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BBVA Has Renegotiated 66,166 Mortgages Since Start of Crisis

2 June 2015 – Expansión

BBVA has refinanced 66,166 mortgages and granted 11,680 “daciones en pago” (assignment of deeds in lieu of payment) since the start of the crisis, according to the report ‘BBVA’s Social Impact in Spain’, which was presented by the entity yesterday, having been prepared in collaboration with KPMG. The report seeks to quantify and detail the social impacts associated with the bank’s activity.

In Spain, 896,203 families live in homes financed by BBVA and during 2014, the entity granted new loans worth €1,379 million to 13,394 families for the acquisition of first homes. In addition, it financed 17,416 homes so that they could undertake energy efficiency improvements.

In terms of employment, BBVA has launched various initiatives such as “Yo Soy Empleo”, which has granted direct aid for the recruitment of almost 8,500 people; and “Project Momentum”, which has a 60% job placement rate.

The total number of jobs linked to the bank’s activity, including indirect or induced roles, amount to almost 100,293 people, i.e. 0.6% of the active Spanish working population.

Meanwhile, 951,284 individual shareholders received an average dividend of €870; 940,367 people have pension plans; and 875,448 employed people are covered by employment pension plans managed by BBVA.

Original story: Expansión

Translation: Carmel Drake