Sunday. 27.11.2022
BUSINESS

Spanish bank BBVA plans 7-billion-euro share distribution

The company will use this capital and any further capital it generates in future to continue investing in growing franchises and making additional distributions to shareholders
Shares by Pixabay
Photo: Pixabay.

The chairman of the Spanish financial services firm Banco Bilbao Vizcaya Argentaria (BBVA) has announced a major share distribution plan.

Carlos Torres Vila stated that, in 2021 and 2022, the Group expects to distribute more than 7 billion euros (8 billion dollars) to shareholders.

This includes the share buyback programme and the expected dividends for both years.

The BBVA chairman noted that the priority is profitable growth but he did not rule out additional distributions to shareholders.

The bank aims to be in its target range of a fully loaded CET1 capital ratio of 11.5-12 per cent in 2024.

Excess capital

The BBVA chairman stated that, following the share buyback programme initiated in the closing quarter of 2021, and assuming a 100-per-cent acceptance of the takeover bid for the 50.15 per cent it does not own in Turkish unit, the company will still have a significant excess capital of more than 2 billion euros.

The company will use this capital and any further capital it generates in future to continue investing in growing franchises and making additional distributions to shareholders.

Spanish bank BBVA plans 7-billion-euro share distribution
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