|
|
|
|
|
19 |
Regarding shareholder remuneration, as approved by the General Shareholders Meeting on
March 17, 2023, in its first item on the agenda, on April 5, 2023, a cash payment of 0.31 gross per each outstanding BBVA share entitled to receive such amount was made against the
2022 results, as an additional shareholder remuneration for the financial year 2022. Thus, the total amount of cash distributions for 2022, taking into account the 0.12 gross per share that was
distributed in October 2022, amounted to 0.43 gross per share.
Total shareholder remuneration
includes, in addition to the cash payments mentioned above, the extraordinary remuneration resulting from the execution of BBVAs buyback program for the repurchase of own shares announced on February 1, 2023 for a maximum amount of 422m.
As of March 31, 2023, BBVAs share capital stood at 2,954,757,116.36, divided into 6,030,116,564 shares, at 0.49 par value each, although, on March 20, 2023, after receiving the required
authorization from the ECB, the Group began the execution of the aforementioned buyback program for the repurchase of own shares aimed at reducing BBVAs share capital through the redemption of the shares acquired. On April 21, 2023, BBVA
announced the completion of this share buyback program, having acquired 64,643,559 BBVA shares between March 20 and April 20, 2023, representing approximately 1.1% of BBVAs share capital as of said date.
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|
SHAREHOLDER STRUCTURE (31-03-23) |
|
|
|
|
|
|
|
|
Shareholders |
|
|
|
|
|
Shares issued |
|
|
|
|
Number of shares |
|
|
Number |
|
|
|
% |
|
|
|
Number |
|
|
|
% |
|
Up to 500 |
|
|
326,256 |
|
|
|
41.5 |
|
|
|
61,193,570 |
|
|
|
1.0 |
|
|
|
|
|
|
501 to 5,000 |
|
|
359,832 |
|
|
|
45.8 |
|
|
|
639,344,983 |
|
|
|
10.6 |
|
|
|
|
|
|
5,001 to 10,000 |
|
|
53,578 |
|
|
|
6.8 |
|
|
|
376,518,484 |
|
|
|
6.2 |
|
|
|
|
|
|
10,001 to 50,000 |
|
|
41,760 |
|
|
|
5.3 |
|
|
|
797,609,653 |
|
|
|
13.2 |
|
|
|
|
|
|
50,001 to 100,000 |
|
|
2,973 |
|
|
|
0.4 |
|
|
|
202,817,212 |
|
|
|
3.4 |
|
|
|
|
|
|
100,001 to 500,000 |
|
|
1,359 |
|
|
|
0.2 |
|
|
|
245,800,790 |
|
|
|
4.1 |
|
|
|
|
|
|
More than 500,001 |
|
|
273 |
|
|
|
0.03 |
|
|
|
3,706,831,872 |
|
|
|
61.5 |
|
|
|
|
|
|
Total |
|
|
786,031 |
|
|
|
100 |
|
|
|
6,030,116,564 |
|
|
|
100 |
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With regard to MREL (Minimum Requirement for own funds and Eligible Liabilities) requirements, BBVA must maintain, from
January 1, 2022, an amount of own funds and eligible liabilities equal to 21.46% of the total RWAs of its resolution group, at a sub-consolidated5
level (hereinafter, the MREL in RWAs). This MREL in RWAs does not include the combined capital buffer requirement which, according to applicable regulations and supervisory criteria, would currently be 3.30%. Given the structure of own
funds and eligible liabilities of the resolution group, as of March 31, 2023, the MREL in RWAs ratio stands at 26.89%6,7, complying with the aforementioned requirement.
With the aim of reinforcing compliance with these requirements, BBVA has made a debt issue during the first quarter of 2023. For more information on this
and other issues, see Structural risks section within the Risk management- chapter.
Lastly, as of March 31, 2023, the
Groups fully-loaded leverage ratio stood at 6.6% (6.6% phased-in)8.
Ratings
During the first quarter of 2023, BBVAs rating
has continued to show its strength and all agencies have maintained their rating in the A category. In March, DBRS communicated the result of its annual review of BBVA, affirming the rating at A (high) with a stable outlook. S&P, Moodys
and Fitch maintained BBVAs ratings unchanged in the quarter at A, A3 and A-, respectively, all three with a stable outlook. The following table shows the credit ratings and outlook assigned by the
agencies:
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|
|
|
|
|
|
|
|
|
|
|
Rating agency |
|
Long term (1) |
|
Short term |
|
Outlook |
|
|
|
|
|
|
|
DBRS |
|
A (high) |
|
R-1 (middle) |
|
Stable |
|
|
|
|
|
|
|
Fitch |
|
A- |
|
F-2 |
|
Stable |
|
|
|
|
|
|
|
Moodys |
|
A3 |
|
P-2 |
|
Stable |
|
|
|
|
|
|
|
Standard & Poors |
|
A |
|
A-1 |
|
Stable |
|
|
(1) Ratings assigned to long term senior
preferred debt. Additionally, Moodys and Fitch assign A2 and A- rating, respectively, to BBVAs long term deposits.
5 In accordance with the resolution strategy MPE (Multiple Point of Entry) of the BBVA Group, established by the SRB, the resolution group is made up of Banco Bilbao Vizcaya Argentaria,
S.A. and subsidiaries that belong to the same European resolution group. As of March 31, 2023, the total RWAs of the resolution group amounted to 206,655m and the total exposure considered for
the purpose of calculating the leverage ratio amounted to 508,210m.
6 Own resources and eligible liabilities to meet, both, MREL and the combined capital buffer requirement applicable.
7 As of March 31, 2023, the MREL ratio in terms of Leverage Ratio Exposure stands at 10.93% and the
subordination ratios in terms of RWAs and in terms of Leverage Ratio Exposure, stand at 23.59% and 9.02%, respectively, being preliminary data.
8 The Groups leverage ratio is provisional at the date of release of this report.