BBVA posts €1.17 million bail in Villarejo espionage case, says fine won’t hit earnings

Banco Bilbao Vizcaya Argentaria (BBVA) has paid a €1.17 million cash bail ordered by Spain’s Audiencia Nacional in the Villarejo espionage investigation. The bank says the deposit clears a procedural hurdle but does not expect any material impact on its financial results, even if the prosecutor’s request for a fine of around €180 million is upheld.

The case alleges that BBVA hired former police commissioner José Manuel Villarejo’s firm to obtain confidential information on rivals, politicians and journalists between 2004 and 2017. Prosecutors have also charged former BBVA president Francisco González with multiple offences, including bribery and illegal disclosure of secrets. An oral trial has been opened, though no hearing date has been set. BBVA maintains that any civil liability would be immaterial to the bank’s balance sheet.