BRIEF-Turkish Garanti Is Critical Part of BBVA, Bank Does Not Comment on Rumours on Potential Sale, CEO Says

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- Chief Executive Officer and Chief Financial Officer of BBVA Say:

  • WE DO NOT COMMENT ON ANY RUMOUR REGARDING POTENTIAL SALE OF TURKISH GARANTI, TURKISH BANK IS CRITICAL PART OF BBVA

  • TURKEY IS ON A PATH OF NORMALISATION THOUGH THERE ARE STILL MANY RISKS AROUND CURRENCY, BUT WE HAVE THE BEST BANK IN THE COUNTRY

  • OUR MEXICAN AND TURKISH MARKETS ARE PERFORMING MUCH BETTER THAN WHAT WE EXPECTED EARLIER THIS YEAR

  • BANK DOES NOT FORESEE ANY MANAGEMENT CHANGES IN THE BANK FOLLOWING FAILED BID FOR SABADELL

  • BANK DOES NOT SEE A MATERIAL IMPACT FOR BBVA ASKED ABOUT BANKING TAX IN ITALY

  • BANK IS NOT EMBARKING ON NEW COMMERCIAL STRATEGY IN SPAIN FOLLOWING FAILURE OF SABADELL BID AS IS ALREADY GAINING MARKET SHARE

  • IT MIGHT BE JUSTIFIED TO REVIEW SPANISH TAKEOVER LEGISLATION FOLLOWING FAILED BID FOR SABADELL

  • THERE WILL BE MANY MORE SHARE BUYBACKS TO COME AS WE WILL BE REACHING A CAPITAL RATIO CLOSE TO 14%

  • OUR DIGITAL FOCUS IS CENTRED IN GERMANY AND ITALY

  • STAKE IN TELEFONICA IS A FINANCIAL INVESTMENT AND WE ARE A NOT PLANNING TO CHANGE IT

  • CAN CONFIRM THAT BBVA HAS NO CLIENTS IN THE DEFENCE SECTOR IN ISRAEL AND FULLY COMPLIES WITH SPANISH LEGISLATION

Further company coverage: BBVA.MC


(Reporting by Madrid Newsroom)

((jesus.aguado@thomsonreuters.com;))

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