2024: A year of growth
BBVA closed out an exceptional year, with growth on all fronts: business activity, earnings, customers and strategy execution. BBVA posted record earnings and paid out the highest dividend in its history. Organizational changes within the Group include the creation of a new area specializing in corporate clients, which the bank plans to serve with a more personalized value proposition, along with a Digital Banking Unit. The year 2024 has also brought other important milestones. Investment banking continued to experience substantial growth in the U.S., and bolstered its presence in Brazil. Furthermore, the bank created a sustainability hub in Houston and announced its upcoming expansion into a new market for retail banking, Germany, following the success of the digital banking model in Italy. Artificial intelligence was another major theme this year. Specifically, new extensive models based on the language of generative artificial intelligence models have sparked a new wave of innovation. BBVA established specialized teams, identified use cases and signed an agreement with OpenAI for 3,000 licenses to allow employees to have access to transformative tools like ChatGPT. In parallel, major progress took place in cybersecurity with the creation of a center in Mexico specialized in improving overall protection. In sustainability, BBVA is about to reach its target for the 2018 and 2025 period of channeling €300 billion in financing for companies and projects that drive the decarbonization of the economy - one year ahead of schedule. In addition, BBVA created a business unit that specializes in clean technologies to accelerate financing for these kinds of projects. The bank also invested $200 million in the KKR fund through which it will support companies propelling the energy transition on a large scale. Similarly, BBVA joined various initiatives to help those impacted by the flash floods in Valencia; the BBVA Microfinance Foundation won the go!SDG awards promoted by the UN Global Compact in Spain, as well as recognition from the Rafael del Pino Foundation and the United Nations; and BBVA was once again named best bank in Latin Latin America and Spain, and it celebrated 10 years of collaboration with the Roca brothers by renewing their agreement until 2027.
DECEMBER 5th
BBVA is the best bank in Spain, Peru and Venezuela according by The Banker
BBVA was once again recognized as the best bank of the year in Spain, according to the magazine, The Banker, which is part of the British Financial Times group. The bank also received the global award for financial inclusion for its contributions through the BBVA Microfinance Foundation, and was honored as the best bank in Peru and Venezuela.
DECEMBER 5th
BBVA Mexico becomes the first institution to surpass one trillion pesos managed in investment funds
BBVA Mexico is the first financial institution in the country with a total of 1.01 trillion pesos managed in investment funds, according to data from the Asociación Mexicana de Instituciones Bursátiles (AMIB). The professionalization of its agents has been critical in attaining this milestone, allowing the bank to reach a market share of 24.18 percent, with 56 investment products available. BBVA and the CFA Institute recently reached an agreement for 140 of the bank’s investment advisors to obtain an internationally recognized certification.
NOVEMBER 4th
BBVA Switzerland turns 50
BBVA celebrated the 50th anniversary of its arrival in Switzerland. During this time, BBVA Switzerland has established exceptional international private banking services, with a business model focusing on customers and innovation as key components. In the last four years, the bank has set itself apart for being a pioneer in providing services that specialize in digital asset management.
NOVEMBER 4th
BBVA join forces to help those affected by the DANA in Spain
BBVA rushed to collaborate and help those affected by the DANA storm in Spain. The bank implemented a package of emergency measures, including the waiving of commissions for cash withdrawals and moved eight mobile branches to the most affected municipalities. BBVA also maintains an active website with information on all of the assistance for loans, insurance, and other services available for individuals and companies.
