the Euro Stoxx 50, replacing Amadeus and Engie. These changes will be effective at the opening of trading on 20 September. According to Bankinter analysts, “BBVA and Stellantis should rebound today, despite the fact that the session will probably be somewhat bearish, while Amadeus and Engie should fall back. And this same evolution could extend over several sessions. We estimate that some 27…

Spanish economy 4th May 2021

A Santander-BBVA Merger Would Be Lower Risk Than Other European Banking Operations, According To A&M Firm

A hypothetical merger between Banco Santander and BBVA would mean the largest merger in European banking. It would also have a high return on investment and low integration risk, according to the services firm Alvarez & Marsal and reported by Europa Press. In its latest report called ‘The Pulse of European Banking’, the firm has analysed merger and acquisition opportunities amongst the major European banks in terms of investor return,…

Ibex 25th March 2021

BBVA Maintains Its Strategy In Turkey As A Long-Term “Well Positioned” Investor

According to Genç, the main risk for the entity in Turkey does not lie in the recent dismissal of the Turkish Central Bank governor, but in foreign currency operations, something that the entity can handle “without problems” as it is a long-term investor. The main risk for the entity in Turkey does not lie in the recent dismissal of the Turkish Central Bank governor, but in foreign currency operations.

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