THE FOUNDATION'S EARLY DAYS
The BBVA Microfinance Foundation is an institution created by the BBVA Group within the framework of its Corporate Responsibility (CR) strategy. The Foundation was set up as a result of BBVA's desire to combine its community investment projects with the business of the financial sector and, more specifically, with the fight against financial exclusion. This project enables BBVA to further ensure its CR strategy is consistent with the nature of its business, with a long-term commitment and an undeniable social impact in developing countries, with priority (but not exclusive) attention paid to those countries where the Group is operational.
The Foundation is completely separate from the BBVA Group, with regard both to its legal personality and to its governance and management. With an endowment of €200m, the BBVA Microfinance Foundation reinvests the profits from these funds in institutions in which it has a stake, with no return for BBVA. This is expressly set forth in the Foundation's articles of association, which guarantee that all resources are allocated to the mission and foundational purpose, ensuring that the institution continues to focus its activity on them.