Business · Companies · 3 hrs ago
BBVA says Turkey could receive 10% to 15% of its sustainable finance
BBVA aims to provide €1 trillion in sustainable financing from 2018 to 2029, according to CEO Onur Genç.
The Spanish bank says it provided €250 billion between the start of 2025 and the end of September 2026.
Turkey could receive 10% to 15% of the total, Genç said, even though it contributes about 8% of the group’s profit.
Turkey is a major focus because it imports much of its energy, leaving its economy exposed to energy costs and external shocks.
Investment in clean energy could help reduce that vulnerability, while also supporting the shift to more sustainable business.
Turkish exporters also face potential extra costs under the European Union’s carbon border rules, which are due to take full effect in 2027.
Genç said many small and medium-sized businesses may not be prepared, and that banks should help them adjust.
BBVA chief executive Onur Genç said Turkey could account for 10% to 15% of the bank’s sustainable finance.
BBVA aims to provide €1 trillion in sustainable finance from 2018 through 2029.
The bank provided €250 billion from the start of 2025 through the end of September 2026.
Genç said Turkey accounts for 8% of BBVA’s total profit, while its expected sustainable finance share is higher.
Garanti BBVA chief executive Mahmut Akten said the bank had invested $8 billion in wind and solar.
- Who
- BBVA chief executive Onur Genç and Garanti BBVA chief executive Mahmut Akten.
- What
- Genç said Turkey could receive 10% to 15% of BBVA’s sustainable finance.
- When
- The comments were reported on November 12, 2026.
- Where
- The comments concerned BBVA’s financing in Turkey.
- Why
- Genç said Turkey’s energy dependence and economic vulnerabilities make sustainability important.
This story does not have two clearly opposing sides.
BBVA made sustainability one of its strategic priorities.
BBVA reached its sustainable finance target a year early, after raising it to €300 billion.
BBVA set a goal to provide an additional €700 billion in sustainable finance.
BBVA provided €250 billion in sustainable finance from the start of the year through the end of September.
- Turkey’s expected share
- 10% to 15% of BBVA sustainable finance
- BBVA’s total target
- €1 trillion from 2018 onward
- BBVA financing in 2025–September 2026
- €250 billion
- Turkey’s share of BBVA profit
- 8%
- Garanti BBVA wind and solar investment
- $8 billion
What people are saying
Turkey’s share of our total profit is 8%. Despite this, I think Turkey will account for between 10% and 15% of our sustainable finance.
Without solving this current account deficit issue, regardless of political situations, as a country we will always face a vulnerability. The way to solve it is through sustainability.
Let us all prioritize this issue.
Our investment so far in these two areas alone has reached $8 billion.