BBVA Chairman: Plans To Distribute Nearly 20% Of Bank's Current Market Capitalization In 2021 & 2022

BBVA Chairman Carlos Torres Vila stated that, in 2021 and 2022, the Group expects to distribute more than 7 billion euros to shareholders. This includes the share buyback program and the expected dividends for both years. BBVA Chairman noted that the priority is profitable growth, but he did not rule out additional distributions to shareholders. The bank targets to be in its target range of a fully loaded CET1 capital ratio of 11.5-12 percent in 2024.

BBVA Chairman stated that, following the share buyback program initiated in the closing quarter of 2021, and assuming a 100 percent acceptance of the takeover bid for the 50.15 percent it does not own in Turkish unit, the company will still have a significant excess capital of more than 2 billion euros. The company will use this capital and any further capital it generates in future to continue investing in growing franchises and making additional distributions to shareholders.

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