BBVA carried out in 2019 a reinforcement of its internal control systems coinciding with the judicial investigation that links the bank with Commissioner José Manuel Villarejo. The entity details in its 2019 corporate governance report that it has hierarchically subordinated the internal control report to the board of directors itself, has approved new policies in outsourcing and purchasing processes, and has reinforced the crime prevention model.

In this regard, the bank headed by Carlos Torres informs the National Securities Market Commission (CNMV) that it has carried out in recent months an intense internal investigation work through a forensic commissioned to Pwc and that the results of this examination "There is no implication of any of the current members of the board of directors, nor of the current executive president of the Entity, nor has the commission of criminal activities been verified by the bank."

The entity confirms again to the regulator that the current disclosures have not meant a deterioration of its business or its reputation, but it does not rule out that "potential fines and damages or damages to the reputation of the group" derive from the judicial investigation still under way.

"In its statement before the judge and the prosecutors at the request of the Central Court of Instruction No. 6 of the National Court, the bank defended the absence of any criminal responsibility of the entity, and it should also be noted that the criminal liability of legal persons only It is legally enforceable since 2010, "the bank reports.

Torres earns 19% more

The bank has also sent the remuneration report of its directors to the regulator during the year 2019, which details a total remuneration of 15.4 million euros distributed between the dome. Its president, Carlos Torres, pocketed a total of 5.01 million euros, 19% more, between fixed and variable remuneration linked to the fulfillment of financial objectives by the entity.

The CEO, Onur Genç , won € 4.98 million in his first year in office. This amount includes the payment of a supplement of more than 500,000 euros per trip after being recruited at the Madrid headquarters and another 654,000 euros collected in cash instead of contributions to the pension plan.

The remuneration accrued by the president includes the collection of a fixed salary of 2.4 million euros and various short and long term bonuses linked to the evolution of the bank between 2016 and 2019. On the other hand, the report details a contribution of 1.9 million euros to the president's pension plan, raising the total deposited funds to 21.6 million euros from his arrival to the senior executive positions of the entity.

The third executive director, José Manuel González-Paramo, won a total of 1.2 million euros between fixed and variable remuneration in his last full year. The report reveals that after his retirement, the one who was senior of the Bank of Spain and the ECB will charge 1.4 million euros for his pension plan at BBVA. The entity said Monday that González-Paramo will lose its executive functions at the next shareholders meeting and will become an external advisor to the group.

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