July 31, 2019 / 10:37 AM / 20 days ago

BBVA sees no impact on business from spying case, reinforces compliance

MADRID, July 31 (Reuters) - The chief executive of Spain’s BBVA said on Wednesday the bank had not identified any relevant impact on its business related to an alleged spying case, but was treating the case “very seriously” and reinforcing its internal compliance.

On Monday, Spain’s High Court placed the country’s second-largest bank BBVA under formal investigation as part of a probe into the case that dates back to 2004, the court said in a statement.

“We have not identified any relevant direct impact caused by that situation related to our business or our stock performance,” BBVA CEO Onur Genc told reporters, adding though the bank was aware of the damage the case had made to its public image.

He said the bank had “clearly strengthened” its internal processes as part of “our constant improvement of policies, governance practices and procedures among other measures”.

“Will continue to do so,” he added. (Reporting By Jesús Aguado, editing by Andrei Khalip)

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