| Project Detail |
This summary covers equity investments by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA or the Group), in its subsidiary in Türkiye, Türkiye Garanti Bankasi A.S. (BBVA-Türkiye or the Subsidiary). The investor has applied for a MIGA guarantee of up to USD1,000 million for capital optimization cover for a period of up to 3 years (the Project). This guarantee is part of a multi-country Mandatory Reserves Program with BBVA [link to Argentina SPG; link to Peru SPG]. BBVA is a global financial services group founded in 1857. The bank is present in more than 25 countries, has a strong leadership position in the Spanish market, is the largest financial institution in Mexico and it has leading franchises in South America and Turkey. BBVA contributes with its activity to the progress and welfare of all its stakeholders: shareholders, clients, employees, providers and society in general. In this regard, BBVA supports families, entrepreneurs and companies in their plans, and helps them to take advantage of the opportunities provided by innovation and technology. Likewise, BBVA offers its customers a unique value proposition, leveraged on technology and data, helping them improve their financial health with personalized information on financial decision-making. As of December 2024, the group employed 125,916 people across 5,749 branches and served more than 77.2 million customers. Further information on the BBVA Group can be found on https://shareholdersandinvestors.bbva.com/. BBVA Türkiye, has been 85.97% owned by the BBVA Group since 2022, with the rest of its shares publicly traded in Türkiye (Borsa Istanbul), and its depositary receipts are listed on the OTC (Over-The-Counter) Markets in the USA. BBVA Türkiye operates in every segment of the banking sector including corporate, commercial, SME, payment systems, retail, private and investment banking, with subsidiaries in pension and life insurance, leasing, factoring, brokerage and asset management, as well as international subsidiaries in the Netherlands and Romania, and serves 27.7 million customers through 795 branches as well as digital and mobile channels (as of December 2024). |
