Banco Bilbao Vizcaya Argentaria
| Grupo BBVA
|
|
|---|---|
 |
|
| legal form | SA ( joint stock company ) |
| ISIN | ES0113211835 |
| founding |
1999 BBVA in its current form,
1857 predecessor institute Banco de Bilbao |
| Seat |
Bilbao , Spain
|
| management |
|
| Number of employees | 109,239 (2014) |
| sales | 22.84 billion euros (2014) |
| Branch | Banking and insurance |
| Website | www.bbva.com |
Banco Bilbao Vizcaya Argentaria ( BBVA ) is a credit institution and financial services company with more than 150 years of history. It is the second largest bank in Spain , one of the largest banks in Latin America , the United States and the world, and has its legal seat in Bilbao and its operational seat in Madrid . The bank has more than 110,000 employees and 47 million customers around the world.
From 2012 to 2015, the bank was classified as a major bank by the Financial Stability Board (FSB) as a “systemically important financial institution” and included in the list of globally systemically important banks .
history
The group's first bank, Banco de Bilbao , was founded in 1857 with the support of the Junta de Comercio de Bilbao . The bank worked as a private central bank and issued banknotes until 1874.
In 1988 it merged with the Banco de Vizcaya, founded in 1901, to become Banco Bilbao Vizcaya (BBV). The BBV in turn merged in 1999 with Argentaria (Corporación Bancaria de España) . Argentaria was created in 1991 from the amalgamation of Spanish state banks, including the Spanish foreign bank Banco Exterior de España ( inter alia for export credits ), the postal savings bank Caja Postal de Ahorros and the state mortgage bank Banco Hipotecario , and was privatized between 1993 and 1998.
In January 2019, it became known that in 2004 long-time CEO Francisco González Rodríguez had hired a private detective agency to wiretap politicians, including King Juan Carlos and Prime Minister José Luis Zapatero , in order to prevent a hostile takeover of BBVA.
Stock exchange listing
BBVA shares are traded on the Spanish stock exchanges, London and Mexico. In addition, so-called American Depositary Receipts (ADR) are in circulation on the New York Stock Exchange ( NYSE ) and the Lima (Peru) Stock Exchange . As of November 28, 2010, BBVA's share capital of a good EUR 2.2 billion consists of 4,490,908,285 fully paid shares with a nominal value of EUR 0.49 each. The share is part of the Spanish IBEX 35 index and the EURO STOXX 50 . It is also part of various sustainability indices such as the Dow Jones Sustainability Indices DJSI World , DJSI STOXX and DJSI EURO STOXX or the ASPI Eurozone Index and the FTSE KLD Global Sustainability Index . It is traded under the ticker symbols BBVA and BBVAUS.
In addition, shares in the subsidiaries BBVA Banco Continental, SA, Banco Provincial SA, BBVA Colombia, SA, BBVA Chile, SA, BBVA Banco Frances, SA and AFP Provida are listed on the respective local stock exchanges and in some cases also on the NYSE and the Madrid Stock Exchange traded.
Rating
Like most large credit institutions, BBVA is regularly rated by the rating agencies Standard & Poor’s , Moody’s , Fitch Ratings and DBRS with regard to solvency and creditworthiness.
Currently (01/2013) [obsolete] the agencies rate BBVA as follows:
| Rating agency | Long term rating | Short term rating |
|---|---|---|
| S&P | BBB- (Outlook: Negative) | A-3 |
| Moody's | Baa3 (Outlook: Negative) | P-3 |
| Fitch | BBB + (Outlook: Negative) | F-2 |
| DBRS | A (Outlook: Negative) | R-1 (low) |
This means that BBVA is in the so-called investment grade range for the long term rating at all agencies and has achieved acceptable marks for the short term rating.
In addition to the group rating, various units of the group hold national ratings in the respective countries (e.g. in Argentina, Chile, Paraguay, Colombia and also the USA).
BBVA in Germany, Austria and Switzerland
BBVA's business activities in German-speaking countries focus on corporate and investment banking as well as the capital market business. It has branches in Frankfurt am Main and Düsseldorf . The employees in these branches look after large international corporate customers and institutional investors in cooperation and with the support of specialists and industry teams in Spain , London , New York , Paris , Latin America and Asia .
The services offered in corporate and investment banking include, in particular, advice on mergers and takeovers (for historical reasons, the focus of this activity is in the Spanish-speaking region and, thanks to the cooperation with Garanti Bank, now also in Turkey ) as well as bond issues, risk management and structuring and provision of large syndicated corporate loans , project finance and trade finance as well as the development of comprehensive cash management solutions (also with a focus on Spain and Portugal as well as Central and South America).
In the capital market business, government and corporate bonds as well as interest rate derivatives as well as structured solutions with regard to foreign exchange, inflation and raw materials are offered. In addition, corporate customers are offered a wide range of risk hedging instruments with regard to interest rate, currency and other risk of changes in value.
International presence
BBVA is present in over 30 countries with a total of 7,978 branches. The historical focus is on Spain and Portugal as well as Central and South America. In the recent past, however, BBVA has also established significant market positions in other countries such as the United States and Turkey.
Europe
BBVA's presence in Europe is focused on the Spanish and Portuguese markets. The Corporate & Investment Banking and Global Markets division also has branches in Germany, France, Great Britain, Italy and Switzerland as well as representative offices in Russia and Belgium.
BBVA in Spain
In its Spanish home market, BBVA enjoys a leading position in all of the financial services offered. With a market share of 8.5% in deposits and 10.5% in loans, the bank ranks second in the market. In terms of pension fund management, which is generally particularly attractive for banks, it even ranks first with a market share of 18.9%. A total of 29,000 employees work for BBVA in Spain in over 3,000 branches.
In addition, on March 7, 2012, BBVA announced the takeover of Unnim Banc, SA Sociedad Unipersonal from the Spanish rescue fund FROB . The takeover price is one euro. In addition, the FROB assumes extensive guarantees, such as the assumption of 80% of any losses incurred from the real estate loans taken over from UNNIM. With this acquisition, BBVA doubles its market share in Catalonia, the most industrialized and one of the richest regions in Spain. The integration should be completed by mid-2013.
BBVA in Portugal
As the predecessor of BBVA Portugal, SA, BBV started its business activities in Portugal in June 1991. The development of this activity took place primarily through the takeover of the Portuguese branches of Lloyds Bank Plc and Bilbao Vizcaya, Sociedade de Investimentos SA in the years 2000 to 2002 BBVA Portugal through the merger of the Portuguese BBV activities with Argentaria in Portugal and grew through further acquisitions such as the acquisition of the Portuguese activities of Crédit Lyonnais, the acquisition of Midas and the private customer business of Banco Efisa. At the end of 2009, the total assets of the Portuguese BBVA units, which are represented with more than 100 branches in the country, amounted to a good EUR 7 billion.
North and Central America
BBVA Bancomer in Mexico
In Mexico , BBVA is represented by the companies BBVA Bancomer and BBVA Afore Bancomer (pension fund management). Bancomer was founded in 1932 under the name Banco de Comercio and has been majority owned by BBVA since 2000. After a takeover offer for all outstanding shares in 2004, BBVA holds 98.88% of BBVA Bancomer. With more than 2,000 branches, a market share of a good 28.2% for deposits and 30.1% for loans in both business activities, BBVA Bancomer is clearly the largest credit institution in the country. It ranks second in pension fund management with a market share of 15.9%.
BBVA Puerto Rico
BBVA Puerto Rico is one of the most important banks in Puerto Rico with around 40 branches . It emerged from the acquisition of Banco Comercial de Mayagüez in 1979 by Banco de Vizcaya (now BBVA). Banco Comercial de Mayagüez was founded in Puerto Rico in 1967 and historically has a strong presence in the local market. Further acquisitions in the 1990s further expanded the market position. BBVA Puerto Rico was sold in late 2012.
BBVA Panama
BBVA has been represented in Panama since 1968 through the BEX Panama and BBV Panama units, which have since merged to form BBVA Panama and has since been able to further consolidate its market position there. BBVA has a total of 18 offices in Panama.
BBVA Compass in the USA
In 2005, BBVA acquired Laredo National Bank, based in Laredo , Texas . In 2006, BBVA also acquired Texas Regional Bancshares of McAllen and State National Bancshares, making BBVA the fourth largest bank in Texas.
The biggest step towards a significant US presence, however, was the acquisition of Compass Bancshares Inc. , based in Birmingham, Alabama, announced on February 16, 2007 . With this acquisition and the consolidation of the previously acquired credit institutions, BBVA intends to establish the largest bank in the so-called Sun Belt of the United States under the name BBVA Compass . The transaction was successfully completed on September 7, 2007. Compass Bancshares became wholly owned by BBVA that day. BBVA Compass is a financial holding company with total assets of over USD 65 billion. The corresponding assets are primarily located in Alabama, Arizona, California, Colorado, Florida, New Mexico and Texas. BBVA Compass is one of the 25 largest banks in the country. Before the acquisition by BBVA, the Compass Bancshares Inc. share was part of the S&P 500 Index and the Dow Jones Select Dividend Index.
On August 24, 2009 it was also announced that BBVA Compass will take over the bankrupt Guaranty Bank from Texas from the FDIC and thus further expand its position in the Spanish-speaking US market.
After this acquisition, BBVA Compass claims to be the fifteenth largest bank in the United States with deposits of more than USD 49 billion and more than 750 branches.
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South America
BBVA has an extremely dense network in South America. In addition to the activities listed below, the bank has representative offices in Havana and São Paulo .
BBVA Banco Francés in Argentina
BBVA Banco Francés was founded on October 14, 1886 in Buenos Aires as Banco Francés del Río de la Plata, making it the country's oldest private bank. With more than 270 branches and a deposit base of more than AR $ 18 billion (as of 09/2009), it is the third largest bank in Argentina. In December 1996, BBVA indirectly acquired a 30.04% stake in Banco Francés through the purchase of Otar SRL , which was gradually increased to 75.97% by the end of 2009.
BBVA in Bolivia
In Bolivia , BBVA has 9 branches through its pension fund manager Previsión AFP . However, the business activity here is essentially limited to pension fund management. Previsión AFP is the country's largest pension fund manager.
BBVA Chile
BBVA entered the Chilean market in October 1998 . The unit then operating under the name BBV Banco BHIF was renamed BBVA Chile in 2003. The bank is represented in Chile through various subsidiaries (e.g. BBVA Sociedad de Leasing Inmobiliario SA, BBVA Asesorías Financieras SA, BBVA Corredores de Bolsa SA, BBVA Administradora General de Fondos SA, BBVA Corredora Técnica de Seguros Limitada and BBVA Factoring Limitada) and is now an integral part of the Chilean banking world. BBVA is also the country's largest vehicle financer through its 75.5% stake in Forum. With a 6.9 percent share of deposits and 7.6% of loans, it ranks fourth in the market. In addition, it is the clear market leader in pension fund management with a market share of 30.5%.
BBVA Colombia in Colombia
In 1996, BBVA acquired 40% of the then listed Banco Ganadero , which was gradually increased to 95.16% by 2001. In the course of the acquisition, Banco Ganadero was first renamed BBVA Banco Ganadero and in 2004 finally changed to BBVA Colombia . BBVA Colombia is the fourth largest credit institution in the country in terms of its market share of 10.2% for deposits and 9.6% for loans . It ranks third in pension fund management with a market share of 16.4%. In addition, The Banker magazine named BBVA Colombia 'Best Bank in Colombia' at its annual awards ceremony in December 2010.
BBVA in Ecuador
BBVA has a total of 13 offices in Ecuador . However, the group's business is limited to pension fund management by AFP Génesis . AFP Génesis is the country's largest pension fund manager.
BBVA Paraguay
Today's BBVA Paraguay was founded in 1961 as Banco Exterior de España . As a result of various mergers of the parent company in Spain to form today's BBVA, the bank was renamed BBVA Paraguay on April 18, 2000. Today BBVA Paraguay is the second largest bank in the country . It is represented here with 22 branches and for historical reasons it is mainly active in the corporate customer business.
BBVA Banco Continental in Peru
Banco Continental was founded in 1951 and is part of BBVA in 1995. BBVA Banco Continental looks after the Peruvian market with more than 240 branches and a good 4,000 employees. BBVA Banco Continental is the second largest credit institution in the country with a market share of 21.9% in deposits and 23.7% in loans in both businesses. In pension fund management, it also ranks second with a market share of 23.6%.
BBVA Uruguay
BBVA Uruguay was created in 2002 from the merger of BBV Banco Francés Uruguay SA and Banco Exterior de América SA Argentina. In January 2010, BBVA also announced the acquisition of Credit Uruguay Banco from the French Crédit Agricole SA . BBVA is now represented with 45 branches in Uruguay . This acquisition makes BBVA Uruguay the country's second largest private bank.
BBVA Banco Provincial in Venezuela
Banco Provincial was founded in Caracas in 1953 and was taken over by BBVA in 1997. As one of the few non-nationalized banks in Venezuela , discussions and rumors about the future of BBVA Banco Provincial and its activities in Venezuela can be found regularly in national and international media. To date, the management of BBVA has always confirmed the bank's commitment in this country and has rejected any sales speculation. Today, BBVA Banco Provincial in Venezuela is the fourth and third largest bank in the country, with a market share of 9.6% for deposits and 11.3% for loans. In addition, The Banker magazine named BBVA Banco Provincial the 'Best Bank in Venezuela' at the annual awards ceremony in December 2010.
Asia
In Asia, BBVA is mainly represented with branches in Tokyo , Hong Kong , Singapore and Seoul. There are also representative offices in Moscow , Mumbai , Beijing , Shanghai , Sydney and Taipei . The group’s renewed growth efforts also led to increased involvement in Turkey and significant projects in China and India.
China
BBVA is active in China through two holdings in companies of the CITIC Group as well as a branch in Hong Kong that focuses on wholesale banking .
15% stake in China CITIC Bank
BBVA currently holds 15% of China CITIC Bank through the acquisition of blocks of shares . One of the largest credit institutions in China and a subsidiary of the state-owned China International Trust and Investment Company . In this context, BBVA works closely with CITIC, particularly in the areas of corporate banking, trade finance and cash management .
30% stake in Citic International Financial Holdings
In addition to its stake in China CITIC Bank in Mainland China , BBVA holds a 30 percent stake in Hong Kong-listed Citic International Financial Holding , which is part of the same Chinese conglomerate as China CITIC Bank (the CITIC Group ). Based on these two investments, BBVA's investment in China amounts to a total of around EUR 3 billion.
BOBCARDS in India
On December 15, 2010, BBVA announced an agreement to acquire 51% of BOBCARDS , the credit card service of Bank of Baroda , a state-owned bank with 36 million customers and over 3,100 branches in India . As part of this joint venture , BOBCARDS is to grow into the leading credit card provider in India. The acquisition of a majority in BOBCARDS is BBVA's first step with regard to the Indian retail banking business .
49.85% stake in the Turkish Garanti Bank
On November 2, 2010, the takeover of a 24.9 percent stake in the Turkish Garanti Bank by BBVA was announced. With 9.5 million customers, over 800 branches and total assets of more than EUR 60 billion, Garanti is one of the leading banks in Turkey. The US conglomerate General Electric took over 18.6% of the Garanti shares . Another 6.3% comes from the Turkish Dogus Group , which holds a further 24.9% in Garanti. BBVA and Dogus Group have also signed an agreement to jointly manage Garanti. The purchase price for the share acquired from BBVA amounts to EUR 4.2 billion. As part of a capital increase in November 2010, BBVA issued new shares for EUR 5 billion to finance this. The transaction was completed on March 22, 2011. Since then, the supervisory board of the Garanti Bank has been made up of four delegates each from BBVA and Dogus Group. This means that any decision in the supervisory board requires the approval of BBVA and Dogus Group.
In February 2017, BBVA acquired a further 9.95% shares in Garanti Bank from the Dogus Group. The stake in Garanti Bank is thus 49.85%.
Situation in the home market
In the context of the European debt crisis, Spain came into focus for a while, as the country suffered considerable losses in its economic output. In this context, there were fears that the Spanish state could face difficulties in raising capital. So far, however, this has not been the case and the Spanish banks in particular have recently shown that they can borrow the funds they need for their refinancing on the market.
The share of non-performing loans in BBVA's total loans stabilized at 4.3% in the first quarter of 2010 and fell to 4.1% at the end of the year.
Sponsorship
BBVA is a major sponsor of sport and culture. The most important sponsorship contracts include the exclusive contracts concluded with the Spanish professional football league ( Liga de Fútbol Profesional (LFP) ) and the American Basketball Federation ( NBA ). In this context, was La Liga in Liga BBVA and the Segunda División in Liga Adelante renamed after already the second division from 2006 to 2008 the name of Liga BBVA had worn. The partnership ended after the 2015/16 season. BBVA is the official bank of the NBA in the US, Spain and Puerto Rico. In addition to sport, BBVA promotes museums (e.g. the Museo del Prado in Madrid and the Guggenheim Museum Bilbao ), music (e.g. the Albéniz Foundation and the Escuela Superior de Música Reina Sofía) and the spread of the Spanish language in the form of the Foundation Fundéu .
See also
Web links
Individual evidence
- ↑ a b BBVA - Consolidated financial statements, management report and auditors' report 2014 , at www.shareholdersandinvestors.bbva.com ( memento of March 6, 2016 in the Internet Archive ), accessed on November 7, 2015
- ↑ 2015 update of the list of global systemically important banks (G-SIBs). (PDF; 110 kB) Secretariat to the Financial Stability Board Bank for International Settlements, November 3, 2015, accessed on November 20, 2015 (English).
- ↑ Thomas Urban , bribes for the king , sueddeutsche.de , January 21, 2019.
- ↑ BBVA Investor Relations website: "Key information on the BBVA share"
- ↑ BBVA Investor Relations Website: "Share Capital"
- ^ "S&P Research Update: BBVA 'BBB- / A-3' Ratings Affirmed Despite Rising Economic Risk In Spain; Outlook Negative “ ( Memento from November 26, 2013 in the Internet Archive ), November 23, 2012
- ↑ "Moody's Rating Report" ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , October 29, 2012
- ↑ "Fitch Downgrades Santander & BBVA to 'BBB +' / Negative Outlook on Sovereign Action" ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , June 12, 2012
- ↑ "DBRS Lowers BBVA to" A "After Downgrade of Spain to A (low), Trend Now Negative" ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , August 10, 2012
- ↑ "BBVA annual financial statements 2012"
- ↑ BBVA press release: FROB awards Unnim Banc to BBVA ( Memento from March 17, 2012 in the Internet Archive )
- ^ "BBVA Portugal Webpage" ( Memento from January 21, 2011 in the Internet Archive )
- ↑ BBVA Bancomer website: "History of BBVA Bancomer" ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. .
- ↑ BBVA website: "History of the international group" ( Memento from July 28, 2011 in the Internet Archive )
- ^ Relevant events in the fourth quarter of 2012 , Pt. 6th
- ↑ Online edition of the Spanish newspaper El Mundo .
- ↑ Bank failure number 81 . In: Süddeutsche Zeitung , August 24, 2009.
- ↑ BBVA Compass website: About BBVA Compass . bbvacompass.com
- ↑ BBVA Paraguay Webpage: "About Us" ( Memento from September 19, 2010 in the Internet Archive )
- ↑ BBVA Banco Continental Annual Financial Statements: "Annual Financial Statements 2009 - Additional Information" ( Memento from September 20, 2010 in the Internet Archive ) (PDF; 1.5 MB)
- ↑ MercoPress: "BBVA takes over Credit Agricole becomes Uruguay's second largest private bank" , February 4, 2010.
- ↑ BBVA press release: BBVA and Bank of Baroda form a joint venture to offer credit cards in India . ( Memento from December 19, 2010 in the Internet Archive ) December 15, 2010.
- ↑ BBVA press release: "BBVA to acquire a 24.9% stake in Garanti, Turkey's leading bank" ( Memento of November 6, 2010 in the Internet Archive ), November 2, 2010.
- ↑ BBVA press release: "BBVA completes purchase of 24.9% stake in Garanti" ( Memento of May 8, 2011 in the Internet Archive ), March 22, 2011.
- ↑ BBVA: BBVA Raises Stake in Garanti to 49.85% - BBVA NEWS . In: NEWS BBVA . February 21, 2017 ( bbva.com [accessed July 19, 2017]).
- ↑ Spain sees Portugal on the road to recovery . In: Handelsblatt , January 11, 2011
- ↑ Susanne Metzger: Too much dependent on home . In: Handelsblatt , April 29, 2010, page 14.
- ^ Wall Street Journal Online February 2, 2011: BBVA Profit Jumps On Lower Provisions; Boosts Capital
