Banco Bilbao Vizcaya Argentaria, S.A. (NYSE:BBVA) is one of the best very cheap stocks to buy according to hedge funds. On August 22, the company’s Colombian branch granted a long-term credit facility to Grupo Energía Bogotá (GEB) for 500 billion Colombian pesos (COP) (about $125.2 million). The loan will finance key GEB projects, including large-scale energy transmission initiatives like “Chivor II Norte 230 kilovoltios,” “Sogamoso,” and “Colectora y segundo circuito.”
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This transaction consolidates the bank’s role as a key financial partner in the development of infrastructure projects that contribute to the country’s energy transformation and progress. In 2023, BBVA Colombia granted 3.8 billion COP in sustainable lending. A total of 1.4 billion COP was allocated to climate action pursuits, and 873 billion COP went to government entities. BBVA Colombia and the International Finance Corporation (IFC) issued a “biodiversity bond” in 2024 to finance projects that address biodiversity loss. The bank also partnered with energy firm Isagen to convert long-term finance of 368 billion COP to sustainable loans linked to compliance with an environmental indicator.
Banco Bilbao Vizcaya Argentaria, S.A. is a global financial services company. It provides retail banking, corporate banking, wealth management, and asset management services across Europe, Latin America, and the United States.
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This article is originally published at Insider Monkey.
