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Since then, its focus shifted, expanding from financial services for coffee growers to the general public. The region’s banking sector has been among the fastest-growing of its kind in the world. Industry revenue increased 12% on a compound annual basis before the cost of risk between 2012 and 2017. Moody’s announces completion of a periodic review of ratings of Banco BBVA Perú S.A. BBVA closed today the sale to of 948 items of real state to “Tree Inversiones Inmobiliarias” a company managed by RREEF Limited, for an amount of 1.154 million euros.
Its revenue stream includes retail banking operations, stock brokerage services, insurance, and mutual fund management. Banco Bradesco’s main goal was to attract small business owners, government workers, and the general population when it was founded in 1943. According to the company’s website, it was among the first banks in the country to encourage the use of checks in its branches. The country has a presence in eight countries outside Brazil that spreads across retail, corporate, and investment banking. The bank’s name and logo were adopted in 1973 and remain the same. But its roots date back to the mid-1920s when João Moreira Salles started selling coffee under his business, Casa Moreira Salles.
For such purposes, a new income statement line item called “Income from corporate transactions” will be created. Moody’s Investor Service (Moody’s) has today upgraded to Baa2 from Baa3 the debt and deposit ratings of BBVA and changed the outlook to positive from stable. The Board of Directors of BBVA, in its meeting of today, May 4, 2015, appointed the independent director Mr. José Miguel Andrés Torrecillas as member and chairman of the Audit and Compliance Committee of the Board, in substitution of Mr. José Luis Palao García-Suelto, as the latter had already served for the legal period of four years. The board also appointed the independent director Mrs. Lourdes Maíz Carroas as member of the Audit and Compliance Committee. Moody’s Investors Service (Moody’s) has today concluded its review of BBVA’s ratings initiated on March 17, 2015 following the publication of Moody’s new bank rating methodology. BBVA has received a communication from the Bank of Spain regarding its minimum requirement for own funds and eligible liabilities (“MREL requirement”), as determined by the Single Resolution Board (“SRB”).
This is a consequence of the implementation of the new valuation methodology of this type of issues that was announced by the rating agency on December 29, 2009. On February 23, 2010, Moody’s Investors Service revised the ratings of the hybrid securities issued by Spanish financial institutions. This is a consequence of the implementation of the new valuation methodology of this type of issues that was announced by the rating agency on January 12, 2010. BBVA’s Board of Directors has resolved, at its meeting held on 1 February 2011, following the proposal of the Appointments Committee, to appoint by cooptation the shareholder Mr. José Luis Palao García-Suelto as director, who will be considered as independent director. The Board of Directors meeting of BBVA, 22nd June 2011, has resolved to convert the totality of the Mandatory Convertible Subordinate Bonds with early conversion options in favour of the issuer (the “Convertible Bonds”), issued by BBVA on 30th September 2009 for a nominal amount of TWO BILLION EUROS (€2,000,000,000).
In connection with the significant event published on 26 December 2018, BBVA informs that the sale of the great majority of the credits rights that composed the portfolio to Anfora Investing UK Limited Partnership, an entity belonging to Canada Pension Plan Investment Board, has taken place. BBVA communicates that it is carrying out a strategic review process of its nonlife insurance business in several geographies. Within this process, BBVA has received offers by several interested parties and is carrying out negotiations with the goal of eventually establishing bank-assurance alliances. The Board of Directors of BBVA has resolved to propose to the next Annual General Meeting a cash payment in a gross amount of EUR 0.059 per share against the share premium account that will be paid on 29 April 2021, if approved. BBVA has received a new communication from the Bank of Spain regarding its minimum requirement for own funds and eligible liabilities (“MREL”), as determined by the Single Resolution Board (“SRB”), that has been calculated taking into account the financial and supervisory information as of December 31, 2019 , and which supersedes the previous MREL communication published on November 19, 2019.
Accompanying this relevant event notice is an information note related to the Dividend Option. BBVA hereby communicates relevant information relating to the free-of-charge capital increase resolved by the General Meeting of BBVA shareholders held on 15th March 2013, under agenda item four, section 4.1, by which a system of flexible shareholder remuneration called “Dividend Option” is to be instrumented. BBVA hereby communicates relevant information relating to the free-of-charge capital increase resolved by the General Meeting of BBVA shareholders held on 15th March 2013, under agenda item four, section 4.2, by which a system of flexible shareholder remuneration called “Dividend Option” is to be instrumented.
Voluntary conversion period at the option of said Convertible Bond holders. The minimum Conversion Price (initially €3.5) and the maximum Conversion Price (initially €50) of the BBVA shares for the purposes of converting the Convertible Bonds has been set at €3.44 and €49.19, respectively. The detailed results of the capital ratio stress test published today by the European Banking Authority are attached. This test is an update of the EBA stress test carried out on December 8, 2011, which was agreed by the European Council on October 26, 2011. The results show that BBVA has a core Tier 1 capital ratio of 9,9% as of June 2012, without including the sovereign buffer. Therefore, BBVA meets the 9% CT1 requirement established by the EBA as well as the sovereign buffer capital requirement established on November 2011.
(“Garanti Bank”) amounting to approximately 14.89% of the total issued share capital of Garanti Bank (the “Acquisition” and the “Shares”, respectively). BBVA’s Board of Directors has resolved at its meeting held today the payment of a cash interim dividend of euro 0.08 per share on account of the 2016 dividend, to be paid on 12 January 2017. Following the publication of the updated “Global Banking Methodology” on May 24, 2017, DBRS Ratings Limited and DBRS, Inc. have concluded the review of certain subordinated debt ratings of several European banking groups started on January 13, 2017. The Board of Directors of BBVA has resolved, at its meeting held today, the payment of a cash interim dividend of euro 0.09 per share on account of the 2017 dividend, to be paid on 10 October 2017. The BBVA Group holds a stake in the share capital of Telefónica, S.A.
The conversion will be carried out on the forthcoming distribution payment date, ie, 15th July 2011, pursuant to the procedure established to such effect in the issue terms and conditions. The conversion will be mandatory for all Convertible Bond holders. BBVA hereby reports that, pursuant to the provisions in the note on shares relating to the offer to purchase the Unnim Securities and the public offering of the BBVA shares for sale, filed 28th September 2012 in the official registries of the CNMV (the “Note on Shares”), the period for acceptance and withdrawal of the offer to purchase the Unnim Securities and the public offering of the BBVA shares for sale ended on 18th October 2012. During the period established for this effect, selling orders for the Unnim Securities have been received amounting €426,210,629.77 nominal. BBVA’s offer was accepted by 99.3% of the Preferred Shares and 82.0% of the Subordinated Debt Securities.
Grupo Financiero BBVA México SA de CV
This reclassification is a consequence of the reassignment of technology related management competences, resources and responsibilities from the Corporate Center to the Banking Activity in Spain business area during 2015. BBVA’s Board of Directors has resolved today the distribution of a umarkets scam cash interim dividend of euro 0.08 per share on account of the 2016 dividend. Regarding the news published today, BBVA confirms that a proposal of a new organizational structure for the Group and a new top management team will be submitted tomorrow to the Board of Directors for approval.
Shareholders held on March 15, 2013 and corresponding to the “Dividendo Opción” program, has ended today, October 14, 2013. Further to the relevant facts dated March 14, 2014 and March 26, 2014, BBVA hereby communicates that the trading period for the free allocation rights of the free-of-charge capital increase adopted under Agenda item four section 4.1 by the Annual General Meeting of Banco Bilbao Vizcaya Argentaria, S.A. Shareholders dowmarkets held on March 14, 2014 and corresponding to the “Dividendo Opción” program, has ended today, April 14, 2014. Further to the relevant facts dated 12th September, 2014 and 24th September, 2014, BBVA hereby communicates that the trading period for the free allocation rights of the free-of-charge capital increase adopted under Agenda item four section 4.2 by the Annual General Meeting of Banco Bilbao Vizcaya Argentaria, S.A.
During the period set for that purpose, the holders of 8.99% of the free allotment rights have accepted BBVA’s undertaking to acquire such free allotment rights. Consequently, BBVA has acquired 433,637,066 rights for a total consideration of 43,363,706.60 Euros. BBVA has decided to initiate strategic review of alternatives for its mandatory pension fund administrators business in Latin America. Despite this being a highly attractive business, its limited relationship with BBVA´s core business, the universal banking activity, advises the initiation of this process.
As of today, BBVA has received the required administrative authorisations to give full effect to the resolutions approved by the Board of Directors of BBVA in its meeting held on 20 December 2018. Further to the Relevant Event published on August 7, 2019, with registration number at the Spanish CNMV , BBVA informs that, as of today, after obtaining all required authorizations, BBVA has completed the sale to Banco GNB Paraguay, S.A., an affiliate of Grupo Gilinski, of its direct and indirect shareholding stake of 100% share capital in Banco Bilbao Vizcaya Argentaria Paraguay, S.A. Further to the Relevant Events published on November 16, 2020, with registration numbers at the Spanish CNMV 575 and 576, BBVA informs that, as of today, after obtaining all required authorizations, BBVA has completed the sale to The PNC Financial Services Group, Inc. of 100% of the capital stock of its subsidiary BBVA USA Bancshares, Inc., which in turn owns all the capital stock of the bank, BBVA USA.
Further to the Relevant Events published on November 15, 2021, with registration numbers at the Spanish CNMV 1165 and 1169, BBVA informs that, as of today, BBVA has submitted to the Capital Markets Board of Turkey the application for authorisation of the voluntary takeover bid for the entire share capital of Türkiye Garanti Bankası A.Ş. Not already owned by BBVA in accordance with Section 4 of the Communiqué on Takeover Bids (Pay Alım Teklifi Tebliği) no. The Board of Directors of BBVA has agreed to modify the Group’s shareholder distribution policy currently in force, which was communicated as relevant information on 1 February 2017, with registration number , establishing a new policy consisting in an annual distribution of between 40% and 50% of the consolidated ordinary profit of each year, compared to the previous policy of distributing between 35% and 40%. BBVA informs of the finalization, as of today, of the acceptance period of the voluntary tender offer (“VTO”) launched by BBVA for the entire share capital of T. In full compliance with Spanish securities markets rules, BBVA discloses price sensitive information on a regular basis to Comisión Nacional del Mercado de Valores , the Spanish securities market regulator. The complete texts of the Significant Events can be accessed on this page and on CNMV’s website.
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The maximum aggregate amount of consideration payable by BBVA is 31,595 million Turkish Lira assuming all Garanti BBVA’s shareholders sell their shares. Notice is hereby given of the partial execution of the share capital reduction resolution adopted by the Ordinary General Shareholders’ Meeting of BBVA held on 18 March 2022, under item seven of its agenda, through the reduction of BBVA’s share capital in a nominal amount of 137,797,167.90 euros, and the consequent redemption of 281,218,710 own shares of 0.49 euros par value each held by the Company as treasury shares. “BBVA International Preferred SA”, a subsidiary guaranteed at 100% by BBVA, has published an exchange offer in relation to 3 issues of preferred securities sold to institutional investors for a nominal amount of approximately 1,500 million euros. BBVA has completed the acquisition of 24,8902% of the total issued share capital of Turkiye Garanti Bankasi, AS. BBVA has completed today the acquisition of a 100% of the share capital of Unnim Banc, S.A. (“UNNIM BANC”), having obtained the necessary authorizations to execute the agreement which was announced to the markets on March 7, 2012.
- The detailed results of the capital ratio stress test published today by the European Banking Authority are attached.
- It has been decided to propose to the Board, in the next board meeting to be celebrated next December 22, the adoption of the decision to distribute the third gross interim dividend against 2009, which would be paid on December 28, 2009, amounting to 0,09 euros for each of all current issued shares.
- Following the implementation of DBRS Rating European Covered Bonds methodology published on 17th December, 2014, DBRS Rating Limited has upgraded by one notch BBVA’s Mortgage Covered Bonds rating, from A to AA .
- The board of directors of BBVA, at its meeting held today, May 4, 2011, has resolved to appoint the director Mr. José Maldonado Ramos as member of the Executive Committee.
In furtherance of the agreement announced to the markets on June 28, 2012 and after having obtained the necessary approvals, today BBVA completed the sale of its business in Puerto Rico to Oriental Financial Group Inc. BBVA has reached today an agreement (the “Agreement”) with MetLife, Inc., for the sale of the 64.3% share capital that BBVA holds in the Chilean pension fund manager Administradora de Fondos de Pensiones Provida S.A. On July 31st, 2017 DBRS Ratings Limited has upgraded BBVA’s Cédulas Hipotecarias rating by two notches to AAA from AA, as a result of the incorporation of new performance data for BBVA’s mortgage portfolio in accordance with its methodology for mortgage covered bonds. BBVA’s Board of Directors, in a meeting held today, has approved, following the proposal of the Appointments Committee, the succession plan for the Chairman of the Board, Mr. Francisco González Rodríguez, designating Mr. Carlos Torres Vila to fill the position of executive Chairman of BBVA from the moment the current Chairman leaves office.
As a result of the Supervisory Review and Evaluation Process carried out by the European Central Bank , BBVA has received a communication from the ECB requiring BBVA to maintain, on a consolidated basis, effective from the 1st of January 2018, a phased-in total capital ratio of 11.938%. The Board of Directors of BBVA has resolved to propose to the Annual General Meeting of Shareholders a cash payment in a gross amount of EUR 0.15 per share as final dividend for 2017 that will be paid on 10 April 2018 if approved. The Board of Directors of BBVA has resolved to propose to the Annual General Meeting of Shareholders a cash payment in a gross amount of EUR 0.16 per share as final dividend for 2018 that will be paid on 10 April 2019 if approved. As a result of the Supervisory Review and Evaluation Process carried out by the European Central Bank , BBVA has received a communication from the ECB that implies the requirement for BBVA to maintain, as from the 1st March 2019 on a consolidated basis, a CET1 capital ratio of 9.26% and a total capital ratio of 12.76%. Fitch Ratings has upgraded BBVA’s senior preferred debt long term rating to A from A-. In the same rating action, the agency has affirmed BBVA’s long and short term Issuer Default Rating at A- with negative outlook and F2, respectively.
Scotiabank acuerda comprar a BBVA un 68 pct de filial chilena
As external auditor of BBVA and of its consolidated Group for the financial years 2017, 2018 y 2019. As announced in the relevant event dated 25 October 2013, BBVA’s shareholder remuneration policy establishes the distribution of an annual pay-out of between 35% and 40% of the profits obtained in each financial year and the progressive reduction of the remuneration via “Dividend Options”, so that the shareholders’ remuneration would ultimately tickmill online be fully in cash. The Board of Directors of BBVA has approved an issuance of securities contingently convertible into ordinary shares of BBVA (the “Securities”) up to a maximum amount of 1,000 million euros, excluding the shareholders’ pre-emption right (the “Issuance”). Attached please find a release informing of the result of the preferred securities exchange offer that was announced through a relevant event dated October 6, 2009.
The board of directors of BBVA, in its meeting held today 26 September, has agreed the appointment of the director Mrs. Belén Garijo López as member of the Audit and Compliance Committee. Apart from the referred change, the board committee maintains the same composition. In line with the usual dividend payout schedule, BBVA’s Board of Directors has resolved today the distribution in cash, as gross interim dividend against 2014 results, of euro 0.08 for each of all current issued shares. Pursuant to the agreements disclosed to the market on November, 19th, 2014, on the date hereof, BBVA, has completed the acquisition of 14.89% of the total share capital of Turkiye Garanti Bankasi, A.S.
Further to the relevant facts dated March 20, 2013 and April 3, 2013, BBVA hereby communicates that the trading period for the free allotment rights of the free-ofcharge capital increase adopted under Agenda item four section 4.1 by the Annual General Meeting of Banco Bilbao Vizcaya Argentaria, S.A. Shareholders held on March 15, 2013 and corresponding to the “Dividendo Opción” program, has ended today, April 22, 2013. Further to the relevant facts dated September 13, 2013 and September 25, 2013, BBVA hereby communicates that the trading period for the free allotment rights of the free-of-charge capital increase adopted under Agenda item four section 4.2 by the Annual General Meeting of Banco Bilbao Vizcaya Argentaria, S.A.
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(“Garanti Bank”), therefore, BBVA´s total stake in Garanti Bank now amounts to 39.90%. BBVA’s Board of Directors has resolved today the distribution in cash, as gross interim dividend against 2015 results, of euro 0.08 for each of all current issued shares. BBVA notifies that its Board of Directors, at its meeting held today, March 31, 2016, has adopted a resolution, in a process of corporate reorganization of its banking subsidiaries in Spain, to commence the process for the integration of the companies belonging to the BBVA Group, Catalunya Banc, S.A., Banco Depositario BBVA, S.A. Pursuant to the sale and purchase agreement disclosed to the market on February, 21st, 2017, and after fulfilling all the conditions precedent included therein, on the date hereof, BBVA, has completed the acquisition of 9.95% of the total issued capital of Turkiye Garanti Bankasi, A.S., therefore, BBVA´s total stake in Garanti Bank now amounts to 49.85%.
Analyst rating
Further to the relevant events filings, 7th and 29th March 2012 , BBVA hereby discloses that during the voluntary conversion period orders have been received to convert 9,547,559 BBVA Subordinated Mandatory Convertible Bonds – December 2011 (the “Convertible Bonds”) for a total amount of 954,755,900, ie. In relation to the relevant event disclosed today by BBVA, regarding the sale of its business in Puerto Rico to Oriental Financial Group Inc., BBVA clarifies that the capital gain arising from the sale of said business for 500 million USA dollars, a price equivalent to 1.03 times the ratio price/tangible book value, will approximately be of 5 million euros. BBVA’s Board of Directors has approved today the distribution, as gross interim dividend against 2012 results, of euros 0.10 for each of all current issued shares. In furtherance of the relevant information announced to the markets on December 24, 2012, after having obtained the necessary approvals, BBVA announces that it has completed today the sale of its total stake in the Colombian company “BBVA Horizonte Sociedad Administradora de Fondos de Pensiones y Cesantías S.A.” to Grupo Aval Acciones y Valores, S.A.
Following the relevant event number 578 disclosed on November 16, 2020, BBVA declares that the conversations in relation to a potential merger transaction with Banco de Sabadell, S.A. The Board of Directors of BBVA has resolved the payment of a cash interim dividend of euro 0.08 per share on account of the 2021 dividend, to be paid on 12 October 2021. S&P Global Ratings (S&P) has upgraded by one notch BBVA’s long-term issuer credit rating to A from A- and shortterm ICR to A-1 from A-2. The outlook has changed to negative from stable, mirroring now the negative outlook of Spain’s Sovereign S&P’s current rating. The Board of Directors of BBVA has resolved the payment of a cash interim dividend of euro 0.12 per share on account of the 2022 dividend, to be paid on 11 October 2022.
Annual
Standard & Poor’s Ratings Services (S&P) has today upgraded BBVA’s long-term rating (“Issuer Credit Rating – ICR”) to BBB from BBB-. Following the implementation of DBRS Rating European Covered Bonds methodology published on 17th December, 2014, DBRS Rating Limited has upgraded by one notch BBVA’s Mortgage Covered Bonds rating, from A to AA . Standard & Poor’s Ratings Services (S&P) has today upgraded BBVA’s long-term rating (“Issuer Credit Rating – ICR”) to BBB+ from BBB.