BBVA - Press Room

• BBVA Chairman & CEO Francisco González highlights the bank’s commitment to the Basque region, its citizens, businesses, and institutions
• The bank’s business volumes in this Spanish region exceed €26 billion
• BBVA’s loan book stands at €8.78 billion, while assets under management total €17.41 billion

“BBVA is the undisputed leader in the Basque region by loans, deposits and wealth under management. It is the banker to 95% of large corporates in the region”, said Francisco González, Chairman & CEO of BBVA, during a series of working meetings held in Bilbao. At the end of May, BBVA had a loan book of €8.78 billion and assets under management totaling €17.41 billion. BBVA is also the benchmark financial institution across the Basque corporate landscape. “These facts and figures underscore BBVA’s strong commitment to the Basque region, its citizens, businesses and institutions”, added Francisco González.

Francisco González, who met today with regional governor, or lehendakari, Patxi López, and with the mayor of Bilbao, Iñaki Azkuna, held several working meetings with businessmen and women, shareholders and the management team of BBVA in the Basque region.

In his meeting with the management team, Francisco González highlighted that against the backdrop of the prevailing economic crisis engulfing Spain, “BBVA continues to outperform thanks to its winning business model, which meant that in 2008, the bank was able to extend its sustained earnings track record. This trend was ongoing in the first quarter of 2009 when BBVA posted excellent results, including €1.24 billion in attributable profit.”

According to the Chairman & CEO of BBVA, “the entity’s strengths are based on the recurring nature of its income, on our obsession to continually raise productivity and on prudent risk management. These factors give us an impressive wherewithal to generate capital organically, enabling us to remain a benchmark in Europe.”

Francisco González said that BBVA will be strengthened by the current economic climate because “we have a unique strategy, more relevant than ever before, based on three main pillars: principles, people, and innovation”.

“These three main pillars provide the foundation for a winning and robust business model, characterized by corporate positioning with a strong focus on retail banking and business diversification; prudent risk management; strict cost control; and highly disciplined balance sheet management,” he added.

He also underscored the importance of the business in Spain and in particular the Basque region, “without a doubt one of the main growth engines at the group.”

“Spain is key to BBVA’s growth, more than ever in the current climate. We must strengthen our leadership position as the leading banking franchise in Spain, in which the Basque region plays a vital role," he stated.

Turning to 2009, Francisco González said that “faced with a challenging and complex environment, at BBVA we are taking all precautions to further strengthen our balance sheet, because the 21st century bank is faced with a real revolution, based on innovation and transformation and underpinned by technology. Only a handful of banks will make is past the finishing post. BBVA is well on its way”.

BBVA, leader in the banking business

Francisco González, who was accompanied on his trip by the head of the northern division, Vicente Mestre, expressed his pleasure at being in Bilbao with the opportunity to meet the entire management team since, in his words: “Bilbao is the bank’s birthplace. It has strong roots here, an entrenched presence and it is the leader in the banking business”.

BBVA currently has 254 branches throughout the region, a workforce of 1,772 and €26 billion under management. It is the regional leader by loans and deposits and is the top ranked private bank.

BBVA has an extensive network of specialist branches put in place to service companies’ needs. The strategy is predicated on relationship management combined with specialization. It is the leader in both the SME and large corporate segments.

Today 95% of large corporates in the Basque region bank with BBVA. The bank also commands a high market share in the region among private and public institutions alike.