Identification data
Bilbao Bizkaia Kutxa, Aurrezki Kutxa eta Bahitetxea (BBK), the universal successor of a merger between the defunct Bilboko Udal Aurrezki Kutxa (created by Bilbao Town Hall) and Bizkaiko Aurrezki Kutxa (created by the Provincial Council of Bizkaia), was incorporated in a merger deed drawn up by the Bilbao Notary Mr. José María Arriola Arana on 16 February 1990 and entered in his general notary records as number 525. It was also entered in the Bizkaia Business Registry in Volume BI-1, Sheet 112, Page Nº BI-9A, entry 1.
For the purposes of compliance with Transitory Stipulation One of Law 26/2013 of 27 December on savings banks and banking foundations, on 30 June 2014 the General Meeting of Bilbao Bizkaia Kutxa, Aurrezki Kutxa eta Bahitetxea (BBK) resolved to transform Bilbao Bizkaia Kutxa, Aurrezki Kutxa eta Bahitetxea (BBK) into a banking foundation, to be known thereafter as Bilbao Bizkaia Kutxa Fundación Bancaria-Bilbao Bizkaia Kutxa Banku Fundazioa.
On 20 November 2014, BBK issued a public document for the transformation of Bilbao Bizkaia Kutxa Fundación Bancaria-Bilbao Bizkaia Kutxa Banku Fundazioa, drawn up by the Bilbao Notary Mr. Vicente María del Arenal Otero and entered in his general notary records as number 1596. On 24 November 2014 it was also entered in the Basque Country’s Foundations Registry as F-375, categorised as Section Four.
Corporate name
Bilbao Bizkaia Kutxa Fundación Bancaria-Bilbao Bizkaia Kutxa Banku Fundazioa
Date of incorporation
Bilbao Bizkaia Kutxa, Aurrezki Kutxa eta Bahitetxea (BBK), the universal successor of a merger between the defunct Bilboko Udal Aurrezki Kutxa (created by Bilbao Town Hall) and Bizkaiko Aurrezki Kutxa (created by the Provincial Council of Bizkaia), was incorporated in a merger deed drawn up by the Bilbao Notary Mr. José María Arriola Arana on 16 February 1990.
Bilbao Bizkaia Kutxa Fundación Bancaria-Bilbao Bizkaia Kutxa Banku Fundazioa was incorporated on 24 November 2014.
Registered address
Gran Vía, 19-21
48001 Bilbao (Bizkaia)
Telephone: 94 685 94 00
Internet address: www.bbk.eus
Tax number
G 48412720
Registry data
Bilbao Bizkaia Kutxa Fundación Bancaria-Bilbao Bizkaia Kutxa Banku Fundazioa is entered in the Basque Country’s Foundations Registry as F-375, Section Four.
Governing Bodies
Board of Trustees
This is the most senior governing body and representative of Bilbao Bizkaia Kutxa Fundación Bancaria-Bilbao Bizkaia Kutxa Banku Fundazioa. The Board is charged with meeting the foundational objectives, and also with administering the assets and rights of the Banking Foundation. The Board will also be responsible for control and supervision and dispatch of reports to the Bank of Spain and the Basque Government.
The Board is composed of thirteen members. It will meet as many times as required for proper operation of the banking foundation, and at least on a quarterly basis.
Appointments Committee
This is a permanent internal body with informative and consultative functions, to inform, advise and propose within its scope of activity. The Appointments Committee will have the following functions:
- Inform the Board of the general policy with regard to the expenses and/or remuneration of the Foundation’s trustees and senior management, if applicable.
- Issue a proposal to the Board of Trustees for the appointment of trustees following the departure of those making up the Board, for any reason.
- Guarantee compliance with the legal and statutory requirements to exercise Trustee functions, and any requirements in relation to the Managing Director of the Foundation.
- Guarantee transparency with regard to remuneration, and provide the Board with any information that may be relevant.
- Examine the information furnished by members of the Board or by public or private institutions in the Historic Territory, concerning (i) the requisites of commercial and professional honourability, experience and good governance made mandatory by legal and statutory requirements, (ii) the system of incompatibilities set out in the Statutes and the legislation applicable, (iii) in general, any other requisite made mandatory by legal and statutory requirements for exercise of the post, and (iv) any other professional obligations and, where applicable, any situations of direct or indirect conflict that could concern the interests of the Foundation and fulfilment of its social function.
Investment Committee
Its function is to inform the Board of any strategic investment and divestment undertaken by the Banking Foundation, either directly or through companies within its group, the financial viability of such investment, and its suitability with regard to the Foundation’s strategic plans and budgets.
Social Projects Committee
This body has no executive functions, and merely informs, advises and proposes within its scope of activity.
The functions of the Social Projects Committee are as follows:
- Advise the Board on social issues.
- Draw up proposals concerning the guidelines of Social Projects, and present them to the Board.
- Examine the budgets for Social Projects and report to the Board concerning their compliance.
- Any other similar functions that may be assigned to it by regulations in force or by the Board, and preparation of any reports which the Board may require of it.
Audit and Regulatory Compliance Committee
This body has no executive functions, and merely informs, advises and proposes within its scope of activity.
The functions of the Audit and Regulatory Compliance Committee are as follows:
- Report to the Board on any issues arising with regard to its respective competences.
- Issue a proposal to the Board for the appointment of external Auditors, in accordance with regulations.
- Study the information processes and internal control systems of the Banking Foundation and of its group, as applicable.
- Establish relations with the external Auditors to receive any information on issues that could jeopardise their independence, any others concerning the auditing process, and any other communications set out in accounting regulations and in technical auditing standards.
Management Team
