HE head BBVA, Carlos Torres Vila, issues the stock market’s banking storm this week “certain conditions certain banks In the US and Europe,” he refers to Swiss Credit Suisse and the American Silicon Valley Bank, Signature and Fist Republic. The banker thus indirectly defended and stood out for the banking industry’s general condition. “trust” that despite the recent turmoil, your presence will have a good year. “We believed that opportunities offered by the current environment. there are manydespite ongoing challenges In 2023,” he stated before the shareholders’ meeting.
Thus, Torres, ‘very sharp’ rate hike Interest rates increased by central banks to fight inflation “influence” on the markets causing financial “periods of volatility and uncertainty” like this week “Despite the uncertainty and volatility, We welcome 2023 with confidence. At times it is like the present; strength and robustness your model business and risk management BBVA’s,” he assured.
In this year, he pointed out, “context of uncertaintyboth geopolitically and financially, high inflation and possible runoff effects, which is higher rates and longerbut the latest financial volatility has changed the expectations the market has”. However, he reminded, economic data the newest better than expected a few months ago, “due to the robustness of the labor market, low tensions in supply chains and moderate raw material prices” in both Europe and the United States.
Inside Spaincontinued, the economy “lasted better than expected” and growth “may even be to speed upin the first quarter “adaption” from the economy increased energy costuse of some accumulated savings Best prospects during the pandemic and in the global economy. “Again some risks remainThe bank forecasts GDP growth of 1.6% in 2023.
Salaries and Villarejo
During the intervention of the shareholders, Louis del Rivero -former head Sacyr allegedly investigated by commissioner Villarejo on behalf of the bank when the construction company tried to take control of the asset – back Blaming the BBVA for the fourth year in a row Failure to cooperate with the National Court in the investigation of the case. Therefore, he referred to several articles in this sense. financial And court cause also demanded its creation once again. independent organization within the bank to oversee the process. dismissal of directors who have been on duty since the group hired the police.
As usual, the president did not answer him, but council secretary Echoing the message provided by BBVA, Domingo Armengol said, “full cooperation” fair and will continue “to act with care”. Likewise, the current managers of the bank they didn’t have a role in the facts investigated and in which these facts do not lead to any conclusions The bank is not responsibledespite being accused as a legal person.
This unionson their behalf, they claimed Salary increase and what do i know stop relevance employee mortgage 1.5%, among other claims. Torres said the bank is already working to “improve” the conditions of its workforce and is increasing its headcount.
load families
The banker likewise demonstrated that he was aware that interest rate hikes meant a return. “Additional burden on family economy” and stated that his bank called “Answers” Faced with this situation, as well as the Principles of Good Practice that the industry has agreed with the Government, it is also “additional alternatives to facilitate the payment of your mortgage and to “lighten the situation” of its customers. vulnerable groups those who need a differentiated service, such as the elderly.
He added that the work of the bank was concluded. “unprecedented” tax contribution almost 11,000 million euros the addition of BBVA and corresponding third-party taxes (for example, taxes on services received from employees or suppliers). Likewise, he underlined that the group has. removed the template about 11,000 people per year and up to 5% 115,000 employees.
“In short, at a time like the present, all we have to row in the same direction. For this reason, as BBVA, we will continue to support families and businesses and support growth for a more prosperous, sustainable and inclusive society that leaves no one behind.”