BBVA seeks 13,000 million to finance credit growth
The bank is stepping up debt issuance to a record 11.675 billion to increase resources, as lending activity has exceeded all forecasts.
BBVA has increased its debt issuance to a record 11.675 billion euros, 72% more than initially planned, due to stronger-than-expected credit growth. The bank's loan portfolio grew 17.7% in the first half of the year, with increases of 7.4% in Spain and 10% in Mexico. BBVA now aims to raise between 11.000 and 13.000 billion euros in debt this year, up from 6.000-8.000 billion euros forecast three months ago.
The bank has already issued 11.674 billion euros in debt and plans to become a more regular player in the US debt market.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
