This unit manages the portfolio of industrial and financial investments in companies operating in the telecommunications, media, electricity, oil, gas and financial sectors. Like Asset/Liability Management, it lies within the Group’s Financial Area.
BBVA applies strict requirements to this portfolio regarding risk-control procedures, economic capital consumption and return on investment, diversifying investments across different sectors. It also applies dynamic hedging and monetization management strategies to its holdings. In 2013 it invested €173m and divested €286m.
As of December 31, 2013, the market value of the holdings in the Industrial & Financial Companies portfolio is €3,125m.
