The CEO of BBVA, Onur Genç, has opened the door to leading new corporate movements through purchases, after leaving the American market and his commitment to growth in Turkey, despite the political situation in the country. On the investor's day, which was held in London, the manager literally said in his speech that "there could be additions to the portfolio". That itself has clarified that it would have to be "a large bank, with a high market share."
BBVA number two has not specified whether it is a physical entity or it could also be a corporate operation more linked to the digital world.
However, these words gain strength in Spain, since a couple of years ago the merger with Sabadell was broken due to differences in price.
In his speech, Genç focused on outlining the bank's strategy and highlighted the prospects in some of its main markets, such as Spain and Mexico. Specifically, in Spain he has defended that credit is going to grow at a one-digit rate throughout the year and the interest margin will increase by around 5%. While in Mexico, the credit portfolio will grow at double digits and the interest margin will be around 20%. The manager has also exposed data from Italy, a market in which he does not usually place much emphasis. Specifically, he has defended that after a year of presence in the Alpine country it already has 108,000 new clients.
The CEO has defended that the bank is prepared for the new challenges with the new economic cycle. And for this he has offered some figures. Its first quality capital stands at 12.45% as of June 30, when the bank's objective was to place it in a range between 11.5 and 12%.
Regarding the creation of value for the shareholder, the manager has put on the table that the profitability per dividend is 6.3% above the 5.4% of the average of European competitors and 4.1% of the Spanish.
Regarding the distribution of dividends, Genç has maintained the bank's strategy, which involves distributing between 40% and 50% of consolidated ordinary profit, which could include more share buybacks.