Banco Bilbao Vizcaya Argentaria, S.A.NYSE
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  • Feb. 20, 2014, 2:55 PM
    • "Banks need to take on Amazon and Google or die," wrote BBVA CEO Francisco Gonzalez in the FT two months ago. "Some bankers and analysts think that Google, Facebook, Amazon or the like will not fully enter a highly regulated, low-margin business such as banking. I disagree."
    • Founded in 2009, based in Portland, and having opened its (online) doors in July 2012, Simple just crossed the 100K customer mark - it has no physical branches and does not offer paper checkbooks. It has no fees and offers customers slick apps with which they can monitor spending activities. The bank's main revenue stream is from intercharge fees from debit card usage.
    | Feb. 20, 2014, 2:55 PM | 1 Comment
  • Aug. 29, 2013, 9:28 AM
    • MetLife (MET) commences its tender offer for all the stock of Chilean pension fund administrator Provida (PVD).
    • The acquisition was announced last February and is part of the insurer's plan to look to emerging markets for growth. Spain's BBVA has sold its 64% stake in the company to Met and the tender offer is for the remaining shares still outstanding.
    | Aug. 29, 2013, 9:28 AM
  • Jul. 21, 2013, 3:36 AM

    Spanish bank BBVA (BBVA) has agreed to sell its Panamanian unit to Colombia's Grupo Aval for $490M in the latest in a series of divestments in Latin America by the Spanish bank as it seeks to raise funds. However, it's also the latest withdrawal by European bank from a market where the economy is solid and the population young, and an ascendant middle class is open to more financial services. (PR)

    | Jul. 21, 2013, 3:36 AM
  • Feb. 1, 2013, 11:12 AM

    More on MetLife's (MET +2.2%) acquisition of Chile's Provida: The all-cash deal will boost the share of Met's operating earnings from emerging markets to 17% from 14%, and lift overall operating earnings by $0.05/share in 2013 and $0.15 in 2014. As previously mentioned, the move means investors need to ratchet down expectations for capital returns. (PR)

    | Feb. 1, 2013, 11:12 AM | 2 Comments
  • Feb. 1, 2013, 2:47 AM

    MetLife (MET) has agreed to acquire Chilean pension fund administrator AFP Provida for $2B in a deal that is part of the U.S. company's strategy of expanding in emerging markets. Banco Bilbao Vizcaya Argentaria (BBVA) will sell its 64.3% stake in Provida to MetLife, which will carry out a tender offer for the other shares. (previous)  (PR)

    | Feb. 1, 2013, 2:47 AM | 1 Comment
  • Dec. 19, 2012, 9:36 AM

    MetLife (MET) is reportedly in advanced talks to by the Chilean pension-management unit of Spain's BBVA, with sources putting the business' value at more than $2B. The deal's a natural as MetLife is looking for its growth abroad and BBVA is looking for cash to deal with problems back home.

    | Dec. 19, 2012, 9:36 AM
  • Jun. 28, 2012, 9:33 AM

    BBVA (BBVA +0.3%) agrees to sell its Puerto Rican ops for $500M to Oriental Financial Group (OFG +3.9%) as the Spanish firm continues the trend of major banks selling assets to boost capital. The deal also continues the consolidation among Puerto Rica's banks. (PR)

    | Jun. 28, 2012, 9:33 AM
  • May 24, 2012, 3:50 AM
    BBVA (BBVA) is considering the sale of its pension businesses in Latin America, calling it an attractive but non-core unit. BBVA is slow-boating it, saying the strategic review will take several quarters and a decision is unlikely to be made this year.
    | May 24, 2012, 3:50 AM
  • Nov. 29, 2011, 3:21 PM

    Just as U.S. banks are trying to aggressively cut their eurozone exposure, foreign banks are doing the same for their U.S. exposure. Deutsche considers this a positive for U.S. banks, to the extent it allows them to acquire assets (I, II) at reasonable prices. Banco Santander (STD) still holds $56B in U.S. loans; Banco Bilbao (BBVA) $45B; and Deutsche Bank (DB) $32B.

    | Nov. 29, 2011, 3:21 PM