Banco Bilbao Vizcaya Argentaria Company Profile and Operations

Banco Bilbao Vizcaya Argentaria is a Spanish multinational banking company that has a long and complex history. It was formed in 1999 through the merger of three major Spanish banks: Banco Bilbao Vizcaya, Banco Argentaria, and Banco Hispanoamericano.

The company's origins date back to the 19th century, with the founding of Banco de Bilbao in 1857 and Banco de Vizcaya in 1901. Banco Argentaria was established in 1929, and Banco Hispanoamericano in 1900.

Banco Bilbao Vizcaya Argentaria operates in 31 countries worldwide, with a significant presence in Latin America and a strong network of branches and subsidiaries.

Banco Bilbao Vizcaya Argentaria's history dates back to 1857 when the Junta de Comercio promoted the creation of Banco de Bilbao as a bank of emission and discount in Bilbao, Spain.

Banco de Bilbao was a pioneer in financing important infrastructure and steel development projects in its region of influence. It even lost the ability to emit its own bills in 1878 and reorganized as a bank of loans and discount.

Banco de Vizcaya was founded in 1901 and initially served Bilbao merchants, making commercial loans and taking business deposits. It expanded throughout the Basque country and then into the rest of Spain.

Banco de Vizcaya absorbed several banks, including Banco Vascongado in 1903 and Banca Jacquet e Hijos in 1915. By the 1920s, it had a strong network of branches throughout Spain and a presence in France.

Banco de Vizcaya continued to grow and expand, even during the economic crisis of 1929, and by 1935, it had 200 offices. It also became a more diversified financial-services group in the 1960s, founding several companies, including Induban and Finsa.

The liberalization of banking regulations in 1974 led to further expansion for Banco de Vizcaya, which had 305 offices in 1970 and grew to 904 offices by 1980.

BBVA has a significant presence in several countries around the world.

The bank has subsidiaries in Argentina, Colombia, Mexico, Peru, Venezuela, and Uruguay.

BBVA also had a presence in the United States, Brazil, Chile, and Paraguay in the past.

Some of its international subsidiaries include Garanti BBVA in Turkey and BBVA Italia.

BBVA has a strong presence in Spain, with significant assets and a substantial workforce.

As of 2023, BBVA's assets in Spain totaled 457,624 million euros.

The bank's net profit in Spain for 2023 was 2,755 million euros.

BBVA has a large network of offices in Spain, with a total of 1,882 offices.

The bank employs a significant number of people in Spain, with a total of 27,410 employees as of 2023.

Here is a list of some of BBVA's international subsidiaries:

Banco Bilbao Vizcaya Argentaria, or BBVA, has undergone several significant mergers and acquisitions throughout its history. In 1988, Banco de Bilbao and Banco de Vizcaya merged to form BBV, adopting the BBV brand in 1989.

The company's growth continued with the creation of BBVA in 1999, following the merger of BBV and Argentaria. This new entity was formed after a privatization process that took place between 1993 and 1998.

BBVA's expansion into Latin America began in the late 1990s, with the acquisition of Bancomer S.A. in Mexico in 2000. This purchase gave BBVA control of nearly 30 percent of Mexico's banking assets.

The company continued to expand its operations in Latin America, with a focus on developing new technology and increasing its market share in Brazil. BBVA's e-banking venture, Uno-E, lost money, but the company remained committed to the Internet as a potentially lucrative banking avenue.

BBVA's growth continued in 2001, despite the volatility of the Argentine market due to a monetary crisis. The company's strong involvement in Argentina's banking industry led to expected losses, but BBVA remained determined to increase its market share.

In 2012, BBVA acquired Unnim Banc, a Spanish banking group, for a symbolic euro. The acquisition was completed in July 2012, and Unnim remained an independent entity within the BBVA group for a year before being fully integrated in 2013.

BBVA's acquisition of Unnim was followed by the purchase of Catalunya Banc in 2014 for €1.187 billion. The two entities were fully integrated in 2016, with BBVA absorbing Catalunya Banc and maintaining the CatalunyaCaixa brand in Catalonia for a year before fully integrating the platform.

Recommended read: Bank of America Money Wire

BBVA's commitment to a more sustainable future is inspiring. In 2007, the bank established the Fundación Microfinanzas, a non-profit organization aimed at promoting sustainable development for vulnerable entrepreneurs in Hispanic America.

The bank's dedication to social responsibility is evident in its various initiatives. BBVA Research was created in 2010 to promote financial knowledge and global market insights.

One of the bank's most notable achievements is the recognition of its Fundación Microfinanzas by the OECD in 2021. The organization was acknowledged as the first in contributing to development in Hispanic America and the first worldwide in its contribution to gender equality.

BBVA's commitment to education and financial inclusion is also noteworthy. In 2022, the bank implemented a plan to improve financial literacy and health for over a million people in the European Union.

The bank's focus on sustainability is not limited to its initiatives, but also extends to its products. BBVA's commitment to a more sustainable future is a testament to its dedication to making a positive impact on the world.

Take a look at this: Chase Bank First Republic

Banco Bilbao Vizcaya Argentaria's financial performance has been impressive, with net income reaching €6.8 billion in 2020. This is a significant increase from the previous year's net income of €4.8 billion.

The bank's revenue has been steadily increasing over the years, reaching €24.8 billion in 2020. This growth can be attributed to the bank's expansion into new markets and its focus on digital transformation.

In terms of assets, Banco Bilbao Vizcaya Argentaria has a significant presence in Spain and Latin America, with total assets reaching €646 billion in 2020. The bank's strong presence in these regions has contributed to its overall financial performance.

The bank's return on equity (ROE) has also been impressive, reaching 10.3% in 2020. This indicates that the bank is generating strong profits relative to its equity.