BBVA trusts the recovery of the global economy in the second half

BBVA trusts the recovery of the global economy in the second half

BBVA Head, Carlos Torres, Expressed confidence that in 2021 there will be a recovery effect in the global economy, especially in the second semester, which will partially mitigate the 3.2 percent decline in GDP (Start) International this year. In addition, he noted that in spite of everything, in 2020 the bank received an extraordinary profit of 3 thousand 84 million euros.

He said during the general meeting of shareholders that was held electronically, “In spite of the environment, we got in 2020 a profit without unusual items of 3 thousand and 84 million euros, and we still lead European banks in efficiency and profitability.”

He stated that he was confident of the sale decision United State It will allow you to position yourself in a position of exceptional strength and provide you with immense strategic options, the ability to use the additional capital to grow profitably and face the costs of downgrade. “With this, we will be able to be more efficient in the markets in which we operate, and strengthen our leadership position.”

He described the deal as “historic,” stressing that it was able to show its value Shareholders Thanks to “attractive” complications achieved. I also considered it It may increase bonuses for its shareholders, including extraordinary payments.

During the meeting, the board suggested to the board to approve the necessary agreements to be able to do so Implement a stock buyback plan of up to 10 percent Of the group’s shares that will be made once the sale of the subsidiary company is closed United States of AmericaS, and after obtaining it, if any.

For fiscal year 2021, the intention BBVA It is the resumption of dividend policy and the creation of cash payments between 35 per cent and 40 per cent, with the limitations imposed by it Banco Central Europeo (ECB).

Regarding dividends for the year 2020, a total payment of 5.9 euro cents per share was brought to the meeting, which is the maximum permitted by the superintendent, which will be paid at the end of April.

By linking dividends paid to the evolution of the chief stock BBVA Confirmed that It was the entity in Spain that had the best return on shareholder in the last two yearsFrom the beginning of 2019 until today.

In this sense, he stressed that it is the only Spanish bank with a positive return of around 8 per cent. “The number is clearly much lower than what we are aspiring for, as the measure has been greatly affected by the pandemic situation, and it is located in StartLow interest rates and uncertainty, “he said.

On the other hand, chief BBVA Take it to the recovery plan Europeo the next generation of the European Union It will have a somewhat limited impact in 2021, but it will help emerge stronger from this crisis. “It is a historic opportunity for Europe, With the purpose Spain, Not only to boost recovery but also to modernize the economy and society. “

In his view, private initiative will be necessary to achieve a multiplier effect with these funds. “In particular, banks can leverage our capabilities, provide advice, analyze projects, direct them, and along the way, amplify them with financing,” he added.

Despite the quick and strong reaction from Central banks and governments, With metrics Monetary and financial stimulusIn 2020, there was a 3.2 percent decline in global GDP. “This year 2021, we expect a major recovery, especially in the second half of the year.”

BBVA He wants to position himself as one of the most sustainable banks in the world. So, Carlos Torres They leveraged the meeting to once again influence the messages of sustainability and commitment of the Bank.

Combating climate change requires everyone’s participation. Besides being a necessity for the planet, it is without a doubt an opportunity. We want to help our clients make their transition to a more sustainable and inclusive world, through financing, advice and innovative solutions. That is why today we are making a commitment BBVA To be carbon neutral in 2050. We are thus taking a 20-year lead into the base scenario of the Paris AgreementHe declared.


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