🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

BBVA Chairman denies personal responsibility in alleged spying case

Published 31/01/2020, 14:16
BBVA Chairman denies personal responsibility in alleged spying case
BBVA
-
SCYR
-

By Jesús Aguado and Emma Pinedo

MADRID (Reuters) - The chairman of Spain's BBVA (MC:BBVA), Carlos Torres, on Friday denied any personal involvement in an alleged spying case linked to the bank, adding that he hoped the case would be resolved as soon as possible.

"As far as I'm concerned, there's no way I could be involved in these affairs," Torres, who took over as chairman in 2015, told journalists.

The allegations at the centre of the case date back more than 15 years and have roiled Spain's corporate sector.

News websites El Confidencial and Moncloa.com reported last year that Spain's second-biggest bank had hired Grupo Cenyt, a security firm belonging to former police commissioner Jose Manuel Villarejo, to investigate officials of construction company Sacyr (MC:SCYR) as part of efforts to stop a 2004 takeover bid.

Torres said BBVA had passed of all the relevant information in the case to Spain's High Court, whose investigation is being carried out under a secrecy order.

The bank is in permanent contact with the European Central Bank, who in September asked judicial authorities in Spain for information on the probe to evaluate any potential impact on the bank's governance, Torres added.

He reiterated that the bank bore no responsibility.

The bank has officially acknowledged that it hired Grupo Cenyt. But BBVA, which is being investigated on offences of bribery, disclosure of secrets and corruption in business and is also conducting its own probe, has said it had not found any evidence of spying.

While Torres said the case has had no impact on the bank's business or its reputation, it was in the bank's interest to see the case resolved as soon as possible and with full transparency.

"If the secrecy (of the case) is lifted we would be closer to the end of the investigation (...) the sooner the better," Torres said.

No members of the current board have been put under investigation regarding the case.

When asked if he or any board member would step down if the probe was extended to include them, Torres said there were no mechanisms in place regarding that outcome and dismissed any potential implications as speculation.

"What we would have to ensure is that anyone holding a position is suitable for that position in every case (...) but that scenario is a speculation," Torres said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.