Banco Bilbao Vizcaya Argentaria (BBVA) is a multinational Spanish banking group. BBVA is the second largest bank in Spain and 15th largest financial institution in the western world with a market capitalization of over 61 billion euros. The bank has recently focused on overseas expansion, and now operates in 40 countries.
Like many other Spanish companies, it enjoys a dominant position in Spanish-speaking Latin American countries. It also has a presence in many Mediterranean countries, especially Portugal and Italy, and has announced its intention to expand into the United States and in Asia. In the year 2006, BBVA outbid Banco Santander Central Hispano, Bank of America, and formed an alliance with China CITIC Bank by acquiring a stake in the bank and in CITIC International Financial Holdings Limited (CIFH), China Citic Group's main international arm.
Best Banks in Central and Eastern Europe for 2009 - 14.05.2010 The following are the «Best Banks in Central and Eastern Europe for 2009» according to rankings published by Global Finance magazine: Source: Global Finance
Big banks slashed small business credit lines - 13.05.2010 The biggest Wall Street banks slashed their small business loan portfolios by 9% between 2008 and 2009, more than double the rate at which they cut their overall lending, according to a government report released Thursday. Source: CNN Money
European Union agrees on €750bn bailout fund for eurozone - 10.05.2010 Crisis-hit Europe on Monday announced a monster rescue package running to 750 billion euros between euro countries and the IMF, sending the euro surging in Asian trade. Leaders hope an unprecedented international intervention, worth just shy of one trillion dollars, will represent a game-changing European financial war chest, which will also be backed by European Central Bank action to nudge debt and currency markets. Source: Financial News
Debt crisis may hurt banks outside Greece - 06.05.2010 Credit ratings agency Moody's Investor Service said the banking systems in Portugal, Italy, Spain, Ireland and Britain could all be hurt by a widening debt crisis. Source: Associated Press
Bank of Russia cuts discount rate - a historic low for Russia - 04.05.2010 The Bank of Russia slashed its discount rate by another 0.25 percent from April 30. Starting tomorrow, the rate will be 8 percent per annum - a historic low for Russia. Source: RBC
