Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company headquartered in Bilbao, with operative offices in Madrid. As one of the largest financial institution globally, BBVA's core markets are primarily concentrated in Spain, Mexico, South America, and Turkey.[2]
The bank was founded as Banco de Bilbao, on 28 May 1857, in Bilbao. BBVA's operational headquarters are located in Madrid, in the Ciudad BBVA complex. It is Spain's second-largest bank after Banco Santander. It is listed on the Madrid Stock Exchange, the New York Stock Exchange and on the Mexican Stock Exchange. It is also a part of the IBEX 35 as well as the Dow Jones EURO STOXX 50.[3]
As of 31 December 2024, BBVA's assets amounted to around €772 billion, making it the second-largest Spanish financial institution by volume of assets. At that same date, it had 5,949 offices, 125,916 employees and 77.2 million customers,[1] and was present in more than 25 countries.
On 2 April 2018, it was ranked the 42nd largest bank in the world by total assets.[4]
In 2022 BBVA was recognized as the country's overall best-performing bank by The Banker.[5][6]
BBVA has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[7][8]
History in Spain
Banco de Bilbao and Banco de Vizcaya
The history of BBVA began in 1857 in Bilbao, a city located in the Basque part of northern Spain, when the Board of Trade promoted the creation of Banco de Bilbao as an issuing and discount bank.[9]
Banco de Vizcaya was founded in 1901 and carried out its first operations in Bilbao. Little by little, it spread throughout the country.[9]
In 1988, the merger agreement between Banco de Bilbao and Banco de Vizcaya was signed. And in 1989, the BBV brand was adopted.
Merger of BBV and Argentaria: Creation of BBVA
In 1991, the Spanish government of Felipe González created the public bank Argentaria, grouping in it the Spanish public banks. Subsequently, between 1993 and 1998 the process of privatization of the entity was carried out. BBV and Argentaria announced their merger project on 19 October 1999, with the aim of continuing to create value.
Credit ratings
As of January 2023, BBVA had the following debt ratings with the four major rating agencies:
International expansion
The international presence of BBVA began in 1902, when the Banco de Bilbao opened a branch in Paris and in 1918 another in London, thus becoming the first Spanish bank with a presence abroad. In the 1970s, Banco de Bilbao, Banco de Vizcaya and Banco Exterior were configured as international groups, with the installation of operational and representative offices in the financial capitals of Europe, America and Asia. Likewise, the bank initiated a policy of expansion in America through the purchase of local banks in various countries of the continent.
In 2019 the Bank changed its name to BBVA, dropping local brand names in Argentina (Francés), Mexico (Bancomer), Peru (Continental), and the United States (Compass). In addition to the rebranding, Garanti in Turkey was renamed Garanti BBVA.[24]
In February, 2025 BBVA seeking an investment partner, hiring Rothschild to sell part of its 75.5% stake in the Crea Madrid Nuevo Norte real estate project. The project, which is expected to be completed by 2035, includes 1.6 million square meters of office space and Spain's tallest skyscraper in its capital.[25]
Other European operations
Italy and Germany
In a shift from its traditional branch-based model, BBVA entered the Italian and German retail banking markets with fully digital, standalone neobank platforms.
BBVA launched its digital bank in Italy in 2021.[35] Rather than opening physical branches, the bank focused on a lean cost structure, offering free accounts, high-yield deposits, and a robust mobile application. Within four years, the Italian digital branch surpassed 700,000 customers.[36]
Following its launch in Italy, BBVA launched a similar digital bank in Germany in June 2025. While the German operation is completely branchless, it partnered with local networks to provide customers access to over 70,000 physical contact points for cash deposits and withdrawals.[37]
Portugal
Corporate Social Responsibility
In 1932, the Economic Research Department was created to disseminate knowledge of financial matters among society. In May 2010, BBVA created BBVA Research, a platform that merges the Economic Research Department with the Global Market unit.[40]
In 1988, the BBVA Foundation was created to support and promote scientific research and cultural creation, the dissemination of culture and knowledge, and the recognition of talent through various awards, grants and scholarships.
In 2007, BBVA set up the Microfinance Foundation in Latin America, a non-profit organization created with the aim of promoting the sustainable development of entrepreneurs in vulnerable situations. In 2021, the Organization for Economic Cooperation and Development (OECD) recognized the BBVA Microfinance Foundation as the first to contribute to development in Latin America and the first in the world to contribute to gender equality.
In March 2022, in line with the European Commission and OECD's framework for financial competence for adults in the European Union, BBVA implements a plan to promote financial education programs aimed at improving the financial inclusion and health of one million people and promoting sustainable development and investment.[41]
Sustainability
BBVA's link to sustainability and sustainable finance began in 2007, when it became one of the banks to participate in the first green bond issued by the EIB.[42]
In 2021, BBVA joined, as one of the 43 founding members, the "Net-Zero Banking Alliance" initiative, promoted by the United Nations to encourage banks' lending and investment portfolios to be net zero in greenhouse gas emissions by 2050.[43]
In March 2022, BBVA invested 18.5 million euros in "LowerCarbon", a venture capital fund specializing in financing projects and companies focused on climate change.[44]
In July 2022, BBVA joined the "Carbonplace" platform as a founder with the aim of facilitating access to carbon credits for individuals and companies.[45]
In 2023, the Dow Jones Sustainability Index (DJSI) awarded BBVA the highest score in the banking category in the European region for the fourth consecutive year.[46]
Presence on stock market indexes
IBEX 35
BBVA is included in the IBEX 35, the official index of the Spanish Continuous Market composed of the 35 most liquid stocks traded on continuous market. The BBVA has a market capitalization of 15,816 million euros, (09-30-20).[47]
Eurostoxx 50
BBVA bank lists in Eurostoxx 50 along with other banks like Santander Bank and Deutsche Bank.
NYSE
BBVA bank is listed on the New York Stock Exchange.
Mexican Stock Exchange
Emerging and growth-leading economies (EAGLEs)
Emerging and growth-leading economies (EAGLEs) are a grouping of key emerging markets developed by BBVA Research. The EAGLE economies are expected to lead global growth in the next 10 years, and to provide important opportunities for investors.
See also
- BBVA Rising Stars Challenge NBA exhibition basketball game
- BBVA Foundation Frontiers of Knowledge Award annual science and humanities award since 2009
- List of banks in the euro area
- List of banks in Spain
External links
References
- 2024 BBVA Financial Data^
- BBVA in the world bbva.com, retrieved 2023-02-28^
- IBEX 35 COMPOSITE INDEX, IBEX:MCE Constituents – FT.com markets.ft.com^