Created before Nov 2016
Last update: 2018-05-08 15:59:30
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Banco Bilbao Vizcaya Argentaria (BBVA), is a multinational Spanish banking group. It was formed in 1999 from a merger of Banco Bilbao Vizcaya and Argentaria. It provides financial services in over 31 countries and to 51 million customers throughout the world. The group has a leading position in the Spanish market, where it began operating over 150 years ago. It also has franchises in South America, where it is the main financial institution in Mexico. It is one of the 15 biggest banks in the United States, where it has a franchise in the Sunbelt region. BBVA employs near 109,000 people worldwide and has about a million shareholders. In March 2017 BBVA acquired a 50% ownership of Garantibank, Turkey.
Plaza San Nicolás, 4
Mr. Francisco González |
|Annual report||Annual integrated report 2017|
listed on Bolsa de Madrid, Bolsa Mexicana de Valores & NYSE Euronext
Publicly listed company. BBVA's share holder structure can be viewed here.
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Voluntary initiativesBBVA has committed itself to the following voluntary standards:
BBVA's webpage on corporate social responsibility can be accessed here.
BBVA and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. BBVA adopted the Equator Principles in 2004.
Reporting on the Equator Principles
BBVA must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
BBVA is involved in financing the following Equator Principles projects that BankTrack considers controversial.
True leader Front runner Follower Laggard
BankTrack has assessed BBVA on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. BBVA is assessed as a Follower, with a total score of 3.5/12.
Implementation and reporting
BBVA is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Thun Group banks revise human rights paper following BankTrack demands
In February, BankTrack coordinated and sent an open letter to the 11 banks that signed a Discussion Paper by the Thun Group, calling for the paper's withdrawal. The paper took as its starting point that banks do not contribute to human rights abuses through their finance, flying in the face of UN advice on banks’ human rights responsibilities. The concerns raised in the letter were quickly echoed by others, and following further discussions the paper was revised in December, partially addressing the concerns.
Thun Group of Banks agrees to consider remedy for victims of human rights abuse
In 2013 the seven-strong Thun Group of Banks' produced a discussion paper on banks' responsibilities under new UN human rights guidelines. BankTrack's response to the paper highlighted that the banks had failed to address their responsibility to provide access to remedy to victims of human rights abuses. After we pushed the point further at a conference with the banks in 2014, they agreed to "explore options for addressing ... access to remedy." We look forward to the outcome.