Carlos Torres Vila: “The combination with Banco Sabadell will position Catalonia as a European hub of innovation and entrepreneurship”

The BBVA Chair stressed that the transaction with Banco Sabadell represents a strong commitment to both companies and Catalonia. "We are the bank that has shown the greatest commitment to Catalonia over the past decade," stated Carlos Torres Vila, referring to the bank's growth in Catalonia following the integration of CX and Unnim. He also mentioned that the combination with Banco Sabadell is aligned with this commitment to the community and its business sector. This transaction, he noted, "will enhance our ability to finance companies and entrepreneurs by more than €5 billion annually."

Regarding BBVA's commitment to Catalan companies and the rest of Spain, it was noted that in 2023, the bank provided new financing totaling €80 billion, which is an 8 percent increase from the previous year. This growth is even more pronounced in Catalonia, reaching 11 percent; in the case of Catalan SMEs, it rises to 15 percent.

Carlos Torres Vila also noted that Catalonia is in a prime position for businesses in general, and especially for startups, which have experienced significant growth in recent years, adding over 2,000 companies, according to Acció, the Generalitat’s business competitiveness agency. Furthermore, Dealroom figures show that Catalonia has received over €5 billion of venture capital investments over the past five years—more than anywhere else in Spain. Barcelona has the highest number of innovative companies valued at over €1 billion, many of which BBVA Spark has been working with for years now.

"Catalonia is a significant magnet for entrepreneurship and talent attraction," stated the BBVA Chair. He noted that, overall, Catalan companies tend to adopt information technologies faster and are more digitized, with a 50 percent higher penetration in the use of these technologies compared to companies in the rest of Spain.

"We are already supporting 100,000 companies annually—including 20,000 Catalan companies—with their internationalization efforts," remarked Torres Vila. He emphasized BBVA's international footprint, particularly in Latin America and the United States, through its corporate and investment banking services, as a strength that complements Sabadell's offering for businesses.

New BBVA Spark office in London

In parallel, BBVA Spark took advantage of this event to announce that it is opening a new office in London, reinforcing its international presence. BBVA’s specialized banking for innovative companies has offices in Spain, Mexico, Colombia and Argentina, with the U.K. now joining them to cover the European market. “We want to be the partner of tech companies that are seeking to scale up their businesses internationally. Certainly here in Catalonia as well, where we can be the bridge that connects Catalan entrepreneurs with new markets. BBVA Spark’s presence in Latin America and now Europe, with the new office in London, helps our business clients establish themselves easily in other markets, and have a single channel of communication,” stressed Roberto Albaladejo, Head of BBVA Spark.

BBVA Spark is rapidly expanding on an international scale, more than doubling its customer base over the past year. It now serves 1,500 customers in Spain and Latin America, with about 200 of those in Catalonia, and currently has nearly €500 million in committed credit.

In addition to venture debt transactions and global banking services, BBVA Spark has positioned itself as a strategic partner to develop innovative projects with its clients, such as cash management service for Vecttor (Cabify) drivers through BBVA ATMs; providing TaxDown services to the bank’s clients for tax returns; and integrating Capchase’s financial analytics platform. Furthermore, one of the biggest benefits of Spark is its presence in different countries, making it the ideal partner to reach new markets.