BBVA rejects €180 million fine over Villarejo corruption case

BBVA said it will not set aside a provision for a potential €180 million fine sought by Spain's Anticorruption Prosecutor in the Villarejo case. The prosecutor’s accusation requests €9 million for bribery and €172.8 million for 48 offences of secret revelation linked to the former police commissioner José Manuel Villarejo. CEO Onur Genç argued the bank bears no criminal responsibility and therefore cannot be liable for the penalty, stating the institution has always defended that the facts do not give rise to criminal liability. He declined to provision any amount, warning that a conviction would have to be paid directly from results, cutting the bank’s profits and potentially leading to further sanctions such as disqualification of the legal entity.

The case remains open, with the judge’s oral trial order allowing for the possibility of a corporate conviction and financial penalties, though BBVA considers such an outcome unlikely.