BBVA: 1991-2007

Abstract:     
We compute the Shareholder Value Creation of BBVA. The market cap of BBVA increased between December 1991 and December 2007 in 59.1 billion euros. The shareholder value creation during this period was 18.7 billion euros. The average shareholder return of BBVA in this 16 years was 18.3%, higher than that of the IBEX 35 (15.1%). Average inflation was 3.4%. We also compare the shareholder return of BBVA with that of other banks.

Note: Downloadable document is in Spanish.

Keywords: Value creation, shareholder value creation, BBVA, Banco Bilbao Vizcaya Argentaria

JEL Classifications: G12, G31, M21

Working Paper Series