Banco Bilbao Vizcaya Argentaria

Banco Bilbao Vizcaya Argentaria (BBVA) is a Spanish multinational financial services company headquartered in Bilbao, Spain. Established in 1857, BBVA has grown into one of the largest financial institutions globally, offering a comprehensive range of services including retail banking, corporate banking, investment banking, insurance, private banking, private equity, mortgage loans, credit cards, investment management, wealth management, asset management, mutual funds, exchange-traded funds, and index funds. The bank operates in more than 25 countries, serving approximately 77.2 million customers with a workforce of 125,916 employees as of 2024. BBVA's assets amounted to around €772 billion in 2024, making it the second-largest Spanish financial institution by volume of assets. The bank is listed on the Madrid Stock Exchange, the New York Stock Exchange, and the Mexican Stock Exchange, and is part of the IBEX 35 and the Dow Jones EURO STOXX 50 indices. BBVA has a significant presence in Spain, Portugal, Mexico, South America, Turkey, Italy, Romania, and Germany. The bank's international expansion began in 1902 with the opening of a branch in Paris, followed by another in London in 1918. Over the decades, BBVA has strategically acquired and merged with various financial institutions, including the acquisition of Bancomer in Mexico in 2000, which became BBVA Bancomer (now BBVA Mexico), the largest financial institution in Mexico. In 2007, BBVA expanded into the United States by acquiring Compass Bancshares, establishing BBVA USA, which was later sold to PNC Financial Services in 2021 for $11.6 billion. In Turkey, BBVA gradually increased its stake in Garanti Bank (now Garanti BBVA) between 2011 and 2022, eventually gaining majority control of Turkey's second-largest private bank. Throughout its history, BBVA has navigated various economic challenges, including the 2008 global financial crisis and the European sovereign debt crisis, while maintaining its position as one of Europe's most solvent banks. The bank has also been a leader in digital banking transformation, investing heavily in technology and innovation to develop award-winning digital platforms and mobile applications. In 2019, BBVA unified its global brand, adopting a single logo and identity across all its operating countries. The bank has made strategic investments in fintech companies and established innovation centers to explore emerging technologies such as blockchain, artificial intelligence, and data analytics. In recent years, BBVA has focused on sustainability and sustainable finance, becoming one of the banks to participate in the first green bond issued by the European Investment Bank in 2007. In 2021, BBVA joined 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. In March 2022, BBVA invested €18.5 million in 'LowerCarbon', a venture capital fund specializing in financing projects and companies focused on climate change. In July 2022, BBVA joined the 'Carbonplace' platform as a founder with the aim of facilitating access to carbon credits for individuals and companies. 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. BBVA's commitment to innovation and sustainability continues to drive its growth and influence in the global financial sector.