2023-04-28 17:00:03
The CEO of BBVA, Onur Younghas stated that his entity is committed to distributing an extraordinary dividend this year or next using the excess capital of 4,000 million euros that it has after the sale of the business in the United States.
In the conference that was held to present the bank’s results for the first quarter, Genç once again insisted on the entity’s intention not to operate with excess capital and to carry the CET1 ratio ‘fully loaded’ to the range between 11.5% and 12%, compared to 13.13% registered at the end of March.
In this way, the entity currently has an excess of 4,000 million euros and the intention is to use it for organic growth, ruling out mergers or acquisitions. The surplus will be used to remunerate the shareholder, committing to an extraordinary payment this year or the next.
Genç has also indicated that the ROTE at the end of March was above 16.3%, but that the share continues to trade below book value. “It doesn’t make any sense,” he defended, before affirming the bank’s intention to continue with the share buyback programs.
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