RSS
Логотип
Баннер в шапке 1
Баннер в шапке 2

Banco Bilbao Vizcaya Argentaria

Company

Financial services, investments and auditing
Since 1862
Europe
London
EC4N 6EU, 108 Cannon Street


width=200px
International company in the financial sector. Head office in Spain.

History

2021

Opportunity for BBVA Switzerland customers to invest in Ethereum

On December 13, 2021, it became known that BBVA Switzerland provided its customers with the opportunity to invest in. Ethereum According to the Swiss division, bank none of them had previously the European banks provided such services with altcoin.

For the first time in Europe, the bank offered customers investments in Ethereum
Photo: cloudfront.net

In the bank application, you can automatically convert Ethereum to euros or US dollars. BBVA Switzerland plans to continue to develop cryptocurrency service, since it is in demand among customers.

On June 21, 2021, customers of the Swiss division of BBVA also got the opportunity to buy, sell and store bitcoins.

As of December 2021, the assets of the Spanish bank BBVA (Banco Bilbao Vizcaya Argentaria) are estimated at $856 billion. BBVA operates in Turkey, Peru, Venezuela, Colombia, Switzerland and other countries.[1]

Separation of 10% of employees and closure of 480 bank branches

In early June 2021, the banking company BBVA announced the dismissal of 3,000 employees and the closure of 480 bank branches in its domestic market in Spain. The restructuring will affect 10% of the bank's employees in Spain and will entail a loss of 2,935 jobs.

Initially, the Spanish bank insisted on a larger goal - cutting 3,798 jobs and closing 530 branches, but was forced to retreat after facing a political backlash. About 657 employees who were under reduction were instead transferred to other positions to perform other tasks at the bank.

Spanish finance company BBVA fires 10% of employees and closes 480 bank branches

The reductions will affect 350 people from the corporate center, 254 from BBVA Spain's Central Services, 154 employees from intermediate structures of the Spanish company and 2,177 employees from BBVA banking branches.

The restructuring plan is estimated at expenses of 960 million euros before tax, of which 720 million euros correspond to collective layoffs and 240 million euros to the closure of branches.

BBVA expects the restructuring to bring estimated savings of about 250 million euros per year before taxes, starting in 2022, of which about 220 million euros will be related to personnel costs. In 2021, savings will be about 65 million euros before taxes.

According to the Spanish bank, adjusting the number of employees and the number of branches is necessary "to ensure competitiveness and sustainability of employment in the future, given the current context of deep changes in the sector, marked by huge competition pressures, low interest rates, accelerated introduction of digital channels by customers and the emergence of new digital players."

As of the end of March 2021, the bank had 2,366 branches and about 23,300 branches in Spain.[2]

2020: Sale of American business to PNC

In mid-November 2020, the Spanish financial corporation BBVA announced the sale of its American business to the PNC Financial Services Group. The deal is estimated at $11.6 billion. It is assumed that it will be closed in mid-2021. More details here.

Notes