German insurer Allianz has struck a deal to invest in the bancassurance business of Spanish lender BBVA , two sources close to the matter told Reuters, adding that an announcement could come as early as Monday. The two financial institutions will cooperate in…
Rating Action: Moody's downgrades eight Mexican banks and the IPAB; outlook negative. Global Credit Research- 22 Apr 2020. Mexico, April 22, 2020-- Moody's de México has today downgraded to Baa1, from ...
BBVA earnings call for the period ending March 31, 2020.
The bank says it has lent in less than 60 days what it might typically do over the course of 10 years.
The 2008 Financial Crisis vs. The Covid-19 Crisis. The third in Stephanie MacConnell's series explores the timeline from the financial crisis to the industry-shaping boom we saw in FinTech following the burst of the housing bubble.
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German insurer Allianz has struck a deal to invest in the bancassurance business of Spanish lender BBVA , two sources close to the matter told Reuters, adding that an announcement could come as early as Monday.
BBVA USA announced today it awarded $600,000 to Feeding America®, a nationwide network of food banks. The organization will distribute funds to food banks across the bank's geographic footprint.
Designer particles that are embued with nanomachinery for autonomous motion have great potential for biomedical applications; however, their development is highly demanding with respect to biodegradability/compatibility. Previously, biodegradable propulsive m…
German insurer Allianz has struck a deal to invest in the bancassurance business of Spanish lender BBVA , two sources close to the matter told Reuters, adding that an announcement could come as early as Monday. The two financial institutions will cooperate in…
BBVA earnings call for the period ending March 31, 2020.
Moody's Investors Service, ("Moody's") today affirmed the long-term and short-term deposit ratings of GarantiBank International N.V. (GBI) at Ba1/Not Prime, as well as the bank's ba2 standalone Baseline Credit Assessment (BCA) and its ba1 Adjusted BCA. The rating agency also affirmed GBI's long-term and short-term Counterparty Risk Ratings (CRRs) at Baa3/Prime-3, and the bank's long-term and short-term Counterparty Risk (CR) Assessment at Baa2(cr)/ Prime-2(cr). Today's rating action reflects the deteriorating operating environment from the coronavirus outbreak in Europe and the associated downside risks to GBI's standalone credit profile.
From the Wall Street Journal’s May survey: Figure 1: GDP in billions of Ch.2012$, SAAR, reported (black bold), WSJ survey mean (green), lowest q4/q4 estimate from Daniel Bachman at Deloitte (tan), and highest from James F. Smith at Parsec Financial (red). Sou…
Moody's Investors Service ("Moody's") has today assigned first-time Baa1 and Prime-2 long- and short-term global local and foreign currency deposit ratings to Banco BBVA Perú S.A. (BBVA). Moody's also assigned a baa2 baseline credit assessment (BCA) and adjusted BCA, and A3 and P-2 long- and short-term counterparty risk ratings, respectively.
BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today a net loss of $2.2 billion for the first quarter of 2020. Included in first quarter 2020 results is goodwill impairment (non-cash charge) totaling $2.2 billion reflecti…
“The harsh reality is that FinTechs have moved ‘from disruption to reality,’ and banks that haven't embraced effective collaboration with startups are struggling to retain and acquire new customers.”
(Bloomberg) -- Banco Bilbao Vizcaya Argentaria SA took a combined hit of 3.5 billion euros ($3.8 billion) for virus-related provisions and a second consecutive charge at its U.S. business to post its biggest-ever quarterly loss.BBVA, which is focused on emerging markets in Latin America and Turkey, reported a first-quarter net loss of 1.8 billion euros. The virus impact alone accounted for about half of the 2.6 billion euros the bank set aside to cover loan losses. The shares fell as much as 6.1%.The lender is joining other global banks in setting aside billions of dollars to deal with the future economic effects of the outbreak. BBVA -- along with bigger Spanish rival Banco Santander SA --already had one of the highest levels of provisions among European lenders, reflecting its exposure to volatile emerging markets.Mexico, which accounts for almost half of group profit, was the largest contributor with a total of 773 million euros set aside. Spain, where BBVA expects the economy to contract by as much as 10.5%, saw the biggest rise in provisions, with 517 million euros for the virus on top of 143 million euros in recurring provisions.Provisions were calculated on expectations of a deep recession in second quarter, with the economy starting to recover after that, BBVA Chief Executive Onur Genc said on a conference call. “We did things a bit different to our European peers,” he said. “We have front loaded all of the correlated provisioning in the first quarter.”BBVA’s drop on Thursday pushed the decline this year to 40%. The stock was down 4.3% as of 12:18 a.m. while the 600 Banking Index was little changed.The extraordinary provisions saw BBVA’s capital ratio fall 90 basis points to 10.8%, giving it one of the lowest capital buffers in Europe. The bank said it will reduce its new target range to 10.8% to 11.3% from 11.5% to 12%. The European Central Bank has given lenders leeway to dip into capital reserves to allocate funds for more lending during the crisis.What Bloomberg Intelligence Says“The key negative of BBVA’s results is the CET1 ratio, which plunged to 10.8% -- well below Spanish and European peers -- which will add to solvency concerns and postpone the return of dividends.”\-- Georgi Gunchev, BI banking analystClick here to see the full report BBVA said on Thursday it won’t be paying a dividend on 2020 earnings in order to preserve capital.In the U.S., the bank set aside 280 million euros for loan losses linked to the oil-and-gas industry. The global oil market has been roiled by a combination of a price war and a plunge in demand as economies shut down to contain the spread of the virus.BBVA is strong in the U.S. southern “sun belt”, especially Texas, giving it an exposure of about 13.4 billion euros to the oil and gas sector. It identified 4.6 billion euros of loans in that sector, mainly in the U.S., that are vulnerable to default.U.S. BluesThe U.S. unit, which normally accounts for about 10% of group profit, posted a loss of 100 million euros. The business has been a continual headache for the bank. BBVA booked writedowns in 2009 and 2011 and last year took a 162 million-euro impairment after a push into consumer lending backfired.Profit in Mexico, normally the bank’s most consistent generator of income, fell 41% mainly due to provisions. But core revenue was also weak, with net interest income rising just 3% and fees declining by 1.4%Turkey has proved to be BBVA’s most problematic investment in recent years after a currency crisis in 2018 triggered a mass of loan defaults. BBVA in recent years has been seeking to reduce its portfolio of soured loans, a remnant from the financial crisis that peaked in 2012 after Spain’s real estate market collapsed.Spanish rivals also increased provisions in the quarter to account for coronvirus-related loan losses. Banco Santander SA on Tuesday said it would set aside 3.9 billion euros for loan losses, the most in its history. The bank said 1.6 billion of those provisions were for Covid-19-related soured loans. CaixaBank SA and Banco de Sabadell SA set aside 400 million euros and 213 million euros respectively specifically for the virus, eating into their profits.(Updates with details of capital ratio target in sixth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
PAC earnings call for the period ending March 31, 2020.
The Oil Prices Outlook for April 2020, published by BBVA Research, indicates that oil prices will remain very low in the second quarter of 2020 but are likely to recover by the second half of the year as the worst of the pandemic is left behind.
Research demonstrates the disproportionate impact of pollution on Indigenous peoples worldwide, as well as their resistance.
The BBVA Research team has published its U.S. Macroeconomic Pulse for April 2020, offering insight into the economic outlook as well as macro fundamentals.
Stripe and Shopify have transformed the face of commerce for small business users, yet when it comes to putting that cash somewhere, SMBs have found that the banking options aren’t quite as transformative. Wise is a new challenger bank built specifically for …
The Oil Prices Outlook for April 2020, published by BBVA Research, indicates that oil prices will remain very low in the second quarter of 2020 but are likely to recover by the second half of the year as the worst of the pandemic is left behind.
New York, April 22, 2020 -- Moody's Investors Service, ("Moody's") has today downgraded to Baa1, from A3 long-term global scale senior unsecured debt ratings of BBVA Bancomer, S.A. Texas Agency (BBVA México), Banco Santander México, S.A. (Santander México), Banco Mercantil del Norte, S.A. (Cayman I) (Banorte), Nacional Financiera, S.N.C. (Nafin), and Banco Nacional de Comercio Exterior, SNC (CI) (Bancomext). The rating outlook remained negative.
Goodwill impairments are rare under normal economic conditions but can spike when triggered by an extreme event that significantly affects markets.
New York, April 22, 2020 -- Moody's Investors Service, ("Moody's") has today downgraded to Baa1, from A3 long-term global scale senior unsecured debt ratings of BBVA Bancomer, S.A. Texas Agency (BBVA México), Banco Santander México, S.A. (Santander México), Banco Mercantil del Norte, S.A. (Cayman I) (Banorte), Nacional Financiera, S.N.C. (Nafin), and Banco Nacional de Comercio Exterior, SNC (CI) (Bancomext). The rating outlook remained negative.
In 2016, Spanish banking group BBVA offered to its Spain-based customers a personal finance management app. One of the app’s tools used machine learning algorithms to sort customer transactions into common budgeting categories such as rent, food, and entertai…
Groove, a San Francisco-based firm, provides sales teams with tools to monitor their communications with clients.
Moody's Investors Service, ("Moody's") has today affirmed the Baa2 long-term issuer rating of MERLIN Properties SOCIMI, S.A. (MERLIN). Consequently, Moody's affirmed all Baa2 ratings on its senior unsecured issuances as well as the Baa2 senior unsecured ratings on the notes issued by Metrovacesa S.A. and assumed by MERLIN.
Rating Action: Moody's downgrades eight Mexican banks and the IPAB; outlook negative. Global Credit Research- 22 Apr 2020. Mexico, April 22, 2020-- Moody's de México has today downgraded to Baa1, from ...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Banco Bilbao Vizcaya Argentaria, S.A. Madrid, May 12, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banco Bilbao Vizcaya Argentaria, S.A. and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
German insurer Allianz
Goodwill impairments are rare under normal economic conditions but can spike when triggered by an extreme event that significantly affects markets.
The BBVA Research team has published its Economic Outlook for second quarter 2020, offering a look at how the U.S. economy might recover in a post-COVID world.
BBVA USA announced today it awarded $600,000 to Feeding America®, a nationwide network of food banks. The organization will distribute funds to food banks across the bank's geographic footprint.
Let's see if Banco Bilbao Viscaya (BBVA) stock is a good choice for value-oriented investors right now from multiple angles.
BBVA USA has funded approximately $3.3 billion small business loans in less than 60 days, processing more than 22,000 applications and impacting approximately 360,000 jobs through its efforts in the Small Business Administration's (SBA) Paycheck Protection Program (PPP), the bank announced today.
BBVA USA Bancshares, Inc., a Sunbelt-based bank holding company (BBVA USA), reported today a net loss of $2.2 billion for the first quarter of 2020. Included in first quarter 2020 results is goodwill impairment (non-cash charge) totaling $2.2 billion reflecting the drastic change in macroeconomic conditions and forecasts brought about by the COVID-19 pandemic. Excluding the impact of this non-cash charge, the adjusted net loss1 for the quarter was $52 million, further reflecting the abrupt decline in interest rates and higher provision expense necessary to reflect the economic and business disruption caused by the pandemic.
Q1 2020 Amadeus IT Group SA Earnings Call